North America adhesives and sealants market is expected to register a CAGR of less than 5% during the forecast period. 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.
- Building and Construction segment is expected to dominate the consumption of adhesives and sealants market in the region.
- Development of renewable resources as an alternative to petroleum-derived chemicals is expected to act as an opportunity in the future.
- 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.
Key Market Trends
Increasing Demand from the Electronics Industry
- Electronics industry stands to be one of the fastest growing segment, 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, have been driving the growth of 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 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 rapid pace of innovation and advancement of technology in countries like United Sates and Canada.
- Hence, with continuous innovation and development of new electronic products in the region, the electronics segment demand for adhesives and sealants is expected to increase over the forecast period.
United States to Dominate the Market
- 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 the growth in the studied 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, flexible packaging market is growing at a faster pace, as it make products products more convenient and safer for consumers.
- Moreover, the continuous R&D activities and rapid pace of innovation leading to 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.
The North American adhesives and sealants market is consolidated. The major companies include 3M, Arkema Group, Sika AG, HB Fuller Company, and Henkel AG & Co. KGaA, amongst others.
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