The outlook for the U.S. adhesives and sealants industry at the mid-point of 2014 has slightly improved over 2013 (see Figures 1 and 2). After growing just 1.9% in 2013, most economists are predicting the U.S. gross domestic product (GDP) will grow 3% for 2014. Recent economic data has been showing uneven but improving growth after contracting 1% (annualized rate) in the first quarter due to weather.
For 2013, ChemQuest estimates that the U.S. adhesive industry grew < 1% in volume terms and 2.7% in terms of value. Sealants did better, growing about 2% in volume and nearly 6% in value in 2013. The primary reason for sealants outpacing adhesives was the strength in the transportation and construction industries, where they find greater use. In 2014, ChemQuest estimates adhesives and sealants to grow 2-3% in volume and twice that in terms of value.