Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Construction Adhesives Market by Resin Type (Acrylic, Polyvinyl Acetate (PVA), Polyurethanes (PU), Epoxy, Others), by Technology (Water based, Reactive, Solvent based, Others), by Application (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2031". The report states that the global market for construction adhesives is anticipated to make $16.3 billion revenue by the year 2031, having garnered the share of $9.6 billion in 2021, witnessing a noteworthy CAGR of 5.9% during the forecast period of 2022 to 2031.
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Factors determining the growth of the global construction adhesives market:
The global construction adhesives market is expanding rapidly due to rising demand for construction adhesives in residential infrastructure and housing. Furthermore, strict norms regarding the presence of VOC (Volatile Organic Compound) insolvent-based construction adhesives restrain the market growth to some extent. Nevertheless, builders are developing imaginative and advanced methods to implement adhesives materials into their project and manufacturers are investing in the development of VOC-free and low-VOC adhesives, which is estimated to offer remunerative growth opportunities to the market in the future.
The residential segment to grab the lion’s share by 2031
On the basis of application, the residential segment grabbed the major share of around two-fifths of the global construction adhesives market in 2021 and is projected to rule the roost throughout the forecast timeframe. In residential settings, construction adhesives play a crucial role in homes, apartments, condominiums, and interior spaces, offering enhanced bonding capabilities. These adhesives are versatile and find application in a wide range of residential construction tasks, including laying flooring, installing tiles, mounting wall art, and affixing exterior insulation materials.
Furthermore, the commercial segment would cite the highest growth with 6.2% during the forecast period. In commercial roofing applications, construction adhesives are a widely adopted solution. They are utilized in bonding roofing materials such as shingles and tiles, contributing to the construction of a durable and weather-resistant roof. These adhesives have the capability to securely bond a diverse range of materials, including plastic, wood, and metal.
The acrylic segment to retain its dominance in terms of revenue throughout the forecast timeframe
In terms of resin type, the acrylic segment contributed to the highest market revenue of nearly two-fifths of the global construction adhesives market in 2021 and is expected to lead the trail from 2022 to 2031. Acrylic adhesives are highly adaptable and widely utilized in a set of commercial and industrial applications owing to their fast-curing time, ability to bond to different surfaces, and strong bonding properties. The polyurethanes segment, on the other hand, would showcase the fastest growth with 6.4% during the forecast period of 2022 to 2031. Polyurethanes are utilized in commercial and building to design high-performance products that are lightweight, durable & versatile, strong, and perform well. Polyurethane products may also aid to enhance the aesthetics of buildings and homes.
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The water-based segment to continue its supremacy throughout the forecast timeframe
By technology, the water-based segment generated the major share of more than two-fifths of the global construction adhesives market in 2021 and is anticipated to maintain its dominant status from 2022 to 2031. The growth is attributed to the wide usage of water –based construction adhesives in the construction sector due to their low VOC content, ease of use, and low odor. The solvent-based segment, however, is estimated to display the fastest growth with 6.2% CAGR during the forecast period. Solvent-based adhesives are utilized to alter the characteristics of concrete with low water-cement ratios, enabling the attainment of the desired workability, facilitating the long-distance transportation of concrete, and extending the duration of open time during construction processes.
Asia-Pacific to retain its lead in terms of revenue by 2031
Based on regional analysis, the market across the Asia-Pacific was largest accounted for the highest revenue of nearly two-fifths of the global construction market in 2021 and is anticipated to maintain its lead position during the forecast period. The same region is expected to witness the fastest growth with 6.1% CAGR by 2031. In the Asia-Pacific region, acrylic water-borne adhesives and latex water-borne adhesives hold significant importance in the building and construction sectors. Acrylic water-borne adhesives are primarily employed in construction for their use as pressure-sensitive adhesives, commonly found in the form of labels and tapes, particularly for tasks like tile bonding and laminating.
Top market players in the global construction adhesives market:
- H.B. Fuller Company
- KGaA,
- Henkel AG & Co.
- BASF SE,
- Permabond LLC.,
- ARDEX AMERICAS,
- 3M,
- Sika AG,
- MAPEI S.p.A.,
- DAP Global Inc.,
- Huntsman International LLC,
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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