The North America Structural adhesives Market is valued at USD 2104.73 Mn in 2019 and is estimated to grow at a CAGR of 6.91% over the forecast period to reach USD YY Mn by 2027.
The collective revenue of Structural adhesives by North America is expected to generate USD 23225 Mn by 2027. The North American region held 20.68% market share in 2018 and is expected to reach 20.24% by 2027. The North America Market consists of the US, Canada and Mexico regions.
Growing establishments of high-rise commercial building spaces across the region associated with growing usage of structural adhesives for the protection of window frames due to presence of high pressure acting on the higher floor are the factors driving the North America structural adhesives market.
According to the study published in Center for Sustainable Systems University of Michigan, the commercial space presence in United States is expected to increase from 92.7 billion Square Feet in 2017 to 126.1 billion square feet in 2018 a 39% owing to increase in establishments of new firms to meet the global demand for consumer and It-related products. Increase in establishments of commercial space associated with increase in investment by the major producers in sustainable adhesives in window installations is expected to boost the North America Structural adhesives market.
Growing usage of Structural Adhesives in heavy Trucks owing to improved strength and durability, enhanced aesthetics, and low cost associated with traditional fastening techniques associated with increase in production of heavy-duty trucks are the factors additionally contributing to the growth of North America Structural Adhesives market.
According to the data published in OICA in 2019, The annual production of Heavy-duty trucks in North America increased from 461,840 units in 2017 to 541,777 units in 2018 providing equal market growth for the North America structural adhesives market.
High presence of the aerospace industry across the region associated with presence of suitable properties by the structural adhesive light weight and high bonding strength between various materials are the properties additionally contributing to the growth of North America structural adhesives market.
The United States is expected to dominate the North America Structural adhesives market owing to the high presence of automobile, aerospace and construction industry associated with increase in disposable income by the individuals in high quality structural adhesives.
The key players in the North America structural adhesives market includes 3M United States, Dow Chemical, Engineered Bonding Solutions, LLC, and Lord Corporation. The Key strategies adopted by the prominent players in the North America structural adhesives market includes new product launches by the regional players to meet the necessary automotive and aerospace market requirements (Self-bonding and rebounding) and In May 2019, ATSP Innovations launched Self-Bond, a new class of rebondable structural adhesives in the United States designed to bond different materials ranging from metals, glass and composites. Self-Bond Structural adhesive possesses the ability to rebound under controlled heat and can be rebounded for 50 cycles.
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