US Adhesive Market Increases $500 Million in Sales in the Next 5 Years

According to a forecast by the Business Information Specialist Research Institute (SBI) in New York City, the U.S. adhesive and sealant market will continue to grow, driven by the recovery of the U.S. economy. In the next five years, this market will increase from US$7.9 billion in 2005. To 8.4 billion U.S. dollars.

In 2005, sales of all adhesives in the United States increased by 2.1% year-on-year to US$5.6 billion, of which the strongest growth was in adhesives for hot melt, epoxy, and PVC. At the same time, the sales of sealants also increased by 3.1% year-on-year to reach US$2.2 billion, of which the structural sealants, which are mainly used in the construction and transportation industries, are the fastest growing.

It is estimated that the total global sales volume of the adhesives and sealants market is about 27 billion to 30 billion U.S. dollars, of which the U.S. market consumption is 11 billion U.S. dollars, accounting for about one-third of the global market. Due to the strong demand for adhesives/sealants, in recent years, some large US production companies have stepped up their efforts to expand production.

In May of this year, Hexion Specialty Chemicals of the United States purchased AkzoNobel's ink and adhesive resin assets for US$113 million; BASF completed the expansion of its Gassemar facility in the United States, enabling the production of adhesives and other uses of polyetheramines. Doubled; Dow Corning will invest in the production of silicone resin in India and other regions and GE Silicone Corp. in Germany, etc.; Sika, Switzerland will invest US$ 17.8 million in its US Lyndhurst polyurethane adhesive/seal Agent production capacity increased by 1 time.

Source: Glue Online