At 4.1% CAGR, the North America Adhesives and Sealants Market is Projected to be worth US$ 12,828.82 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the North America adhesives and sealants market was valued at US$ 9,271.17 million in 2022 and is expected to reach US$ 12,828.82 million by 2030, registering a CAGR of 4.1% from 2022 to 2030. Strong growth of construction and automotive industries and increasing demand for adhesives and sealants from paper & packaging industry are the critical factors attributed to the North America adhesives and sealants market expansion.             

Several manufacturers are focused on developing adhesives and sealants from biological sources and agro-wastes in response to the global focus on sustainable development and circular economies. In 2023, the US Environmental Protection Agency announced the award of US$ 100 million to support waste management and recycling. It is the agency's first significant initiative in these fields in thirty years. In contrast to the current 32% recycling rate, the agency's National Recycling Strategy aims to achieve a 50% recycling rate by 2030. Plastic garbage recycling rates are at approximately 5%. It will provide an additional US$ 32 million to states and territories to help them carry out their waste management strategies, and it has chosen 25 localities to receive subsidies totaling over US$ 70 million to upgrade their recycling facilities. Also, the Canadian government declared its goal to eliminate plastic waste in Canada by 2030 and banned certain plastic items in 2022. There is a switch in a trend toward recycling of adhesives and sealants from manufacturers in developed economies. The development of debondable hot-melt adhesives made of high-performance materials from sustainable and natural biomolecules is in trend due to their ability of being recycled. These adhesives find their applications in many industries such as transportation, consumer electronics & appliances, and military. Therefore, the growing awareness of sustainable development and increasing focus on a circular economy will propel the demand for recycled adhesives and sealants and reactivation processes in different industries in the coming years.

On the contrary, fluctuation in prices of raw materials hurdles the growth of North America adhesives and sealants market. 

Based on resin type, the North America adhesives and sealants market is bifurcated into adhesives and sealants. The adhesives segment held 79.8% market share in 2022, amassing US$ 7,395.51 million. It is projected to garner US$ 10,324.29 million by 2030 to expand at 4.3% CAGR during 2022–2030. Additionally, the adhesives segment is categorized into epoxy, polyurethane, acrylic, and others. Further, the sealants segment is subsegmented into silicone sealant, urethane sealant, acrylic sealant, polysulfide sealant, and others.

Based on end-use industry, the North America adhesives and sealants market is categorized into automotive, aerospace, paper and packaging, building and construction, electrical and electronics, medical, and others. The building and construction segment held 31.1% market share in 2022, amassing US$ 2,887.69 million. It is projected to garner US$ 4,139.64 million by 2030 to expand at 4.6% CAGR during 2022–2030.

Based on country, the North America adhesives and sealants market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.8% share of North America adhesives and sealants market in 2022. It was assessed at US$ 7,581.11 million in 2022 and is likely to hit US$ 10,575.45 million by 2030, exhibiting a CAGR of 4.2% during 2022–2030.            

Key players operating in the North America adhesives and sealants market are Henkel AG and Co KGaA, HB Fuller Company, Sika AG, 3M Co, Huntsman International LLC, Dow Inc, Wacker Chemie AG, Parker Hannifin Corp, Dymax Corporation, and Astro Chemical Company Inc, among others.

• In June 2021, HB Fuller Co announced strategic partnership with Jubilant Industries Limited.
• In Feb 2023, 3M Co launched medical adhesive with longer wear time.

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