The North America adhesives and sealants market size is expected to gain momentum by reaching USD 19.35 billion by 2028 while exhibiting a CAGR of 4.2 % from 2021 to 2028. In its report titled "North America Adhesives and Sealants Market, 2021-2028," Fortune Business Insight mentions that the market stood at USD 14.00 billion in 2020.
The availability of sustainable and
greener adhesives positively promotes its market since it is safe for people's
health and the environment. The increasing consumption of such products reduces
the carbon footprint and contributes to the overall sustainability in different
packaging applications, such as bottle labeling, paper lamination, and carton
sealing. Moreover, water-based adhesives, such as animal glue and LD Davis, are
extremely safe for food packaging. These water-based adhesives are made of
gelatins that are used in the pharmacy industry to make capsules. Thus,
the market is expected to rise during the foreseeable years.
List of Key Market Players Profiled in Market
for North America Adhesive and Sealants
- Henkel Corporation
- Sika AG
- H.B. Fuller Company
- Evonik Industries
- Dow
- Wacker Chemie AG
- Arkema
- Pecora
- Momentive
- MBCC Group
- PPG Industries
- The Sherwin-Williams Company
- RPM International Inc.
What
does the Report Provide?
The market for North American adhesives and sealants provides
a detailed analysis of several factors, such as the key drivers and restraints
that will impact growth. Additionally, the report provides insights into the
regional analysis that covers different regions, contributing to the growth of
the market. It includes the competitive landscape that involves the leading
companies and the adoption of strategies by them to introduce new products,
announce partnerships, and collaboration that will further contribute to the
market growth.
Driving Factor
Rising Automotive Sector to Drive
Market Growth
The
rising disposable income has increased the demand for passenger cars, which
positively promotes adhesives and sealants market growth as car
manufacturers use sealants to protect the vehicle's surface and provide a
glossy effect. Moreover, the use of adhesives in the construction sector is
also promoting the market growth. Such adhesives are required in wide
applications such as fixing roof tiles, adhering to ceramic tiles, and drywall
laminations. Additionally, the growing demand for wood houses and flooring in
the U.S and its use in nonstructural and structural bonding is fueling the
market growth.
On the contrary,
some adhesives are considered dangerous as they are volatile. The U.S.
Environmental Protection Agency (EPA) reported that prolonged exposure to a
high VOC concentration causes nose and eye irritation, headache, breathing
difficulties, and long-term damage to the kidney and liver.
Read a Detailed
Summary of This Report: https://www.fortunebusinessinsights.com/north-america-adhesives-and-sealants-market-105576
COVID-19 Impact
The pandemic has caused irregularity in supply and demand.
Manufacturers faced loss, as there was a decline in refurbishment and
renovation activities during the outbreak. Construction and automotive business
were halted due to the unavailability of the working force and lack of raw
materials. However, the market is expected to regain its momentum during the
forecast period, as many nations can curb the spread of the virus.
Click here to get the short-term and long-term impact of
COVID-19 on this market.
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Regional Insights
Growing Awareness about Sustainable Packaging
in the U.S. to Fuel the Market
North America adhesives and sealants
market share in the United States stood at USD 11.88 billion in 2020. In North
America, demand for adhesive is rising owing to the inclination towards
flexible packaging. Additionally, demand for recyclable products has increased
in the region. As per the United States Environmental Protection Agency, in the
year 2019, the number of recycled packaging containers was 53.9 percent. Apart from its use in the
packaging industry, growing demand from construction, automotive &
transportation, packaging, and electronics industries, will augment the market
growth in the U.S. in foreseeable years.
Competitive Landscape
Key Players Focus on Launching
Innovative Products to Intensify Competition
The
market is consolidated by the presence of major companies striving to maintain
their position by expanding their services and launching new products in the
market. For instance, In February 2021, H.B. Fuller announced the launch
of high-performance adhesives with Swift tak 5730 grade. It will help to create
a safe consumer experience, and it is compatible with fast-moving
machines. Moreover, other key players are adopting proactive strategies
such as collaborations, acquisitions, mergers, and facility expansion to favor
the market's growth in the forthcoming years.
Industry Development
- April 2021: H.B. Fuller announced the launch of flexible packaging in the market. It came up with two compostable adhesive solutions, the Flextra Evolution brand, including SF1000CP/XR2000CP and WB1200CP/XR2200CP solutions.
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