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(Trending Report 2023) Global Demand For Construction Adhesive to Rise as Investments in Construction Equipment And Technologies Increases | Top Leading Players Like: 3M, AVERY DENNISON CORPORATION, BASF SE, Benson Polymers, Bostik, Dow and others
Construction Adhesive
The Global Construction Adhesive Market size was valued at USD 11.60 billion in 2021 and is expected to grow to USD 16.45 billion by 2030, recording a CAGR of 5.2% during the estimated period. Construction adhesives are usually those kinds of adhesives used for roofing, waterproofing, cladding, carpet laying, and other insulation applications during construction activities.
Growing investments in the infrastructure sector worldwide are likely to push the demand for construction adhesives during the forecast period. As per the United Nations' report on infrastructure in 2021, increasing investments in the infrastructure segment can add 0.6% to the global GDP. The primary drivers of the construction adhesives market's explosive growth have been increased demand from the non-residential and residential sectors, government incentives for affordable housing to stimulate construction activity, and ongoing infrastructure projects.
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The global construction adhesives market is expected to witness a surge in demand due to the rise in infrastructure investments worldwide. This growth can be attributed to the increased need for construction adhesives in both residential and non-residential sectors, as well as government initiatives aimed at promoting affordable housing and supporting infrastructure projects. As a result, the market for construction adhesives is expected to experience significant expansion in the coming years.
Key Market Players:
· 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
· Others
Recent Industry Developments:
April 2021- Sika acquired Hamatite to build up Sika's position in the Japanese market, expand market access to all significant Japanese OEMs, and especially increase the range of products available for sealing and bonding uses in the country's construction sector.
October 2020- H.B. Fuller launched a new line of Professional Grade MRO (Maintenance, Repair, and Operations) Industrial adhesives, sealants, and lubricants, Gorilla Professional Grade™, to be available in the United States and Canada.
Global Construction Adhesive Market Segmentation:
By Resin Type:
•Acrylic
•Polyurethanes
•Polyvinyl Acetate
•Epoxy
•Others
Based on resin type, it is categorized into acrylic, polyurethanes, polyvinyl acetate, epoxy & others. The acrylic segment is expected to dominate the market share of the global construction adhesive market owing primarily to their remarkable bonding capabilities, strong impact resistance, and superior water resistance, acrylic adhesives are becoming more and more popular in the construction industry. From 2022 to 2030, the segment is anticipated to increase at a rate of 5.1 percent.
By Technology:
•Water-based
•Solvent-based
•Reactive
•Others
Based on technology, the market is categorized into water-based, solvent-based, and others. The water-based segment is expected to dominate the market share of the global construction adhesive market owing to greater moisture resistance than products made with other adhesives, which is anticipated to aid in the segment's expansion.
By Application:
•Insulation
•Pressure Sensitive Tapes & Labels
•Waterproofing
•Walls & Panels
•Concrete
•Others
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Government Support for Expenditure on Infrastructure Projects To Drive Growth:
The primary drivers of the construction adhesives market's explosive growth have been increased demand from the non-residential and residential sectors, government incentives for affordable housing to stimulate construction activity, and ongoing infrastructure projects.
In APAC nations like India, China, Indonesia, Vietnam, Malaysia, and Thailand, the demand for adhesives has increased in line 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, amongst others.
The market will rise at a faster rate thanks to increased building of smart cities and expanding public infrastructure across rural areas in emerging nations. The applications for smart cities are created to control urban traffic and enable quick responses.
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By Region:
• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
North America to Account For Largest Market Share Due to Rising Technological Adoption Rates:
Asia Pacific region is expected to dominate the market share of the global construction adhesive market owing to expansion in the construction sector, and the area is developing a sophisticated contemporary infrastructure. During the anticipated period, the construction adhesives and sealants market is anticipated to rise due to the expanding construction sector in the rising economies of Asia-Pacific, such as India and other Southeast Asian nations.
However, the North America region is expected to witness the highest growth rate during the forecast period of the global construction adhesive market due to the strong economic expansion, an increase in new households, and cheap mortgage rates are anticipated to be the main drivers of residential construction growth.
TABLE OF CONTENTS:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Construction Adhesive Market
Chapter 5. Global Construction Adhesive Market Overview, By Resin Type, 2017 - 2030 (USD Million)
Chapter 6. Global Construction Adhesive Market Overview, By Technology, 2017 - 2030 (USD Million)
Chapter 7. Global Construction Adhesive Market Overview, By Application, 2017 - 2030 (USD Million)
Chapter 8. Global Construction Adhesive Market Overview, By End-Use, 2017 - 2030 (USD Million)
...TOC Continued
Browse Complete TOC: https://www.extrapolate.com/toc/Chemicals-and-Advanced-Materials/construction-adhesive-market/26030
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