Canada Adhesives Market to Grow with a CAGR of 4.25% through 2028

Surge in research and development activities is expected to drive the Canada Adhesives Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Canada Adhesives Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Canada Adhesives Market stood at USD1.02 billion in 2022 and is anticipated to grow with a CAGR of 4.25% in the forecast period, 2023-2028. The initiatives taken by government based on adhesives has led to favorable market conditions for the Canada Adhesives Market. Several factors contribute to the growth of various adhesives market products.

The Government of Canada, through its regulatory framework, plays a crucial role in overseeing and ensuring the safety and effectiveness of a wide range of medical devices. These devices encompass anything from simple adhesive bandages to complex and life-saving equipment like insulin pumps. This commitment to regulation underscores the government's dedication to safeguarding the wellbeing of individuals in the healthcare sector.

Under the Canada-U.S. Free Trade Agreement, notable developments have taken place in the adhesives industry. Specifically, the agreement has impacted tariffs on adhesives, sealants, and the resins used to manufacture them. These adjustments reflect a proactive approach to foster and promote trade within the adhesives industry, creating opportunities for growth and collaboration between Canada and the United States.

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Research and development (R&D) plays a pivotal role in driving the growth of the adhesives market. With an increasing emphasis on R&D activities, there has been a surge in efforts aimed at enhancing the performance characteristics of adhesive products. For instance, in the silicone-based lid-seal adhesives market, significant research activities have been undertaken to not only improve product performance but also to expand the range of application areas. This focus on innovation and advancement is instrumental in shaping the future of the adhesives industry, ensuring that adhesive products continue to meet evolving needs and challenges across various sectors.

The Canada Adhesives Market is segmented in resin, end user, regional distribution, and company.

Based on its resin, the acrylic segment held the largest share in the market. The dominance of acrylic adhesives in the Canadian adhesives market can be attributed to several factors. One key factor is the growth of end-user industries, particularly the packaging industry. As a major consumer of acrylic adhesives, the packaging industry has been experiencing robust growth, driven by increasing consumer demand and the rise of e-commerce. The versatility and performance of acrylic adhesives make them well-suited for various packaging applications, further fueling their demand.

Additionally, the medical adhesives market is also witnessing significant growth, with acrylic resins holding a significant share. This can be attributed to the increasing adoption of advanced medical devices and the growing demand for minimally invasive procedures. Acrylic adhesives play a crucial role in medical applications such as wound closures, surgical tapes, and medical device assembly. The strong bond strength, biocompatibility, and sterilization capabilities of acrylic adhesives make them ideal for these critical medical applications.

Based on region, Quebec segment is expected to grow during the forecast period.

Quebec's strategic location is a key factor contributing to its dominance in the Canadian adhesives market. With its extensive transportation infrastructure, including well-connected roadways, railways, and ports, Quebec facilitates the efficient distribution of adhesives not only within Canada but also to other regions beyond its borders. This seamless connectivity allows businesses in Quebec to effectively reach customers in various markets, both domestically and internationally.

Furthermore, Quebec's proximity to major markets in the United States presents additional advantages for the expansion of the adhesives industry. The close geographical proximity enables easier access to U.S. customers, fostering stronger business relationships and opening doors to new opportunities for growth and collaboration.

Major companies operating in Canada Adhesives Market are:

• H.B. Fuller Canada Inc.
• Dow Chemical Canada ULC
• Sika Canada Inc.
• AkzoNobel Canada Inc.
• Henkel Canada Corporation

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“Growing application of adhesives in various end user industries are key drivers of the adhesives market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of adhesives with every passing year are anticipated to register an impressive growth to Canada Adhesives Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Canada Adhesives Market By Resin (Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA, Others), By End User (Aerospace, Automotive, Building & Construction, Healthcare, Packaging, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Canada Adhesives Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Canada Adhesives Market.

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