Global Construction Adhesive Market Size to grow USD 15.11 Billion by 2030 | CAGR of 5.2%
Category: Advanced MaterialsThe Global Construction Adhesive Market was valued at USD 10.50 Billion in 2021. The market is projected to grow USD 15.11 Billion in 2030, at a CAGR of 5.2%. as per the latest research report by Spherical Insights & Consulting.
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The need for construction joint adhesives will rise even more as a result of rising infrastructure investment and the expansion of related sectors like steel and cement. Construction adhesives provide some advantages over other binding techniques, including the ability to bind a variety of materials, good stress distribution across the joint, cost effectiveness, and improved design freedom.
Browse key industry insights spread across 225 pages with 117 market data tables and figures & charts from the report Global Construction Adhesive Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Resin Type (Acrylic, Polyurethanes, Polyvinyl Acetate, Epoxy & Others), By Technology (Water-based, Solvent-based, Reactive & Others), By Application (Insulation, Pressure Sensitive Tapes & Labels, Waterproofing, Walls & Panels, Concrete & Others), By End-Use (Residential, Commercial and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 in detail along with the table of contents https://www.sphericalinsights.com/reports/construction-adhesive-market
The development and expansion of new manufacturing facilities, car assembly plants, multi-story towers, oil pipelines, water treatment facilities, as well as the expansion of logistic terminals have all contributed to an increase in the demand for adhesives in nations like Qatar, Brazil, the UAE, and Colombia. An emphasis on environmentally friendly infrastructure and building initiatives is predicted to aid the industry's expansion. Governments may boost the economy by adopting carbon reduction objectives. These incentives may come in the form of direct public financing and changes to policy. Businesses anticipate a need for healthy, ecologically friendly homes and communities, which they predict will increase the need for construction adhesives.
The main factors influencing the market growth rate include things like growing construction adhesive demand in old-building rehabilitation and architectural design, as well as rising adhesive usage in commercial and residential construction. Increased government investment on infrastructure building and rising demand for low-VOC, sustainable, and environmentally friendly adhesives will both help open up new markets. However, because to the fluctuating cost of raw materials, the construction adhesive market is unable to grow. According to projections, the business would have a lot of potential due to developing technical and artificial advances as well as rising government efforts for infrastructure development.
The adoption of developing technologies and digitalization is another significant factor that will likely provide the associated materials as well as building and construction sector a boost in the long period of time. Contractors are likely to employ collaboration at various stages of projects including digital models. Distributors of adhesive emphasize little physical interaction, especially when working with e-commerce platforms where sales staff may manage customers and orders using digital tools.
The acrylic segment is anticipated to hold a majority of the market share in the worldwide construction adhesive market, largely due to acrylic adhesives' exceptional bonding qualities, robust impact resistance, and great water resistance. Due to its products' higher moisture resistance compared to those created with other adhesives, the water-based category is predicted to hold the lion's share of the worldwide construction adhesive market. Due to incentives for first-time homeowners, the residential segment is anticipated to have a disproportionately large share of the worldwide construction adhesive market.
According to the resin market is divided into acrylic, polyurethanes, polyvinyl acetate, epoxy, and other materials. The acrylic segment is anticipated to hold a majority of the market share in the worldwide construction adhesive market, largely due to acrylic adhesives' exceptional bonding qualities, robust impact resistance, and great water resistance. The category is predicted to grow at a pace of 5.1% between 2022 and 2030.
The market is divided into water-based, solvent-based, and other categories depending on technology. Due to its products' higher moisture resistance compared to those created with other adhesives, the water-based category is predicted to hold the lion's share of the worldwide construction adhesive market. Water-based construction adhesive suppliers may open up new markets by developing new products and investing more in R&D.
The market is divided into residential, commercial, and industrial segments based on end-use. Due to incentives for first-time homeowners, the residential segment is anticipated to have a disproportionately large share of the worldwide construction adhesive market. Due to the rising demand for novel and creative goods and the need for R&D in construction adhesives, businesses have implemented organic and inorganic growth methods to improve their market shares.
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Due to the rise of the construction industry and the region's development of a cutting-edge modern infrastructure, the Asia Pacific region is predicted to hold a disproportionately large part of the worldwide market for construction adhesive. The growing construction industry in the developing economies of Asia-Pacific, including India and other Southeast Asian countries, is expected to drive growth in the construction adhesives and sealants market over the forecasted period.
MARKET SEGMENTATION
The Global Construction Adhesive Market is segmented by Resin Type, Technology, Application, End User, and Region. Based on the resin type, the market is categorized into acrylic, polyurethanes, polyvinyl acetate, epoxy & others. Based on technology, the market is categorized into water-based, Solvent-based, Reactive & Others. Based on application, the market is categorized into insulation, pressure sensitive tapes & labels, waterproofing, walls & panels, concrete & others. Based on end-use, the market is categorized into residential, commercial and industrial. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global Construction Adhesive Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
The Asia Pacific region is expected to dominate the market share owing to the boom in the building industry, and the region is creating a high-tech, modern infrastructure. The growing construction industry in the developing economies of Asia-Pacific, including India and other Southeast Asian countries, is expected to drive growth in the construction adhesives and sealants market over the forecasted period. According to the Government of India and the India Brand Equity Foundation, the Indian construction industry (IBEF). For instance, it is said that the Indian government meticulously prepared the two new subsidy programs under the Prime Minister Awas Yojana (PMAY). Two new subsidy slabs are expected to make housing accessible to everyone by 2022, according to the government. Instead of the current 15-year cap, these programs will be applicable to loans with a 20-year duration.
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