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The global market for coatings, adhesives, sealants, and inks is expected to grow.
Elmwood Park, New Jersey, USA -- According to the consulting firm Kusumgar, Nerlfi & Growney, in 2014, global consumption of coatings, adhesives, sealants, and inks (CASI) reached 54.1 million tons, with sales of $182.6 billion. An average annual growth of 5% is expected. The growth of coatings, adhesives, and sealants aligns with the overall trend, but the annual growth for inks is only 2%. Coatings are the largest sector within CASI, accounting for 69% of sales. Adhesives follow with 16%, then inks at 10%, and sealants at 5%.
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By comparing the consumption of coatings, adhesives, sealants, and inks in different regions and industries in 2014, the coatings industry accounted for 70% of consumption, leading the way, followed by adhesives at 19%. The Asia-Pacific region accounted for 46% of global CASI product consumption, with China accounting for 28% of global consumption of coatings, adhesives, sealants, and inks.
In 2014, construction applications accounted for 60% of global sales volume and 44% of sales revenue for coatings, adhesives, sealants, and inks products. Coatings accounted for 75% of construction consumption, primarily in architectural coatings. In terms of sales revenue, the automotive industry is the second largest end-use market for CASI products, accounting for 15% of sales revenue, with consumption volume ranking third at 8%.
Automotive coatings accounted for 80% of consumption and sales revenue, while packaging end-use applications accounted for 9% and 10%, respectively. Ink consumption and sales revenue accounted for 50% and 30%, respectively, while adhesives accounted for 44% of consumption and 28% of sales revenue.
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