Canada Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Canada Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Canada Adhesives Market is projected to register a CAGR of 6.16%

Key Highlights

• Largest Segment by End User Industry - Packaging : In Canada, packaging is the dominant end-user industry owing to a wide range of adhesive applications, including labels, tapes, carton sealing and joining, and laminating.
• Fastest-growing Segment by End User Industry - Woodworking and Joinery : Due to the increased consumer spending capacity, the demand for residential furniture is increasing. Thus, the woodworking and joinery industry is forecast to be the fastest-growing segment over the coming years.
• Largest Segment by Technology - Hot Melt : In Canada, hot melt adhesives hold the largest share of the market owing to their easy applicability, non-toxic nature, and fast curing process across several industries.
• Largest Segment by Resin - Polyurethane : Polyurethane adhesive is the largest resin-based adhesive owing to its wide applications in woodworking, building construction, and automotive industries, both for exterior and interior applications.

Key Market TrendsPackaging is the largest segment by End User Industry.

• Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper & cardboard packaging applications. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 48 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
• Adhesives are majorly used in the construction industry in Canada because of their diverse applications, such as assembling prefabricated blocks, plumbing, roofing, and flooring, among others. The construction industry of Canada held 1.7% of the global construction market in 2017 and accounted for more than 7% of the country’s GDP. The rapid growth of residential construction projects in the country is expected to augment the construction adhesives demand in near future.
• The automotive industry accounts for a decent share of the adhesives market because of their applicability to various surfaces. Moreover, the features that are helpful in the automotive industry, such as extreme weather resistance, durability, and long-lasting, are expected to create ample scope in the coming years. These are mostly used in engines and car gaskets. Electric vehicle sales are expected to grow at a significant rate of 28% during the period from 2020 to 2030 because of the increase in the need for personal mobility.
• Adhesives are used in the healthcare industry for applications such as assembling and bonding medical device parts. The increase in healthcare investments in the Canadian market is expected to lead to an increase in their demand in the forecast period.

Competitive Landscape

The Canada Adhesives Market is moderately consolidated, with the top five companies occupying 49.44%. The major players in this market are 3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA and Sika AG (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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