Construction Adhesives Market Thrives, Eyes $17.05 Billion by 2028 - Fueled by Digital Workflows, Circular Economy, and Sustainability

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The construction adhesives market has demonstrated robust growth, surging from $11.15 billion in 2023 to an estimated $12.14 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 8.9%. This positive momentum is anticipated to persist, with the market poised to expand further to $17.05 billion by 2028, maintaining a steady CAGR of 8.9%.

Anticipated Growth Factors in Forecast Period:
The forecasted period is expected to witness continued growth, fueled by factors such as the integration of digital construction workflows, the adoption of circular economy practices, adherence to construction safety standards, the burgeoning growth of emerging markets, and increased adaptation to changing climate conditions. Key trends in this period include the prominence of high-performance and specialty adhesives, innovations in prefabrication and modular construction, the introduction of sustainable and low-VOC adhesives, technological integrations, and the rise of smart building technologies.

Construction Activity Surge Propels Market:
A significant contributor to market growth is the escalating volume of construction activities. The construction sector, involved in assembling materials to create expansive structures, is witnessing increased activity in both residential and non-residential building projects. For instance, data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reveals a 4% increase in completed new residential housing construction units in 2021 compared to the previous year, reaching 1,337,800 units. This surge in construction activities serves as a driving force behind the flourishing construction adhesives market.

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Infrastructure Investment Boosts Market Expansion:
Rising investments in the infrastructure sector are pivotal to the growth trajectory of the construction adhesives market. The infrastructure sector encompasses the physical and organizational systems supporting various aspects of modern society, including transportation, energy, communication, and public services. Notably, the UK saw a 15.2% increase in total general government infrastructure spending in 2021 compared to the previous year, reaching £23.8 billion in current prices. This surge in infrastructure investment creates opportunities for innovative construction methods, materials, and technological advancements, thereby propelling the construction adhesives market.

Innovations and Sustainable Initiatives:
Innovations in the construction adhesives market include the adoption of eco-friendly bio-based adhesives, aligning with sustainable and efficient building practices. Construction companies are increasingly utilizing these adhesives, driven by a growing awareness of environmental concerns and the need for renewable, low-carbon footprint solutions. For instance, Henkel AG & Co. introduced LOCTITE HHD 3544F, the industry's first bio-based adhesive, sourcing two-thirds of its content from renewable, plant-based feedstocks.

Major players are also spearheading sustainable initiatives to gain a competitive edge. Notable among them is the development of Nuplaviva by Bostik SA, a bio-based adhesive aimed at fostering a circular economy and reducing reliance on fossil carbon. The market is witnessing a shift towards sustainable practices to meet the demands of environmentally conscious construction practices.

Regional Dynamics and Market Segmentation:
In 2023, Asia-Pacific emerged as the largest region in the construction adhesives market, with the Asia-Pacific region expected to exhibit the fastest growth in the forecast period.

The construction adhesives market covered in this report is segmented -
1) By Type: Water-based, Solvent-based, Hot-melt, Reactive
2) By Resin Type: Acrylic Adhesive, Polyurethane (PU), Polyvinyl Acetate (PVA), Epoxy
3) By Application: Residential, Commercial, Industrial

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Construction Adhesives Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Construction Adhesives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on construction adhesives market size, construction adhesives market drivers and trends, construction adhesives market major players, construction adhesives market competitors' revenues, construction adhesives market positioning, and construction adhesives market growth across geographies. The construction adhesives market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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