World Adhesives Demand Forecast to Rise 4.2% per Year
Market Trends: World demand for adhesives is forecast to rise 4.2 percent per year to 16.6 million metric tons in 2004, according to a recent study.
World demand for adhesives is forecast to rise 4.2 percent per year to 16.6 million metric tons in 2004, according to the study "World Adhesives" by the Freedonia Group, Cleveland. Over the same period, market value will increase 5.7 percent per year to $24.6 billion, based on average price increases of 1.6 percent per year to $1.48 per kilogram. These price increases reflect in part higher prices for key petroleum-derived raw materials such as solvents, resins and tackifiers.
In addition to price increases among individual adhesives, total market value will continue to benefit from long-term shifts in overall product mix, which is gradually but steadily moving away from commodity adhesives such as animal glues and low-solids, solvent-based formulations toward more environmentally benign formulations such as hot melts and emulsion polymers.