As per the study undertaken by Market Research Future (MRFR), the Global Construction Adhesives and Sealant Market is expected to attain an approximate CAGR of 6% during the forecast period. Add to that, the market valuation is anticipated to cross USD 12 billion by the end of 2022.
The Construction Adhesive and Sealant Market growth is significantly penetrating the housing, commercial, and infrastructural applications. The end product characteristics for different applications are distinctive to one another in accordance to the requirement of the end-user industries. The key factors influencing its market growth are increasing demand in ceramic tile, roofing, pre-finished panels, concrete, countertop lamination, flooring underlayment, wall covering, pipe cements, HVAC, drywall lamination, and other applications. The market is further expanded through the aid of various leading global companies.
The Global Construction Adhesives and Sealant Market is segmented in terms of three Key Dynamics, namely Type, End-Use and Technology.
By Type, the market includes epoxy, polyvinyl acetate, acrylic, and polyurethane.
By Technology, the market comprises of waterborne, reactive, and solvent borne technologies.
By End-Use, the market includes roof & floors, insulation, waterproofing, and walls & panels.
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The Global Regional Segmentation of the Construction Adhesive and Sealant Market covers the following regions: Asia Pacific, Europe, North America, and Rest of the World (RoW).
The Asia Pacific region holds the dominant position the global market and is anticipated to maintain its dominance during the forecast period. Factors like increasing investment in construction and infrastructure development to aid the economic development and fast-paced population growth further accelerates the market in this region. Additionally, other factors influencing a positive growth of the Asia Pacific market include the high rate of demand for these adhesive and sealants from the booming construction industry of various developing nations. Additionally, the increasing production and development from new market players that are investing in developing new applications and products for adhesives and sealants are projected to aid the market in the region. This thereby allows the regional market to witness huge gains during the assessment period of 2017 to 2022.
The North American region holds the second largest market globally for Construction Adhesive and Sealants. The region is expected to garner massive demand and growth over the forecast period. The proliferation of the market due to robust industrialization and high rate of government investments is expected to help the region attain substantial revenues in the forthcoming years.
The European regional market is positioned as one of the most promising areas, wherein the market is expected to exhibit significant CAGR during the upcoming years of the forecast period. The ameliorating construction industry herein is anticipated to create a plethora of growth opportunities for the market.
The Global Construction Adhesive and Sealant Market comprises a number of key players, including Franklin International, DAP Products Inc., Bostik SA Henkel A&G, Henkel A&G, 3M Company, ITW Polymers Sealants North America, The Dow Chemical Company, Sika AG, H.B. Fuller, Avery Dennision Corporation, and others. The proliferation of the sector and the continuous approach of edging past the competition is providing emerging players the opportunity to enter and strive in the global market for Construction Adhesives and sealants.
Jan 24th, 2019, Chemicque Adhesives, one of the global pioneers in manufacturing and supplying of high-performance adhesives and premium bonding solutions for industries like construction and others announced the introduction of a new single-component, fast paced curing polyurethane sealing and bonding compound named Bondseal 1128. The Bondseal 1128 is considered as an ideal compound for construction, modular construction, and for numerous other industries wherein both movement and vibration are of massive concern.
Mar 17th, 2019, Researchers from the Georgia Institute of Technology revealed that they are considering the bee spit as a model for creating bio-inspired adhesive owing to its adhesive-like properties and capability of remaining sticky through various situations and conditions.
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