APAC Is Dominating Construction Adhesives Market

The size of the construction adhesives market was USD 9,101.5 million in 2021, and the figure is set to rise at a CAGR of 5.3% in the duration of 2021-2030, and to reach USD 14,541.9 million by the end of this decade, as per P&S Intelligence.

This can be credited to the rising construction sector, and snowballing demand for low-VOC adhesives, including water-based adhesives and pressure-sensitive adhesives.

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For example, China presently has a large number of airport building projects in the stage of expansion, including, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, and Beijing Capital International Airport. Furthermore, the Chinese government has publicized key strategies for the relocation of 250 million public to new megacities in the coming ten years.

In 2021, the residential category held the largest revenue share, of approximately 60%, credited to the high-volume utilization of construction adhesives in residential constructions.

This can be ascribed to the increasing expenditure in residential construction actions than for commercial and industrial construction. According to an Indian government organization, the 'Housing for All" scheme is purpose to fetch investments of USD 1.3 trillion in the residential industry by 2025.

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The execution of strict guidelines by the government to bound the VOC content in adhesives is additionally boosting the market growth. For example, in 2020, China applied new VOC standards for businesses manufacturing coatings, inks, cleaning products, and adhesives. Likewise, the U.S. Green Building Council outlines the restrictions for the VOC content in adhesives and sealants.

Still, the mounting infrastructure expenditure throughout the globe is the key reason fuelling the growth of the market. For example, in February 2022, the Indian government allocated approximately INR 48,000 crore under the PM Housing Scheme for the building of 8 million residential accommodations by the end of 2023.
Hence, the rising construction sector, and snowballing demand for low-VOC adhesives, including water-based adhesives and pressure-sensitive adhesives will drive the construction adhesives industry.

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This release was published on openPR.