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Industry Insights, Market Size, CAGR, High-Level Analysis: Construction Adhesive MarketThe global construction adhesive market size was valued at USD 9.1 billion in 2018 and is expected to progress at a CAGR of 5.5% from 2019 to 2025. Increasing consumption of adhesive products for flooring applications in buildings is anticipated to fuel the market growth. Adhesives are used for waterproofing, roofing, cladding, and insulation applications in construction activities. Infrastructural development along with rising investments in Asia Pacific has resulted in the fast growth of construction sector, which has observed overall improvement in building designs and technology. This is expected to promote the consumption of building materials in residential and commercial applications. In recent years, many apartments and buildings have witnessed increased use of timber, which is a renewable building material. Advanced adhesive technology has made it easy to build safe and sustainable houses using such materials. These traditional materials are popular in countries such as the U.S. and the Scandinavian region. The popularity of timber in construction applications is growing at a rapid pace. Load-bearing structures consisting of layers of different timbers can be glued together using adhesives. Structures of varying lengths that can withstand high pressure can be built. Moreover, curved structures can also be created by laminating wood with suitable glue. Floors in airports, residential buildings, and hospitals require a large number of adhesive products. The product demand can differ as per the applications owing to various loads and applications in flooring. For instance, flooring at airports must withstand the weight of baggage, passengers, and heavy machinery. Hospitals require adhesive flooring that can conduct electricity, especially for ICUs and surgery rooms. Increasing income levels have boosted the demand for advanced architecture and home decor. In recent years, growing popularity of trendy home decor including wallpapers has led to increased demand for wall adhesives. The availability of various patterns, designs, and surface textures for wallpapers is anticipated to present numerous opportunities for construction adhesive market participants.
Resin InsightsIn terms of volume, acrylic segment is expected to advance at a CAGR of 4.7% from 2019 to 2025 owing to its wide penetration in construction applications. Construction industry prefers acrylic adhesives as they offer excellent water resistance, have good impact strength and exceptional bonding properties. Acrylic adhesive segment accounted for 45.0% of the total market revenue share in 2018. New construction principles and joining methods are contributing to the use of wood in construction structures. Wood is increasingly being used in bridges, schools, offices, theaters, transmission towers, and multi-family dwellings. Polyurethane products have advantages such as solvent-free nature, direct application, and environmental compatibility, which make them suitable for use in wood applications. Polyvinyl acetate (PVA) construction adhesives have been widely used owing to their useful and versatile performance in a wide variety of applications such as packaging, furniture, envelopes, paper lamination, textiles, and construction. PVA can be easily removed and be quickly made available for re-gluing. The market segment is anticipated to progress at a CAGR of 6.5% over the forecast period in terms of revenue.
Technology Insights of Construction Adhesive MarketWater-based adhesives offer high moisture resistance compared to other adhesives, which is expected to positively influence the segment growth over the forecast period. This segment accounted for the highest revenue share of 44.7% in 2018. Technological advancement has widened the application scope of water-based adhesives in recent years. Solvent-based products are used in various high-performance applications in construction industry and this segment is anticipated to progress at a CAGR of 5.1%, in terms of revenue, from 2019 to 2025. These adhesives are widely used in both structural and non-structural applications. Growing product consumption in Asia Pacific countries is projected to remain the key focus of market vendors. Key market participants are involved in formulating innovative products using their global R&D capabilities and technical knowledge to drive advanced adhesive solutions.Reactive adhesives have witnessed a high growth rate in recent years owing to their excellent durability under adverse environmental conditions as well as high bond strength.
Application Insights of Construction Adhesive MarketIn terms of volume, residential segment accounted for 31.0% of the total market share in 2018. Government incentives & funding for first-time homebuyers in both developed and developing countries have positively influenced the growth of residential sector. The governments of countries such as India, Germany, Canada, and Australia have announced various benefits under different schemes to promote real estate market. For instance, in Germany, first-time buyers having children and an annual income of less than USD 88,000 can avail a subsidy of around USD 14,000. Spending on infrastructure and construction activities in emerging countries is one of the key drivers for the market. Countries including India, China, and Brazil are spending a considerable amount on the construction of bridges, highways, airports, and water infrastructure. For instance, the Government of India, under the Regional Air Connectivity initiative, has plans to develop around 100 airports over the next 15 years. Industrial construction is anticipated to display lucrative growth in the market in various regions on account of increasing demand from industrial facilities. Growing demand has been observed for efficient and effective adhesive products in industrial applications. China is projected to remain a key consumer in this segment.
Regional Insights of Construction Adhesive MarketAsia Pacific market accounted for the highest revenue share in 2018 and the regional industry is expected to grow at a lucrative CAGR of 6.2% over the forecast period. The region is expected to witness extensive product demand in construction industry over the forecast period owing to the booming infrastructural development activities. Numerous government regulations regarding sustainable construction have prompted the development of smart cities, which is a key driver for construction adhesives in the region. In terms of revenue, the Middle East & Africa is anticipated to progress at a CAGR of 4.8% over the forecast period. The emergence of megacities and transportation infrastructure has created numerous opportunities for construction material suppliers and manufacturers. Rising trend of urbanization is projected to assist the market growth. As per the UNs World Urbanization Prospectus 2018, the global urban population is projected to reach 68% by 2050. North America was valued at USD 3.0 billion in 2018. There is massive investment requirement in the U.S. owing to the aging of infrastructure. For instance, between 2016 and 2025, the U.S. airports accounted for a funding gap of USD 42 billion. Increasing investments over the coming years are anticipated to fuel construction activities in the region.
Market Share Insights of Construction Adhesive MarketThe companies in the market are highly focused on R&D investments and the development of new and advanced products for use in construction sector. Geographical expansion is also one of the key strategies adopted by market participants. In 2017, Bostik S.A. opened a new production facility in India. It is anticipated to assist the growing demand for construction adhesives in both the export and Indian markets. The industry is highly competitive and fragmented. Some of the market players include 3M Company, H.B. Fuller, The Dow Chemical Company, Sika AG, Henkel AG & Co., KGaA, DAP Products, Inc., Bostik S.A. (An Arkema Company), Franklin International, Avery Dennison Corporation, and Illinois Tool Works Incorporation.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Construction Adhesive Market Research ReportThis report forecasts revenue growth at the global and regional levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global construction adhesive market report based on resin type, technology, application, and region:
Resin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
- Acrylic Adhesive
- Polyvinyl Acetate
Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
- Reactive & Others
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1 Methodology and Scope 1.1 Market segmentation & scope 1.2 Market definition 1.3 List of data sources 1.4 Information procurement 1.5 Information analysis 1.6 Market formulation & data visualization 1.7 Data validation & publishingChapter 2 Executive Summary 2.1 Market outlook 2.2 Segmental outlook 2.3 Segmental outlook 2.4 Competitive InsightsChapter 3 Construction Adhesi | read more...