Selbyville, Delaware , Sept. 13, 2023 (GLOBE NEWSWIRE) -- Global Construction Adhesives Market could cross a valuation of USD 16.7 billion by 2032, according to the latest report by Global Market Insights Inc. Sustainability has become a central theme in the construction industry. As environmental regulations and consumer preferences shift towards eco-friendly and energy-efficient buildings, there is a growing demand for construction adhesives that are low in volatile organic compounds (VOCs), non-toxic, and have a reduced environmental impact. Manufacturers are developing green adhesives to meet these demands, thus driving market growth.
In August 2022, Aalto University researchers developed a bio-based adhesive suitable for replacing formaldehyde-containing adhesives commonly used in wood construction. This innovative adhesive primarily relies on lignin as its key raw material, which is a structural element found in wood and typically discarded or incinerated as a byproduct of the pulp industry's wood processing. By utilizing lignin as an alternative to formaldehyde, this adhesive offers a healthier and more environmentally friendly approach to incorporating wood into construction projects. Escalating R&D practices focused on developing eco-friendly adhesives will help strengthen the construction adhesives market outlook.
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The epoxy adhesives segment could accumulate a decent revenue share by 2032, as per the report. The demand for epoxy adhesives is surging within the construction sector due to their exceptional bonding strength and versatility. Epoxy adhesives provide robust adhesion for various construction materials, including concrete, metal, and plastics, enhancing structural integrity. Notably, they are extensively used in concrete repair, reinforcing cracked or deteriorating structures, and anchoring bolts in construction projects. Their ability to withstand extreme temperatures and harsh environmental conditions makes epoxy adhesives indispensable, ensuring long-lasting and resilient constructions, thereby driving their increased adoption in the construction industry.
The roofing adhesives segment could dominate the application landscape of the construction adhesives industry by 2032, claims the study. Construction adhesives are experiencing a surge in demand in roofing applications due to their effectiveness in ensuring secure and weather-resistant installations. Roofing adhesives provide a strong bond between roofing materials such as shingles, tiles, and membranes, preventing leaks and enhancing durability. For instance, adhesive sealants play a vital role in attaching flashing and sealing roof joints, critical for maintaining a watertight roofing system. With an increasing focus on energy efficiency and weatherproofing, construction adhesives have become essential in roofing projects, driving their high demand within the construction industry.
The report cites that the construction adhesives market share from the residential segment could expand at a notable CAGR through 2032, owing to the versatility, ease of use, and strong bonding properties of construction adhesives. Homeowners and contractors increasingly rely on adhesives for various tasks, from installing drywall, tiles, and flooring to repairing and remodeling. For instance, the use of adhesive-backed tiles eliminates the need for messy mortar in kitchen and bathroom renovations, making installations quicker and more convenient. Additionally, construction adhesives enhance insulation and energy efficiency, aligning with the growing emphasis on sustainable and eco-friendly residential construction practices. This heightened demand underscores their significance in residential projects.
Asia Pacific construction adhesives industry is experiencing significant growth due to several key factors. Rapid urbanization and infrastructure development in countries like China and India are driving the demand for construction adhesives in various applications, including building and transportation projects. Additionally, the region's expanding middle class and increased disposable income have fueled the construction of residential and commercial buildings, further boosting adhesive consumption. Furthermore, the adoption of green building practices and eco-friendly adhesives is on the rise, aligning with environmental concerns in the region, thereby contributing to the industry's growth in Asia Pacific.
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Notable players in the construction adhesives market are H.B. Fuller Company, BASF SE, 3M Company, Mapei Corporation, Dow Chemical Company, Bostik (Arkema Group), Henkel AG & Co. KGaA, Franklin International, Sika AG, and Huntsman Corporation. These companies are placing a strong emphasis on strategic partnerships, the introduction of new products, and effective commercialization strategies to expand their market presence. They are actively investing in research and development to bring innovative products to the market, with the goal of increasing their overall market revenue.
For instance, in June 2023, H.B. Fuller, the world's largest adhesives provider, finalized two strategic acquisitions aimed at advancing the transformation of its portfolio towards specialized applications and diversifying its Construction Adhesives (CA) business. These acquisitions are projected to contribute approximately $17 million in sales revenue and $2 million in adjusted EBITDA for fiscal year 2023. With synergies factored in, they are anticipated to generate an estimated $60 million in revenue and $15 million in adjusted EBITDA by fiscal year 2025.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
