WILMINGTON, Del. , Dec. 13, 2023 /PRNewswire/ -- The global construction adhesives revenue reached US$ 10.9 billion in 2022. A CAGR of 5.2% is forecast from 2023 to 2031, resulting in a total of US$ 17.3 billion in 2031. Sustainable and eco-friendly building practices will likely continue to be emphasized. A rise in demand is expected for construction adhesives that have low VOC levels, are recyclable, and comply with green building standards.
Government investments in infrastructure can significantly fuel construction adhesive demand. Various bonding solutions are used in large infrastructure projects. Factors such as housing demand, mortgage rates, and economic conditions will likely impact the market for construction adhesives within the residential construction sector. The demand for adhesives is also influenced by renovation and remodeling activities. Power Super Adhesive Glue
Product, Formulation Technology, Application, End-use
Global Construction Adhesives Market: Key Players
Several global and regional manufacturers compete in the global construction adhesives market. In addition to technological innovation, expanding distribution networks, and establishing a strong brand, prominent players employ several key strategies.
Construction adhesives market leaders are focusing on technology innovation, partnerships, collaborations, and mergers and acquisitions to expand their global presence.
Henkel AG & Company KGaA
Key Findings of the Market Report
The demand for construction glue is primarily driven by infrastructure development in both developed and developing countries.
An analysis of the construction adhesives market found that Asia Pacific captured a large market share.
In the Middle East & Africa , construction adhesive market manufacturers are expected to experience high demand as a result of public infrastructure investments.
Construction adhesives are expected to be dominated by structural applications in the market.
Global Construction Adhesives Market: Growth Drivers
Green building practices are increasingly being emphasized as environmental sustainability becomes more visible. Energy efficiency is improved by using low-VOC and environmentally friendly adhesives in construction. Lightweight building materials are on the rise, including composites and advanced polymers. It is becoming increasingly important to find adhesives that bind these materials efficiently and remain structurally sound at the same time.
The environmental impact of construction materials influences the decision to use construction adhesives. Regulatory compliance and environmental considerations are important factors in choosing adhesives on the market. In addition to rising consumer spending, rising disposable income is contributing to the growth of the construction industry. Various construction projects, both residential and commercial, are driven by the demand for construction adhesives.
Asia-Pacific accounted for the largest market for construction adhesives in coming years. China , India , and Southeast Asia have contributed significantly to the growth of the Asian construction market. Over the next few years, demand for construction adhesives is expected to increase due to rising economies and the need for smart city constructions in developing regions. For instance, the Chinese government announced a massive construction plan, including building megacities for 250 million people.
Increasing government initiatives and government funding for construction projects are driving the demand for construction adhesives in India . For instance, in December 2021 , the Maharashtra government signed memorandums of understanding worth approximately USD 659.7 million for a variety of sectors, including agriculture, biofuel, and food processing.
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In August 2023 , Henkel, a global leader in adhesive, sealant, and functional coatings, continuously drives sustainability across markets. A new bonding and sealing portfolio has been launched in Europe to improve the company's plastics footprint. The new packaging concept reduces virgin plastic usage by up to 95%, using post-consumer recycled plastic (PCR).
In December 2023 , UPM Raflatac, a global supplier of self-adhesive paper and film products, partnered with Soprrema to recycle label waste in EMEIA. Soprema will use UPM Raflatac's RafCycle recycling service to recycle label waste into new construction and insulation materials.
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