CONFIDENTIAL...Epoxy Chock / Grout Competitive Landscape 650 Polyurethane Grout Competitive...


2017–2020 North American MARKET REPORT for Adhesives and Sealants

A Comprehensive Report on the Adhesives and Sealants Market

In NORTH AMERICA with a Global Overview

2018 Edition

AN ASC MARKET REPORT


Section Title Page

Table of Contents 3

— List of Tables 3 - 7

Qualitative Interviews Breakdown by Subsegment 36

Sealants Sub-segmentation by Country in North America (2017) 130 - 142

Sealants Demand in the USA (Construction, Transportation, Consumer/DIY, Assembly) 131 - 134

Sealants Demand in Canada (Construction, Transportation, Consumer/DIY, Assembly) 135 - 138

Sealants Demand in Mexico (Construction, Transportation, Consumer/DIY, Assembly) 138 - 142

Key Customer Selection Criteria 145

Transportation Adhesives Market Overview / Micro Drivers and Implications 148

Transportation Structural Adhesives Overview 151

Automotive Structural Adhesives Value Chain 152

Aerospace & Defense Material Dynamics 161

TABLE OF CONTENTS

3


Section Title Page

— List of Tables

Automotive Engineered Polymers 236

Bus & Coach Industry – Profile & Dynamics 253

Medium & Heavy Duty Trucks – Profile & Dynamics 259 - 260

Trailers – Profile & Dynamics 266

Rail – Profile & Dynamics 278

Aerospace & Defense – Profile & Dynamics 286

Packaging Growth Drivers 301

Micro-Drivers for Structural Adhesives Use in Assembly 376

Micro-Drivers for Adhesives Use in Building & Construction 463

OEM Roofing vs. Re-Roofing Warranty Decisions Criteria 497

Contractors / Non-OEM Warrantied Selection Criteria 498

TABLE OF CONTENTS

4


Section Title Page

— List of Tables

Commercial Construction – Components of Growth Projection in Insulation Attachment 501

Non-Residential Construction Growth Estimates (7 Industry Sources) 503

Concrete Roof Deck Growth Forecast through 2018 504

Insulation Attachment and Tape Penetration Rates through 2020 507

Drivers for Adhesives Displacing Other Joining Methods 508

Flooring Adhesives Selection Guide 529

Civil Engineering Materials Segmentation in North America ($ Values) 545

Construction/Repair/Civil Engineering Product Technologies 546

FRP Wrap Applications & Uses 576

Chemical Anchors – Key Manufacturers 596

Bonding & Crack Repair Manufacturers 608

TABLE OF CONTENTS

5


Section Title Page

— List of Tables

Elastomeric Concrete Test Methods & Criteria 624

Typical Manufacturer’s Specification for Elastomeric Concrete 627

Epoxy Chock / Grout – Key Manufacturers 647

Municipal Infrastructure High Expansion Application Criteria 654

Municipal Infrastructure Moderate Expansion Application Criteria 656

Municipal Infrastructure Multi-Ratio Application Criteria 658

Municipal Infrastructure High Expansion Application Criteria (2K Hydrophobic PUR) 660

Polyurethane Grout – ASTM Property Tests 677

Polyurethane Grout – Key Manufacturers 679

Main Sealant Chemistries Used in DIY 717

Key Decision-Makers and Influencers for Consumer/DIY products 718

TABLE OF CONTENTS

6


Section Title Page

— List of Tables

Global Footwear Production – Rankings by Country (FDRA) 745

Global Adhesives Related M&A Transactions (2014-18) 766-769

New Adhesive & Sealant VOC Limits – SCAQMD Amended Rule 1168 793-794

DTSC Mission Statement & Workplan Activities including for adhesives (2017-2020) 797-800

— List of Figures 7 - 20

Global Adhesives & Sealants Market in 2017 48

Global Adhesives Demand (2017 Volume/Value Estimates) 49

Global Sealants Demand (2017 Volume/Value Estimates) 50

Global Adhesives – Key Drivers 51

Global Sealants – Growth Drivers 52

Global Adhesives & Sealants Demand Breakdown – Assembly Subsegments 53

TABLE OF CONTENTS

7


Section Title Page

— List of Figures

Global Adhesives & Sealants Demand Breakdown – Transportation Subsegments 54

Global Adhesives & Sealants Demand Breakdown – Building & Construction Subsegments 55

Global Adhesives & Sealants Demand Breakdown – Roofing Subsegments 56

Global Adhesives & Sealants Demand Breakdown – Woodworking & Joinery Subsegments 57

North America Addressable Market with Volume Forecast by Country (2017 -2020) 59

Adhesives Demand (2017 Volume/Value Estimates + 2020 Forecast) – USA 60

Sealants Demand (2017 Volume/Value Estimates + 2020 Forecast) - USA 61

Adhesives Demand (2017 Volume/Value Estimates + 2020 Forecast) – Canada 62

Sealants Demand (2017 Volume/Value Estimates + 2020 Forecast) – Canada 63

Adhesives Demand (2017 Volume/Value Estimates + 2020 Forecast) – Mexico 64

Sealants Demand (2017 Volume/Value Estimates + 2020 Forecast) – Mexico 65

TABLE OF CONTENTS

8


Section Title Page

— List of Figures

75% of NA Demand (Market Segments) 66

Technology Share in North America 67-73

— Pressure-Sensitive Adhesives Demand in NA 68

— Hot Melt Adhesives Demand in NA 69

— Water-based Adhesives Demand in NA 70

— Solvent-based Adhesives Demand in NA 71

— Reactive (Thermoset) Adhesives Demand in NA 72

— Water Soluble Adhesives Demand in NA 73

— Global Butyl Sealants Demand 79

— Wind & Marine Demand in Composites Bonding 86

— PSA Technology Share in NA (2017) 100

TABLE OF CONTENTS

9


Section Title Page

— List of Figures

— NA Structural Adhesives Segment Demand 105

— Adhesives Demand by Market Sub-segment in 2017 (USA, Canada, Mexico) 108 - 129

— Paper, Board and Related Products Adhesives Sub-segment Demand (2017) – USA 109

— Transportation Adhesives Sub-segment Demand (2017) – USA 110

— Footwear & Leather Adhesives Sub-segment Demand (2017) – USA 111

— Consumer/DIY Adhesives Sub-segment Demand (2017) – USA 112

— Building & Construction Adhesives Sub-segment Demand (2017) – USA 113

— Woodworking & Joinery Adhesives Sub-segment Demand (2017) – USA 114

— Assembly Operations Adhesives Sub-segment Demand (2017) – USA 115

— Paper, Board and Related Products Adhesives Sub-segment Demand (2017) – Canada 116

— Transportation Adhesives Sub-segment Demand (2017) – Canada 117

TABLE OF CONTENTS

10


Section Title Page

— List of Figures

— Footwear & Leather Adhesives Sub-segment Demand (2017) – Canada 118

— Consumer/DIY Adhesives Sub-segment Demand (2017) – Canada 119

— Building & Construction Adhesives Sub-segment Demand (2017) – Canada 120

— Woodworking & Joinery Adhesives Sub-segment Demand (2017) – Canada 121

— Assembly Operations Adhesives Sub-segment Demand (2017) – Canada 122

— Paper, Board and Related Products Adhesives Sub-segment Demand (2017) – Mexico 123

— Transportation Adhesives Sub-segment Demand (2017) – Mexico 124

— Footwear & Leather Adhesives Sub-segment Demand (2017) – Mexico 125

— Consumer/DIY Adhesives Sub-segment Demand (2017) – Mexico 126

— Building & Construction Adhesives Sub-segment Demand (2017) – Mexico 127

— Woodworking & Joinery Adhesives Sub-segment Demand (2017) – Mexico 128

TABLE OF CONTENTS

11


Section Title Page

— List of Figures

— Assembly Operations Adhesives Sub-segment Demand (2017) – Mexico 129

Sealants Demand by Market Sub-segment in 2017 (USA, Canada, Mexico) 130 - 142

— Building & Construction Sealants Sub-segment Demand (2017) – USA 131

— Transportation Sealants Sub-segment Demand (2017) – USA 132

— Consumer/DIY Sealants Sub-segment Demand (2017) – USA 133

— Assembly Operations Sealants Sub-segment Demand (2017) – USA 134

— Building & Construction Sealants Sub-segment Demand (2017) – Canada 135

— Transportation Sealants Sub-segment Demand (2017) – Canada 136

— Consumer/DIY Sealants Sub-segment Demand (2017) – Canada 137

— Assembly Operations Sealants Sub-segment Demand (2017) – Canada 138

— Building & Construction Sealants Sub-segment Demand (2017) – Mexico 139

TABLE OF CONTENTS

12


Section Title Page

— List of Figures

— Transportation Sealants Sub-segment Demand (2017) – Mexico 140

— Consumer/DIY Sealants Sub-segment Demand (2017) – Mexico 141

— Assembly Operations Sealants Sub-segment Demand (2017) – Mexico 142

Quick NA A&S Market Dynamics and Insights 144

Key A&S Customer Selection Criteria 145

Transportation Market Overview, Micro Drivers and Implications 148

NA Transportation Adhesives Demand & Technology Shares (2017) 150

Transportation Sector Vehicle Production Forecast through 2019 155

NA Marine Technology Share (2017) 166

Transportation Structural Adhesives Market Share by Competitor 183

NA Production Market Structure thru 2020 (USA, Canada, Mexico) 227

TABLE OF CONTENTS

13


Section Title Page

— List of Figures

Automotive A&S Technology Share in NA (2017) 235

U.S. Dry Goods Trailer Market Share (2017) 240

Automotive OEM Hot Melt Adhesives Volume Demand (2017) by Part / by Assembly 289 - 290

NA Paper, Board & Related Products Demand and Technology Shares 298

Fast-Moving Consumer Goods End Use Applications 300

Differentiator Technologies and Growth Drivers in Assembly Operations 351

NA Assembly Demand and Technology Shares (2017) 352

Half of Bonding Demand in NA Assembly Operations (Leading Segments in 2017) 353

Segment Share of OEM Capital Equipment Spend (2018 Forecast) 358

Assembly Methods in U.S. (Results of OEM Survey) 359

Global Electronics & Electrical Adhesives Demand (2017) 389

TABLE OF CONTENTS

14


Section Title Page

— List of Figures

Industry Structure Value Chain – Electronics and Electrical Adhesives 409

Structural Adhesives Expanding NA Market Demand by Region 412

Woodworking Adhesives Market Demand (2017) 425

Window and Door Sales & Growth Forecast thru 2021 429

Building & Construction Adhesives Demand and Technology Shares (2017) 465

Largest & Fastest Growing Construction Sub-segments (2017) 466

NA Roofing A&S Demand (Residential vs. Non-Residential) & Growth Forecast thru 2020 495

NA Low-Slope Commercial Roofing Demand, Technology Shares & Growth Forecast thru 2021 500

Low-Slope Roofing: Single-Ply Taking Share (Growth Projection thru 2021) 502

Moody’s U.S. Non-Residential Construction Spending Forecast thru 2020 505

FMI’s U.S. Non-Residential Construction Spending Forecast thru 2020 506

TABLE OF CONTENTS

15


Section Title Page

— List of Figures

Rising Energy Efficiency Standards (Adhesive Growth Drivers / State Zones) 509

ASHRAE Climate Zones in USA 511

Commercial Roofing Adhesives Manufacturing – Competitive Positioning 512

Structural Adhesives in Roofing Market Shares / Concentration of OEM Users 519

Flooring Demand and Growth Forecast by Sub-segment (2017 – 2021) 521

Structural Adhesives in Flooring (Demand, Growth Estimates, Market Shares) 540

Civil Engineering Demand / A&S Competitive Landscape in NA 548

Civil Engineering Channels-to-Market (Value Chain) with volume % breakdowns 562

Chemical Anchoring Competitive Landscape 598

Bonding & Concrete Crack Repair Competitive Landscape 610

Elastomeric Concrete Competitive Landscape 629

TABLE OF CONTENTS

16


Section Title Page

— List of Figures

Epoxy Chock / Grout Competitive Landscape 650

Polyurethane Grout Competitive Landscape 684

Global Insulating Glass (IG) Market Demand by Region 696

NA IG Market End Uses Percentage Breakdown 700

NA IG Adhesives and Sealants Technology Shares 701

Consumer / DIY Adhesives Demand (2017) 708

Consumer / DIY Adhesives and Sealants Technology Share in NA (2017) 709

U.S. Private Spending Breakdown on Home Improvements thru 2024 719

U.S. Residential Building Construction Expenditures by Type 720

Demographic Age Breakdown of Home Owners projected thru 2025f 721

Footwear & Leather Adhesives Demand and Technology Share 741

TABLE OF CONTENTS

17


Section Title Page

— List of Figures

Footwear & Leather Demand by Subsegment (2017) & Growth Forecast thru 2020 742

Footwear & Leather Demand by Resin Type (2017) 743

Specialty Chemicals Sales and EBITDA Multiples (2008 - 17) 749

Future M&A Activity Drivers and Impediments (Executive Survey results) 751

100 publicly-traded Global Chemical Companies EBITDA (2007 - 17) 752

Impact of Shareholder Activism (2010 - 17) 753

Growth of M&A Activity over $1 Billion (2010 – 2017 Mega Deals analysis) 754

Share of Private Equity Buyers by # Deals and Value – Global Chemical M&A (2010 - 17) 756

Key Profiles and Transactions in 2017 (Estimated EBITDA Synergies by Source - $MM) 759

Crude Oil (WTI) Long-Term Trendline (1990 – 2016) 802

U.S. Natural Gas Consumption by Sector (1995 – 2016) 804

TABLE OF CONTENTS

18


Section Title Page

— List of Figures

U.S. Benzene production, price-per-gallon, end use breakdown by percentage 805

Global Ethylene Outlook (supply demand, price-per-metric ton, operating rates, new capacity) 807

U.S. Ethylene Liquid Cracking Index (2006 – 2017) 808

Drivers of Ethylene Production Process 809

Feed Supply Chain and Tackifier Resins & Polymers 810

U.S. Rubber Demand by Type - $ MM (2010 - 16, 2021f) 812

Butadiene total demand, capacity by producer, end users breakdown by percentage 813

Propylene total demand, capacity by producer, end users breakdown by percentage 815

SB (Styrene – Butadiene) total demand in NA (2017), with CAGR thru 2020 816

Acrylic Acid and Derivatives Value Chain, total demand in NA (2017), with growth rate 817

Global Plasticizer Consumption and demand growth thru 2020 819

TABLE OF CONTENTS

19


Section Title Page

— List of Figures

U.S. Silicone Demand by Application 821

Fumed Silicas Demand thru 2020, with a 5-year CAGR 822

Global Outlook for Polyurethane 824

NA Demand for Polyurethane by Formulated Product - $ MM (2015 – 2021f) 825

NA Raw Materials Market thru 2021 ($ MM) 826

Polyurethanes – MDI demand worldwide (MM tons) by end use 827

Polyurethanes – TDI demand worldwide (MM tons) by end use 828

Polyurethanes Polyols Global Demand thru 2021, with a 5-year CAGR 829

TABLE OF CONTENTS

20


Section Title Page

Table of Contents

Introduction 32

ASC – FEICA Classification Manual (Industry Definitions) 34

Disclaimer 35

ASC/FEICA Adhesives Segmentation Coverage 37 - 42

Units of Measure 43

IRS Annual Currency Exchange Rate 44

Examples of Companies Interviewed (Qualitative Scope) 45 - 46

2017 Global A&S Market Overview 47 - 57

NA Addressable Market by Segment, Subsegment, Technology type and by Country in 2017 58 - 73

Technology Trends in NA 74 - 82

Composites Bonding Technologies 83 - 88

TABLE OF CONTENTS

21


Section Title Page

Pressure Sensitive Adhesives (market dynamics, macro trends & drivers, unmet needs, disruptive technologies) 89 - 103

Structural Adhesives in North America 104 - 107

NA Adhesives Subsegment Demand by Country (USA, Canada, Mexico) 108 - 129

NA Sealants Subsegment Demand by Country (USA, Canada, Mexico) 130 - 142

NA A&S Market Dynamics 143 - 145

TRANSPORTATION SECTOR 146 - 157

— Executive Summary 147

— Sector Attractiveness 149 - 153

— Transportation Profile & Dynamics (to include Key Decision Criteria) 154 - 157

— Composites in Transportation (Profile & Dynamics) 158 - 167

— PSA and Tapes in Transportation (to include Requirements) 168 - 174

TABLE OF CONTENTS

22


Section Title Page

— Transportation Sector Material Dynamics 176

— Transportation Sector Adhesives Supplier Dynamics 177

— Transportation Sector Adhesives Trends 178 - 180

— Transportation Sector Unmet Market Needs 181

— Structural Adhesives in Transportation 182 - 189

— Transportation Sealants (including Key Decision Criteria) 190 - 194

— Automotive OEM Profile & Dynamics 195 - 225

— Auto & Light Truck Trends & Drivers and Growth Forecasts thru 2020 226 - 238

— Bus, Truck, Trailer, RV, Rail Market Dynamics 239 - 245

— Bus, Truck, Trailer, RV, Rail Trends & Drivers in NA 246 - 249

— Bus & Coach Profile & Dynamics 250 - 253

— Medium & Heavy-Duty Truck Profile & Dynamics 254 - 260

TABLE OF CONTENTS

23


Section Title Page

— Trailer Profile & Dynamics 261 - 276

— Rail Profile & Dynamics 277 - 285

— Aerospace & Defense Profile & Dynamics 286 - 287

— Tractors & Heavy Equipment Profile & Dynamics 288

— Automotive OEM Hot Melt Adhesive Market 289 - 293

PAPER, BOARD & RELATED PRODUCTS SECTOR 290 - 345

— Key Decision Criteria 291 - 292

— Commoditization 293

— NA Paper, Board & Related Products (& Flexible Packaging) Adhesives Demand in 2017 294

— NA Trends, Drivers & Dynamics 299 - 328

— Unmet Market Needs 329 - 331

— Technology Dynamics 332 - 333

TABLE OF CONTENTS

24


Section Title Page

— Hygiene Trends, Drivers and Dynamics 334 - 338

— Hygiene Unmet Market Needs 339 - 342

— Graphic Arts Trends, Drivers and Dynamics 343 - 349

ASSEMBLY OPERATIONS SECTOR 350 - 423

— Market Profile & Dynamics 351

— NA Assembly Operation Adhesives Demand in 2017 352 - 354

— Trends, Drivers and Dynamics (including Key Decision Criteria) 355 - 366

— Structural Insulated Panels (SIPS) in Assembly 367 - 372

— Structural Adhesives in Assembly (including technology disruptors) 373 - 381

— Sandwich Panels in Assembly 382 - 385

— Electronics / Electrical in Assembly (including global demand breakdown by region) 386 - 413

— Adhesives for Medical Assembly Applications 414 - 421

TABLE OF CONTENTS

25


Section Title Page

— Assembly Operations Sector Conclusions 422 - 423

WOODWORKING & JOINERY ADHESIVES SECTOR 424 - 461

— Woodworking Market Demand in 2017 425

— Macro Trends & Growth Drivers 426 - 432

— Windows/Doors 433 - 449

— Regulatory Drivers 450 - 453

— Market Trends, Drivers and Dynamics by Application 454 - 459

— Unmet Market Needs 461

BUILDING AND CONSTRUCTION SECTOR 462 - 706

— Market Overview 463

— Addressable Market in NA (2017) 464 - 466

— Unmet Market Needs 468

TABLE OF CONTENTS

26


Section Title Page

— Building & Construction Market Trends, Drivers and Dynamics 469 – 478

— Technology Dynamics 480

— Construction Composites 481 - 486

— Manufactured Housing / Modular Housing Trends & Drivers 487 - 493

— NA Roofing Market Overview 494 - 517

— Structural Adhesives in Roofing Applications 519

— NA Flooring Market Overview 520 - 538

— Structural Adhesives in Flooring Applications 540

— Civil Engineering Executive Summary 541 - 543

— Civil Engineering / Infrastructure Addressable Market 544 - 546

— NA Competitive Landscape in Civil Engineering 547 - 548

— Civil Engineering Critical Market Factors 549 - 560

TABLE OF CONTENTS

27


Section Title Page

— Civil Engineering Adhesives Value Chain 562

— Structural Adhesives in Civil Engineering 563 - 565

— FRP Wrap Market Dynamics 566 - 576

— FRP Wrap Customer Dynamics 577 - 579

— FRP Wrap Unmet Market Needs 580

— FRP Wrap Standards, Codes & Guides 581 - 588

— FRP Wrap Competitive Dynamics 590

— Chemical Anchors Market Dynamics 591 - 596

— Chemical Anchors Competitive Landscape 597 - 598

— Bonding & Concrete Crack Repair Market Dynamics 599 - 608

— Bonding & Concrete Crack Repair Competitive Landscape 609 - 610

— Elastomeric Concrete Market Dynamics 611 - 620

TABLE OF CONTENTS

28


Section Title Page

— Elastomeric Concrete Test Methods and Specifications 621 - 627

— Elastomeric Concrete Competitive Landscape 628 - 629

— Epoxy Chock/Grout Market Dynamics 630 - 642

— Epoxy Chock/Grout Test Methods and Specifications 643 - 645

— Epoxy Chock/Grout Customer Dynamics and Unmet Market Needs 646 - 648

— Epoxy Chock/Grout Competitive Landscape 649 - 650

— Polyurethane Grout Market Dynamics 652 - 672

— Polyurethane Grout Industry Standards & Specifications 673 - 677

— Polyurethane Grout Customer Dynamics 678 - 682

— Polyurethane Grout Competitive Landscape 683 - 684

— Manhole/Sewer Rehabilitation using Polyurethane Grout (Market Dynamics) 685 - 692

— Polyurethane Grout in Minor Applications (Railroad) 692 - 694

TABLE OF CONTENTS

29


Section Title Page

— Insulated Glass (IG) Sealants Market in Building & Construction 695 - 703

— IG Technology Trends in NA 704

— IG Growth Prospects (2017 – 2020) 705

— IG Competitive Landscape in NA 706

CONSUMER/DIY ADHESIVES AND SEALANTS SECTOR 707 - 738

— DIY Demand and Technology Share 708 - 709

— DIY Trends & Drivers 710 - 715

— Key DIY Sealant Applications and Chemistries 716 - 717

— Key DIY Decision-makers and Influencers 718

— DIY Macro Trends and Drivers 719 - 723

— DIY Retail Channel 724 - 738

FOOTWEAR & LEATHER ADHESIVES SECTOR 739 - 745

TABLE OF CONTENTS

30


Section Title Page

— Addressable Market 740 - 743

— Market Dynamics 744 - 745

MERGERS & ACQUISITIONS 746 - 769

CHANNELS & DISTRIBUTION 770 - 788

REGULATIONS UPDATE (2017 – 2020) 789 - 800

FEEDSTOCK & RAW MATERIALS VALUE CHAIN OVERVIEW 801 - 829

2017 MATRIX OF ADHESIVES AND SEALANTS MANUFACTURERS IN NA 830

TABLE OF CONTENTS

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CONFIDENTIAL...Epoxy Chock / Grout Competitive Landscape 650 Polyurethane Grout Competitive...

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