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The North American adhesives and sealants market is expected to register a CAGR of more than 5.25% during the forecast period (2022-2027).
The COVID-19 pandemic had a negative impact on the market, but it is projected to grow steadily in the forecast period owing to growth in automotive and construction activities across the region.
- The major factors driving the market studied are the growing demand for composites joints and construction projects under development in the region.
- However, the strict regulations on the usage of VOC-free contents are expected to hinder the growth of the market studied.
- The development of renewable resources as an alternative to petroleum-derived chemicals is expected to act as an opportunity in the future.
- The United States is expected to dominate the demand for adhesives and sealants market, where the consumption is likely to be majorly driven by sectors such as construction, automotive, and electronics segments.
Scope of the Report
Adhesives are made from a combination of resins, additives, and solvents. The composition of the resins and additives entirely depends on the end use to which they are put to. The North American adhesives and sealants market is segmented by adhesive technology, sealant product type, end-user industry, and geography. By adhesive technology, the market is segmented into water-borne, solvent-borne, reactive, hot melt, and other adhesive technologies. By sealant product type, the market is segmented into silicone, polyurethane, acrylic, polyvinyl acetate, and other sealant product types. By end-user industry, the market is segmented into building and construction, paper, board, and packaging, transportation, woodworking and joinery, footwear and leather, healthcare, electrical and electronics, and other end-user industries. The report also covers the market size and forecasts for the market in the United States, Canada, Mexico, and Rest of North America. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton) and revenue (USD million).
|Sealant Product Type|
|Other Sealant Product Types|
|Building and Construction|
|Paper, Board, and Packaging|
|Woodworking and Joinery|
|Footwear and Leather|
|Electrical and Electronics|
|Other End-user Industries|
|Rest of North America|
Key Market Trends
The Electronics Industry to Observe the Highest Growth
- The electronics industry stands to be one of the fastest-growing segments among all the end-user industries of adhesives and sealants.
- The booming demand for personal electronic devices, such as smartphones, household, audio, video, and electronic components, among others, has been driving the growth of the electronics industry in the region.
- The ability of adhesives and sealants to cure at room temperature and their compatibility with electronic devices are some of the requirements of the electronics industry.
- High-performance adhesives and sealants with temperature and oxidation resistance are highly preferred for this purpose.
- The demand for newer and faster electronic products stands to be high in the region owing to the rapid pace of innovation and advancement of technology in countries like the United States and Canada.
- Hence, with continuous innovation and development of new electronic products in the region, the electronics segment's demand for adhesives and sealants is expected to increase over the forecast period.
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The United States to Dominate the Market
- The United States is the largest market for adhesive and sealants market in North America. The end-user industries, such as construction, electronics, automotive, and packaging, are expected to drive growth in the market over the forecast period.
- The country holds the largest packaging market in the region and is expected to reach a market value of USD 315.3 billion by 2025.
- Among the different types of packaging, the flexible packaging market is growing at a faster pace as it makes products more convenient and safer for consumers.
- Moreover, the continuous R&D activities and rapid pace of innovation leading to the advancement of technology in the electronics industry drive the demand for advanced and faster electronic products in the country.
- There has been a spur in the number of manufacturing plants and development centers in the United States, focusing on high-end products, which, in turn, is expected to boost the consumption of adhesives and sealants over the forecast period.
- Hence, the United States is expected to dominate the market.
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The North American adhesives and sealants market is consolidated. The major companies (in no particular order) include 3M, Arkema Group, Sika AG, HB Fuller Company, and Henkel AG & Co. KGaA, amongst others.
- In January 2021, Huntsman Corporation completed the acquisition of Gabriel Performance Products (Gabriel), a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants, and composite end-markets, from Audax Private Equity.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Report
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growth in the Number of Construction Projects
4.1.2 Rising Demand in Composites Joints
4.1.3 Increased Design Flexibility
4.2.1 Strict Regulations on the Usage of VOC-free Contents
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Adhesive Technology
22.214.171.124 Polyvinyl Acetate (PVA) Emulsion
126.96.36.199 Ethylene Vinyl Acetate (EVA) Emulsion
188.8.131.52 Polyurethane Dispersion and CR (Chloroprene Rubber) Latex
184.108.40.206 Other Water-borne Adhesives
220.127.116.11 Chloroprene Rubber
18.104.22.168 Poly Acrylate (PA)
22.214.171.124 Styrenic Block Copolymers
126.96.36.199 Other Solvent-borne Adhesives
188.8.131.52 Modified Acrylic
184.108.40.206 Other Reactive Adhesives
5.1.4 Hot Melt
220.127.116.11 Ethylene Vinyl Acetate
18.104.22.168 Styrenic Block Copolymers
22.214.171.124 Thermoplastic Polyurethane
126.96.36.199 Other Hot Melt Adhesives
5.1.5 Other Technologies
5.2 Sealant Product Type
5.2.4 Polyvinyl Acetate
5.2.5 Other Sealant Product Types
5.3 End-user Industry
5.3.1 Building and Construction
5.3.2 Paper, Board, and Packaging
5.3.4 Woodworking and Joinery
5.3.5 Footwear and Leather
5.3.7 Electrical and Electronics
5.3.8 Other End-user Industries
5.4.1 United States
5.4.4 Rest of North America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Arkema Group
6.4.4 Avery Dennison Corporation
6.4.5 Beardow Adams
6.4.9 Dymax Corporation
6.4.10 Franklin International
6.4.11 H.B. Fuller Company
6.4.12 Henkel AG & Co. KGaA
6.4.13 Huntsman International LLC
6.4.14 ITW Performance Polymers (Illinois Tool Works Inc.)
6.4.15 Mapei Inc.
6.4.16 Master Bond Inc.
6.4.17 MUNZING Corporation
6.4.18 Pidilite Industries Ltd
6.4.19 Sika AG
6.4.20 Wacker Chemie AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Innovation and Development of Bio-based Adhesives
7.2 Other Opportunities
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Frequently Asked Questions
What is the study period of this market?
The North America Adhesives and Sealants Market market is studied from 2017 - 2027.
What is the growth rate of North America Adhesives and Sealants Market?
The North America Adhesives and Sealants Market is growing at a CAGR of >5.25% over the next 5 years.
Who are the key players in North America Adhesives and Sealants Market?
3M, Arkema Group, Sika AG, HB Fuller Company, Henkel AG & Co. KGaA are the major companies operating in North America Adhesives and Sealants Market.