The global construction adhesive market is expected to reach USD 14.04 billion by 2025, according to a new report by Grand View Research, Inc. Increasing utilization of these products in commercial and residential buildings has been a major driving factor for the market growth.
A broad range of diverse products and rising infrastructural and building activities in various regions are expected to surge the demand for adhesive products. Increasing developments by companies in order to reduce the cost involved in manufacturing the products are projected to spur market growth.
Construction adhesives are used in numerous green building applications such as roofing, siding, fencing, walls, pipe & fittings, doors, flooring, windows/frames, and house wrap/vapor barriers. High durability and low cost of these adhesives make them an ideal material of choice for contractors and consumers. Increasing applications in architectural design and renovation of old buildings are other factors driving their growth globally.
The global demand for acrylic adhesive in resin type segment from construction industry is growing rapidly owing to its advantages. Rapid urbanization, changing lifestyles, rising safety concerns, and healthy living environment backed by increasing disposable income in Asian countries have influenced the consumption trends of construction materials. These factors are expected to aidthe growth of the market over the forecast period.
Further key findings from the report suggest:
- The global demand for construction adhesive market was valued at USD 8.60 billion in 2016 and is anticipated to progress at a CAGR of 5.6% from 2017 to 2025
- Acrylic adhesive dominated the market in 2016, followed by polyvinyl acetate in resin type segment
- Industrial segment was the significant application segment in 2016 and is projected to follow the same growth trend over the forecast period. The segment is expected to grow at a steady CAGR over the coming years.
- Asia Pacific region is anticipated to be the fastest growing regional segment in terms of revenue over the forecast period with a CAGR of 6.1% over the forecast period
- Some of the major players in the industry include H.B. Fuller, 3M Company, Sika AG, The DOW Chemical Company, Bostik SA (An Arkema Company), Henkel AG & Co. KGaA, Dap Products, Franklin International, Illinois Tool Works Incorporation, and Avery Dennison Corporation.
Grand View Research has segmented the global construction adhesive market by resin type, technology, application, and region:
Resin Type Outlook (Volume, Thousand tons, Revenue, USD million; 2014 – 2025)
- Acrylic Adhesive
- Polyvinyl Acetate
Technology Outlook (Volume, Thousand tons, Revenue, USD million; 2014 – 2025)
- Water based
- Solvent based
- Reactive & Others
Application Outlook (Volume, Thousand tons, Revenue, USD million; 2014 – 2025)
Regional Outlook (Volume, Thousand tons, Revenue, USD million; 2014 – 2025)
- North America
- Asia Pacific
- Middle East & Africa
- Central & South America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.