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Construction Adhesives market Forecast
The increasing demand for construction adhesives in residential infrastructure, including homes, apartments, and condominiums, is a major growth driver.
WILMINGTON, DELAWARE, UNITED STATES, June 25, 2024 /EINPresswire / -- Allied Market Research recently released 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 indicates that the global construction adhesives market, which was valued at $9.6 billion in 2021, is projected to achieve $16.3 billion by 2031, reflecting a significant CAGR of 5.9% from 2022 to 2031.
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Key Growth Drivers of the Construction Adhesives Market:
Residential Infrastructure Demand: The increasing demand for construction adhesives in residential infrastructure, including homes, apartments, and condominiums, is a major growth driver. Adhesives are used for various tasks such as flooring, tiling, and insulation.
VOC Regulations: Stricter regulations regarding VOC (Volatile Organic Compounds) in solvent-based adhesives are slowing down market growth. However, this is prompting manufacturers to develop VOC-free and low-VOC adhesives, opening new growth opportunities.
Innovative Adhesive Applications: Builders are exploring creative and advanced methods to integrate adhesive materials into projects, enhancing the market's potential.
Application Insights:
Residential Sector: Dominated in 2021 with nearly 40% market share and expected to continue leading through 2031. Adhesives in residential settings provide enhanced bonding capabilities for a variety of tasks.
Commercial Sector: Anticipated to grow at the highest CAGR of 6.2% over the forecast period. Construction adhesives are crucial in commercial roofing for bonding materials like shingles and tiles, ensuring durable and weather-resistant roofing solutions.
Resin Type Insights:
Acrylic Adhesives: Held the highest revenue share in 2021, about 40% of the market. Known for their fast-curing time and strong bonding properties across various surfaces.
Polyurethanes: Expected to exhibit the fastest growth at a CAGR of 6.4%. They are popular in commercial and industrial applications for creating high-performance, durable, and aesthetically pleasing products.
Technology Insights:
Water-based Adhesives: Accounted for over 40% of the market in 2021 and are expected to remain dominant due to their low VOC content, ease of use, and low odor.
Solvent-based Adhesives: Predicted to grow at the fastest CAGR of 6.2%. They are utilized to modify concrete characteristics, aiding in achieving desired workability and facilitating long-distance transportation.
Regional Insights:
Asia-Pacific: Led the market with nearly 40% of global revenue in 2021 and is forecasted to maintain its leading position. The region is also expected to grow at the highest CAGR of 6.1% through 2031, driven by the widespread use of acrylic and latex water-borne adhesives in construction.
Major Market Players:
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- BASF SE
- Permabond LLC
- ARDEX AMERICAS
- 3M
- Sika AG
- MAPEI S.p.A.
- DAP Global Inc.
- Huntsman International LLC
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About Us
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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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