CONSTRUCTION ADHESIVE MARKET: OVERVIE
The 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%. In both commercial and residential constructions, adhesives are used to affix plastics, insulating foams, plasterboard panels, wood-based panels, and other synthetic raw materials. The need for adhesives is anticipated to rise over the next years as the nation's infrastructure is improved. In order to strengthen the country's economy, the U.S. government presented a USD 1.2 trillion infrastructure plan in June 2021. The plan calls for advancements in internet, power, water management, telecommunications, and other areas.
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The COVID-19 outbreak has a detrimental effect on the global market for construction adhesive. The pandemic's impact on commercial and other industrial activities is anticipated to impede the growth of the construction industry. Due to COVID-19, construction material providers in Singapore, France, Germany, and other countries have suffered greatly. Construction adhesives' market share may soon be constrained by price hikes and issues with supply shortages in this sector. The sluggish but steady recovery of the public and commercial infrastructure projects in the emerging nations may result in an increase in the demand for construction materials during the next years. Additionally, a lack of raw materials would impede the expansion of the worldwide market for construction adhesive.
CONSTRUCTION ADHESIVE MARKET: TREND
Growing Global Urbanization is Propel Market Growth
Demand for construction adhesives is projected to rise as infrastructure investments increase globally. Increased demand from the non-residential and residential sectors, government incentives for affordable housing to promote building activity, and continuing infrastructure projects have been the main drivers of the construction adhesives market's spectacular rise.
CONSTRUCTION ADHESIVE MARKET: DRIVERS
Rising Smart City Projects Drive Market Growth
The market will grow more quickly as a result of the increased construction of smart cities and the expansion of public infrastructure throughout rural regions in developing countries. Applications for smart cities are made to regulate traffic in cities and provide rapid responses.
Government Support for Infrastructure Project Expenditures
Increased demand from the non-residential and residential sectors, government incentives for affordable housing to promote building activity, and continuing infrastructure projects have been the main drivers of the construction adhesives market's spectacular rise. With the emergence of new end-use activities like new construction works, repairs, maintenance, and renovation of floors, roofs, wall coverings, beams, and airport construction, among others, the demand for adhesives has increased in APAC countries like India, China, Indonesia, Vietnam, Malaysia, and Thailand.
Global Construction Adhesive Market Report Coverage
|Market Size in 2021:||USD 10.50 Billion|
|Forecast Period 2021-2030 CAGR:||5.2%.|
|2030 Value Projection:||USD 15.11 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||225|
|Tables, Charts & Figures:||117|
|Segments covered:||COVID-19 Impact Analysis Report, By Resin, By Technology, By Application, By End-Use, By Region|
|Companies Covered:||3M, AVERY DENNISON CORPORATION, BASF SE, Benson Polymers, Bostik, DAP Products Inc., Dow, Franklin International, Gorilla Glue Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Hexcel Corporation, Huntsman International LLC, Illinois Tool Works, Master Bond Inc., McCoy Soudal, Sika AG.|
|Growth Drivers:||1)The Global Construction Adhesive Market is segmented by Resin Type, Technology, Application, End User, and Region.2)The Global Construction Adhesive Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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CONSTRUCTION ADHESIVE MARKET: RESTRAIN
Concerns Pertaining to the Environment Regulations
As environmental concerns and regulatory requirements increase, the government is placing a greater emphasis on environmentally friendly construction adhesives solutions for a range of applications. Henkel's OSI Green Series includes environmentally friendly caulks, sealants, and adhesives for the green building process. Due to stricter environmental protection regulations, solventborne construction adhesives have been banned in a number of countries in North America, Europe, and portions of APAC.
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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However, North America is likely to see the greatest growth rate in the global construction adhesive market throughout the period of forecasting due to the robust economic growth, rising population of new families, and affordable mortgage rates. The predicted timeframe is expected to see a decline in the market for multi-family housing, which might have a mild effect on residential construction.
CONSTRUCTION ADHESIVE MARKET: KEY PLAYERS
- AVERY DENNISON CORPORATION
- BASF SE
- Benson Polymers
- DAP Products, Inc.
- Franklin International
- Gorilla Glue Inc.
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Hexcel Corporation
- Huntsman International LLC
- Illinois Tool Works
- Master Bond Inc.
- McCoy Soudal
- Sika AG
CONSTRUCTION ADHESIVE MARKET: RECENT DEVELOPMENT
- In April 2021, Sika purchased Hamatite in order to strengthen its position in the Japanese market, enhance its access to all important Japanese OEMs, and, in particular, broaden the selection of materials it could utilise for bonding and sealing in the nation's construction industry.
- In October 2020, H.B. Fuller will introduce Gorilla Professional GradeTM, a new brand of Professional Grade MRO (Maintenance, Repair, and Operations) Industrial adhesives, sealants, and lubricants that will be sold in the US and Canada.
CONSTRUCTION ADHESIVE MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Construction Adhesive Market. The Global Construction Adhesive Market is segmented by Resin Type, Technology, Application, End User, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Construction Adhesive Market.
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