Construction Adhesives Market - Industry Analysis, Market - Forecast(2024 - 2030)

Report Code: CMR 96259 Report Format: PDF + Excel

Construction Adhesive Market Overview

Construction Adhesive Market size is forecast to reach $16.9 billion by 2030, after growing at a CAGR of 5.6% during 2024-2030. A rapidly rising construction industry in the Asia-Pacific & Middle East, and increasing demand for panels and glazing in high-rise buildings are major factors driving the market. The growth of the global construction adhesive market could be fostered by growing demand for construction adhesives worldwide due to increasing construction and infrastructure activities. In addition, their low cost and easy availability are driving global market growth. In the next few years, improved properties combined with better manufacturing methods coupled with technological developments are expected to open up new growth opportunities. However, unstable material prices are the main constraints on global market growth.

With growing awareness of climate change and environmental impact, construction industries worldwide are embracing eco-conscious practices. Manufacturers are responding by developing adhesives with reduced volatile organic compound (VOC) emissions and using renewable or recycled materials in their formulations. Sustainable construction adhesives not only meet stringent environmental regulations but also appeal to environmentally conscious builders and developers. Another notable trend in the Construction Adhesive Market is the increasing demand for high-performance specialty adhesives. As construction projects become more complex and diverse, there is a growing need for adhesives that can cater to specific requirements such as bonding dissimilar materials, withstanding extreme weather conditions, or providing superior durability.

Report Coverage

The report: “Construction Adhesive Market– Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Construction Adhesives Industry.  

By Resin Type: Acrylic, Polyvinyl Acetate, Polyurethanes, Epoxy, Silicones and others.

By Technology: Waterborne, Reactive, Solvent borne, Hot-melt and others,

By End use Industry: Residential Construction (Independent Homes, Row Houses, and Large Apartment Buildings), Commercial Construction (Hospitals and Healthcare Infrastructure, Educational Institutes, Hotels and Restaurants, Banks and Financial Institutions, Airports and Infrastructure, Hyper and Super Market, Shopping Malls and others), Infrastructure, and Industrial Constriction. 

By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

  •  Asia Pacific dominates the market, owing to increased construction activities and various government initiatives such as 100 smart cities and Housing for all by 2022 in the region.
  • Growing demand for new and creative products and the need for research and development in construction adhesives have encouraged businesses to pursue organic and inorganic growth strategies to increase their market share.
  • Due to the COVID-19 Pandemic most of the countries has gone under lockdown, due to which operations of various industries including building and construction has been negatively affected, which is hampering the construction Adhesive Market growth. 


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Construction Adhesive Market Segment Analysis - Resin Type  

The acrylic segment held the largest share in the construction Adhesive Market in 2023, owing to its wide penetration in construction applications. As they offer excellent water resistance, have good impact strength and outstanding bonding properties, the construction industry prefers acrylic adhesives. In addition, during the forecast period, polyurethane and polyvinyl acetate adhesives are also rising at a significant rate. The use of wood in construction structures leads to modern construction principles and joining methods. In bridges, classrooms, offices, theatres, transmission towers, and multi-family homes, wood is being used increasingly. Polyurethane products have advantages that make them suitable for use in wood applications, such as their solvent-free nature, direct application and environmental compatibility. Polyvinyl acetate (PVA) construction adhesives have been widely used due to their useful and versatile performance in a wide range of applications such as packaging, furniture, laminated paper, textiles and construction. PVA can easily be removed and made available quickly for re-gluing.   

Construction Adhesive Market Segment Analysis - By Technology

Water borne adhesives held the largest share in the construction Adhesive Market in 2023. Water-borne adhesives use water to disperse a resin as a carrier or a diluting medium. They are established by allowing the water to evaporate or to be absorbed by the substrate. These adhesives are compounded by water as a diluent instead of a volatile organic solvent. They can be considered as low-VOC adhesives. Due to their eco-friendly and low-toxic nature, high solid material, and elevated initial adhesion properties, water-borne adhesives are rapidly becoming an integral part of various end-user industries. While the performance requirements of water-borne adhesives have increased over time, due to the technical sophistication of conventional adhesives, research activity has slowed down. By focusing on process technology capabilities and newer techniques, such as nanotechnology, the industry is attempting to revive research. In the building and construction industry, acrylic water-borne adhesives and latex water-borne adhesives are mainly used for various applications. Acrylic water-borne adhesives are mainly used as pressure-sensitive adhesives for tile bonding and laminating purposes in the construction industry, in the form of labels and tapes.

Construction Adhesive Market Segment Analysis - By End Use Industry

The residential construction segment held the largest share in the construction Adhesive Market in 2023 and is growing at a CAGFR of 5.6% during the forecast period. The growth of the residential sector has been positively affected by government incentives & support for first-time homebuyers in both developed and developing countries. The governments of countries such as India, Germany, Canada and Australia have declared different advantages under various schemes to promote the real estate industry. In 2023, China plans to provide at least $137 billion of low-cost financing to the nation’s urban village renovation and affordable housing programs in its latest effort to shore up the struggling property market. Furthermore, construction projects such as ‘100 smart cities’ and ‘Housing for All by 2022’ in India are influencing residential sector growth, thus supporting construction Adhesive Market growth.

Construction Adhesive Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the construction Adhesive Market in 2023 up to 45%, owning to growth in construction projects in countries such as India, Malaysia and others. For instance, in 2022, China's state planner approved 1.48 trillion yuan ($218.35 billion) worth of fixed asset investment projects, nearly double the value from the previous year, as authorities geared up to support the COVID-hit economy. According to India Brand Equity Foundation (IBEF), India plans to spend US$ 1.4 trillion on infrastructure in the next five years. In addition, in Nov 2023, India, Asian Development Bank sign $400 million loan pact to build high quality urban infrastructure. In addition, the government's Udan scheme in India is aimed at making air travel affordable, improving regional connectivity, and developing regional airports. Thus, it is anticipated that with the flourishing construction industry, there will be an upsurge in the demand for construction adhesives.    

Construction Adhesive Market Drivers

Increased demand for construction adhesives in the residential housing and infrastructure markets.

Construction adhesives are used in numerous applications in the construction industry, such as carpet laying, tile installation, wallpaper, and so on. The growth of the construction Adhesive Market has been spurred by these applications. However, the growing investments in infrastructure development such as airports, bridges, dams, and metro stations are driving the demand for adhesives for various applications. The increase in the middle-class population has also resulted in a rise in housing demand. This is expected to fuel the demand growth of building adhesives. The Government of India has reportedly worked out the specifics of the two new grant schemes under Prime Minister Awas Yojana (PMAY). The two new subsidy slabs from the government are aimed at fueling the real estate market and achieving housing for all by 2022. These schemes will apply to loans with a tenure of 20 years, as opposed to the existing maximum of 15 years. As a consequence, the number of economically weaker (EWS)/low income (LIG) families would now fall within the scope of the PMAY schemes. This will increase the formal credit flow to rural areas, which is expected to be used not only for the construction of new houses, but also for the conversion of existing old houses to new houses. Thus, these government initiatives are anticipated to drive the demand for construction adhesives. The Union Ministry also pursued USD 2.88 billion (INR 185 billion) to develop seven cities around the Delhi-Mumbai Industrial Corridor (DMIC) across six states. The USD 90 billion DMIC project, consisting of Uttar Pradesh, Haryana, Rajasthan, Gujarat, Maharashtra and Madhya Pradesh, is being established in cooperation with Japan as a manufacturing and trading hub. Industrial hubs and eco-friendly cities along the Delhi Mumbai Industrial Corridor (DMIC) are projected to double job opportunities, triple industrial production, and boost exports by doubling employment opportunities. This will primarily drive the country's construction Adhesive Market, as well as the entire APAC region. 

Increased demand for green adhesives.

Demand for green adhesives or those with low VOCs is being driven by the growing trend of using environmentally-friendly or green products in different applications. Strict regulations imposed by USEPA (United States Environmental Protection Agency), European REACH (Registration, Assessment, Authorisation and Restriction of Chemicals), Energy and Environmental Design Leadership (LEED) and other regional regulatory authorities have encouraged manufacturers to develop low-VOC adhesives that are environmentally friendly. The move towards a more sustainable portfolio of goods has given the industry a major opportunity for growth. Henkel's OSI Green Series, for instance, offers environmentally friendly caulks, sealants and adhesives for the green construction process. Under the brand name Titebond GREENchoice, Franklin International also develops environmentally-friendly building adhesives. These green adhesive solutions are made of renewable, recycled, remanufactured or biodegradable materials, which also support the health of the occupants by using these environmentally friendly products. 

Construction Adhesive Market Challenges 

Environmental regulations in North American and European countries.

Construction adhesives with fewer than 10 percent VOCs are now needed in major parts of the world. Europe and North America are strictly governed by environmental regulations affecting the manufacture of chemicals and petro-based goods. The processing of solvent-borne products in these regions is regulated by agencies such as the Epoxy Resin Committee (ERC), the European Commission (EC) and other regulatory bodies. For instance, In January 2018, the EU released the German version of DIN EN 16516, a test standard that uniformly governs the measurement of emissions of construction materials, including adhesives. The strict regulation to restrict VOC emissions is therefore expected to hinder the market growth. These regulations are restraining the growth of the construction Adhesive Market. 

Construction Adhesive Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Construction Adhesive Market. In 2023, the market of Construction Adhesive Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Construction Adhesive Market includes Henkel, 3M, Arkema, Sika, H.B. Fuller, BASF , Dow Chemical, DAP Products, Franklin International, Illinois Tool Works, Avery Dennison among others. 

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1. Construction Adhesive Market- Market Overview
    1.1 Definitions and Scope
2. Construction Adhesive Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by Resin Type
    2.3 Key Trends by Technology
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Construction Adhesive Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Construction Adhesive Market - Startup companies Scenario Premium
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Construction Adhesive Market– Industry Market Entry Scenario Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Construction Adhesive Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Construction Adhesive Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Construction Adhesive Market– By Resin Type (Market Size -$Million / $Billion)
    8.1 Acrylic 
    8.2 Polyvinyl Acetate
    8.3 Polyurethanes
    8.4 Epoxy
    8.5 Silicones 
    8.6 Others
9. Construction Adhesive Market– By Technology (Market Size -$Million / $Billion)
    9.1 Waterborne
    9.2 Reactive 
    9.3 Solvent borne
    9.4 Hot-melt 
    9.5 Others
10. Construction Adhesive Market– By End Use Industry (Market Size -$Million / $Billion)
    10.1 Residential 
        10.1.1 Independent Homes
        10.1.2 Row Houses 
        10.1.3 Large Apartment Buildings
    10.2 Non-residential 
        10.2.1 Hospitals and Healthcare Infrastructure
        10.2.2 Educational Institutes
        10.2.3 Hotels and Restaurants
        10.2.4 Banks and Financial Institutions
        10.2.5 Airports
        10.2.6 Hyper and Super Market
        10.2.7 Shopping Malls
        10.2.8 Others 
    10.3 Infrastructure
    10.4 Industrial Construction
11. Construction Adhesive Market - By Geography (Market Size -$Million / $Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Rest of South America
    11.3 Europe
        11.3.1 U.K
        11.3.2 Germany
        11.3.3 Italy
        11.3.4 France
        11.3.5 Spain
        11.3.6 Russia
        11.3.7 Rest of Europe
    11.4 Asia Pacific
        11.4.1 China
        11.4.2 India
        11.4.3 Japan
        11.4.4 Taiwan
        11.4.5 South Korea
        11.4.6 Rest of Asia Pacific
    11.5 ROW
        11.5.1 Middle East
        11.5.2 Africa
12. Construction Adhesive Market- Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Market Share Analysis 
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
    13.5 Best Practices for companies
14. Construction Adhesive Market- List of Key Companies by Country 
15. Construction Adhesive Market Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Henkel
    15.3 3M
    15.4 Arkema
    15.5 Sika
    15.6 H.B. Fuller
    15.7 BASF
    15.8 Dow Chemical
    15.9 DAP Products
    15.10 Franklin International
    15.11 Illinois Tool Works and more
    
"*Financials would be provided on a best efforts basis for private companies*"    
 

LIST OF TABLES

1.Global Construction Adhesives Market Analysis, by Product Market 2023-2030 ($M)
2.Global Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 ($M)
3.Global Construction Adhesives Market Analysis, by End-use Market 2023-2030 ($M)
4.Global Competition Landscape Market 2023-2030 ($M)
5.Global Construction Adhesives Market Analysis, by Product Market 2023-2030 (Volume/Units)
6.Global Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 (Volume/Units)
7.Global Construction Adhesives Market Analysis, by End-use Market 2023-2030 (Volume/Units)
8.Global Competition Landscape Market 2023-2030 (Volume/Units)
9.North America Construction Adhesives Market Analysis, by Product Market 2023-2030 ($M)
10.North America Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 ($M)
11.North America Construction Adhesives Market Analysis, by End-use Market 2023-2030 ($M)
12.North America Competition Landscape Market 2023-2030 ($M)
13.South America Construction Adhesives Market Analysis, by Product Market 2023-2030 ($M)
14.South America Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 ($M)
15.South America Construction Adhesives Market Analysis, by End-use Market 2023-2030 ($M)
16.South America Competition Landscape Market 2023-2030 ($M)
17.Europe Construction Adhesives Market Analysis, by Product Market 2023-2030 ($M)
18.Europe Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 ($M)
19.Europe Construction Adhesives Market Analysis, by End-use Market 2023-2030 ($M)
20.Europe Competition Landscape Market 2023-2030 ($M)
21.APAC Construction Adhesives Market Analysis, by Product Market 2023-2030 ($M)
22.APAC Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 ($M)
23.APAC Construction Adhesives Market Analysis, by End-use Market 2023-2030 ($M)
24.APAC Competition Landscape Market 2023-2030 ($M)
25.MENA Construction Adhesives Market Analysis, by Product Market 2023-2030 ($M)
26.MENA Construction Adhesives Market Analysis, by Formulation Technology Market 2023-2030 ($M)
27.MENA Construction Adhesives Market Analysis, by End-use Market 2023-2030 ($M)
28.MENA Competition Landscape Market 2023-2030 ($M)

LIST OF FIGURES

1.US Construction Adhesives Market Revenue, 2023-2030 ($M)
2.Canada Construction Adhesives Market Revenue, 2023-2030 ($M)
3.Mexico Construction Adhesives Market Revenue, 2023-2030 ($M)
4.Brazil Construction Adhesives Market Revenue, 2023-2030 ($M)
5.Argentina Construction Adhesives Market Revenue, 2023-2030 ($M)
6.Peru Construction Adhesives Market Revenue, 2023-2030 ($M)
7.Colombia Construction Adhesives Market Revenue, 2023-2030 ($M)
8.Chile Construction Adhesives Market Revenue, 2023-2030 ($M)
9.Rest of South America Construction Adhesives Market Revenue, 2023-2030 ($M)
10.UK Construction Adhesives Market Revenue, 2023-2030 ($M)
11.Germany Construction Adhesives Market Revenue, 2023-2030 ($M)
12.France Construction Adhesives Market Revenue, 2023-2030 ($M)
13.Italy Construction Adhesives Market Revenue, 2023-2030 ($M)
14.Spain Construction Adhesives Market Revenue, 2023-2030 ($M)
15.Rest of Europe Construction Adhesives Market Revenue, 2023-2030 ($M)
16.China Construction Adhesives Market Revenue, 2023-2030 ($M)
17.India Construction Adhesives Market Revenue, 2023-2030 ($M)
18.Japan Construction Adhesives Market Revenue, 2023-2030 ($M)
19.South Korea Construction Adhesives Market Revenue, 2023-2030 ($M)
20.South Africa Construction Adhesives Market Revenue, 2023-2030 ($M)
21.North America Construction Adhesives By Application
22.South America Construction Adhesives By Application
23.Europe Construction Adhesives By Application
24.APAC Construction Adhesives By Application
25.MENA Construction Adhesives By Application