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Construction Adhesives industry Forecast
The construction adhesives market is experiencing significant growth due to the increasing demand for adhesives in residential infrastructure projects.
WILMINGTON, DE, UNITED STATES, September 15, 2024 /EINPresswire / -- 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." According to the report, the global construction adhesives market is projected to generate $16.3 billion in revenue by 2031, up from $9.6 billion in 2021, with a CAGR of 5.9% during the forecast period (2022–2031).
Key Factors Driving Market Growth:
The construction adhesives market is experiencing significant growth due to the increasing demand for adhesives in residential infrastructure projects. However, the presence of volatile organic compounds (VOCs) in solvent-based adhesives is a key challenge, limiting the market's expansion. Despite this, ongoing innovations in VOC-free and low-VOC adhesives are expected to offer substantial growth opportunities.
Segment Insights:
- Residential Sector: The residential segment held around 40% of the market share in 2021 and is expected to maintain dominance through 2031. Adhesives play a crucial role in residential construction tasks such as flooring, tile installation, and exterior insulation.
- Commercial Sector: The commercial segment is forecast to grow at the highest CAGR of 6.2%, with adhesives becoming increasingly popular for roofing applications.
- Acrylic Adhesives: In terms of resin type, the acrylic segment accounted for the largest revenue share (40%) in 2021 and is projected to retain its leadership. Acrylic adhesives are highly versatile, offering fast curing and strong bonding. The polyurethanes segment is expected to grow at the highest rate (6.4%), driven by demand for durable and versatile construction solutions.
Technological Advancements:
- Water-Based Adhesives: The water-based segment dominated the market with a 40% share in 2021, due to its low VOC content and easy application. Solvent-based adhesives, with a projected CAGR of 6.2%, are valued for their ability to alter concrete characteristics and improve construction efficiency.
Regional Analysis:
The Asia-Pacific region led the global construction adhesives market, contributing nearly 40% of the total revenue in 2021. It is expected to witness the fastest growth, with a CAGR of 6.1%, driven by the extensive use of water-borne adhesives in construction applications like tile bonding and laminating.
Key Players:
Leading companies in the global construction adhesives market include H.B. Fuller Company, Henkel AG & Co., BASF SE, 3M, Sika AG, Huntsman International LLC, and MAPEI S.p.A.
Obtain Report Details:
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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