Canada Adhesive & Sealant Market Research Report, 2027

The electrical and electronics industry is one of the fastest-growing segments among all the applications of adhesives and sealants. The demand for personal electronic devices, like smartphones, household audio, video, and electronic components, is skyrocketing. Adhesives and sealants are widely used in electronics as they cure at room temperature and are highly compatible with electronic devices. With the continuous innovation and development of new electronic products in the country, the electronics segment's demand for adhesives and sealants is expected to continue to increase over the forecast period. The rise in urbanisation is increasing construction activity, which in turn increases demand for adhesives and sealants. Other factors that account for market growth are improved demand from key markets; environmentally friendly adhesives and sealants; and the automobile industry. According to the report titled "Canada Adhesive & Sealant Market Outlook, 2027", published by Actual Market Research (AMR), the Adhesive & Sealant market in Canada is expected to grow at a CAGR of 3.07%. Adhesives have a major market share in Canada as the demand is driven by paper & packaging, healthcare, and construction activities. On the other hand, sealant market share is expected to drive future market trends due to increased demand from electronics, consumer DIY and automotive applications. Water-based adhesives are most preferred and are expected to stay in high demand during the forecast period too. Acrylic and other sealants are expected to drive future market growth in Canada. The large consumer base engaged in DIY renovation and modification of homes has been on the rise since the onset of the pandemic and is expected to further rise in the forecast period. The government's regulation for low VOC emissions is hindering the market growth that has necessitated reformulating of products. The key is to use more water-based formulations because they are easy to clean up and emit fewer odours. However, in cases where strong adhesion is required, solvent-based adhesives need to be used. The solvents can be used in fewer quantities or less hazardous solvents can be used. The Canadian adhesive and sealant industry is dominated by foreign-owned companies, and most of Canada's international trade is with the United States. Much of the sector does not compete in markets outside North America. The US companies are dependent on Canadian Adhesive & Sealant for the majority of their supply. Apart from the US, India and South Korea are the other two importers of adhesives and sealants from Canada. The industry has benefited from large-scale construction activities in the United States as well as a drop in the Canadian dollar. The silicone sealants that are used in the electrical and electronics segments constitute more of an export. Apart from the exports, demand from the key downstream markets and improved market conditions are likely to propel market growth. Increased consumer spending will drive the market growth from the packaging sector. The adhesive manufacturing industry in Canada has a moderate level of capital intensity. The flexible packaging industry is expected to drive the demand for hot-melt products as they are suitable for modern, high-speed processes. It makes packaging light and cost-effective. Hot melts are low-solvent formulations designed for application at elevated temperatures. The adhesive and sealant industry is relatively labour-intensive. Extensive knowledge and experience are required for their formulation and compounding. The automotive sector is a lucrative sector and with innovations and electric vehicles on the spur, there is expected to be greater demand for adhesives and sealants for application in manufacturing and assembling of vehicle bodies. It is used for interior applications like decorative trim and carpet, for sealing doors and windows and for exterior applications like vinyl roofing and side mouldings. In conventional metals, too, adhesive is expected to overcome corrosion and vibration noise. The booming aerospace industry also demands these adhesives and sealants and is expected to create opportunities to withstand high travel speeds. Canadian-owned companies must increase access to state-of-the-art technology, move to larger-scale production of a narrower product range, and develop expanded export markets. Subsidiaries of multinationals have ready access to new technology. The challenge for these companies is to secure exclusive mandates for the manufacture of specific products. COVID-19's Impact on the Adhesive and Sealant Market: The pandemic hit the demand and supply chains severely, severely affecting the adhesives and sealants market in the region. The raw materials were not soured in time, and that delayed production activities across industries. Due to labourer immobility, the construction and automotive industries experienced significant workforce shortages. However, the construction of temporary hospitals and quarantine centres increased with this outbreak of coronavirus. Certain adhesive products witnessed strong demand due to their applications in the paper and packaging industry, as well as the healthcare industry. However, the dependence of adhesives and sealants on the healthcare and packaging sectors is expected to lead the adhesives and sealants market to recover quickly post the pandemic. Considered in this report • Geography: Canada • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Canada Adhesive & Sealant market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type in the report: • Adhesive • Sealant By Formulating Technology in the report: • Water-based • Solvent-based • Hot-melt • Reactive & Others By Resin Type in the report: • Silicone • Polyurethane • Acrylic • Polyvinyl Acetate • Other Sealant Product By Application Type in the report: • Paper, Board, and Packaging • Buildings and Construction • Automotive & Transportation • Woodworking and Joinery • Footwear and Leather • Healthcare • Electrical and Electronics • Consumer & DIY • Other End-user Industries The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry manufactures, consultants, Key vendors related to Adhesive & Sealant industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.