World Construction Adhesive and Sealant Market is supposed to cross the figure of USD 12 billion mark by 2022 | forecast MRFR
The global construction adhesive sealant market is growing with the moderate pace; mainly due to the increase in the global foreign direct investment (FDI) inflows. According to a recent study report published by the Market Research Future, The global construction adhesive sealant market is booming and expected to gain prominence over the forecast period growing rapidly .The market is forecasted to demonstrate a decent growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
The Market is going to continue with the same trends of growth during the forecast period. The major drivers will be increasing FDI in construction in Asia-Pacific region, and supportive government regulations and policies that push the expansion infrastructure growth and construction industry. There is seen an increase in the global foreign direct investment (FDI) inflows. The FDI inflows in construction in Asia-pacific region has led to increased construction projects and real-estate development. This along with FDI in retail has pushed the number of retail outlets in the region. This induces the demand for construction adhesive sealant in the region.
The market is driven by its features such as high performance bonding at low add-on levels, enhanced security with olefin based nonwoven hygiene construction adhesive product lines, works under elevated ambient temperatures, and has thermal stability among others.
Regional Analysis of Construction Equipment Market
The regional analysis of Construction Equipment market is being studied for areas such as Asia pacific, North America, Europe and rest of the world. APAC would be the largest growing market in terms of revenue generation because of increased investment in construction and infrastructure to support the economic development and rapid population growth.
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The key players of global Construction Adhesive and sealant market report include- 3M Company, Henkel A&G, Bostik SA, Sika AG, H.B. Fuller, Franklin International, ITW Polymers Sealants North America, DAP Products Inc., Avery Dennision Corporation, and The Dow Chemical Company.
Global Construction Adhesive Sealant Market - Competitive Analysis
Characterized by the presence of several well-established along with medium and small players, the global market of construction adhesive sealant appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. In order to maintain the position and share in the market, major players have adopted certain strategies.
Bostik SA (France) continues to expand its manufacturing capacities with the opening of a new facility in Gujarat (India). The new facility will produce advanced hot melt pressure sensitive adhesives (HMPSA). It will support the strong growing demand for its products in both India and export markets.
In 2016, Henkel Corporation (U.S.) launched waterproof construction adhesive. The adhesive has an instant grab that holds in couple of seconds, and thus reduces the need for nails and screws. It is specially formulated to work on wet surfaces.
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