The growth in the middle-class residents has resulted in a peak in the need for houses which is anticipated to push the construction adhesive market growth.
Newark, Aug. 02, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global construction adhesive market is expected to grow from USD 9.61 billion in 2021 to USD 15.16 billion by 2030, at a CAGR of 5.2% during the forecast period 2022-2030.
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Growing end-user demand for moisture resistance adhesive, heat, and quick fixing adhesives persisted in pushing the need for construction adhesive. Over the past few years, the construction industry has increased multifaceted. Construction businesses use construction adhesive to fix leakage roofs, waterproofing, and other applications. Companies are using construction adhesive to substitute the conventional method of fixing material with wood glue, nuts and bolts, and contact cement. These procedures were costly and took considerable time to dry, and ultimately, they increased the production price. Also, adopting digitization and growing technologies is another crucial element that can raise the building & construction sector and related materials over the long run. Contractors can use remote partnerships at different stages of projects using digital mode. Distributors of adhesives and other building materials focus on minor physical interactions, and specifically with electronic commerce sites, the sales teams can manage consumers and demands with digital tools.
To enhance their market position in the global construction adhesive market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
In April 2021, Sika acquired Hamatite, a top producer of automotive and construction adhesives; The agreement was made to develop adhesion and sealing product offerings for Japan’s construction industry and strengthen Sika’s entrance to Japanese OEMs.
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Adhesives are chemical substances used to merge two different surfaces into a single form that is not separated easily. Adhesives such as mucilage, paste, glue, and cement involve increased flexibility and strong strength used for different holding and bonding procedures. Sealants include adhesive properties for filling, sealing, and waterproofing gaps between two surfaces. As compared to adhesives, sealants deliver better flexibility between the surfaces. Adhesives and sealants have significant applications in the construction enterprise. Construction adhesives are primarily utilized in roofs & floors, tapes & labels, and insulation materials. Due to these elements, the construction adhesives market is anticipated to drive during the projection duration. Regardless, some limitation is expected to restrict the growth of the global construction adhesives market. The North American and European regions have stringent environmental regulations for construction adhesives, which hamper the expansion of the market. Furthermore, the challenges such as established infrastructure in the developed countries are anticipated to inhibit the growth of the global construction adhesives market.
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• In 2021, the waterborne segment dominated the market with the largest market share of 27% and market revenue of 2.59 billion.
The technology segment is divided into solvent-borne technology, reactive technology, waterborne technology, & others. In 2021, the waterborne segment dominated the market with the largest market share of 27% and market revenue of 2.59 billion. Waterborne technology has increased moisture resistance to other adhesives, probably contributing to the segment's growth. Recent product growth and an expansion in research & development spending are possible to suggest new avenues for vendors of waterborne construction adhesives.
• In 2021, the polyurethane (PU) segment dominated the market with the largest market share of 25% and market revenue of 2.40 billion.
The resin type segment is divided into polyvinyl acetate (PVA), polyurethane (PU), epoxy, acrylic adhesive, & others. In 2021, the polyurethane (PU) segment dominated the market with the largest market share of 25% and market revenue of 2.40 billion. Polyurethane adhesives have water resistance, are paintable, have low odour, lower VOC content, and the capability to function in hot and cold environments. They are utilized in the interior as well as exterior construction applications.
• In 2021, the residential segment dominated the market with the largest market share of 32% and market revenue of 3.07 billion.
The end-user segment is divided into infrastructure, residential, & non-residential. In 2021, the residential segment dominated the market with the largest market share of 32% and market revenue of 3.07 billion. The development in the real estate sector will help the residential construction industry grow worldwide.
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Regional Segment Analysis of the Construction Adhesive Market
• North America (U.S., Canada, Mexico) • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global construction adhesive market, with a market share of around 33.5% and 3.21 billion of the market revenue in 2021. The commercial buildings and offices in the region have increased over the last few years due to the expansion of significant economic & business hubs, and the battle among the construction players for attractive looks and sustainable & economic construction has also raised the need for construction adhesives.
Key players operating in the global construction adhesive market are:
• 3M Company • 5M • Ardex • Chang Chun Group • DowDuPont • Epotek • Foshan Xinboqiao Electronic Co.Ltd. • Henkel • Jiangxi Tengde Industrial Co. Ltd. • MAPEI • Masterbond • MG Chemcials • Nan Ya Plastics Corporation • Permabond • Powerblanket • SHENZHEN MEITAIBANG CHEMICAL CO. LTD. • SHENZHEN TIANMAXUN TECHNOLOGY CO.LTD. • Shenzhen Zhengdasheng Chemical Co. Ltd. • The Gorilla Glue Company
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global construction adhesive market based on the below-mentioned segments:
Global Construction Adhesives Market by Technology:
• Solvent-borne Technology • Reactive Technology • Waterborne Technology • Others
Global Construction Adhesives Market by Resin Type:
• Polyvinyl Acetate (PVA) • Polyurethane (PU) • Epoxy • Acrylic Adhesive • Others
Global Construction Adhesives Market by End User:
The global construction adhesive market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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