Adhesives and Sealants to 2017

Published: March 2013
No. of Pages: 318
  

US demand for adhesives and sealants will rise 2.2 percent per year to 9.8 billion pounds in 2017, valued at $11.9 billion. Natural adhesives and sealants will remain the largest product segment, while reactive and hot melt types grow the fastest. Solvent-based products will also do well based in part on reformulation efforts to lower VOC emissions.

This study analyzes the 8.8 billion pound US adhesives and sealants industry. It presents historical demand data for the years 2002, 2007 and 2012, with forecasts for 2017 and 2022 by product (e.g., natural adhesives and sealants, emulsion and dispersion, hot melt, reactive, solvent-based) and market (e.g., packaging, manufacturing and assembly, construction, consumer).

The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 35 industry players such as Henkel, HB Fuller, and RPM International.

US demand to rise 2.2% annually through 2017

US demand for adhesives and sealants will grow 2.2 percent per annum to 9.8 billion pounds in 2017, valued at $11.8 billion. Gains will be driven by a better outlook for major adhesives and sealants markets such as paper packaging, motor vehicles, and building construction, following the recession-plagued 2007- 2012 period. Demand will also benefit from trends toward increased usage of adhesive bonding compared to alternative joining technologies, such as mechanical fasteners, in product assembly applications. However, advances will be limited by trends toward high solids formulations and lower application weights, as well as market maturity and sluggish growth in a number of leading applications.

Reactive adhesives, sealants to exhibit fastest advances

Natural adhesives and sealants will remain the largest product type through 2017, accounting for nearly 40 percent of demand. However, natural products will also see the weakest gains going forward, as the bulk of demand consists of low value starch adhesives used in corrugated cardboard production, a highly mature and slow growing application. The most rapid advances are expected for reactive adhesives and sealants, fueled by the rebounding manufacturing market, as well as product substitution trends toward higher value materials. Hot melts will also see healthy gains, as their amenability to fast processing speeds will promote opportunities in the packaging market, in addition to their lack of volatile organic compound (VOC) emissions. Despite decades of losing share to alternative formulations, solvent-based adhesives and sealants will see above average gains in demand, bolstered by a turnaround in the construction sector and product reformulation efforts to lower VOC emissions.

Construction to be most rapidly growing market

Among adhesives and sealants markets, the fastest growth is forecast for construction, which will rebound strongly from the sharp declines of the 2007-2012 period. Construction is a particularly important outlet for sealants, which are widely used in both building and nonbuilding applications. The large packaging market, which accounted for nearly 60 percent of adhesives and sealants demand in 2012, will exhibit the slowest gains, hampered by weakness in the dominant paper packaging segment. In the manufacturing and assembly market, fastest growth is expected for tapes and labels, motor vehicles, and machinery, while nonwoven disposables, furniture, and smaller volume outlets such as bookbinding will rise at a subpar rate. Nearly all markets, however, will see an improvement in adhesives and sealants demand from the performance of the 2007-2012 period.

Company Profiles

Profiles for 34 players in the US industry such as Dow Chemical, HB Fuller, Henkel, RPM, and Total

Additional Information

This study examines the US market for adhesives and sealants by product  (e.g., natural, emulsion and dispersion, hot melt, reactive, solvent-based) and  market (e.g., packaging, manufacturing and assembly, construction, consumer).   Binder resins, such as those used in the production of engineered wood products  and to bond certain nonwoven fabrics together, are not considered adhesives for  the purposes of this study and are excluded.  Carpet and rug backing adhesives  are also not included in market totals.  Historical data for 2002, 2007, and 2012  and forecasts for the years 2017 and 2022 are provided for adhesives and  sealants demand by formulated pounds (i.e., including the weight of water or  solvents as well as additives and fillers).  Value data (in US dollars) and pricing  are also provided for product demand.  In addition, the key strategic,  competitive, and regulatory variables affecting the US adhesives and sealants  industry are discussed, the industry’s key players are identified and profiled,  and US sales are evaluated.  The entire study is framed within the industry’s  economic and market environments.

Information and data on adhesives and sealants were obtained from a  variety of primary and secondary sources, including government and trade  associations, industry participants, online databases, and other Freedonia  studies.  Primary information was gathered through consultations with officers  and marketing personnel of participating companies and other industry  specialists.  Secondary data and background information were obtained from  various trade publications including Adhesives & Sealants Industry, Chemical  & Engineering News, and Chemical Week.  Corporate annual reports, SEC  Form 10-K filings, product catalogs, and other company information were also  used extensively in framing the industry and market environments and as input  for market size assessments.

Adhesives and Sealants to 2017

Table of Contents

Introduction  x

I. Executive Summary  1

II. Market Environment 
General 4
Macroeconomic Outlook 5
Consumer Spending Outlook 8
Packaging Industry Overview 11
Manufacturing Outlook 14
Construction Industry Outlook 17
Adhesives & Sealants Technology 19
Raw Materials & Formulation 19
Product Selection & Application 21
Competitive Materials & Technologies 22
Regulatory & Environmental Issues 24
Adhesives & Sealants Pricing 26
Historical Market Trends 28
Foreign Trade & International Activity 30

III. Products 
General 33
Natural Adhesives & Sealants 37
Starch & Dextrin 38
Protein Adhesives 41
Cellulosics & Other 43
Emulsion & Dispersion 45
Polyvinyl Acetate 48
Acrylics 50
Vinyl Acetate-Ethylene 53
Styrene-Butadiene Latex 55
Polyvinyl Alcohol 56
Other Emulsions & Dispersions 57
Hot Melt 59
Ethylene Vinyl Acetate 62
Polyethylene 65
Styrenic Block Copolymers 67
Thermoplastic Polyurethane 69
Other Hot Melts 71
Reactive 72
Silicone 75
Polyurethane 79
Epoxy 82
Polysulfides 85
Other Reactive 87
Solvent-Based 90
Elastomers 93
Natural Rubber 95
Styrene-Butadiene Rubber 96
Styrenic Block Copolymers 97
Butyl Rubber 97
Polychloroprene 98
Other Elastomers 98
Polyvinyl Acetate 99
Vinyl Chloride Polymers 100
Other Solvent-Based 101
Other Adhesives & Sealants 103
Bituminous 104
Sodium Silicate 106
Polyvinyl Butyral 108

IV. Markets 
General 110
Packaging 113
Paper & Paperboard Packaging 115
Paper Packaging Industry Overview 115
Adhesives Demand 117
Corrugating Adhesives 119
Case & Carton Sealing 120
Bags & Other Paper Packaging 121
Other Packaging 122
Flexible Packaging Industry Outlook 122
Adhesives Demand 124
Manufacturing & Assembly 126
Tapes & Labels 129
Tape & Label Industry Outlook 130
Adhesives Demand 132
Motor Vehicles 135
Motor Vehicle Industry Overview 136
Adhesives & Sealants Demand 139
Aerospace & Other Transportation 142
Aerospace & Other Transportation Industry Outlook 143
Adhesives & Sealants Demand 145
Furniture 148
Furniture Industry Outlook 149
Adhesives Demand 151
Machinery 153
Machinery Industry Outlook 154
Adhesives & Sealants Demand 156
Electrical & Electronic 157
Electrical & Electronic Products Outlook 158
Adhesives & Sealants Demand 159
Nonwoven Disposables 162
Personal Hygiene Product Outlook 163
Adhesives Demand 165
Other Manufacturing & Assembly 167
Construction 170
Residential Building 173
Residential Building Construction Outlook 173
Adhesives & Sealants Demand 175
Nonresidential Building 177
Nonresidential Building Construction Outlook 178
Adhesives & Sealants Demand 180
Nonbuilding 182
Nonbuilding Construction Outlook 182
Adhesives & Sealants Demand 184
Consumer & Other 186

V. Industry Structure 
General 189
Market Share 191
Merger & Acquisition Activity 195
Manufacturing 199
Marketing & Distribution 200
Competitive Strategies 202
Cooperative Agreements 203
Company Profiles 205
ADCO Global Incorporated 206
Adhesives Packaging Specialties, see Royal Adhesives &
Sealants
Adhesives Research Incorporated 209
Advanced Chemistry & Technology, see 3M
Akzo Nobel NV 211
Ashland Incorporated 214
Avery Dennison Corporation 217
BASF SE 220
Bemis Company Incorporated 224
Berry Plastics Corporation 226
Bostik, see Total
Carlisle Companies Incorporated 228
Clifton Adhesives, see Royal Adhesives & Sealants
Craig Adhesives & Coatings, see Royal Adhesives &
Sealants
Cytec Industries Incorporated 231
DAP Products, see RPM International
Dow Chemical Company 234
Dow Corning Corporation 240
DuPont (EI) de Nemours 244
Elmer’s Products Incorporated 246
EMS-Chemie Holding AG 248
Engent, see Fuller (HB)
ETERNABOND, see ADCO Global
Extreme Adhesives, see Royal Adhesives & Sealants
Forbo Holding Limited 250
Franklin International Incorporated 251
Fuller (HB) Company 254
Gardner-Gibson Incorporated 259
Henkel AG & Company KGaA 261
Henry Company 268
Huntsman Corporation 270
Illinois Tool Works Incorporated 272
ITW TACC, see Illinois Tool Works
LORD Corporation 278
MACtac, see Bemis
Mapei SpA 281
Momentive Performance Materials Holdings LLC 283
Para-Chem Southern, see Royal Adhesives & Sealants
PPG Industries Incorporated 288
PRC-Desoto International, see PPG Industries
Royal Adhesives & Sealants LLC 291
RPM International Incorporated 294
Rust-Oleum, see RPM International
Sherwin-Williams Company 301
Sika AG 305
ThreeBond International Incorporated 307
3M Company 309
Tremco, see RPM International
Total SA 312
Wacker Chemie AG 315

List of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 Macroeconomic Indicators 8
2 Personal Consumption Expenditures 11
3 Packaging Shipments 13
4 Manufacturers’ Shipments 16
5 Construction Expenditures 18
6 Adhesives & Sealants Pricing Trends 28
7 Adhesives & Sealants Market, 2002-2012 29

Section III -- Products
1 Adhesives & Sealants Demand by Product 35
2 Natural Adhesives & Sealants Demand 38
3 Starch & Dextrin Adhesives Demand by Type & Market 41
4 Protein Adhesives Demand by Type & Market 43
5 Cellulosics & Other Natural Adhesives & Sealants Demand
by Type & Market 45
6 Emulsion & Dispersion Adhesives & Sealants Demand 47
7 Polyvinyl Acetate Emulsion Adhesives & Sealants Demand
by Market 50
8 Acrylic Emulsion Adhesives & Sealants Demand by Market 53
9 Vinyl Acetate-Ethylene Emulsion Adhesives & Sealants
Demand by Market 54
10 Styrene-Butadiene Latex Adhesives & Sealants Demand
by Market 56
11 Polyvinyl Alcohol Dispersion Adhesives Demand by Market 57
12 Other Emulsion & Dispersion Adhesives & Sealants Demand
by Type & Market 59
13 Hot Melt Adhesives & Sealants Demand 61
14 Ethylene Vinyl Acetate Hot Melt Adhesives & Sealants
Demand by Market 65
15 Polyethylene Hot Melt Adhesives & Sealants Demand
by Market 67
16 Styrenic Block Copolymer Hot Melt Adhesives & Sealants
Demand by Market 69
17 Thermoplastic Polyurethane Hot Melt Adhesives & Sealants
Demand by Market 70
18 Other Hot Melt Adhesives & Sealants Demand by Market 72
19 Reactive Adhesives & Sealants Demand 74
20 Silicone Reactive Adhesives & Sealants Demand by Market 78
21 Polyurethane Reactive Adhesives & Sealants Demand
by Market 82
22 Epoxy Reactive Adhesives & Sealants Demand by Market 84
23 Polysulfide Reactive Adhesives & Sealants Demand
by Market 87
24 Other Reactive Adhesives & Sealants Demand by Product
& Market 90
25 Solvent-Based Adhesives & Sealants Demand 92
26 Elastomeric Solvent-Based Adhesives & Sealants Demand
by Type & Market 95
27 Polyvinyl Acetate Solvent-Based Adhesives & Sealants
Demand by Market 99
28 Vinyl Chloride Polymer Solvent-Based Adhesives & Sealants
Demand by Market 101
29 Other Solvent-Based Adhesives & Sealants Demand
by Product & Market 102
30 Other Adhesives & Sealants Demand 103
31 Bituminous Adhesives & Sealants Demand by Market 105
32 Sodium Silicate Adhesives Demand by Market 107
33 Polyvinyl Butyral Adhesives & Sealants Demand by Market 109

Section IV -- Markets
1 Adhesives & Sealants Demand by Market 112
2 Packaging Markets for Adhesives 114
3 Paper Packaging Indicators 117
4 Paper & Paperboard Packaging Markets for Adhesives
by Segment & Product 119
5 Converted Flexible Packaging Demand 124
6 Other Packaging Markets for Adhesives by Product 126
7 Manufacturing & Assembly Markets for Adhesives & Sealants 128
8 Tape & Label Shipments 132
9 Tape & Label Market for Adhesives by Segment & Product 135
10 Motor Vehicle Indicators 139
11 Motor Vehicle Market for Adhesives & Sealants by Segment
& Product 142
12 Aerospace & Other Transportation Equipment Shipments 145
13 Aerospace & Other Transportation Market for Adhesives
& Sealants by Segment & Product 148
14 Furniture Shipments 150
15 Furniture Market for Adhesives by Product 153
16 Machinery Shipments 155
17 Machinery Market for Adhesives & Sealants by Product 157
18 Electrical & Electronic Product Shipments 159
19 Electrical & Electronics Markets for Adhesives & Sealants
by Product 162
20 Personal Hygiene Product Demand 165
21 Nonwoven Disposables Market for Adhesives by Product 166
22 Other Manufacturing & Assembly Markets  for Adhesives
& Sealants by Segment & Product 169
23 Construction Markets for Adhesives & Sealants by Segment
& Product 172
24 Residential Building Construction Expenditures 175
25 Residential Building Construction Markets for Adhesives
& Sealants by Sector & User 177
26 Nonresidential Building Construction Expenditures 180
27 Nonresidential Building Construction Markets for Adhesives
& Sealants by Sector 182
28 Nonbuilding Construction Expenditures 184
29 Nonbuilding Construction Market for Adhesives & Sealants
by Sector 186
30 Consumer & Other Markets for Adhesives & Sealants
by Product 188

Section V -- Industry Structure
1 US Adhesives & Sealants Sales by Company, 2012 190
2 Selected Acquisitions & Divestitures 197
3 Selected Cooperative Agreements 204   

List of Charts

Section II -- Market Environment
1 Adhesives & Sealants Market, 2002-2012 30

Section III -- Products
1 Adhesives & Sealants Demand by Product, 2012:
Volume & Value 36
2 Emulsion & Dispersion Adhesives & Sealants Demand
by Product, 2012 48
3 Hot Melt Adhesives & Sealants Demand by Product, 2012 62
4 Reactive Adhesives & Sealants Demand by Product, 2012 75
5 Solvent-Based Adhesives & Sealants Demand
by Product, 2012 93

Section IV -- Markets
1 Adhesives & Sealants Demand by Market, 2012 112
2 Packaging Markets for Adhesives, 2012 114
3 Manufacturing & Assembly Markets for Adhesives
& Sealants, 2012 129
4 Construction Markets for Adhesives & Sealants, 2012 173

Section V -- Industry Structure
1 US Adhesives & Sealants Market Share by Company, 2012 192

Published By: Freedonia Group
Product Code: Freedonia Group198


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