Canada Adhesives Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Water-Based, Solvent-Based, Hot-Melt (EVA, Polyolefin, Polyester, Polyurethane, Rubber), Reactive (Polyurethane, Epoxy, Cyanoacrylate, Modified Acryl, Anaerobic), Others), And By Application (Consumer Applications, Automobiles, Electronics, Medical, Industrial, Woodworking And Plywood, Textiles, Household, Others) - Forecasts From 2022 To 2027
- Published : Dec 2022
- Report Code : KSI061610091
- Pages : 114
The Canada Adhesives market is expected to grow at a CAGR of 3.12% from an initial value of US$0.918 billion in 2020 and is estimated to reach a market size of US$1.137 billion in 2027.
The market is expected to grow due to the burgeoning usage of adhesives by various industries in the country, along with developments by key market players. Based on the types of adhesives available, they are used for applications like packaging, construction, domestic applications, and industries like textile, automobile, medical, and so on. These dependent industries thus drive the growth of the adhesive industry in the country. Adhesives are widely consumed by the packaging industry in the country due to their potency in bonding plastics, metals, and paper & cardboard packaging applications. Further, the automotive industry is expected to account for a decent share of the adhesives market due to their applicability to a variety of surfaces. Additionally, the features helpful in the automotive industry, like extreme weather resistance and durability, are expected to create ample scope in the coming years. The growth of the electric vehicles segment in the country is further expected to increase the applications of adhesives in the automotive industry.
One of the prime reasons supporting the overall market is the growing construction industry in the nation
Adhesives are very widely used in the construction industry in Canada owing to their diverse applications like assembling prefabricated blocks, plumbing, roofing, and flooring, among many others. According to the Canadian Construction Association, the construction industry of Canada accounted for about 7.5% of the country’s GDP in 2021, with an employee base of over 1.4 million people. The rapid growth of construction projects in the country is expected to augment the construction adhesives demand in the analyzed period. This steady growth in the construction industry is thus expected to propel substantial growth in the adhesives market in the country.
The government in the country has been actively involved in this sector. For instance, in the re-election of a minority federal Liberal government in September 2021, the main political parties recognized that housing supply and infrastructure deficits were some of the critical issues that needed to be addressed. Additionally, prior to the 2021 federal election, the Association of Consulting Engineering Companies-Canada launched an advocacy campaign to encourage the federal government to make infrastructure investments a priority in their investments. This emphasis laid on construction projects is thus expected to boost the demand for the adhesives market as well in the region.
The automobile segment holds a significant share of the market
Adhesives have high applicability in automotive manufacturing as they are used for bumpers, headlights, spoilers, seats, and dashboards among other automotive parts. In major North American countries such as Canada, the automotive sector is witnessing significant growth owing to the growing demand for new and fuel-efficient automobiles coupled with rapid urbanization and an increase in disposable income. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, registration and sales of new vehicles in Canada stood at 1.70 million units which showed an increase of 7% in comparison to 2020’s sales volume of 1.58 million units.
Moreover, according to Statistics Canada, in March 2021, the sales of automotive goods manufactured in Canada saw an increase of 18.3% in comparison to 2020 for the corresponding month. With such growing sales of new vehicles and automotive parts in Canada, the demand for adhesives is also projected to increase in the automotive sector of the country, thereby providing a positive outlook to the adhesives market during the forecast period.
COVID-19 Impact on Canada Adhesives Market
COVID-19 negatively impacted the market trend owing to the impact on the end-user industry. Adhesive and sealant industries are experiencing various degrees of demand as a result of both the pandemic and large drops in oil costs. Canada’s GDP per capita reached 1.3% per year from 2020 to 2021, according to Canadian Government data. With over 80% of the Canadian adhesive demand coming from the Industrial sector, the impact was seen on the Canadian adhesive market.
Canada Adhesives Market Scope:
|Market Size Value in 2020||US$0.918 billion|
|Market Size Value in 2027||US$1.137 billion|
|Growth Rate||CAGR of 3.12% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, And Application|
|Companies Covered||3M Canada, Arkema Group, H.B. Fuller Canada Holding Co., Henkel AG & Co. KGaA, Sika AG, Tremco Canada Division, Technical Adhesives Limited|
|Customization Scope||Free report customization with purchase|
- By Type
- Modified Acryl
- By Application
- Consumer Applications
- Woodworking and Plywood
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. CANADA ADHESIVES MARKET BY TYPE
5.5.4. Modified Acryl
6. CANADA ADHESIVES MARKET BY APPLICATION
6.2. Consumer applications
6.7. Woodworking and Plywood
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. 3M Canada
8.2. Arkema Group
8.3. H.B. Fuller Canada Holding Co.
8.4. Henkel AG & Co. KGaA
8.5. Sika AG
8.6. Tremco Canada Division
8.7. Technical Adhesives Limited
H.B. Fuller Canada Holding Co.
Henkel AG & Co. KGaA
Tremco Canada Division
Technical Adhesives Limited
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