Market Trends of North America Acrylic Adhesives Industry
This section covers the major market trends shaping the North America Acrylic Adhesives Market according to our research experts:
Packaging Industry to Dominate the Market
- The packaging industry dominates the consumption of acrylic adhesives, as they are widely useful in the manufacturing of various products, such as tapes, cases, labels, and cartons.
- In North America, countries such as United States, Canada and Mexico have strong dependency on processed and packaged food.
- Further, growing e-commerce, online food deliveries, and innovation and development related to product packaging have been influencing the demand for packaging materials in the region.
- However, flexible packaging segment of the packaging industry is witnessing strong growth in food and consumer goods industry, owing to its lightweight and ease of handling benefits.
- Hence, all such trends influencing the demand for packaging materials are further increasing the consumption of acrylic adhesives in packaging industry.
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United States to Dominate the Market
- United States dominate the consumption of acrylic adhesives in the region. Strong growth of packaging industry, innovation and development of advanced electronics and growing e-commerce industry have been significantly contributing to the demand for acrylic adhesives in the country.
- In the United States, the packaging industry is estimated to witness a CAGR of around 5%, by revenue, during the forecast period. The flexible packaging market is growing at a faster pace, owing to its benefits, such as easy handling, compact packaging, and light weight.
- The changing trends in consumer behavior and manufacturers' ease in convenience are resulting in faster growth of the flexible packaging market in the country, which is further benefiting the market studied.
- Further, the United States electronics market stands to be the largest in the world in terms of size. The usage of advanced technology, an increase in the number of R&D centers, and development of advanced technology in the country is expected to drive the growth of electronics industry in the country, which is further expected to drive the demand for acrylic adhesives over the forecast period.
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