This issue of Adhesives & Sealants Industry magazine brings the ASI Top 25, our exclusive ranking of the top 25 worldwide manufacturers of adhesives and sealants. ASI combined reader survey information with details from company websites, annual reports and press releases to compile the rankings. Included with each company’s listing are contact information, estimated 2014 sales figures (if publishable), a company profile, and news highlights.
In some cases, revenue figures were provided by company representatives; all details were verified whenever possible. While our staff made every effort to seek out the top companies in the industry, some companies may have been inadvertently omitted. We will work throughout the year to provide any changes or updates for our online version of the ASI Top 25 and in next year’s ASI Top 25 issue. To include your company in our listing, please contact Editor Teresa McPherson at mcphersont@bnpmedia.com.
See the 2015 Top 25 list
1. 3M
3M Center
St. Paul, MN 55144-1000
Estimated 2014 revenue: $31.8 billion
3M applies science in collaborative ways to improve lives daily. While leading a broad range of markets—from health care and highway safety to office products, abrasives and adhesives, 3M’s 90,000 employees connect with customers all around the world. Full-year 2014 earnings were $31.8 billion, an increase of 3% from the year prior.
In early 2015, 3M announced that Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, named it a 2015 World’s Most Ethical Company® for the second time. The designation reportedly recognizes 3M’s impact on the way business is conducted through its efforts of fostering a culture of ethics and transparency at every level of the company.
Source: Company contact, press releases
2. Henkel AG & Co. KGaA
40191 Düsseldorf, Germany
Estimated 2014 revenue: ~ $17.74 billion (€16.428 billion)
Henkel operates worldwide in three business areas: Laundry & Home Care, Cosmetics/Toiletries and Adhesive Technologies. Adhesives, sealants and surface treatments from Henkel serve the transportation, electronics, aerospace, metal, durable goods, consumer goods, maintenance, and repair and packaging industries, with a range of products for the craftsman and consumer.
At €16.428 billion (~ $17.74 billion), sales in the fiscal year 2014 were slightly higher than in the previous year. Adjusted for negative foreign exchange effects of 4%, sales grew by 4.4%.
The Adhesive Technologies business unit reportedly continued its profitable growth trend again in 2014, outperforming the overall market with organic sales growth of 3.7%. At €8.127 billion (~ $8.778 billion), reported sales were slightly above the prior-year figure of €8.117 billion (~ $8.767 billion).
In 2014, Henkel announced it had signed an agreement to acquire the Bergquist Co., a supplier of thermal management solutions for the electronics industry. In fiscal 2013, Bergquist reportedly generated sales of around €130 million (~ $165 million).
“With this acquisition—which is in line with our global strategy to invest in complementary leading technologies—we are strengthening our position as a global market and technology leader,” said Jan-Dirk Auris, executive vice president, Adhesive Technologies. “Bergquist’s track record in developing unique thermal management solutions fits with our commitment to provide best-in-class customized solutions.”
Source: Annual report, press releases
3. Huntsman
10003 Woodloch Forest Dr.
The Woodlands, TX 77380
Estimated 2014 revenue: $11.578 billion
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.
“2014 was a remarkable year for us; our differentiated businesses that include our MDI urethanes, Performance Products, Advanced Materials and Textile Effects collectively increased their adjusted EBITDA by more than $200 million,” said Peter R. Huntsman, president and CEO. “I am encouraged by the attractive growth profile of these businesses and expect them to perform even better in 2015.”
In late 2014, Huntsman Corp. inaugurated its new India corporate office in Andheri, Mumbai. The 220,000-sq-ft, seven-story building will initially house around 300 employees, including over 100 technical staff spread across three floors of state-of-the-art laboratory and research facilities.
Source: Annual report, press releases
4. Avery Dennison
Charles D. Miller Corporate Center
150 N. Orange Grove Blvd.
Pasadena, CA 91103-3596
Estimated 2014 revenue: $6.33 billion
Avery Dennison develops innovative solutions for the global adhesives market. The company specializes in pressure-sensitive technology and self-adhesive office and consumer products.
In November 2014, Avery Dennison announced that its board of directors elected Mitchell R. Butier president and chief operating officer (COO). Butier was previously senior vice president and chief financial officer (CFO). As COO, Butier will be responsible for the company’s operations, with all business unit leaders reporting to him.
Source: Annual report, press releases
5. Dow Corning Corp.
Corporate Center
P.O. Box 994
Midland, MI 48686-0994
Estimated 2014 revenue: $6.22 billion
Dow Corning provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicones, silicon-based technology and innovation, the company offers more than 7,000 products.
In May 2015, Dow Corning received a patent from the Korean Intellectual Property Office (KIPO) for its high refractive index (RI) phenyl-based optical silicone encapsulant technology, which targets advanced LED lighting applications. The patent reportedly protects the composition of curable organopolysiloxane chemistry used to formulate Dow Corning® optical encapsulant products.
Source: Company website, press release
6. Sika AG
Zugerstrasse 50
6341 Baar, Switzerland
Estimated 2014 revenue: ~ $5.98 billion (5.57 billion CHF)
Sika AG supplies the building, construction industry and manufacturing industries with products for sealing, bonding, damping, reinforcing, and protecting load-bearing structures.
Sales for the full-year 2014 rose by 13% to CHF 5.57 billion (~ $ 5.98 billion), thus reportedly exceeding growth targets. All regions contributed to this growth and set new sales records.
Sales in the EMEA (Europe, Middle East, Africa) region increased by 13.3% in the fiscal year. Visible growth drivers in the Middle East and Africa, and the moderate recovery seen in the southern European markets, reportedly had a positive impact on the region’s development. North America recorded a 7.9% increase in sales. Construction projects that had been shelved in recent years are reportedly now being implemented, and a greater number of investments are being made in infrastructure projects and commercial buildings.
The Asia-Pacific region grew by 12.8%, achieving sales of over CHF 1 billion ($1.073 billion) for the first time. The majority of countries achieved double-digit growth rates and increased their market share. At 15.9%, sales growth remained consistently high in Latin America in 2014. In a demanding business environment, Sika reportedly benefited from its strong market presence.
Source: Company contact, press releases
7. Wacker Chemie AG
Hanns-Seidel-Platz 4
81737 München
Germany
Estimated 2014 revenue: ~ $5.17 billion (€4.83 billion)
Wacker is a globally active chemical company with some 16,000 employees. Spanning the globe with five business divisions, the company currently operates 25 production sites worldwide. Wacker has 21 subsidiaries and 48 sales offices in 29 countries worldwide.
In 2015, Avery Dennison recognized WACKER and Swedish specialty paper manufacturer Munksjö with the Best Supplier Sustainability award for their joint efforts in developing a low-platinum solution for silicone release liners. The silicone coating reportedly ensures that self-adhesive labels can easily be removed. In addition, Wacker was named Bosch’s Preferred Supplier in the elastomers and thermosetting plastics materials group. Wacker reportedly scored top marks in the categories of quality, logistics, innovation and strategic collaboration.
Source: Company contact, press release
8. RPM International Inc.
2628 Pearl Rd.
P.O. Box 777
Medina, OH 44258
Estimated 2014 revenue: $4.38 billion
RPM International Inc. is a holding company with subsidiaries that are world leaders in specialty coatings, sealants, building materials, and related services that focus on both industrial and consumer markets. Companies in its industrial products group, which brought in 65% of sales in 2013, include Tremco and Universal Sealants, while DAP, Rust-Oleum and others serve the consumer sector and earned the remaining 35% of sales last year.
Fiscal 2014 consolidated net sales rose 7.3%, from $4.08 billion in fiscal 2013 to $4.38 billion. On an as-reported basis, consolidated EBIT was up 95.5%, from $250.6 million in fiscal 2013 to $489.7 million. Net income increased 195.8%, from $98.6 million in fiscal 2013 to $291.7 million.
In April 2015, RPM made two UK acquisitions. The company’s tremco illbruck Group acquired Firetherm Intumescent & Insulation Supplies Ltd., a supplier of fire-stopping solutions for the construction industry. Based in Kent, near London, Firetherm has annual net sales of approximately $10 million. In addition, RPM’s RPM2 Group acquired Morrells Woodfinishes Ltd., reportedly the UK’s largest manufacturer of high-performance wood finishes. Based outside of Manchester, Morrells has annual net sales of approximately $33 million and nearly 150 employees. The company will remain a stand-alone operation within RPM2’s Wood Finishes Group.
Source: Press releases
9. MAPEI
1144 E. Newport Center Dr.
Deerfield Beach, FL 33442
For more than 75 years, MAPEI has produced adhesives and sealants for the building industry. The company currently operates production facilities in 31 countries on five continents. In 2015, MAPEI introduced Elastocolor decorative and protective coatings into its markets in the Americas.
Source: Company contact
10. H.B. Fuller
P.O. Box 64683
1200 Willow Lake Blvd.
St. Paul, MN 55164-0683
Estimated 2014 revenue: $2.1 billion
H.B. Fuller provides adhesives, sealants and other specialty chemical products for markets and applications including packaging, building and construction, paper converting, woodworking adhesives, general assembly adhesives and laminates, person hygiene and nonwovens, tile and floor adhesive products, and polymers.
Net income for the 2014 fiscal year was $49.9 million, compared to income from continuing operations of $96 million in the 2013 fiscal year. Adjusted total diluted earnings per share in the 2014 fiscal year were $2.331, down 10% from the prior year’s result of $2.581.
Net revenue for the 2014 fiscal year was $2.1 billion, up 2.8% vs. the 2013 fiscal year. Higher volume positively impacted net revenue growth by 3.5 percentage points. Lower average selling prices and foreign currency translation negatively impacted net revenue growth by 0.4 and 0.3 percentage points, respectively. Organic revenue grew by 3.1% year-over-year.
In 2014, H.B. Fuller Co. acquired ProSpec® Construction Products, a provider of tile and stone installation products. The acquisition reportedly supports H.B. Fuller’s growth strategy by strengthening its customer profile in the Southeastern and Western regions of the U.S. ProSpec had 2013 net revenue of $27 million.
In early 2015, H.B. Fuller finalized its purchase of Continental Products Ltd., a provider of industrial adhesives to the East and Central Africa markets, and TONSAN Adhesive Inc., reportedly the largest independent engineering adhesives provider in China.
Source: Company website, press releases
11. Dow Automotive Systems
1250 Harmon Rd.
Auburn Hills, MI 48326
Estimated 2014 revenue: $2.8 billion
Dow Automotive Systems is a technology-driven solutions provider offering products and technologies that bolster safety and health performance, improve energy efficiency, and enhance quality and appeal, while reducing manufacturing costs. Dow Automotive and related businesses had estimated 2014 revenue of $2.8 billion.
Dow Automotive Systems’ BETAMATE™ structural adhesives were named a silver winner by the 2015 Edison Awards, an annual event recognizing products and people that deliver game-changing industry innovations. Nominees are evaluated on concept, value, delivery, and impact. In addition, BETAMATE 1630 structural adhesive was selected as the winner of a 2015 Golden Mousetrap award in the category of Materials Assembly: Fastening, Joining and Assembly Components. The program recognizes design, engineering, and manufacturing in North America and was hosted by UBM Canon and Design News.
Source: Company contact, company website
12. Illinois Tool Works Inc.
3600 West Lake Ave.
Glenview, IL 60026
Estimated 2014 revenue, Polymers & Fluids business segment: $1.927 billion
Illinois Tool Works Inc. (ITW) is a diversified manufacturer of highly engineered components and industrial systems and consumables. The company’s Polymers & Fluids business segment includes adhesives, sealants, lubrication and cutting fluids, janitorial and hygiene products, and fluids and polymers for auto aftermarket maintenance and appearance; its businesses and brands include Plexus, Permatex, TACC, and Schnee-Morehead. Operating revenues for the business segment were $1.927 billion, compared to $1.993 billion in 2013.
Source: Company website
13. Bostik SA
Immeuble Le Jade
253 Avenue du President Wilson
F-93211 La Plaine Saint-Denis, France
Estimated 2014 revenue: ~ $1.673 billion (€1.533 billion)
Bostik manufactures and supplies adhesives and sealants for markets including personal care and hygiene, construction, transportation, packaging, and industrial assembly.
On February 2, 2015, Arkema finalized the acquisition of Bostik, which reported €1.533 billion (~ $1.673 billion) in sales and €158 million (~ $177 million) EBITDA in 2014. This acquisition is reportedly consistent with the group’s strategy to expand in specialty chemicals and continue developing its High Performance Materials segment, of which Bostik will represent a new business unit.
Source: Company website
14. LORD Corp.
111 Lord Dr.
Cary, NC 27511-7923
Estimated 2014 revenue: $890 million
LORD Corp. is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices, and sensing technologies that significantly reduce risk and improve product performance. For more than 90 years, LORD has worked in collaboration with its customers to provide innovative oil and gas, aerospace, defense, automotive, and industrial solutions.
With world headquarters in Cary, N.C., and 2014 revenues in excess of $890 million, LORD has more than 3,100 employees in 26 countries and operates 17 manufacturing facilities and nine R&D centers worldwide. LORD actively promotes STEM education and many other community engagement initiatives.
In 2014, LORD celebrated 90 years in business. Initially employing a staff of six, the company now has more than 3,000 employees in 26 countries. Building on the founders’ core beliefs in innovation, employee safety and well-being, integrity, and ethical behavior, the company collaborates with its customers to improve the performance of their products and commercialize groundbreaking technologies.
Source: Company contact, press release
15. Royal Adhesives & Sealants
2001 W. Washington Ave.
South Bend, IN 46628
Parent company: Royal Holdings Inc.
Estimated 2014 revenue: $600 million
Royal Adhesives & Sealants is a manufacturer and marketer of high-performance adhesives, sealants, encapsulants, and specialty polymers used in a variety of markets, including aerospace and defense, automotive, recreational vehicle, bus, truck and trailer, marine, assembly, electrical/electronic, filter, printing, packaging and laminating, roofing, and flooring.
In 2014, Royal Adhesives & Sealants LLC announced that Royal Adhesives and Sealants Canada LTD would acquire substantially all of the assets of Chemque. Based in Toronto, Chemque is a supplier of polyurethane foams and adhesives to the telecom, flooring, and construction markets.
“We continue to identify leading niche companies that will enhance our product offerings to the markets in which we have chosen to compete,” said Ted Clark, CEO of Royal. “The addition of Chemque will broaden our technical capability for polyurethane adhesives, potting compounds and foams.”
In January 2015, Royal Adhesives & Sealants LLC completed its acquisition of the assets of Advanced Polymers International (API) from PCI Paper Conversions Inc. (PCI). API manufactures microsphere-based repositionable adhesives.
In April 2015, Royal Holdings Inc., a portfolio company of Arsenal Capital Partners, announced that it has acquired the stock of Chemical Innovations Ltd. (CIL) from Vita (Group) Unlimited through its Kommerling UK Ltd. subsidiary. Based in Preston, UK, CIL is a leading developer and manufacturer of high-performance rubber-to-metal, rubber-to-plastic, rubber-to-fabric and rubber-to-glass bonding adhesives for high-performance automotive and industrial applications.
In June 2015, Arsenal Capital Partners announced it had completed the sale of portfolio company Royal Adhesives and Sealants LLC to American Securities LLC.
Source: Company contact, press releases
16. Mactac
4560 Darrow Rd.
Stow, OH 44224
Mactac is a global leader in the manufacture and supply of pressure-sensitive adhesives. With manufacturing and distribution facilities in 14 countries and a strong presence and base in North America, the company serves industries including labeling, packaging, assembly engineering, solar, automotive assembly, medical device assembly, graphic design, digital imaging, and more.
In 2014, Bemis Co. Inc. announced it had reached an agreement to sell Mactac to Platinum Equity, a California-based private equity firm, for a purchase price of $170 million. Proceeds of the sale were intended to fund the growth of Bemis’ flexible packaging business.
Source: Company contact
17. Jowat Corp.
5608 Uwharrie Rd.
Archdale, NC 27263
Parent company: Jowat SE
Estimated 2014 revenue: $340 million
The Jowat Corp. was established in 1979 as a subsidiary of Jowat SE (established in 1919). The company manufactures adhesives used in industrial applications, including wood and furniture, paper and packaging, construction, structural wood, upholstery, mattress and foam converting, graphics and bookbinding, automotive, textile, and assembly.
In May 2015, Jowat SE opened a new plant in Balakong, Malaysia. The new plant in the Industrial Park Bandar Enstek was built on an area of approximately 45,000 sq m that is reportedly a favorable location for logistic reasons, since it is located near the Kuala Lumpur airport. With a staff of 80 employees, the plant is intended to function as a regional center for manufacture, applications and R&D, covering substantial parts of the company’s entire production portfolio.
Source: Company contact, press release
18. Franklin International
2020 Bruck St.
Columbus, OH 43207
Franklin International manufactures adhesives for the domestic and global wood furniture, millwork, construction and engineered-lamination markets. It also provides pressure-sensitive adhesives for office products and food packaging, and specialty polymers to various companies to formulate or use them in fiberglass, filter fabrication and nonwovens.
Source: Company contact
19. Wisdom Adhesives Worldwide
1575 Executive Dr.
Elgin, IL 60123
Wisdom Adhesives Worldwide is a leading global manufacturer of packaging and converting adhesives. Wisdom Adhesives Worldwide formulates and manufactures water-based resins, dextrins, hot-melt EVAs and metallocenes, PEs and PSAs; and protein adhesives and reactive products.
Founded in 1875 by Philip Wisdom, Wisdom Adhesives Worldwide is the longest continuously operating adhesives manufacturer in the world and has company leadership headed by five consecutive generations of the Wisdom family.
Source: Company contact
20. DELO Industrial Adhesives
144 North Road, Ste. 2650
Sudbury, MA 01776
Estimated 2014 revenue: $93.174 million (90% adhesives sales, 10% sealants sales)
The year 2014 was an outstanding year for DELO, according to Robert Saller, director of Sales International. “We achieved sales revenues of more than $90 million,” he said. “This was a 24% increase over the previous year’s figures. The strongest growth in revenue was recorded in the U.S. and China. Our three key markets—electronics, automotive and optical industry—helped drive growth in 2014. Revenues in the automotive industry grew by 22%, while sales of adhesives for electronic applications in smart phones, smart cards, RFID tags and semiconductors rose by more than 60%.
“We intend to achieve a ‘triple-15’ in 2015: Our revenues are projected to increase by 15%, our workforce should grow at this rate as well, and R&D is projected to realize 15% share in revenues. This will also involve the expansion of our international structures.”
Source: Company contact
21. The Reynolds Co.
10 Gates St.
Greenville, SC 29611
Parent company: Itochu Chemicals International
The Reynolds Co. is a manufacturer of water-based, hot-melt and dry-blended adhesives. The company also performs customized, contract or “toll” blending, as well as private labeling.
Source: Company contact
22. Uniseal Inc.
1014 Uhlhorn St.
Evansville, IN 47710
Parent company: Koch Enterprises Inc.
Uniseal develops application-based adhesive and sealant solutions to meet the unique needs of its automotive OEM customers and customers in other industries. Products are supplied globally for use in the automotive, heavy truck and trailer, agricultural and heavy equipment, and general industrial markets.
Source: Company contact
23. Sashco
10300 E. 107th Pl.
Brighton, CO 80601
Founded in 1936, Sashco manufactures high-quality sealants and finishing products for conventional, log, and wood structures.
Source: Company contact
24. Evans Adhesive Corp. Ltd.
925 Old Henderson Rd.
Columbus, OH 43220
Parent company: Evans Capital Corp.
Evans Adhesive Corp. was founded in 1900 and incorporated in 1902 as The Commercial Paste Co. It has been in the Evans family since 1920. With headquarters in Columbus, Ohio, and additional manufacturing facilities in Rancho Cucamonga, Calif., Evans is one of America’s leading manufacturers of industrial adhesives. Evans is one of only two U.S.-based adhesive manufacturing companies to have a diversified or minority spend certification (WBENC).
Source: Company contact
25. Yokohama Industries
Americas Inc.
103 Kuhlman Dr.
Versailles, KY 40383
Parent company: Yokohma Rubber Co. Ltd.
In 1989, Yokohama Hydex established YH America to meet the ever-growing demands of U.S. automakers. YH America’s Sealant Division, located in Versailles, Ky., is a global supplier of high-performance glass bonding adhesive systems to the transportation industry. YH America Inc. (Sealant Division) changed the company name to Yokohama Industries Americas Inc. (Sealant Division) in April 2014.
Source: Company contact
2017 ASI Top 25: Leading Worldwide Manufacturers of Adhesives and Sealants
Our exclusive annual ranking of the leading 25 adhesives and sealants manufacturers worldwide.
