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Home  > Markets & companies  > Adhesives market to grow annually by 2.9 %

Friday, 20 September 2019
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Markets & companies

Adhesives market to grow annually by 2.9 %

Friday, 13 July 2012

The dynamic economic development in emerging countries such as China, India, Russia and Brazil will stimulate further growth in demand for adhesives.

Global adhesives consumption in 2011 by region. Source: Ceresana

Global adhesives consumption in 2011 by region. Source: Ceresana

During their development, adhesives have gained a strong position in more and more production processes. Market researchers from Ceresana expect a revenue of almost USD 50 billion for the global adhesives market in 2019. Especially the dynamic economic development in emerging countries such as China, India, Russia and Brazil will stimulate further growth in demand for adhesives, according to the company’s new report "Market study: Adhesives – World”. The market research institution expects demand to rise by 2.9 % p.a. in the next eight years, meaning that growth will even accelerate when compared to the last eight years.

Growth market Asia

Dynamic growth rates cause demand in Asia-Pacific to grow rapidly, being the worldwide largest share with more than a third of total demand. Ceresana forecasts that Asian countries will gain further shares of the global adhesives market in the future - at the expense of the already saturated markets in the developed countries of North America and Western Europe.

Emerging and developing countries already profit by increasing demand, especially in the construction and wood processing industries. With an estimated growth of 3.4 % p.a. the construction sector will become the single largest sales market for adhesives in 2019.

Demand for waterbased adhesives to increase

The major product group is adhesives based on vinyls. Almost 3.5 million tonnes of these types was demanded worldwide in 2011. An above-average growth of more than 3 % p.a. is expected for the demand for acrylics-based adhesives in the period from 2011 to 2019.

More than half of the adhesives demanded on a global level in 2011 were waterbased - a continuing increase of demand in the next eight years is forecast, as more and more solventbased adhesives are replaced by other technologies. Changes due to ecological aspects will have effects on both the production processes of adhesives as well as on further substitutions of various types of adhesives.

The avoidance of solventbased products will generate growth impulses, mainly in the areas of hotmelts and waterbased adhesives.

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