Construction Adhesive Industry Overview
The global construction adhesive market size was valued at USD 9.65 billion in 2021 and is expected to reach USD 15.34 billion by 2030, projecting to advance at a revenue-based CAGR of 5.3% during forecast period.
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. This addition can be more in some countries, including the U.S. and Brazil where it is up to 1.3% and 1.5%, respectively. Emerging economies are expected to remain key markets for construction adhesives demand, as 60% of infrastructure investment is projected to be attracted by these countries.
Gather more insights about the market drivers, restrains and growth of the Global Construction Adhesive Market
Commercial construction is anticipated to remain a key driver for the long-term growth of the U.S. market. It accounted for over 34.0% of the revenue share in 2021 and is likely to grow at a moderate CAGR during the forecast period. Adhesives are widely utilized in commercial and residential buildings for bonding insulation foams, plastics, wood-based panels, plasterboard panels, and other synthetic raw materials.
The non-residential sector spending remained low for the most part of 2021. Spending across offices, healthcare, educational, transportation, and commercial settings witnessed the largest y-o-y decline in July 2021. Overall spending declined by 11% in July 2021, compared to pre-pandemic levels. However, additional funding for infrastructure is likely to boost the spending over the next few years.
Regardless of the challenges associated with the supply chain, such as higher costs for raw materials and building materials, non-availability of materials, and lack of skilled labor, the residential sector in the country is likely to witness stable growth in the near future. The residential construction sector is mainly supported by strong demand for bigger houses, low mortgage rates, and low housing inventory in the U.S. Infrastructure investments in the country are likely to boost the demand for adhesives over the coming years.
Construction Adhesive Market Segmentation
Based on the Resin Type Insights, the market is segmented into acrylic, polyurethanes, polyvinyl acetate, epoxy and others
Based on the Technology Insights, the market is segmented into water-based, solvent-based and reactive & others
Based on the Application Insights, the market is segmented into residential, commercial and industrial
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Market Share Insights:
Key Companies Profile:
The construction adhesive players in the market are focusing on new product developments, which are eco-friendly and have low VOC emissions. Also, they are focusing on the development of products with the ability to join different types of substrates, high bonding strength, and consistent performance.
Some prominent players in the global construction adhesive market include:
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