Construction adhesives has excellent bonding strength, chemical resistance, temperature resistance, and weather resistant properties. These adhesives are frequently used to either bond or repair various surfaces in the construction site. Construction adhesives are part of construction chemicals group mixed with construction materials to improve the performance, workability, and strength of construction materials.
The global construction adhesives market accounted value is US$ 8.8 Bn in 2017 and is projected to register a CAGR of 5.5% in terms of value during the forecast period 2017–2026.
Construction adhesive products are used for waterproofing, roofing, flooring & insulation, reinforcement, and cladding. The construction industry observed numerous technological advancement and increase in unique architectural ideas promotes the usage of adhesives in residential and industrial buildings.
Increasing construction activities on account of the rapid stepping of urbanization worldwide have majorly contributed to a global market for construction adhesive. The increasing adoption of construction adhesives for residential as well as commercial applications is likely to increase demand in the forecast period. Along with advantages such as ease of use and affordable prices, will grow the demand in future. With superior production techniques due to technological progress, these market would remain to tread a steady growth path.
Increasing applications in flooring, roofing, windows, exterior walls & doors of commercial & residential projects are anticipated to fuel market growth. Increasing awareness regarding the interior temperature control in innovative design and several materials used for exterior surfaces and various other compounds is expected to be a key driving factor. These enclosures include all commercial, institutional, multifamily, and industrial situations, protecting structures from rain, ensuring airflow, and addressing significant moisture issues.
The global construction adhesives market report has been segmented on the basis of type, application and region. On the basis of region, the global construction adhesives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The acrylic segment in the global construction adhesives market accounted for majority revenue of US$ 3,071.9.5 Mn in 2017. The residential segment in the global construction adhesives market has been accounted for revenue share of 38.4% in 2017. On the basis technology segments, water-based segment in the global construction adhesives market is estimated to register a CAGR of over 5% over the forecast period. The polyvinyl acetate segment in the global construction adhesives market is expected to account for revenue share of over 22%, owing to its high flexibility and excellent strength
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Among all the regions, the Asia Pacific market, powered by China and India markets, holds a dominant market share because of the increased spending on residential and commercial construction and massive infrastructure construction activities in countries in the region. The need of bio-based construction adhesives is also increasing the trade in the Asia Pacific region. This growth in the Asia Pacific region is predicted to remain same in the coming years as well.
Asia Pacific market has been projected to account for revenue of US$ 3,172.5 Mn in 2017, and is expected to register a lucrative CAGR during the forecast period
Key players operational in the global market include H.B. Fuller, 3M Company, Sika AG, The DOW Chemical Company, Bostik SA (Arkema Group), Henkel AG & Company, KGaA, Dap Products, Inc., Franklin International, Inc., Illinois Tool Works Incorporation, and Avery Dennison Corporation