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FREEDONIA GROUP: Specialty Adhesives Study (11/2/09)

November 2, 2009
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U.S. demand for specialty adhesives is projected to expand 4.4% annually to $3.0 billion in 2013, according to a new study by the Freedonia Group.

U.S. demand for specialty adhesives is projected to expand 4.4% annually to $3.0 billion in 2013, with volume reaching 705 million pounds. Overall demand will benefit from real (inflation-adjusted) growth in durable goods output following a period of decline between 1998 and 2008. In terms of market volume, specialty adhesives are a small component of the overall adhesive industry, representing about 5% of U.S. adhesive demand in 2008.  However, specialty adhesives are more significant with respect to market value, accounting for 28% of overall adhesive demand due to their relatively high prices. Among specialty adhesive product types, cyanoacrylates are expected to achieve the fastest gains in market value through 2013, due primarily to rapid growth in the medical field, particularly in medical device and tissue adhesive applications. These and other trends are presented in Specialty Adhesives, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

Manufacturing and assembly operations represent the largest major market for specialty adhesives, accounting for four-fifths of demand in 2008. Advances will be fueled by continued strong growth in the medical product market, where specialty adhesives find use in the manufacture of medical devices, transdermal patches and medical tape. The automotive market will also drive gains as motor vehicle output rebounds from the significant declines of the 2003-2008 period. 

The on-site construction market is forecast to increase rapidly through 2013, supported by accelerating construction activity. Specialty adhesives are used in both building and non-building construction applications.  Growth will be fueled by new housing activity, which is forecast to achieve double-digit annual gains as it rebounds from the significant declines of the 2003-2008 period. 

Demand for specialty adhesives in other markets is expected to advance at an above-average rate through 2013.  These applications encompass the use of specialty adhesives in automotive repair, construction repair and remodeling, and miscellaneous uses.  The repair and remodeling segment will expand at a healthy rate, aided by an acceleration in home improvement and repair activity.  However, growth in the automotive aftermarket will be limited by the improved outlook for motor vehicle sales, which will restrain automotive repair activity.  Among miscellaneous uses, advances will be led by tissue adhesives, which will benefit from greater use in place of traditional wound closure methods.

For more information, please contact Corinne Gangloff by phone (440) 684-9600, fax (440) 646-0484 or e-mail at pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.

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