PUBLISHER: The Business Research Company | PRODUCT CODE: 1391124
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391124
“Construction Adhesives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on construction adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for construction adhesives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The construction adhesives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Construction adhesives play a crucial role in various applications such as waterproofing, roofing, carpet laying, cladding, and insulation within the construction industry. These adhesives are designed to permanently bind diverse materials, providing enhanced efficiency and design flexibility. They are commonly employed in attaching drywall, tiles, holdings, and fixtures to walls, ceilings, and floors during construction activities.
The primary types of construction adhesives include water-based, solvent-based, hot-melt, and reactive adhesives. Water-based adhesives are known for their fast action and the ability to create high-strength bonds in construction applications. They utilize water as a solvent to form the coating. Various resin types, including acrylic adhesive, polyurethane (PU), polyvinyl acetate (PVA), and epoxy, are employed in construction adhesives, catering to a range of applications in residential, commercial, and industrial settings.
The construction adhesives market research report is one of a series of new reports from The Business Research Company that provides construction adhesives market statistics, including construction adhesives industry global market size, regional shares, competitors with a construction adhesives market share, detailed construction adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the construction adhesives industry. This construction adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The construction adhesives market size has grown strongly in recent years. It will grow from $11.15 billion in 2023 to $12.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth observed in the historical period can be attributed to various factors, including construction and infrastructure projects, building renovations and repairs, an increasing demand for green building and sustainability initiatives, rising regulatory compliance requirements, and the trends of urbanization and population growth. These factors collectively contributed to the expansion and development of the construction industry during that time.
The construction adhesives market size is expected to see strong growth in the next few years. It will grow to $17.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of digital construction workflows, the implementation of circular economy practices, adherence to construction safety standards, growth in emerging markets, and a heightened adaptation to changing climate conditions. Major trends expected during this period encompass the utilization of high-performance and specialty adhesives, the promotion of innovative prefabrication and modular construction methods, the introduction of sustainable and low-VOC adhesives, the integration of innovative technologies, and the incorporation of smart building technologies.
The anticipated increase in construction activities is set to drive the growth of the construction adhesives market. Construction, involving the assembly of materials to create large structures, is witnessing heightened activities in both residential and non-residential building projects. Notably, according to data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, there was a 4% increase in the completion of new residential housing construction units in 2021, totaling 1,337,800 units compared to the previous year. This surge in construction activities is a significant factor fueling the growth of the construction adhesives market.
The growth trajectory of the construction adhesives market is further propelled by increased investment in the infrastructure sector. The infrastructure sector encompasses physical and organizational systems and facilities supporting various aspects of modern society, such as transportation, energy, communication, and public services. Investments in this sector create opportunities for the development of innovative construction methods, materials, and technologies, thereby boosting the demand for construction adhesives. As per a report from the UK Office for National Statistics, total general government infrastructure spending witnessed a notable 15.2% increase in 2021 compared to the previous year, reaching £23.8 billion in current prices. This upswing in infrastructure investment is a key driver for the growth of the construction adhesives market.
Construction companies are increasingly adopting bio-based adhesives in their construction activities, aligning with the growing awareness of environmental issues and the need for sustainable solutions. Bio-based adhesives, with a low carbon footprint and compatibility with various substrates, are made from renewable, bio-based materials. These environmentally friendly adhesives exhibit beneficial mechanical and chemical properties, contributing to their efficiency. For example, in May 2021, Henkel AG & Co., a Germany-based chemicals company, introduced LOCTITE HHD 3544F, the industry's first bio-based adhesive. Two-thirds of its content is sourced from renewable, plant-based feedstocks, exemplifying the industry's commitment to environmentally conscious practices in construction activities.
Major players in the construction adhesives market are actively developing innovative products like NuplavivaTM to expand their global presence and gain a competitive edge. NuplavivaTM is designed to contribute to a more sustainable and circular economy by reducing dependence on fossil carbon and facilitating incremental sustainable changes. As an example, in September 2021, Bostik SA, a leading French manufacturer of construction adhesives, introduced NuplavivaTM c50 and NuplavivaTM c75. These products contain 50% and 75% biosourced material, respectively, while maintaining the same performance and processability as Bostik's classic adhesive compositions.
In a strategic move in July 2022, H.B. Fuller Company, a prominent US-based manufacturer and distributor of sealants, adhesives, and specialty chemical products, acquired Fourny NV for an undisclosed amount. This acquisition aligns with H.B. Fuller's plan to enhance its manufacturing capabilities, product line, and workforce in Europe, with a particular focus on developing industries such as roofing and building envelopes. Additionally, the acquisition aims to improve supply chain management in the European region. Fourny NV, the acquired company, is a Belgium-based formulator specializing in industrial adhesives.
Major companies operating in the construction adhesives market include Minnesota Mining and Manufacturing Company., Adhesives Technology Corporation, Arkema SA, Avery Dennison Corporation, DAP Products Inc., Dow Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, ITW Performance Polymers, MAPEI S.p.A., Sika AG, Wacker Chemie AG, Ashland Inc., Don Construction Products Limited, Franklin International Group Ltd., Parker Hannifin Corp., LORD Corp., M-D Building Products Inc., RPM International Inc., BASF SE, Permabond LLC, ARDEX AMERICAS Inc., Huntsman International LLC, Bostik SA, Jowat SE, Pidilite Industries Limited, Royal Adhesives & Sealants LLC, The Dow Chemical Company, Akzo Nobel N.V., Chemence Inc., Collano Adhesives AG, Delo Industrial Adhesives LLC, Hexion Inc., Master Bond Inc., Parson Adhesives Inc.
Asia-Pacific was the largest region in the construction adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the construction adhesives market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The construction adhesive market consists of sales of construction adhesives by chemistry, such as acrylic adhesives, polyurethanes, and silicones. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.