It would've already happened by now. If there's no spark now, there surely won't be one in the future. And don't call me Shirley.
That's not to say you couldn't fall in love with this guy someday. But physical attraction doesn't grow like love does. You rarely hear of people who develop a spark for each other over time. I suppose it could happen, but it's not likely. In fact, the opposite usually happens: couples start off crazy with attraction and lust, and over time it morphs and mellows into a deeper but very different kind of love. The spark becomes a low simmer. How many times have you heard people complain about how they miss the early days of the relationship when they couldn't keep their hands off each other?
Physical attraction is an important part of the foundation of a relationship. You'll need it later. You'll wake up one morning two years from now, still pissed about the fight you had last night and what an asshole he is, and you'll be thinking about maybe calling it quits when you glance over at him asleep in bed next to you and think, "I hate him, but he sure is sexy." Then your anger will start to fade and the next thing you know, you two are going at it like fiends and afterward he apologizes and you apologize and all is well once again in Munchkinland.
In other words, when the going gets tough, you'll want the animal attraction to fall back on. And the makeup sex.
Now, I realize that lots of couples start as friends, but in those cases I think they probably always had an unspoken attraction for each other but were just unavailable or unsure. And, yes, plenty of couples do get together and survive without the spark, but why settle for that? Do you want a relationship that merely survives, or one that thrives? Hey, that rhymes!
I'm not telling you to dump the guy. He sounds like a stand-up dude. Just don't hold your breath waiting for a physical attraction to materialize out of the blue one day.