|Status : Upcoming||Report Code : VRCH2036||Industry : Chemicals & Materials||Available Format :|
Adhesives are bonding agents which are used to join materials. Construction adhesive is chemical formulations that are used to hold materials together, ranging from households’ materials to construction materials. Some of the application of these adhesives includes carpet layment, ceramic tile, concrete, flooring underlayment, joint cements, roofing, wall covering, and others. The global construction adhesives market is experiencing significant growth in recent years, due to the rising construction activities around the world. This is attributed to the increasing population and a need to provide better infrastructure to the people, resulting in the increasing demand of these adhesives in the construction adhesives market.
Insight by Resin Type
On the basis of resin type, the construction adhesives market is segmented into acrylic adhesive, polyvinyl acetate, polyurethane, epoxy, and others. Acrylic adhesives is further classified into anaerobic acrylic adhesives, cyanoacrylates adhesives, and reactive acrylic. Polyurethane is further classified into reactive adhesives and non-reactive adhesives. Of all these, polyurethane is expected to register the highest growth in the market, which is attributed to its wide range of applications in the construction industry. Some of the advantages of using polyurethane adhesives are, it is moisture curing, provide high strength, high water resistance, extra durability, and others, making it an ideal choice in the market.
Insight by Technology
Based on technology, the construction adhesives market is segmented into water-borne, reactive, solvent-borne, and others. Water-borne technology is further classified into natural water-borne adhesive and synthetic water-borne adhesive. Reactive technology is further categorized into two types, one-component and two-component. Water-borne segment is anticipated to hold the largest share in the market, as these adhesives have improved moisture resistance as compared to other adhesives which are directly solution in water.
Insight by End-User
Based on end-user, the construction adhesives market is segmented into residential, non-residential, and infrastructure. Of all, residential category hold the largest share in the market and also anticipated to register the fastest growth in the market in the coming years. This is attributed to increasing housing need due to the increasing population, particularly in developing countries such as China, India, Brazil, and others. Hence, the increasing usage and demand of these adhesive in the housing application is driving its demand in the residential category.
The major factors driving the construction adhesives market growth are the rising construction and infrastructure activities, increasing usage of these adhesives in housing and commercial applications. The construction and infrastructure activities are increasing at a large scale in the global market in order to meet the increasing housing need of growing population, which in turn is driving the demand of these adhesives in the industry. For instance, according to Property Council of Australia, global construction costs are expected to rise by 4.3% in 2018 as compared to 4.1% increase in 2017.
Shortage of labor in construction industry, already developed infrastructure in developed countries, and stringent environment regulations in the European and North American countries are identified as major challenge in the construction adhesives market growth. The construction industry around the world is facing a severe shortage of labor in the market. The outlook of construction industry looks bright, however labor shortage could possibly affect the industry growth, further affecting the demand of these adhesives in the market.
Global manufacturers are focusing on ensuring the safety to avoid health related issues associated with volatile organic compounds emissions from the adhesives used in the construction industry, which is also effecting the production capacities of the manufacturers at the same time.
Globally, the Asia-Pacific is projected to register the highest growth in the construction adhesives market. The growth is mainly driven by the China, as the country is spending heavily on commercial and residential construction activities, which is influencing the market growth of the country. Along with that, the major players in the region are also investing on the research and development to develop more innovative, developed and advanced products to cater the market, resulting in market growth.
Some of the major players operating in the construction adhesives industry are Henkel Corporation, 3M Company, Bostik, Sika AG, H.B. Fuller, BASF SE, DowDuPont Inc., Franklin International, Avery Dennison, and Mapei SpA.