Specialty Adhesives

US specialty adhesives demand will rise 4.4 percent annually through 2013. Strong growth in the medical product and automotive markets will fuel gains in the dominant manufacturing segment. The on-site construction market will grow the fastest. Cyanoacrylates and radiation-cured acrylic adhesives will be the fastest growing types.

This study analyzes the $2.4 billion US specialty adhesives industry. It presents historical demand data for the years 1998, 2003 and 2008, with forecasts for 2013 and 2018 by adhesive type (e.g., polyurethane, cyanoacrylate, epoxy, anaerobic, polyvinyl butyral) and market (e.g., manufacturing and assembly, on-site construction).

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 25 industry competitors, including Henkel, 3M and Dow Chemical.

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TABLE OF CONTENTS SECTION PAGE INTRODUCTION ix I. EXECUTIVE SUMMARY 1 II. MARKET ENVIRONMENT 4 General 4 Macroeconomic Outlook 5 Demographic Outlook 9 Personal Consumption Expenditures 12 Manufacturing Outlook 14 Construction Expenditures 17 Historical Market Trends 21 Environmental & Regulatory Considerations 24 Competitive Fastening Materials 26 III. OVERVIEW 29 General 29 Adhesive Industry Overview 30 Specialty Adhesive Demand by Market 32 Pricing 35 Foreign Trade & International Activity 37 IV. PRODUCTS 39 General 39 Polyurethane Adhesives 42 Demand by Market 44 Suppliers 46 Cyanoacrylate Adhesives 48 Demand by Market 49 Suppliers 52 Epoxy Adhesives 53 Demand by Market 54 Suppliers 56 Anaerobic Adhesives 57 Polyvinyl Butyral Adhesives 59 Other Specialty Adhesives 61 Silicone Adhesives 62 Thermoplastic Polyester Adhesives 64 Polyamide Adhesives 65 Polyimide Adhesives 66 Radiation-Cured Acrylic Adhesives 68 Polyisobutylene Adhesives 69 All Other Specialty Adhesives 70 V. MANUFACTURING & ASSEMBLY MARKETS 73 General 73 Aerospace & Other Transportation Equipment 77 Aerospace & Other Transportation Equipment Outlook 78 Specialty Adhesive Demand 80 Aerospace Equipment 81 Marine & Other 82 Medical Products 84 Medical Product Outlook 85 Specialty Adhesive Demand 86 Medical Device Manufacturing 87 Other Medical Products 90 Packaging & Converting 95 Flexible Packaging Outlook 95 Specialty Adhesive Demand 97 Laminated Glass 100 Electronic Equipment 102 Electronic Equipment Outlook 103 Specialty Adhesive Demand 104 Die Attach 106 Assembly & Surface Mount 107 Conductive 108 Underfill 109 OEM Motor Vehicles 110 Motor Vehicle Outlook 110 Specialty Adhesive Demand 113 Other Manufacturing & Assembly Markets 116 Furniture 117 Textiles 118 Tapes & Labels 118 All Other Manufacturing & Assembly Markets 120 VI. OTHER SPECIALTY ADHESIVE MARKETS 122 General 122 On-Site New Construction 125 Residential Building 127 Nonresidential Building 128 Nonbuilding 129 Motor Vehicle Aftermarket 129 Construction Repair & Remodeling 132 All Other Markets 134 VII. INDUSTRY STRUCTURE 137 General 137 Market Share 141 Competitive Strategies 145 Acquisitions & Divestitures 146 Cooperative Agreements 149 Marketing 150 Distribution 152 Manufacturing 153 Research & Development 154 Company Profiles 156 ADCO Global Incorporated 157 Adhesives Research Incorporated 159 Ashland Incorporated 160 Avery Dennison Corporation 162 Berry Plastics Group Incorporated 164 Bondo, see 3M Bostik, see Total DAP Products, see RPM International Dow Chemical Company 165 Dow Corning Corporation 169 Elmer's Products Incorporated 171 EMS-Chemie Holding AG 172 Fasson Roll North America, see Avery Dennison Forbo Holding AG 174 Franklin International Incorporated 175 Fuller (HB) Company 177 Henkel AG & Company KGaA 180 Huntsman Corporation 184 Illinois Tool Works Incorporated 185 ITW Devcon, see Illinois Tool Works LORD Corporation 188 Mapei SpA 190 Momentive Performance Materials Incorporated 191 Royal Adhesives & Sealants LLC 193 RPM International Incorporated 194 Schnee-Morehead, see Illinois Tool Works Sika AG 196 ThreeBond International Incorporated 198 3M Company 199 Total SA 201 Tremco, see RPM International Wacker-Chemie AG 204 Other Companies Mentioned in Study 205 LIST OF TABLES TABLE NUMBER PAGE SECTION I -- EXECUTIVE SUMMARY Summary Table 3 SECTION II -- MARKET ENVIRONMENT 1 Macroeconomic Indicators 9 2 Population & Households 12 3 Personal Consumption Expenditures 14 4 Manufacturers' Shipments 17 5 Construction Expenditures 21 6 Specialty Adhesive Market, 1998-2008 23 SECTION III -- OVERVIEW 1 Adhesive Demand 31 2 Specialty Adhesive Demand by Market 33 3 Specialty Adhesive Pricing 36 SECTION IV -- PRODUCTS 1 Specialty Adhesive Demand by Product 40 2 Polyurethane Adhesive Demand 44 3 Polyurethane Adhesive Demand by Market 46 4 Cyanoacrylate Adhesive Demand 49 5 Cyanoacrylate Adhesive Demand by Market 51 6 Epoxy Adhesive Demand 54 7 Epoxy Adhesive Demand by Market 56 8 Anaerobic Adhesive Demand 59 9 Polyvinyl Butyral Adhesive Demand 61 10 Other Specialty Adhesive Demand by Product & Market 62 11 Silicone Adhesive Demand 64 12 Thermoplastic Polyester Adhesive Demand 65 13 Polyamide Adhesive Demand 66 14 Polyimide Adhesive Demand 67 15 Radiation-Cured Acrylic Adhesive Demand 69 16 Polyisobutylene Adhesive Demand 70 17 All Other Specialty Adhesive Demand 72 SECTION V -- MANUFACTURING & ASSEMBLY MARKETS 1 Specialty Adhesive Demand in Manufacturing & Assembly Markets 76 2 Aerospace & Other Transportation Equipment Shipments 79 3 Aerospace & Other Transportation Equipment Market for Specialty Adhesives by Product & Segment 81 4 Medical Product Shipments 86 5 Medical Product Market for Specialty Adhesives by Product & Segment 87 6 Converted Flexible Packaging Demand 97 7 Packaging & Converting Market for Specialty Adhesives by Product & Segment 100 8 Laminated Glass Market for Specialty Adhesives by End Use 102 9 Electronic Product Shipments 104 10 Electronic Equipment Market for Specialty Adhesives by Product & Segment 105 11 Motor Vehicle Indicators 113 12 OEM Motor Vehicle Market for Specialty Adhesives by Product 116 13 Other Manufacturing & Assembly Markets for Specialty Adhesives by Segment 117 SECTION VI -- OTHER SPECIALTY ADHESIVE MARKETS 1 Other Specialty Adhesive Markets 124 2 On-Site New Construction Market for Specialty Adhesives by Product & Segment 127 3 Motor Vehicle Aftermarket for Specialty Adhesives 132 4 Construction Repair & Remodeling Market for Specialty Adhesives 134 5 All Other Markets for Specialty Adhesives 136 SECTION VII -- INDUSTRY STRUCTURE 1 US Specialty Adhesive Sales by Company, 2008 139 2 Selected Acquisitions & Divestitures 148 3 Selected Cooperative Agreements 150 4 Research & Development Spending Patterns: Selected Adhesive Suppliers 156 LIST OF CHARTS CHART NUMBER PAGE SECTION II -- MARKET ENVIRONMENT 1 Specialty Adhesive Market, 1998-2008 23 SECTION III -- OVERVIEW 1 Specialty Adhesive Demand by Market, 2008: Value & Volume 34 2 World Specialty Adhesive Demand by Region, 2008 38 SECTION IV -- PRODUCTS 1 Specialty Adhesive Demand by Product, 2008: Value & Volume 41 SECTION V -- MANUFACTURING & ASSEMBLY MARKETS 1 Specialty Adhesive Demand in Manufacturing & Assembly Markets, 2008 77 SECTION VII -- INDUSTRY STRUCTURE 1 US Specialty Adhesive Sales by Company, 2008 142

Specialty Adhesives

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Specialty Adhesives

1 INTRODUCTION

2 EXECUTIVE SUMMARY

Table | US SPECIALTY ADHESIVE DEMAND (million dollars)

3 MARKET ENVIRONMENT

3.1 General

3.2 Macroeconomic Outlook

Table | MACROECONOMIC INDICATORS (billion 2000 dollars)

3.3 Demographic Outlook

Table | POPULATION & HOUSEHOLDS (million people)

3.4 Personal Consumption Expenditures

Table | PERSONAL CONSUMPTION EXPENDITURES (billion dollars)

3.5 Manufacturing Outlook

Table | MANUFACTURERS' SHIPMENTS

3.6 Construction Expenditures

Table | CONSTRUCTION EXPENDITURES (billion dollars)

3.7 Historical Market Trends

Table | SPECIALTY ADHESIVE MARKET, 1998-2008

3.8 Environmental & Regulatory Considerations

3.9 Competitive Fastening Materials

4 OVERVIEW

4.1 General

4.2 Adhesive Industry Overview

Table | ADHESIVE DEMAND

4.3 Specialty Adhesive Demand by Market

Table | SPECIALTY ADHESIVE DEMAND BY MARKET

4.4 Pricing

Table | SPECIALTY ADHESIVE PRICING (dollars per pound)

4.5 Foreign Trade & International Activity

5 PRODUCTS

5.1 General

Table | SPECIALTY ADHESIVE DEMAND BY PRODUCT

5.2 Polyurethane Adhesives

Table | POLYURETHANE ADHESIVE DEMAND

5.2.1 Demand by Market

Table | POLYURETHANE ADHESIVE DEMAND BY MARKET (million dollars)

5.2.2 Suppliers

5.3 Cyanoacrylate Adhesives

Table | CYANOACRYLATE ADHESIVE DEMAND

5.3.1 Demand by Market

Table | CYANOACRYLATE ADHESIVE DEMAND BY MARKET (million dollars)

5.3.2 Suppliers

5.4 Epoxy Adhesives

Table | EPOXY ADHESIVE DEMAND

5.4.1 Demand by Market

Table | EPOXY ADHESIVE DEMAND BY MARKET (million dollars)

5.4.2 Suppliers

5.5 Anaerobic Adhesives

Table | ANAEROBIC ADHESIVE DEMAND

5.6 Polyvinyl Butyral Adhesives

Table | POLYVINYL BUTYRAL ADHESIVE DEMAND

5.7 Other Specialty Adhesives

Table | OTHER SPECIALTY ADHESIVE DEMAND BY PRODUCT & MARKET (million dollars)

5.7.1 Silicone Adhesives

Table | SILICONE ADHESIVE DEMAND

5.7.2 Thermoplastic Polyester Adhesives

Table | THERMOPLASTIC POLYESTER ADHESIVE DEMAND

5.7.3 Polyamide Adhesives

Table | POLYAMIDE ADHESIVE DEMAND

5.7.4 Polyimide Adhesives

Table | POLYIMIDE ADHESIVE DEMAND

5.7.5 Radiation-Cured Acrylic Adhesives

Table | RADIATION-CURED ACRYLIC ADHESIVE DEMAND

5.7.6 Polyisobutylene Adhesives

Table | POLYISOBUTYLENE ADHESIVE DEMAND

5.7.7 All Other Specialty Adhesives

Table | ALL OTHER SPECIALTY ADHESIVE DEMAND

6 MANUFACTURING & ASSEMBLY MARKETS

6.1 General

Table | SPECIALTY ADHESIVE DEMAND IN MANUFACTURING & ASSEMBLY MARKETS (million dollars)

6.2 Aerospace & Other Transportation Equipment

6.2.1 Aerospace & Other Transportation Equipment Outlook

Table | AEROSPACE & OTHER TRANSPORTATION EQUIPMENT SHIPMENTS (billion dollars)

6.2.2 Specialty Adhesive Demand

Table | AEROSPACE & OTHER TRANSPORTATION EQUIPMENT MARKET FOR SPECIALTY ADHESIVES BY PRODUCT & SEGMENT (million dollars)

6.3 Medical Products

6.3.1 Medical Product Outlook

Table | MEDICAL PRODUCT SHIPMENTS (billion dollars)