U.S. Adhesive Exports Skyrocket to $2.7B

IndexBox has just published a new report: 'U.S. Adhesive Market. Analysis And Forecast to 2025'. Here is a summary of the report's key findings.

The U.S. adhesive market rose markedly to $15.9B in 2021, picking up by 8.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and intermediaries' margins, which will be included in the final consumer price). Over the period under review, consumption posted resilient growth. The most prominent rate of growth was recorded in 2018 when the market value increased by 12% against the previous year. Adhesive consumption peaked in 2021 and is likely to continue growth in the immediate term. 

U.S. Adhesive Production

In value terms, adhesive production rose remarkably to $16.7B in 2021. In general, production enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11% y-o-y. Adhesive production peaked in 2021 and is expected to retain growth in the immediate term. 

U.S. Adhesive Exports 

In 2021, shipments abroad of adhesives decreased by -0.4% to 539K tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 15% against the previous year. As a result, exports reached the peak of 596K tons. from 2015 to 2021, the growth exports remained at a lower figure. 

In value terms, adhesive exports surged to $2.7B in 2021. Overall, exports, however, recorded measured growth. As a result, exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (172K tons), Mexico (109K tons) and China (33K tons) were the main destinations of adhesive exports from the U.S., together comprising 58% of total volume. These countries were followed by Brazil, Panama, Vietnam, Germany, South Korea, Thailand and Costa Rica, which together accounted for a further 15%.

In value terms, Canada ($748M), Mexico ($621M) and China ($211M) appeared to be the largest markets for adhesive exported from the U.S. worldwide, together comprising 58% of total supplies. These countries were followed by Germany, Thailand, Vietnam, South Korea, Brazil, Costa Rica and Panama, which together accounted for a further 13%.

In 2007-2021, Vietnam recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average adhesive export price amounted to $5,040 per ton, increasing by 20% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Germany ($7,477 per ton), while the average price for exports to Panama ($1,249 per ton) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced more modest paces of growth.

U.S. Adhesive Imports

Adhesive imports into the U.S. skyrocketed to 327K tons in 2021, rising by 33% against 2020. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, adhesive imports surged to $1.1B in 2021. Over the period under review, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Canada (87K tons), Germany (70K tons) and Mexico (47K tons) were the main suppliers of adhesives imported to the U.S., together comprising 63% of total volume. China, the Netherlands, the UK, France, South Korea, Belgium, Estonia, Italy and Poland lagged somewhat behind, together comprising a further 27%.

In value terms, the largest adhesive suppliers to the U.S. were Germany ($263M), Canada ($220M) and Mexico ($107M), with a combined 54% share of total imports. China, South Korea, the UK, the Netherlands, France, Belgium, Italy, Estonia and Poland lagged somewhat behind, together accounting for a further 31%.

In terms of the main suppliers, Poland recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average adhesive import price stood at $3,357 per ton in 2021, dropping by -4% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($6,983 per ton), while the price for Mexico ($2,259 per ton) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Belgium, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform