Market Trends of North America Contact Adhesives Industry
This section covers the major market trends shaping the North America Contact Adhesives Market according to our research experts:
Building and Construction Industry to Drive the Market Demand
- Contact adhesives' properties such as good cohesion, adhesion and elasticity, high cohesive strength, flexibility, high elastic modulus of substrate, resistance from thermal expansion, environmental resistance from UV light, corrosion, salt water, rain, and other weathering conditions, makes it extensively useful for application in construction industry.
- They are mainly used in wooden flooring and artificial turf, owing to their property of strain crystallization.
- 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 contact adhesives in the region.
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United States to Dominate the Market
- United States stands to be the largest market for contact adhesives in the region, owing to the presence of largest aerospace, automobile, packaging and footwear market in the country, as compared to other countries in the region.
- 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.
- Residential construction in the country is further projected to have a growth of almost 6% during the forecast period, due to an increase in the construction of single and multiple family housing in the country. Hence, with such robust trend in residential construction segment in the country, the demand for contact adhesives is also expected to increase, rapidly.
- Hence, the presence of strong production base and such growth prospects in the end-user industries are expected to drive the consumption of contact adhesives in the country over the forecast period.
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