Construction adhesives market
Adhesives are bonding agents used to join materials by glueing.
The construction adhesive market is estimated to reach around $10.56 Billion by value by 2020, showing a firm CAGR of around 5.13% between 2015 and 2020.The market is strong in the housing, commercial, and infrastructure applications.
Increasing demand for construction adhesives globally has been driven by rising construction and infrastructure activities. Additionally, usage of the construction adhesive in the commercial and housing applications is anticipated to increase the global market. Low cost and easy availability may fuel growth in future, along with improved properties and better production techniques. However, unstable material prices are the major restraints to the growth of the global market.
The characteristics of end products differ by the requirements of end-user industries for different applications.
The market is segregated based on the application as; countertop lamination, resilient flooring, manufactured housing, pre-finished panels, drywall lamination, roofing, concrete, joint cement, and flooring underlayment. Based on types, the global market is fragmented as epoxy, silicone, and polyurethane.
The global market based on technology is divided into; waterborne, thermoset resin, and solvent-borne.
The geographical categorisation of the global construction adhesive market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The Asia-Pacific region is the fastest growing segment of the market and this is mainly attributed to high economic growth, rising demand from infrastructure development, maintainance and renovation, generating demand for bio-based adhesives. The Asia-Pacific and the rest of the world (RoW) markets are estimated to show excellent growth in the next five years with the allied industries expected to stabilise the overall business need in the respective regions.
The Eastern and Central European nations, emerging South-East Asian, and Latin American nations that will see growth in infrastructure development, followed by rising demand from onsite applications which will directly boost the demand for the construction adhesives.
Major players in the global construction adhesive market are Polymeric Systems, Inc., Kenneth Crosby, Acoustical Surfaces, Inc., ITW, Franklin International, Green Glue Co, and Dow Corning Corp. Other players include Avatack Co., Ltd., Henkel, H.B. Fuller and Bostik, Avery Dennision Corp., McCoy Soudal, Sika, 3M, The Dow Chemicals Co., and DAP Products.
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