The global construction adhesives market size is expected to reach USD 13.2 billion by 2025, witnessing a CAGR of 5.5% from 2019 to 2025, according to a new report by Grand View Research, Inc. Bio-based adhesives are expected to remain the key focus area for market participants owing to lesser environmental footprint.
In recent years, increasing environmental awareness has resulted in decreasing dependence on petroleum-based resources. Numerous research institutes and manufacturers are working on the applications of renewable materials in bio-based adhesive products. These products offer advantages such as less environmental & human toxicity and hydrophobicity. A shift toward green buildings is also anticipated to fuel the demand for such products over the coming years.
Increasing product consumption in construction applications including ceramic tiles, joint cement, concrete, HVAC, roofing, flooring, and wall covering is fueling the market growth. The consumption of adhesives is mainly driven by rising construction of new houses in different countries. For instance, in the U.S., private housing unit completion increased from 11,52,900 in 2017 to 11,84,900 in 2018. In terms of revenue, North America construction adhesives industry is projected to advance at a CAGR of 5.2% from 2019 to 2025, owing to investments in infrastructure sector.
Infrastructure construction is a major consumer sector of various building materials. It has a major impact on the gross domestic products (GDP). Both developed and developing economies concentrate on the improvement of their infrastructure. For instance, China is actively spending on the construction of airports, highways, railways, and water infrastructure. From January to March 2019, transport infrastructure investment in China increased by 4.8% compared to the previous year.
Emerging economies such as Brazil and India are projected to present numerous growth opportunities for market participants over the forecast period. According to the “Make in India” reports, construction sector in India is anticipated to be valued at USD 1 trillion by 2030, representing a massive opportunity for building material vendors. Infrastructure investment around the world is a major contributor to the market growth.
Silicone adhesive products have been witnessing a prominent demand over the last few years. These products play a key role in reducing the erosion in buildings as they offer resistance to wind, chemicals, heat, and moisture. They add a protective layer to the buildings, which improves water repellency and strengthens the bond. In commercial buildings, silicone adhesives serve as a structural attachment and they perform well under environmental and structural stress.
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Key Takeways Of The Report :
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Acrylic adhesive segment accounted for 45.0% of the total market revenue share in 2018. This is attributed to the exceptional bonding properties of the product and its wide penetration in construction applications
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Water based adhesive segment accounted for 53.4% of the total market volume share in 2018
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Asia Pacific was the largest regional market in terms of both volume and revenue in 2018 and is projected to maintain its position over the forecast period. Growing industrial output coupled with rising construction activities in the region are triggering the market growth
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Some of the key players present in the construction adhesives market are 3M Company, Sika AG, H.B. Fuller, The Dow Chemical Company, Henkel AG & Company KGaA and Bostik S.A. Market participants are focusing on capacity expansion along with new product development to cater to the growing product demand from regional and export markets.
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Grand View Research has segmented the global construction adhesives market on the basis of resin type, technology, application, and region:
Construction Adhesives Resin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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Acrylic Adhesive
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Polyurethanes
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Polyvinyl Acetate
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Epoxy
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Others
Construction Adhesives Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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Water Based
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Solvent Based
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Reactive & Others
Construction Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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Residential
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Commercial
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Industrial
Construction Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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U.K.
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France
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Asia Pacific
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China
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India
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Japan
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Central and South America
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MEA
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