Market Trends of North America Reactive Adhesives Industry
This section covers the major market trends shaping the North America Reactive Adhesives Market according to our research experts:
Renewable Energy Industry to Witness the Highest Growth Rate
- The consumption of renewable energy, especially wind energy has been significantly increasing across the North American region in the past few years.
- Wind energy offers many advantages over traditional energy sources which include unlimited & free energy, clean and non-polluting way to generate electricity. Unlike other types of power plants, it emits no air pollutants or greenhouse gases.
- Reactive adhesives are used to bond blades together. They offer a solution of reduced weight, as well as providing benefits in reduced assembly time and corrosion protection.
- The installed wind power capacity in the North American region has witnessed a significant growth in the recent years owing to the growing environmental consciousness.
- Hence, owing to the above-mentioned factors, wind turbines industry is likely to witness the highest growth rate during the forecast period.
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United States to Dominate the Market
- United States accounts for the highest share of the North America reactive adhesives market owing to the high demand from transportation, construction, and aerospace industries.
- United States is the second highest automotive manufacturer in the world. The high automotive manufacturing is resulting in high demand for reactive adhesives. However, in the recent past the declination of automotive production is negatively effecting the market studied.
- The construction industry has witnessed significant growth which is boosting demand for reactive adhesives in the country.
- According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet of the country is expected to reach 8,270 in 2037. This growth is likely to boost the market studied in the coming years.
- Hence, United States is expected to dominate the market studied during the forecast period.
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