North America Acrylic Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Acrylic Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America acrylic adhesives market is expected to grow at a CAGR of over 4% during the forecast period. The demand for acrylic adhesives is widely driven with growth in the number of construction projects and growth of packaging industry. However, the market growth may be hindered by the stringent VOC emission regulations related to acrylic adhesives disposal and/or substitution from different feedstock.

Key Highlights

• The water-based acrylic adhesives segment is expected to be the fastest growing segment, owing to the increasing consumer awareness about the ill-effects of solvent-based adhesives on environment and human health.
• Shifting focus towards the bio-based adhesives and replacement of solvent-borne adhesives in construction industry are likely to offer opportunities for the acrylic adhesives market in North America.
• United States stand to be the largest market for acrylic adhesives in the region, with consumption being majorly driven by the end-user industries, like construction, electronics and packaging.

Key Market TrendsPackaging Industry to Dominate the Market

• The packaging industry dominates the consumption of acrylic adhesives, as they are widely useful in the manufacturing of various products, such as tapes, cases, labels, and cartons.
• In North America, countries such as United States, Canada and Mexico have strong dependency on processed and packaged food.
• Further, growing e-commerce, online food deliveries, and innovation and development related to product packaging have been influencing the demand for packaging materials in the region.
• However, flexible packaging segment of the packaging industry is witnessing strong growth in food and consumer goods industry, owing to its lightweight and ease of handling benefits.
• Hence, all such trends influencing the demand for packaging materials are further increasing the consumption of acrylic adhesives in packaging industry.

United States to Dominate the Market

• United States dominate the consumption of acrylic adhesives in the region. Strong growth of packaging industry, innovation and development of advanced electronics and growing e-commerce industry have been significantly contributing to the demand for acrylic adhesives in the country.
• In the United States, the packaging industry is estimated to witness a CAGR of around 5%, by revenue, during the forecast period. The flexible packaging market is growing at a faster pace, owing to its benefits, such as easy handling, compact packaging, and light weight.
• The changing trends in consumer behavior and manufacturers’ ease in convenience are resulting in faster growth of the flexible packaging market in the country, which is further benefiting the market studied.
• Further, the United States electronics market stands to be the largest in the world in terms of size. The usage of advanced technology, an increase in the number of R&D centers, and development of advanced technology in the country is expected to drive the growth of electronics industry in the country, which is further expected to drive the demand for acrylic adhesives over the forecast period.

Competitive Landscape

North America acrylic adhesives market is fragmented in nature. Some of the key players in the market includes 3M, Arkema Group, Sika AG, H.B. Fuller, and Henkel AG & Co. KGaA, amongst others.

Additional Benefits:

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

Companies Mentioned

3M
Adhesives Research Inc.
American Biltrite Far East Inc.
Arkema Group
Ashland
Avery Dennison Corporation
Beardow Adams
Dow
DuPont
Dymax Corporation
Franklin International
H.B. Fuller
Henkel AG & Co. KGaA
Hexion
Huntsman International LLC
ITW Performance Polymers (Illinois Tool Works Inc.)
Jowat AG
Mapei Inc.
Tesa SE (A Beiersdorf Company)
MUNZING Corporation
Paramelt B.V.
Permabond LLC
Pidilite Industries Ltd.
Sika AG
Wacker Chemie AG

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