Key factors contributing to the growth of the construction adhesives market include increasing demand in residential infrastructure and housing projects.
WILMINGTON, DELAWARE, UNITED STATES, March 25, 2024 /EINPresswire.com/ — Allied Market Research recently released a comprehensive report titled “Construction Adhesives Market by Resin Type, Technology, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2031.” According to the report, the global construction adhesives market is projected to achieve a revenue of $16.3 billion by 2031, with a notable CAGR of 5.9% from 2022 to 2031. In 2021, the market garnered $9.6 billion.
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Key factors contributing to the growth of the construction adhesives market include increasing demand in residential infrastructure and housing projects. Despite this growth, stringent regulations regarding volatile organic compounds (VOCs) in solvent-based adhesives have somewhat hindered market expansion. However, manufacturers are focusing on developing low-VOC and VOC-free adhesives, presenting lucrative growth opportunities for the market.
Residential construction is expected to dominate the market by 2031, with the segment accounting for a significant share in 2021 and continuing to lead during the forecast period. Construction adhesives play a vital role in various residential applications, such as flooring installation, tile fixing, and exterior insulation material affixing.
Additionally, the commercial segment is forecasted to witness substantial growth, particularly in commercial roofing applications, where adhesives are used for bonding roofing materials like shingles and tiles.
In terms of resin type, acrylic adhesives are projected to maintain their dominance throughout the forecast period, owing to their versatility and strong bonding properties. However, the polyurethanes segment is expected to exhibit the fastest growth due to their lightweight, durable, and versatile characteristics.
Water-based adhesives are anticipated to remain the preferred choice among construction professionals due to their low VOC content, ease of use, and minimal odor. Meanwhile, solvent-based adhesives are expected to experience significant growth, attributed to their ability to alter concrete characteristics and extend open time during construction processes.
Geographically, the Asia-Pacific region is set to retain its lead in terms of revenue by 2031, with significant growth anticipated during the forecast period. Acrylic water-borne adhesives are extensively used in the construction sector in this region, particularly for tasks like tile bonding and laminating.
Key players in the global construction adhesives market include H.B. Fuller Company, Henkel AG & Co. KGaA, BASF SE, Permabond LLC, ARDEX AMERICAS, 3M, Sika AG, MAPEI S.p.A., DAP Global Inc., and Huntsman International LLC. These players are implementing various strategies to maintain their market position and capitalize on emerging opportunities.
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