North America Adhesives And Sealants Market Size to Exceed USD 26.03 Billion by 2033, with a Strong CAGR of 5.7%
The North America adhesives and sealants market size was exhibited at USD 14.95 billion in 2023 and is projected to hit around USD 26.03 billion by 2033, growing at a CAGR of 5.7% during the forecast period 2024 to 2033.
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North America Adhesives And Sealants Market Key Takeaways:
The growth is attributed to a confluence of factors such as advancements in chemical engineering, an uptick in manufacturing and construction activities, and a heightened demand for sustainable and high-performance materials. As industries seek more efficient and durable bonding solutions, the market is set to adhere to an upward path, sealing its importance in the fabric of North American commerce.
Regulations have a significant impact on the market in North America. For instance, the United States Environmental Protection Agency (USEPA) has enforced stringent regulations that have compelled manufacturers to produce eco-friendly products with no or low Volatile Organic Compound (VOC) levels. This is because VOCs contribute to air pollution, which can lead to health issues such as respiratory and cardiovascular diseases.
In response to these regulations, manufacturers are shifting towards the production of environmentally friendly adhesives and sealants. This shift, while aligning with the industry’s commitment to sustainability, has also created opportunities for companies to expand their business. However, it’s worth noting that these environmentally conscious alternatives often come at a higher cost, which can affect the profit margins of manufacturers.
North America Adhesives And Sealants Market By Adhesives Technology Insights
Water-based dominated the market with the highest revenue share of 23.5% in 2023. These are preferred due to their non-flammable nature, making them safer to handle and store. They find extensive applications in the packaging, construction, automotive, leather, and furniture industries. The demand for water-based adhesives in North America is driven by their environmental benefits and compliance with stringent regulations. The market for water-based adhesives is projected to witness the fastest growth, attributed to advancements in emulsion technology and the development of water-based inks and adhesives as sustainable alternatives to solvent-based systems.
North America Adhesives And Sealants Market By Adhesives Product Insights
Acrylic adhesives dominated the market with a revenue share of 36.7% in 2023. These adhesives are known for their excellent environmental resistance and fast-setting times, making them ideal for a wide range of applications. They are extensively used in industries such as packaging, construction, automotive, leather, and furniture. The increase in the number of construction projects, as well as the expansion of the packaging industry, are also driving demand for acrylic adhesives.North America Adhesives And Sealants Market By Adhesives Application Insights
The paper and packaging sector dominated the market with a revenue share of 29.4% in 2023. This dominance can be attributed to the extensive use of adhesives in various packaging applications, including carton sealing, labeling, and flexible packaging. The growth in e-commerce and the increasing demand for packaged food and beverages are likely to drive the demand for adhesives in this sector. Moreover, the shift towards sustainable packaging solutions is expected to further boost the market for adhesives in the paper and packaging industry.
North America Adhesives And Sealants Market By Sealants Product Insights
Silicones dominated the market with the highest revenue share of 34.0% in 2023. This dominance can be attributed to the extensive use of silicone sealants in various applications due to their excellent properties such as high flexibility, chemical stability, and weather resistance. Silicones are widely used in construction, automotive, and electronics industries. Moreover, the silicone segment is also projected to witness the fastest growth in the market. This is due to the growing need for silicone sealants in the rising construction industry, particularly in residential and commercial building projects.
Acrylic sealants are projected to witness the second-fastest growth in terms of revenue, with a CAGR of 6.2% from 2024 to 2033. Acrylic sealants are popular due to their easy application, paintability, and compatibility with most materials. They are widely used in sealing and bonding applications in the construction industry, such as in joints, cracks, and gaps in building components. The growth in this segment can be attributed to the increasing construction activities in North America and the growing demand for high-quality and durable sealants in the construction industry. Furthermore, the trend toward sustainable and green building practices is likely to fuel the demand for acrylic sealants.
North America Adhesives And Sealants Market By Sealants Application Insights
The construction sector dominated the market with the highest revenue share in 2023. This dominance can be attributed to the extensive use of sealants in various construction applications, including glazing, waterproofing, and insulation. The growth in the construction industry, particularly in residential and commercial building projects, is likely to drive the demand for sealants. Moreover, the shift towards sustainable construction practices and the increasing demand for energy-efficient buildings are expected to further boost the market for sealants in the construction industry.
The packaging segment is projected to witness the second-fastest growth in terms of revenue, with a CAGR of 7.9% from 2024 to 2033. Sealants play a crucial role in this industry, being used in a wide range of applications such as carton sealing, labeling, and flexible packaging. The growth in this segment can be attributed to the increasing demand for packaged food and beverages and the growth in e-commerce. Furthermore, the trend towards sustainable packaging solutions and the increasing need for tamper-evident and leak-proof packaging are likely to fuel the demand for sealants in the packaging industry.
Country Insights
In North American adhesives and sealants market, the U.S. holds the largest market share. Specifically, it accounts for around 83% of the total revenue in the adhesives market and around 80% in the sealants market. This dominance can be attributed to the extensive use of adhesives and sealants in various industries such as construction, automotive, and packaging that are thriving in the U.S. The growth in these industries, particularly in residential and commercial building projects, is likely to drive the demand for adhesives and sealants in the U.S.
Mexico Adhesives And Sealants Market Trends
Adhesives and sealants market in Mexico, on the other hand, is projected to witness the fastest growth in terms of revenue with a CAGR of 9.7% and 9.1% from 2024 to 2033, respectively. The growth in this country can be attributed to the increasing industrialization and the growth in the manufacturing sector. Furthermore, the trend toward sustainable and green manufacturing practices is likely to fuel the demand for adhesives and sealants in Mexico. The shift towards sustainable construction practices and the increasing demand for energy-efficient buildings are expected to further boost the market for sealants in Mexico.
North America Adhesives And Sealants Market Recent Developments
Some of the prominent players in the North America adhesives and sealants market include:
Reasons to Purchase this Report
Market dynamics scenario, along with growth opportunities of the market in the years to com
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the North America adhesives and sealants market
North America Adhesives Technology
North America Adhesives Product
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North America Adhesives Application
North America Sealants Product
North America Sealants Application
North America Sealants Country
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