According to the report published by The Brainy Insights, the global construction adhesive market is expected to grow from USD 9.61 billion in 2021 to USD 15.16 billion by 2030, at a CAGR of 5.2% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global construction adhesive market, with a 33.5% share of the market revenue in 2021. The Asia Pacific currently dominates the construction adhesive market. The Indian government is prepared to build a six-lane road to link small towns with metro cities. Further, the Indian government has planned to build two crore residential properties under Pradhan Mantri Awas Yojana. The project will furnish a home to the urban poor at reasonable rates, and it will directly impact the market growth of the construction adhesive market.
Construction Adhesives Market Size by Technology (Solvent-borne Technology, Reactive Technology, Waterborne Technology, & Others), Resin Type (Polyvinyl Acetate (PVA), Polyurethane (PU), Epoxy, Acrylic Adhesive, & Others), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
Leading companies in the industry include 3M Company, 5M, Ardex, Chang Chun Group, DowDuPont, Epotek, Foshan Xinboqiao Electronic Co.Ltd., Henkel, Jiangxi Tengde Industrial Co. Ltd, MAPEI, Masterbond, MG Chemicals, Nan Ya Plastics Corporation, Permabond, Powerblanket, Shenzhen Meitaibang Chemical Co. Ltd., Shenzhen Tianmaxun Technology Co.Ltd., Shenzhen Zhengdasheng Chemical Co. Ltd, The Gorilla Glue Company, among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The technology segment of the construction adhesive market is divided into solvent-borne technology, reactive technology, waterborne technology, & others. The waterborne segment dominated the market, with a market share of around 27% in 2021. The resin type segment is divided into polyvinyl acetate (PVA), polyurethane (PU), epoxy, acrylic adhesive, & others. The polyurethane (PU) segment dominated the market, with a market share of around 25% in 2021. The end-user segment is divided into infrastructure, residential, & non-residential. The residential segment dominated the market, with a market share of around 32% in 2021.
The construction industry has been poorly impacted globally, as most of the construction activities were on standby with the pandemic’s beginning. Similarly, many orders for construction materials, including adhesives, were withdrawn due to the suspended activities. For example, India’s sales of residential projects declined to 35% in the previous year. Again, the supply chain of construction adhesives was also affected. Due to trade and transport limitations between countries, companies encountered problems procuring raw materials like glue and other chemicals from other players.
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