MARKET TRENDS: Special Selection
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 nonbuilding 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, contact Corinne Gangloff, The Freedonia Group Inc., 767 Beta Drive, Cleveland, OH 44143-2326; phone (440) 684-9600; fax (440) 646-0484; e-mail firstname.lastname@example.org; or visit www.freedoniagroup.com.