North America Waterborne Adhesives Market - Segmented by Type, Polymer, Application, End-User Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The North America Waterborne Adhesives Market is expected to witness a CAGR of 6.2%, during the forecasted period of 2018-2023. North America accounts for an estimated 28% of the global waterborne adhesive market. US is the fastest growing market followed by Mexico and Canada.
Research and Development in Adhesives Industry
US has the best in class facilities in the world, owing to which the research and development conducted there are path breaking and revolutionary. The growth of adhesives market depends on continuous research and development. Waterborne adhesives are a step up over solvent-based adhesives. Thus continuous research and developments in the adhesives market is extremely essential for the sustained growth of the market.
Flourishing Construction Industry Increasing Adhesives Demand
Adhesives accounts for 34% of total construction industry requirements. Construction industry is on a rise in the North America region. The North America region is predicted to observe a rise between 5% to 7% in construction spending in the forecasted period. With the expansion of construction industry, Adhesives market is expected to grow. Also, the increasing trend of using eco-friendly adhesives has given a greater boost to the waterborne adhesives market in North America.
US is the largest market in North America
US accounts for the largest market by volume for waterborne adhesives market. In US waterborne adhesives is likely to be the fastest growing segment followed by hot melts over the forecast period. Rise in the construction of green buildings in the country is expected to drive the demand in the country in the near future. US also observes the highest adoption rate for waterborne adhesives in various industries, like construction, footwear, woodwork, aerospace, transportation, and medical among other.
Key Developments in the Market
January 2018: H.B. Fuller Announces Price Increase on Adhesives Sold in North America. The North America Adhesives group of H.B. Fuller will increase the price for adhesives between 5 percent and 15 percent, depending on the product sold.
March 2018: BASF Increases Production Capacity for Joncryl Water-based Emulsions. BASF has extended its production facilities for Joncryl water-based emulsions. BASF has ramped up its production of selected Joncryl emulsions at its Ludwigshafen site.
Major Players: The Dow Chemical Co., Pidilite Industries Ltd., Huntsman Corp., 3M, Arkema Group, Henkel AG & Co. KGaA, Wacker Chemie AG, Sika AG, Franklin Adhesives & Polymers, and Bostik SA, among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Countries expected to witness the fastest growth during the forecast period
Identifying 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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