Construction Adhesive Industry Overview
The global construction adhesive market size is expected to reach USD 15.34 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to advance at a revenue-based CAGR of 5.3% from 2022 to 2030. The emergence of COVID-19 affected the construction industry around the world in 2020, and its impact continued in 2021 and 2022 as well in certain countries.
Construction Adhesive Market Segmentation
Grand View Research has segmented the global construction adhesive market on the basis of resin type, technology, application, and region:
Based on the Resin Type Insights, the market is segmented into Acrylic, Polyurethanes, Polyvinyl Acetate, Epoxy, Others.
- Acrylic was the largest segment in 2021 and accounted for a revenue share of over 45.0% of the global market. The preference for acrylic adhesives is increasing in the construction sector mainly due to exceptional bonding properties, good impact strength, and excellent water resistance. The segment is projected to witness a growth rate of 5.1% from 2022 to 2030.
- Epoxies are structural adhesives and are likely to observe a growth of 4.8%, in terms of revenue, during the forecast period. These adhesives can be used on various substrates in the construction industry, wherein a strong bond is required.
- In terms of volume, the polyurethanes segment accounted for a volume share of over 11.0% in 2021 and is likely to grow at a lucrative pace. Polyurethane adhesives are paintable, have water resistance, low odor, low VOC content, and the ability to work in cold and hot environments.
Based on the Technology Insights, the market is segmented into Water-based, Solvent-based, Reactive & others.
- In terms of revenue, water-based products accounted for a share of nearly 44.0% in 2021 of the global market. Products made using this technology have higher moisture resistance compared to other adhesives, which is likely to contribute to the growth of the segment.
- Solvent-based products are used in high-performance applications in the construction industry and are likely to witness lucrative growth during the projection period. Demand from structural and non-structural applications is projected to keep a positive momentum for this segment.
Based on the Application Insights, the market is segmented into Residential, Commercial, Industrial.
- In terms of volume, the residential segment accounted for a market share of over 32.0% in 2021. Incentives for first-time house buyers are projected to assist the residential construction sector around the globe.
- The commercial segment is likely to observe a growth rate of 5.6%, in terms of revenue, from 2022 to 2030. Government packages and incentives are projected to boost infrastructure and residential sectors, thereby positively influencing the growth of the construction adhesive market.
- The industrial application segment accounted for a revenue share of over 30.0% in 2021. Increasing FDIs in emerging countries, particularly for manufacturing industries, is likely to bolster the market growth of the industrial segment.
- For instance, in December 2021, the Maharashtra government in India signed MoUs worth around USD 659.7 million for various sectors such as steel, electric vehicles, space research, biofuel, food processing, and ethanol production, among others.
Construction Adhesive Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
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
- Bostik SA
- DAP Products, Inc.
- H.B. Fuller
- Henkel AG & Co. KGaA
- Sika AG
Order a free sample PDF of the Construction Adhesive Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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