The North America Adhesives and Sealants Market was valued at USD 10.41 billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of 5.50% during the forecast period from 2015 to 2020. Adhesives and sealants are often considered together, as they both are applied to the surfaces of materials to adhere and seal them together. They are generally in the liquid form, which are viscous in nature, with no or little flow characteristics. Adhesives are majorly chosen for their bonding and holding power and have high tensile and shear strength. Adhesives are of two types namely, structural (whose strength is vital for the success of the assembly) and non-structural adhesives (generally have low strength and are used to bond weak substrates and for temporary fastening). However, sealants are majorly selected for their ability to resist relative movement of the substrates, to fill gaps, and to contain or exclude another material. They have less strength compared to adhesives, but are more flexible in nature.
Adhesives and sealants, owing to their ability to bind different material together by distributing stress more efficiently across the joint, is becoming an integral part of various commercial and industrial sectors. In the Adhesives and Sealants market report, we have taken the following major end-user sectors into consideration: Building and Construction, Paper, Board, and Packaging, Transportation, Woodworking and Joinery, Footwear and Leather, Assembly Operations, Medical, and Others. The Paper, Board, and Packaging segment accounted for about XX.XX% share of the North America Adhesives and Sealants market in 2015.
This market is driven by a number of factors, such as the accelerating demand from the automotive industry, increasing demand from the packaging industry, and shifting focus towards composites. However, this market faces certain drawbacks, such as high logistical costs and matured market conditions. These factors may act as a roadblock to the growth of the market.
The North America Adhesives market, on the basis of technology can be broadly segmented into water-borne adhesives, solvent-borne adhesives, reactive adhesives, hot melts adhesives, and others. These are again segmented according to the sub-segmentations of the technology. The North America Sealants market, on the basis of product type can be broadly segmented into silicone sealants, polyurethane sealants, plastisol sealants, emulsion sealants, and others.
The market has also been geographically segmented into United States, Canada, Mexico, and Rest of North America. In terms of market revenue in 2015, United States led the market with a share of XX.XX%. The booming packaging industry in the country, owing to the rapid growth in the demand for and consumption of packaged food, is offering numerous opportunities in the growth of the United States Adhesives and Sealants markets, in turn boosting the growth of North America Adhesives and Sealants market. However, high logistical costs has considerably hindered the growth of this market.
Furthermore, the recovering repair construction industry in the countries such as the US and accelerating demand for fuel efficient and lightweight vehicles (owing to growing environmental concerns and CAFÉ norms) will offer numerous opportunities in the growth of the North America Adhesives and Sealants Market. Some of the major companies dominating this market for its products, services, and continuous product developments are 3M, Dow Chemicals, Henkel AG & Co. KGaA, Avery Dennison, and Ashland Inc.
Key Deliverables in the Study