The North America contact adhesives market is expected to witness a moderate CAGR during the forecast period (2018 - 2023).
The major factors driving the market are the growing demand from the automotive industry and the growth in the construction industry.
However, the stringent regulation regarding the VOC emissions is expected to hinder the market growth.
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3M, Arkema Group (Bostik SA), Delo Industrial Adhesives, H.B. Fuller, Helmitin Inc., Henkel Ag & Co.
Kgaa, Huntsman International Llc, ITW Performance Polymers (Illinois Tool Works Inc.), Jowat SE, Mapei , Pyrote, Sika AG, DowDuPont
Contact adhesives, owing to their excellent bond strength, temperature resistance (-40°C to +130°C), flexible bond (owing to elastomeric base), and high shear & peel strength, are becoming an integral part of various commercial and industrial sectors.
Growing Demand from Construction Industry is Driving the Market
The commercial construction in the United States has been growing in the form of offices, malls, restaurants,. Additionally, the construction of super-tall skyscrapers, measuring over 984 feet, is currently under construction in Chicago, Los Angeles, New York, and San Francisco, while other cities, like Boston, Austin, and Philadelphia, are also boosting the commercial construction activities in the United States.
In the commercial construction, the major growth was witnessed in the healthcare, commercial, and office buildings. The investment in transportation, communication, and power infrastructure has also witnessed growth in 2016 and 2017.
This will contribute to the demand for contact adhesives market in the region.
Furniture Industry the Dominant End User
The contact adhesives, owing to their characteristics and physical properties, are used in millwork, doors, and cabinetry made from wood as well as in laminated countertops. The different types of adhesives that are used for bonding furniture are polyurethane adhesives (used that to cure exposure to moisture and provide environmental resistance) and hot-melt adhesives (used for assembly work and for bonding decorative edging, they also increase structural bonding of wood and aid in joining wood with other materials).
The demand for furniture in the North American region is increasing due to the growth in the residential and commercial construction. Moreover, there is an increasing demand for rental furniture in the United States that is also contributing to the demand for contact adhesives in the region.
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Mexico Showing Positive Growth
Mexico, one of the developing economies in the world, is experiencing a growth in the furniture and automotive industries. The country witnessed positive growth in the furniture production and exports.
The country is experiencing a double-digit growth in furniture production. Moreover, the automotive production has also witnessed a year-on-year growth of 13% in 2017 when compared with 2016.
This is also expected to contribute to the market for contact adhesives during the forecast period.
Major Players: Henkel AG & Co. Kgaa, H.B. Fuller, 3M, Arkema, Sika AG, and DowDuPont Inc., among others.
Reason to Accessthis Report
To understand the impact in various end-user industries on the market
Analyzing the various perspectives of the market with the help of Porter’s five forces analysis
To identify the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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