Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Construction Adhesives Market, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The global construction adhesives market is expected to reach USD 15.84 billion by 2032, according to the study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Construction adhesive's expanding commercial and residential uses, as well as the increased need for adhesives in historic building renovation and architectural design, are the primary factors driving the market's growth pace. Also, increased government spending on infrastructure projects and rising demand for low-VOC, sustainable, and environmentally friendly adhesives will open up new market opportunities. Yet, the construction adhesive market cannot grow due to the fluctuation in raw material prices.
The increased usage of construction adhesives in the floors of airports, homes, and hospitals is fueling the expansion of global construction activity. Flooring uses a variety of stresses and applications for construction adhesives. Also, the increase in income levels has increased demand for interior design and architecture. The global construction adhesives market is anticipated to increase as a result of the availability of numerous designs, surface textures, and patterns for fashionable home decor such as wallpapers.
Sika AG, a top chemical company that makes adhesives for use in construction and the automotive industry, has purchased The Yokohama Rubber's adhesives business subsidiary Hematite in April 2020. The company's portfolio of sealing and bonding products for Japan's construction industry will grow as a result of this acquisition. Moreover, Sika's access to Japanese OEMs will improve as a result. Bostik, one of the main manufacturers of adhesive solutions and a division of Arkema, has agreed to purchase Ashland's Performance adhesives business in March 2021. The acquisition is intended to help the business achieve its high-performance and sustainability goals. Innovative Chemical Products purchased The Choice Adhesives in April 2021, a market leader in specialized adhesive solutions for a range of sectors (ICP Group)
There is an increasing demand for shelters as a result of increased urbanization and rising population numbers in many countries throughout the world. Residential communities are being made available to people by the governments of several countries, primarily to help the poor. Also, as modular and designer homes gain popularity, there will be a huge increase in demand for construction adhesives, which will propel market expansion. The COVID-19 pandemic-related suspension of building operations, however, is anticipated to act as a significant barrier to the expansion of the global construction adhesives market during the course of the projected year.
Report Highlights
- The acrylic construction adhesives industry led the market in 2022, accounting for the largest revenue share. Acrylic adhesives are steadily gaining popularity in the construction sector, principally because of their exceptional bonding characteristics, robust impact resistance, and high-water resistance.
- Asia-Pacific emerged as the largest regional market in 2022. Huge interests in the infrastructure area of the nation are projected to advance the utilization of development cements. China will continue to be the world's leading consumer of construction adhesives.
- The global players include, 3M, Bostik SA, DAP Products, Inc., H.B. Fuller, Henkel AG & Co. KGaA, Sika AG, Dow.
The report has been segmented by resin type, technology, application and region:
Resin Type Outlook (Revenue - USD Billion, 2019-2032)
- Acrylic
- Polyurethanes
- Polyvinyl Acetate
- Epoxy
- Others
Technology Outlook (Revenue - USD Billion, 2019-2032)
- Water-based
- Solvent-based
- Reactive & Others
Application Outlook (Revenue - USD Billion, 2019-2032)
- Residential
- Commercial
- Industrial
Regional Outlook (Revenue - USD Billion, 2019-2032)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Companies Mentioned
- 3M
- Bostik SA
- DAP Products Inc.
- H.B. Fuller
- Henkel AG & Co. KGaA
- Sika AG
- Dow.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $10.49 billion |
| Forecasted Market Value (USD) by 2032 | $16.18 billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/hfrrsx
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