NEW YORK, May 24, 2022 /PRNewswire/ -- According to the market research and consulting firm P&S Intelligence, by 2030, the construction adhesives market is set to reach $14,541.9 million from $9,101.5 million in 2021, propelling at a 5.3% CAGR from 2021 to 2030. Due to the massive infrastructure funding, countries such as India, China, and the U.S. are the key contributors to the global GDP. The growing infrastructure investments will increase the global GDP by 0.5% in the near future.
The acrylic category generated around $3,862.3 million revenue in 2021, and it will grow at a significant rate. This will be because of the expansion of the construction industry in the MEA and APAC regions, where acrylic adhesives are popular owing to their high water resistance, strength, and strong bonding.
Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/construction-adhesives-market/report-sample
Key Findings of Construction Adhesives Market Report
- The North American construction adhesives market is predicted to have the second-highest CAGR in the coming years, due to the increasing usage of these adhesives in insulation, roofing, and cladding applications.
- In sustainable projects, the majority of builders choose OSBs over plywood for walls and floors. OSBs are less expensive and can be easily fixed with polyurethane and wax adhesives, without bolts or cement.
- The market for polyurethane adhesives is predicted to be the second fastest-growing, due to their ability to bind almost any kind of substrate, including wood, plastic, concrete, and glass.
- The residential category holds over 60% revenue share in the construction adhesives market, because of the government initiatives worldwide to boost residential construction.
- Water-based adhesives are predicted to grow at a CAGR of 5.7% during the forecast period. This is due to the higher moisture resistance offered by these adhesives compared to other options.
- There are numerous airport expansion projects underway in China, including Chengdu Shuangliu International Airport and Beijing Capital International Airport. Moreover, the government of China has announced the relocation of 250 million people to new megacities.
To gain a substantial position in the market, companies have been active in product launches and mergers. For example, Toyochem Co. Ltd. introduced the Oribain EXK 21-046 acrylic pressure-sensitive adhesive for use in building interiors in March 2022. PPG Industries Inc., Huntsman Corporation, Dow Inc., Sika Services AG, DAP Products Inc., Bostik SA, 3M, Henkel AG & Co. KGaA, and H.B. Fuller Company are other key companies in the industry.
Browse detailed report on Global Construction Adhesives Market Trends, Business Strategies, Regional Outlook and Analysis Through 2030
In 2021, the APAC construction adhesives market accounted for 45% of the global revenue. This is primarily due to the rising disposable income, increasing construction activity, and growing economy. Furthermore, the growing demand for low-VOC adhesives and rising government infrastructure funding are driving the market. China, for example, plans to invest over $13 trillion in the construction sector by 2030.
Construction Adhesives Market Segmentation Analysis
By Type
- Acrylic
- Polyurethane
- Polyvinyl acetate
- Epoxy
- Others
By Application
- Residential
- Non-Residential
By Technology
- Water-based
- Solvent-based
- Hot-melt
- Reactive
Regional Outlook
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- South Africa
- Saudi Arabia
- U.A.E
Browse More Related Reports
Global Low VOC Adhesives Market Growth Forecast Report, 2030
Global Pressure Sensitive Adhesives Market Growth Forecast Report, 2030
Global Water-Based Adhesive Specialty Tapes Market Growth Forecast Report, 2030
About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg
