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The market for construction adhesives is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied is a rapidly growing construction industry in Asia-Pacific & the Middle East, and rising demand for panels and glazing in high-rise buildings
- Investments in Infrastructure Development are likely to act as an opportunity.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Key Market Trends
Water-borne Segment to Dominate the Market
- Water-borne adhesives use water as a carrier or a diluting medium, to disperse a resin. They are set by allowing the water to evaporate, or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent.
- They can be considered as low-VOC adhesives. Water-borne adhesives are produced from either soluble synthetic polymers (from polymers, such as cellulose ethers, polyvinyl alcohol, methylcellulose, carboxymethylcellulose, and polyvinyl pyrrolidone) or natural polymers (from vegetable sources, such as starches and dextrins; protein sources, such as blood, fish, milk albumen, and soybean; and animal sources, such as bones and hides).
- Water-borne adhesives are increasingly becoming an integral part of various end-user industries, owing to their eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties. Water-borne adhesives are used in a wide range of applications, in the automotive, construction, shoe, woodwork and furniture, mattress, and paper and packaging industries, among others.
- Even though the performance requirements of water-borne adhesives have escalated over time, the research activity has slowed down, due to technological maturity in the traditional adhesives. The industry is attempting to revive research, by focusing on process technology expertise and newer approaches, such as nanotechnology.
- Water-borne adhesives are the most widely used in the paper board and packaging sectors, followed by the construction industry. Acrylic water-borne adhesives and latex water-borne adhesives are majorly employed for different applications, in the building and construction industry.
- Acrylic water-borne adhesives are mainly used as a pressure-sensitive adhesives in the construction sector, in the form of labels and tapes, for tile bonding and laminating purposes.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific accounted for the largest market for construction adhesives, owing to huge demand from the construction market in India, China, and various countries in Southeast Asia.
- The development of 100 smart cities in countries, like India and Government projects, such as ’Housing For All’ by 2022, significant growth in the construction sector.
- Countries such as Indonesia, Singapore, Vietnam, restructuring of South Korea’s construction industry are some of the few factors driving the construction adhesives market growth in the Asia-Pacific region.
- The number of commercial offices and buildings in the region has increased since the last decade, owing to the growth of major economic & business centers and the competition among the construction players for attractive looks and sustainable & economical construction has also increased the demand for construction adhesives
- China’s construction industry developed rapidly, due to the central government’s push for investment in the construction industry, as a means to sustain economic growth.
- “Made in China 2025” was introduced by the government, the initiative is aimed at improving industry efficiency, product quality, and brand reputation. This may spur the development of domestic manufacturers and may increase competitiveness.
- The Chinese government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years, despite efforts to rebalance its economy to a more service-oriented form.
- All the aforementioned factors are likely to increase the demand for the market over the forecast period.
The construction adhesive market is consolidated. Some of the major players include Henkel AG & Co. KGaA, Arkema Group (Bostik), HB Fuller Company, Sika AG, and 3M, among others.
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