Aug 05, 2022, 07:50 EST
Shibuya-ku, Tokyo, Japan, Japan, Aug 05, 2022, 07:50 /Comserve / -- North America Polyurethane (PU) Adhesives Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
North America polyurethane (PU) adhesives market is expected to grow at a CAGR of more than 3.8% during the forecast period. The demand for PU adhesives is widely driven by the growth in the number of construction projects and increasing demand from aerospace industry. However, stringent VOC emission regulations may affect the growth of the studied market.
- Amongst technology, solvent-based stands to be the largest segment as it is extensively preferred for numerous industrial and construction applications.
- However, innovation and development of bio-based adhesives and shifting focus toward adhesive bonding for composite materials are likely to offer opportunities for the PU adhesives market.
- United States stands to be the largest market for PU adhesives in the region, with consumption being majorly driven by the growth in end-user industries, such as construction, aerospace, packaging, electrical and electronics, etc.
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Key Market Trends
Building and Construction Industry to Drive the Market Demand
- Among end-user industries, building and construction segment dominates the consumption of PU adhesives in the region.
- PU adhesives have rapid curing and low strength properties, making it an excellent choice for woodworking and other construction applications. They provide high strength required to hold construction materials together.
- Besides, this material is versatile, when it comes to product assembly adhesives. It suits plastics, glass, PVFs, aluminum, stainless steel, and other metals, regardless of the toughness of bond substrates.
- 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 PU adhesives in the region.
United States to Dominate the Market
- United States stands to be the largest market for PU adhesives in the region, owing to the presence of largest automobile, aerospace, healthcare packaging and electrical and electronics market in the country as compared to other countries in the region.
- The healthcare sector is by far one of the most advanced sectors in the country. The increasing geriatric population and the mounting requirement for medical facilities for the treatment of chronic diseases have been supporting the growth of the healthcare sector and the consumption of polyurethane adhesives in various medical devices in the country.
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- 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.
- Hence, the presence of strong production base and such growth prospects in the end-user industries are expected to drive the consumption of PU adhesives in the country.
North America polyurethane (PU) adhesives market is fragmented in nature. Some of the key players in the market includes 3M, Arkema Group, Dow, H.B. Fuller, and Henkel AG & Co. KGaA, amongst others.
1.1 Study Assumptions
1.2 Scope of the Report
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growth in the Number of Construction Projects
4.1.2 Increasing Demand from Aerospace Industry
4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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