Bethesda, Maryland - The US Adhesive and Sealant Council expects total adhesive and sealant demand in the Asia Pacific region to grow 3.6% annually through 2013, reaching 9.9 billion pounds (4.5 million tonnes) of wet formulated product (WFP). The market is currently 8.9 billion pounds (WFP), with an estimated market value of about $12.5 billion, ASC said, in a 13 July release on its latest global market report.
"Because of its strong, growing middle class, the entire region is a considerable market for products that use adhesives and sealants, including packaging, construction and transportation," notes Matthew Croson, ASC president. "Outside of Japan, which continues to feel the impact of the earthquake and tsunami, we expect all of the market to expand and increase the use of innovative adhesive and sealant products over the next three years."
Market forces impacting the region include:
Global economic slowdown
Rising raw material prices
Weak US dollar
Japan earthquake and tsunami
China and India growth
Raw material shortages
Alternative energy demand
Growing consumer class
Growing environmental awareness
"Even with some market drivers having a negative impact in the short term, the strong consumer demand and growing population will make this region a strong player in the years ahead," Croson added.
For adhesives alone, the estimated 2010 market stands at $10.9 billion with 8.1 billion pounds (WFP) being shipped in 2010. The annual growth rate is 3.7% for adhesives. Sealants are projected to grow at 2.7% with an estimated 2010 value of $1.5 billion and demand of 825 million pounds.
The 2010-2013 Asia Pacific Market Study for Adhesives and Sealants provides market size breakdowns and an overview for countries within the region highlighting: China, India, Japan, Oceania, Vietnam, South Korea, Taiwan and Rest of Asia.
The study contains 91 pages, with 189 Tables and Figures, which provide market data by end use market segment, technologies, and product categories as defined in the Harmonised Definitions for Adhesives and Sealants approved and adapted in 2008 by the U.S. Adhesive and Sealant Council and FEICA (Federation of European Industries Colles (Glue) and Adhesives).
The Asia Market Report costs $300 for ASC members and $450 for non-members. For more information, visit www.ascouncil.org.