Market Trends of North America Polyurethane (PU) Adhesives Industry
This section covers the major market trends shaping the North America Polyurethane Adhesives Market according to our research experts:
Building and Construction Industry to Drive the Market Demand
- Among end-user industries, building and construction segment dominates the consumption of PU adhesives in the region.
- PU adhesives have rapid curing and low strength properties, making it an excellent choice for woodworking and other construction applications. They provide high strength required to hold construction materials together.
- Besides, this material is versatile, when it comes to product assembly adhesives. It suits plastics, glass, PVFs, aluminum, stainless steel, and other metals, regardless of the toughness of bond substrates.
- In North America, countries, such as United States, Canada, and Mexico have numerous construction projects in either planning or development phase. For instance, United States have numerous airports, stadiums, and entertainment city projects under planning or construction phases.
- Similarly in Canada, Quebec government has planned to investment on renovation and refurbishment projects over the next one decade.
- Hence, all such trends in construction industry which is likely to propel the consumption of PU adhesives in the region.
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United States to Dominate the Market
- United States stands to be the largest market for PU adhesives in the region, owing to the presence of largest automobile, aerospace, healthcare packaging and electrical and electronics market in the country as compared to other countries in the region.
- The healthcare sector is by far one of the most advanced sectors in the country. The increasing geriatric population and the mounting requirement for medical facilities for the treatment of chronic diseases have been supporting the growth of the healthcare sector and the consumption of polyurethane adhesives in various medical devices in the country.
- United States has the largest aerospace industry in the world. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US main-liner carrier fleet is expected to grow at a rate of 54 aircraft per year due to the existing fleet getting older.
- Hence, the presence of strong production base and such growth prospects in the end-user industries are expected to drive the consumption of PU adhesives in the country.
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