Bethesda, Maryland - The Adhesive and Sealant Council (ASC) has estimated the global adhesives and sealants market at $40 500 million in sales, with a 3.3 percent annual growth rate until 2013.
ASC made the claims in its North American Market Report (NAMR) for Adhesives and Sealants, a report published every three years, and which covers the 2010-2013 time period.
According to ASC, the NAMR also reports that the North American adhesives and sealants market is $11 100 million, with 2.2-percent annual growth through to 2013.
The report also indicates that polyurethane-based products have about 8 percent of the global adhesives and sealants market.
"The market report comes out in an economic climate that might be considered 'optimistic uncertainty,' with general business conditions and sales forecasts showing positive signs, but unemployment and a slower than expected recovery for important market segments causing some anxiety," said Matthew Croson, president of ASC.
He added, "That said, most markets are forecasted to grow, with emphasis on end-use categories including packaging, building and construction and footwear, while transportation will have slower growth."
ASC said that in addition to market size and forecasts, the report includes sections detailing the breakdown by market segment, including global demand by market segment and by polymer type.