New York, USA, Dec. 28, 2022 (GLOBE NEWSWIRE) -- Construction Adhesive And Sealant Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Construction Adhesive And Sealant Market Information by Product, Technology, End-Use, And Region - Forecast till 2030”, the market is estimated to grow at a 7.5% CAGR to reach USD 14.5 Billion by 2030.
Market Synopsis
Due to its quick working time, adaptability, and quick bonding capabilities, construction adhesive tape is the newest trend on the market. Engineers in numerous industries, from the automotive to aviation, are starting to favor these cassettes. For all types of assemblies, adhesives are an alternative to mechanical fasteners. Depending on the application, adhesives can be created in various viscosities and can even be drawn into films and tapes. These are also growing in favor due to the low labor and production costs. Chemical compounds known as adhesives join two different surfaces into one impermeable entity. High tensile and shear strengths are present in adhesives, including glue, mucilage, paste, and cement, which are utilized for various holding and bonding purposes. Sealants have adhesive qualities and fill, are waterproof, and seal gaps between two surfaces.
Sealants offer improved mobility between surfaces by resisting substrate movement compared to adhesives. In addition, the construction industry extensively uses adhesives and sealants with high shear and tensile strengths. Tapes and labels, roof and floor materials, and insulation materials, among others, all employ construction adhesives and sealants extensively. These reasons will likely cause the market for building adhesives and sealants to grow rapidly throughout the projected period. The last ten years have seen a rise in the use of polyester hot melt adhesives in the textile and apparel sector. Over the past few years, the product has been used more widely in the sub-sector of cotton, wool, and textiles. The solution significantly enhances the anti-pilling effectiveness of cotton-woven fabrics while boosting the fabric's elastic recovery rate.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 14.5 Billion |
| CAGR | 7.5% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Technology, End-Use, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Their increasing demand in ceramic tile, pre-finished panels, roofing, wall covering, concrete, pipe cement. |
| The development of high-performance adhesives and sealants such as eco-friendly sealants along with adhesives and sealants by UV cure. |
Market Competitive Landscape:
The eminent contenders in the construction adhesive and sealant market are:
- Arkema S.A. (France)
- Ashland (U.S.)
- DAP Products Inc. (U.S.)
- Huntsman International LLC (U.S.)
- Henkel AG & Co. KGaA (Germany)
- H.B. Fuller Company (U.S.)
- Solvay (Belgium)
- Berry Global Inc. (U.S.)
- Wacker Chemie AG (Germany)
- Royal Adhesives & Sealants (U.S.)
- PPG Industries, Inc. (the U.S.)
- MAPEI SpA (Italy)
- BASF SE (Germany)
- Avery Dennison Corporation (U.S.)
Market U.S.P. Covered:
Market Drivers:
The market is anticipated to expand rapidly due to the use of adhesives and sealants in the construction and building industry. The substitution of durable materials for commodities like metal, aluminum, and paper in material use patterns. With the development of high-performance polymers and formulas, their use has expanded quickly. They are regarded as the most crucial building materials, and as new technology and design methods are adopted, the market is expected to expand.
Additionally, artisans and contractors are continually testing the newly manufactured products, forcing producers to run tests on new product advancements. The food & beverage industry's consistent need for packaging products is expected to continue to be the main driver of the market in the United States. In addition, the U.S.'s growing number of cheap shops and the strong potential for grocery shopping is projected to drive up demand for packaging adhesives. This will undoubtedly have a positive impact on the market's long-term growth.
Market Restraints:
During the anticipated period, the cost of raw materials like synthetic fibers, crude oil, and resins is projected to restrain the growth of the worldwide construction adhesives and sealants market.
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COVID 19 Analysis
Adhesives and sealants are in lower demand than expected in all regions compared to pre-pandemic levels due to the unprecedented and overwhelming global COVID-19 pandemic. The COVID-19 outbreak has impacted most global supply chains. A logistical problem has arisen partly due to a lack of resources and labor. Alcohol is one of the basic ingredients that has been diverted to other businesses so they can make sanitizers and other necessary products.
Additionally, the market's lack of consumers has had a significant negative influence on enterprises. The COVID-19 epidemic has brought attention to the value of a strong healthcare system. People are becoming more informed and cognizant of the healthcare services that they receive on a global scale. It is anticipated that the healthcare sector will increase during the projected period, especially in emerging economies like China and India, where the market is untapped and has tremendous growth potential.
Market Segmentation
By end use, the market includes waterproofing, pressure-sensitive tapes & labels, walls & panels, roof & floors, and insulation. By product type, the market includes natural adhesives & sealants, emulsions & dispersions, hot melt, polyurethane, and epoxy. By technology, the market includes reactive, waterborne, and solvent-borne.
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Regional Insights
Due to the rapid expansion of the construction sector and the creation of sophisticated modern infrastructure throughout the region, Asia-Pacific is estimated to control more than one-third of the worldwide market share and is anticipated to maintain its dominance during the projection period. During the anticipated period, the construction adhesives and sealants market is anticipated to rise due to the expanding construction sector in the rising economies of Asia-Pacific, such as India and other Southeast Asian nations. Due to these factors, the construction adhesive and sealant market is projected to expand rapidly during the forecast period. The construction industry is expected to develop at the greatest CAGR in Middle Eastern nations during the projection period. The housing market in GCC nations did not fare well recently. The drop in oil prices and the economic slowdown mostly brought this on. The investments in residential construction, energy, and transportation infrastructure are expected to boost the construction industry's performance in the upcoming years.
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