Construction adhesives have helped to supplant traditional adhesives that include contact cements, wood glues, and traditional physical fixings, namely screws and nails. Construction adhesives find application in construction, renovation, and in adding finishing touches to homes. They steal a march over traditional adhesives with their ability to dry up within 24 hours, waterproof nature, and flexibility even after drying. On account of their unique perceived benefits, they witness a wide use in the construction industry.
Based on product, construction adhesives can be divided into solvent borne, water borne, reactive, and others. They are usually available in squeeze tubes, cans, and caulking tubes. There are two ways in which construction adhesives are applied – in beads or in full coverage. In beads, for example, lines of adhesive are put on the surface with a caulking gun. This is a very cost-effective method and is typically employed in attaching large, flat materials to large, flat surfaces such as attaching drywall to studs, wood paneling to any smooth wall, etc.
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For gluing small materials, namely floor tiles and ceramic tiles, or where a complete solid surface is needed, which includes almost all flooring applications with exception to carpet over padding and some varieties of vinyl flooring, full coverage is leveraged. Zeroing in on the appropriate construction adhesives is crucial for successful application as construction adhesives.
The global market for construction adhesives is fragmented with numerous players competing with each other for higher market share. Most players are now targeting the underpenetrated emerging economies that hold out strong growth potential. The Transparency Market Research report studies the market from different angles to present a comprehensive overview of it, including its growth prospects.
Global Construction Adhesive Market: Drivers and Trends
Supercharged growth in construction activities and infrastructure building on account of the rapid pace of urbanization worldwide has majorly contributed to the global market for construction adhesive. The growing adoption of construction adhesives for commercial as well as housing applications is likely to boost their uptake in the forecast period between 2016 and 2024. This, coupled with their affordable prices and ease of use, will augment the demand even more. In the years to come, with superior production techniques due to technological progress, the market would continue to tread on a steady growth path.
A major factor acting as a roadblock to the growth in the global market for construction adhesive is the unstable prices of raw materials. A recent noticeable trend in the market is the rising use of bio-based, eco-friendly construction adhesives on account of the increasing concerns about the environment among discerning consumers and strict policies framed by agencies such as the European Union and United States Environmental Protection Agency.
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Global Construction Adhesive Market: Geographical Outlook
Geographically, the global construction adhesive market can be segmented into Asia Pacific, North America, Latin America, Eastern Europe, Western Europe, and the Middle East and Africa. Among them, Asia Pacific, powered by India and China, holds a dominant share in the market because of the rising spend on commercial and residential construction and massive infrastructure building in the region. This in turn is brought about by the robust economic growth in the region. The demand for bio-based adhesives is also fueling an uptick in the demand in Asia Pacific. This upswing in the Asia Pacific market is predicted to continue in the coming years as well.
Other developing economies, namely Brazil, South Africa, Saudi Arabia, Israel, Egypt, and Argentina, among others, also hold out a lot of promise in terms of growth due to the ever increasing construction activities in the nations. North America trails Asia Pacific in the global market for construction adhesive. The market in North America has been primarily bolstered by the robust demand from the U.S. Europe follows North America and is predicted to exhibit a lackluster growth in the coming years owing to the market being saturated already.
Key Players Mentioned in the Report
To present a thorough assessment of the competition prevailing in the global market for construction adhesive, the TMR report profiles companies such as Henkel AG & Co., Sika AG, 3M Company, the Dow Chemical Company, and H.B. Fuller among others. The report outlines their key product offerings, sales, revenues, and market shares.