North America adhesives and sealants market to hit USD 19.35 billion by 2028
According to a report by Fortune Business Insights, North America Adhesives and Sealants Market size is expected to gain momentum by reaching USD 19.35 billion by 2028, while exhibiting a CAGR of 4.2 % between 2021 to 2028. In its report titled “North America Adhesives and Sealants Market, 2021-2028,” Fortune Business Insights mentions that the market stood at USD 14.00 billion in 2020.
The availability of sustainable and greener adhesives positively promotes its market since it is safe for people’s health and the environment. The increasing consumption of such products reduces the carbon footprint and contributes to the overall sustainability in different packaging applications, such as bottle labelling, paper lamination, and carton sealing. Moreover, water-based adhesives, such as animal glue and LD Davis, are extremely safe for food packaging. These water-based adhesives are made of gelatins that are used in the pharma industry to make capsules. Thus, the market is expected to rise during the foreseeable years.
The pandemic has caused irregularity in supply and demand. Manufacturers faced loss, as there was a decline in refurbishment and renovation activities during the outbreak. Construction and automotive business were halted due to the unavailability of the working force and lack of raw materials. However, the market is expected to regain its momentum during the forecast period, as many nations can curb the spread of the virus.
Top companies covered in North America adhesives and sealants market report are Henkel Corporation (Düsseldorf, Germany), Sika AG (Baar, Switzerland), H.B. Fuller Company (Minnesota, U.S.), Evonik Industries (Essen, Germany), RPM International Inc. (Ohio, U.S.), Dow (Michigan, U.S.), Wacker Chemie AG (Munich, Germany), Arkema (Colombes, France), Pecora (Pennsylvania, U.S.), Momentive (New York, U.S.), MBCC Group (Mannheim, Germany), PPG Industries (Pennsylvania, U.S.), The Sherwin-Williams Company (Ohio, U.S.) and other key players profiled.