Canada Adhesives Market to be Dominated by Packaging & Paper Related Products Segment Through 2027
Growing demand for
automobiles and rising construction infrastructure to drive the demand for the
Adhesives Market in the forecast period, 2023-2027.
According to TechSci Research report, “Canada Adhesives Market - By Region,
Competition Forecast and Opportunities, 2017-2027”, The Canadian adhesives market is anticipated to
grow at a considerable rate in the projected period, 2023-2027. The adhesives
market is expected to increase due to the growing Automobile, construction,
aerospace, woodwork, and petroleum. According to Innovation, Science, and
Economic Development in 2021, more than 10% of the total Canada GDP is
represented by manufacturing sector. Manufacturers' export is more than 354
billion USD, representing 68% of all Canada's merchandise exports. The above
data indicate the uses of adhesive in Canada and the opportunity of increasing
market share due to the growing population and economic development. Thus, the
Adhesives requirement will rise in the anticipated period for the smother
operation. Manufacturers are imposed restrictions or guideline on the
manufacturing of the product due to the presence of VOC (volatile organic
compound).
To confront the obstacle
due to VOC in the adhesives market, government and private organizations are
working together and doing R&D for better products. Additionally,
Government initiatives like FTA (Free Trade Agreement) and traffic elimination
incentives are helping industrialists lower the cost of the product and the
final cost of the goods. Likewise, the rising population, growing demand for
the canoe industry, oil and gas industries, and efforts by marketers to
increase revenue are factors for the growth of the market. Thus, the
abovementioned factors will drive the growth and directly impact the Canada
adhesives market growth.
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data Figures spread through 70 Pages and an in-depth TOC on "Canada Adhesives Market"
The Canada Adhesives
Market is segmented based on technology, resin type, and end -user type.
Based on the technology
type, the market is divided into the reactive, hot melt, solvent-based, and
water-based. The water-based segment is expected to hold the largest market
share in 2022. It is solvent-less or contains low VOC that, decreases the
ill-effect on health and makes this product environment-friendly. Apart from
these, it is the risk of blockages is less, lower cost, and easier to remove
from equipment are reasons to dominate the market.
Based on the end-user
industry type, the market is divided into furniture, construction, packaging
& paper-related products, transportation, DIY, and others. As per
estimates, the packaging & paper-related products segment is going to
experience the highest market share during the forecast period. The use of
paper and packaging are common in people’s daily life as the availability of
the product is in every home. The vast availability of paper in every household
makes this segment dominate the market.
Based on resin type, the
market is divided into polyurethane adhesives, vinyl adhesives, acrylic
adhesives, rubber-based adhesives, epoxy adhesives, and others. Rubber-based
adhesives are expected to account for a significant market share over the next
projected years. Rubber-based adhesives allow ease and immediate bond with
others component compared to alternative adhesives.
Major operating companies
operating in Canada adhesives market are:
- Bostik Canada
- H B Fuller Canada
Inc
- Dow Chemical Canada
ULC
- 3M Canada
- Sika Canada Inc.
- AkzoNobel Canada
Inc.
- Henkel Canada
Corporation
- Soudal Canada
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"The Ontario region is expected to
dominate the Canadian market in the coming years due to its government policy,
availability of resources, manufacturing expertise, exports, and innovation
capabilities. The Adhesives Market is anticipated to increase due to the
growing demand for canoes, oil & gas, population, packing, construction
infrastructure, automotive, and aerospace industries. According to Statista,
the Global market value of adhesives in 2020 is 43.75 billion US dollars and is
expected to reach 64.71 billion US dollars in 2027. Thus, the adhesive
requirement will increase in the forecasted year for manufacturing and
operation.
The demand for Adhesives devices is
anticipated to grow in Canada in the upcoming year due to their diverse usage,
result, and effectiveness. Technological improvement, collaboration, merger,
and acquisition are the various managerial activities impacting the market's
growth. On growing demand for automobiles worldwide, infrastructural projects
developing in the region, government initiatives such as FTA, traffic
elimination, and others are market propelling factors. All the factors as
mentioned above are expected to impact market growth and create favorable
conditions to push the Canada adhesives market growth till 2027." said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Canada Adhesives Market By
Type (Flexible Bronchoscope, Rigid Bronchoscope, and Others), By Working
Channel Diameter (2.8mm, 2.2mm, 3.0mm, and Others), By Usability (Reusable v/s
Disposable), By Application (Bronchial Diagnosis v/s Bronchial Treatment), By
End User (Hospitals & Clinics, Ambulatory Care Centers, and Others), By
Region, Competition Forecast and Opportunities, 2027,
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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