ID: MRFR/CnM/1427-HCR | 117 Pages | Published By Anshula Mandaokar on March 2023
Adhesives are chemical substances which are used to unify two separate surfaces into a single entity which does not separate easily. Adhesives such as glue, mucilage, paste, and cement involve high tensile and shear strength, which is used for various holding and bonding functions. Sealants consist of adhesive properties which are used for sealing, filling, and waterproofing of gaps between two surfaces. Sealants as compared to adhesives provide resistance to movement of substrates, thereby providing better flexibility between the surfaces.
Furthermore, high shear and tensile strength of adhesives and sealants act as a major application in the construction industry. Construction adhesives and sealants are majorly used in tapes & labels, roof & floors, and insulation materials, among others. Owing to these factors, the construction adhesives, and sealants market is expected to propel during the forecast period.
According to the Market Research Future (MRFR) analysis, the global construction adhesive and sealant market is estimated to cross USD 14.5 billion by the end of 2030and register a CAGR of over 7.50%. The growth of the global market for construction adhesive and sealants is projected to be primarily driven by their increasing demand in ceramic tile, pre-finished panels, roofing, wall covering, concrete, pipe cement, flooring underlayment, countertop lamination, drywall lamination, HVAC, and other applications. Furthermore, the development of high-performance adhesives and sealants such as eco-friendly sealants along with adhesives and sealants by UV cure are some the major developments which are expected to boost the market. These high-performance adhesives and sealants help to cut waste, cost, processing time, and application time.
Adhesive and sealants incur adverse environmental impact, for instance, a silver epoxy-based electronic conductive adhesive (ECA) emits carbon dioxide and other carbon footprints. However, due to strict government regulations on VOC emission, various end-use industries are opting for organic based solvents. For instance, SIKA AG introduced its new-generation adhesive SikaBond AT-75 used for wood floor bonding collating with the EHS regulation. The bio-based products for sealants and adhesives such as vegetable-based polyamides, soybean-derived polyols, polyisoprenes, and epoxies are substituting the use of synthetic materials and while reducing carbon footprint. Water-based adhesives and silicone-based sealants are expected to have a significant share in the market. The prices of raw materials such as synthetic fibers, crude oil, and resins are likely to hamper the growth of the global construction adhesives and sealants market during the forecast period.
The global construction adhesive and sealants market has been segmented into Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Based on market value share, Asia-Pacific is estimated to hold more than one-third of the global market share and is expected to continue the dominance throughout the forecast period due to the rapid increase in the growth of construction industry coupled with the development of complex modern infrastructure across the region. The increasing growth of the construction industry in the developing economies of Asia-Pacific such as India and other Southeast Asian countries is expected to propel the growth for construction adhesives and sealants market during the forecast period. According to the India Brand Equity Foundation (IBEF), Government of India, the construction industry of India is anticipated to grow at a CAGR of 10.5% and is expected to reach over USD 215 billion by 2020.
Furthermore, investments by various financial institution and other government agencies are expected to boost the market in the region. For instance, according to the IBEF, Asian Infrastructure Investment Bank (AIIB), in 2018, had announced an investment of USD 200 million to the National Investment & Infrastructure Fund (NIIF). The infrastructure sector of the Indian government further allocated over USD 63.2 billion in the construction & building segment. The Building and Construction Authority (BCA) of Singapore, in 2018, announced the growth of USD 23.48 billion by the end of 2019. The construction adhesive and sealant market is expected to propel during the forecast period owing to these factors. In the Middle Eastern countries, the growth of the construction industry is expected to capture the highest CAGR during the forecast period. This is due to investments in increasing smart city projects, government initiatives towards the provision of residence to lower- and middle-class population coupled with the enhancement of the transport facilities to are expected to boost the market share of the region during the forecast period.
The global construction adhesive and sealant market has been segmented based on product type, application, and region.
On the basis of product type, the global construction adhesive and sealant market has been categorized as emulsions & dispersions, hot melt, polyurethane, natural adhesives & sealants, epoxy, others.
By technology, the global construction adhesive and sealant market has been divided into reactive, waterborne, solvent-borne, and others.
By end use, the global construction adhesive and sealant market has been divided into waterproofing, insulation, pressure sensitive tapes & labels, walls & panels, roof & floors, and others.
Arkema SA (France), Wacker Chemie AG (Germany), Royal Adhesives & Sealants (US), PPG Industries, Inc. (the US), MAPEI SpA (Italy), Huntsman International LLC (US), Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), Solvay (Belgium), Berry Global Inc. (US), BASF SE (Germany), Avery Dennison Corporation (US), Ashland (US), DAP Products Inc. (US).
|Market Size||USD 14.5 billion|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Technology, End Use and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Arkema SA (France), Wacker Chemie AG (Germany), Royal Adhesives & Sealants (US), PPG Industries, Inc. (the US), MAPEI SpA (Italy), Huntsman International LLC (US), Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), Solvay (Belgium), Berry Global Inc. (US), BASF SE (Germany), Avery Dennison Corporation (US), Ashland (US), DAP Products Inc. (US)|
|Key Market Opportunities||Development of high-performance adhesives and sealants such as eco-friendly sealants.|
|Key Market Drivers||Increasing demand in ceramic tile, pre-finished panels, roofing, wall covering, concrete, pipe cement, flooring underlayment, countertop lamination, drywall lamination, HVAC, and other application|
The construction adhesive and sealant market is projected to grow at a 7.50% CAGR between 2022-2030.
The construction adhesive and sealant market predicted to touch USD 14.5 billion by 2030.
The Asia Pacific is expected to lead the construction adhesive and sealant market.
Increasing use in the construction industry and availability of eco-friendly sealants are boosting market growth.
Volatile price of raw materials may limit market growth.