Construction Adhesives Market Size: Industry Analysis And Opportunity Assessment 2023-2033

(MENAFN- America News Hour)

The market for construction adhesives market size was estimated at USD 7.5 billion and the market is expected to grow at a CAGR of more than 6% during the forecast period
The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in the construction industry, which is likely to affect the demand for construction adhesives and sealants. According to the Associated General Contractors of America (AGC), there may be disruptions to work or cancelled projects, and the demand may be potentially less for“non-essential” projects, like offices, entertainment, and sports facilities. Due to the shutdown of such projects and other construction activites, the demand of construction adhesives tends to constrain.

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– In short term, on of the major factors driving the market studied is increase in housing and construction projects in emerging countries. For instance, Singapore witnessed a positive growth in 2019, and the investments into the construction sector are expected to increase over the next few years. In 2020, the total construction demand, which is the value of construction contracts to be awarded, is likely to range between ~USD 28 billion and ~USD 33 billion. Such increase in the construction contracts is majorly due to the allocation of various public sector building projects, such as public housing, private sector projects, etc.
– The rapid growth in construction sector of various emerging economics such as South Korea, Brazil, Indonesia, Argentina, South Africa, Mexico, Poland, Turkey, Egypt, Iran, and Nigeria, where the growth of projects is expected to be significantly high in construction graph, leads the demand of construction adhesives.
– However, stringent environmental regulations related to emission is likely to restrain the growth of the market.
– Increasing demand for bio-based and hybrid adhesives in the construction sector are estimated to create opportunities for the market in the future.
– Asia-Pacific dominated is witnessing the highest growth rate, during the forecast period.
Key Market Trends
Residential Segment to Dominate the Market

– In residential construction, adhesives have several application areas like carpet laying, laminating countertops, installing flooring, wallpapering, etc. The usage of adhesives can reduce the usage of screws and help in weatherproofing the house.
– The residential construction across the globe has been witnessing significant growth over the past few years owing to factors like population growth, migration from rural areas to service sector clusters, and the growing trend of nuclear family among others. Besides, decreasing land to population ratio and the growing trend of constructing high-rise residential buildings and townships have been driving the application of adhesives and sealants in the residential construction segment across the globe.
– In the recent past, the highest growth rate, regarding residential construction was expected to be registered in the Asia-Pacific region, owing to the expanding housing construction market in China and India. Asia-Pacific has the largest low-cost housing construction segment, led by China, India, and various Southeast Asian countries. However, with most of the Asia-Pacific countries being severely affected by COVID-19 on a large scale, the growth is expected to notably slower down in the short run.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific accounted for the largest market for construction adhesives, owing to huge demand from the construction market in India, China, and various countries in Southeast Asia.
– The development of 100 smart cities in countries, like India and Government projects, such as 'Housing For All' by 2022, significant growth in the construction sector.

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– Countries such as Indonesia, Singapore, Vietnam, restructuring of South Korea's construction industry are some of the few factors driving the construction adhesives market growth in the Asia-Pacific region.
– The number of commercial offices and buildings in the region has increased since the last decade, owing to the growth of major economic & business centers and the competition among the construction players for attractive looks and sustainable & economical construction has also increased the demand for construction adhesives
– China's construction industry developed rapidly, due to the central government's push for investment in the construction industry, as a means to sustain economic growth.
–“Made in China 2025” was introduced by the government, the initiative is aimed at improving industry efficiency, product quality, and brand reputation. This may spur the development of domestic manufacturers and may increase competitiveness.
Competitive Landscape
The construction adhesive market is consolidated. Some of the major players include Henkel AG & Company KGaA, Dow, H.B. Fuller, Arkema Group, and 3M, among others.

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Investments in Construction Industry
4.1.2 Increase in Housing and Construction Projects in Emerging Countries
4.2 Restraints
4.2.1 Stringent Environmental Regulations
4.2.2 Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

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construction adhesives market

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