Study Forecasts Increase in Demand for Automotive Adhesives, Sealants and Coatings
CLEVELAND – Demand for adhesives, sealants and coatings used in the U.S. automotive industry is forecast to increase 1.3 percent per year to 1.8 billion pounds in 2003, according to "Automotive Coatings, Sealants & Adhesives," a recent study by The Freedonia Group, Inc.
Gains will slow from the expansionary pace set between 1993 and 1998, primarily due to the decelerating U.S. motor vehicle industry. Adhesives and sealants will offer the strongest annual gains due to their increased use per vehicle, while volume demand for automotive coatings will be mitigated by the continuing shift to powders, which are more efficient and weigh less than conventional solvent-based liquids.