New Study Examines Global Adhesives Industry
The Asia-Pacific region led in dollars in 2009, with its consumption of just over $7 billion representing 34% of the global total. China was an outlet for nearly half of the region’s dollars and is forecast to expand at a 9% annual rate through 2014. Japan was one-fifth of the region’s value and is a mature market. India represented only 5% of the Asia-Pacific dollars but is the fastest growing country for adhesives.
Europe consumed 32% of the global adhesive dollars in 2009, with 93% in European Union member countries. Modest growth is forecast with Russia, Turkey and other Eastern European countries expected to advance faster than Western European countries. North America took 27% of the 2009 adhesive dollars. Modest growth is also forecast as the region recovers from the lows of the global recession.
South America took 5% of the global adhesive dollars in 2009, with 57% coming from Brazil. The Brazilian economy recovered faster from the recession than the developed economies of the world, and adhesive consumption in the country declined only slightly in 2009. Regional growth is forecast at 5% per year through 2014.
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