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(Construction.IndustryNews247.Com, October 01, 2018 ) Global Construction Adhesive Market is expected to reach USD 14,112.52 Million by 2025 from USD 9,235.00 Million in 2017, at a CAGR of 5.7% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Segmentation: Global Construction Adhesive Market
Global Construction Adhesive Market By Resin Type {Acrylic Adhesive (Anaerobic, Cyanoacrylates, Reactive), Polyurethanes (Non-Reactive, Reactive), Polyvinyl Acetate, Epoxy, Silicone, Others}, Technology {Waterborne (Natural, Synthetic), Solvent Borne, Reactive (One-Component, Two-Component), Hot Melt, Others), Product Type (Flooring, Walls, Tiles, Concrete, Surface, Others), End User (Residential, Commercial, Infrastructure, Industrial, Others), Geography (North America, Europe, Asia Pacific, South America, Middle East and Africa) Industry Trends and Forecast to 2025
Drivers: Global Construction Adhesive Market
The major factors driving the growth of this market are the rising demand of adhesives in construction, increased government expenditure on infrastructure, rising demand of glazing and panels in high rise buildings and advancements for safe and easy application. On the other hand, less scope of development in developed countries due to established infrastructure and stringent regulatory scenario may hinder the market.
RISING DEMAND OF ADHESIVES IN CONSTRUCTION
The construction industry is growing specifically the residential housing market hence the need for construction adhesives is also growing as the adhesives find extensive application in construction and water proofing applications such as in fixing of tiles on the external floor and internal walls. One of the largest market areas for the growth of adhesives and sealants is in building/construction market. There are a numerous applications where these adhesive products in building & construction for various application such as for carpet laymen, ceramic tile fixing, concrete flooring underlayment, drywall lamination, ventilation, air conditioning, joint cements, manufactured of pre-finished panels, resilient flooring, roofing, wall covering. The various types of adhesives used for applications in construction are acrylic adhesive, polyurethanes, polyvinyl acetate, epoxy, and silicone.
Resin type adhesives such as thermoset plastics which are made by the reaction of two or more industrial chemical compounds are majorly used in the construction industry. These adhesives such as cyanoacrylate which are instant and high-performance adhesives are used to make laminated woods for decks, walls, roofs and other building applications, as well as in other products that require strong bonds to a variety of substrates, for example to concrete or wood. Epoxies can stick to wood, metal, glass, stone and some plastics, and are more heat- and chemical-resistant than most glue. Epoxy resins also help to provide durable, high-gloss outdoor coatings, as well as sealers for concrete floors and other heavy-duty protective coatings used in industrial settings.
Benson Polymers Limited offer premium quality range of construction adhesive, This adhesive has excellent bonding capacity hence are used for flooring purposes.
As the construction industries is growing the major chemical industries such as BASF,3M are investing more in the production of construction adhesives which is major driving factor for the construction adhesive market.
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INCREASED GOVERNMENT EXPENDITURE ON INFRASTRUCTURE
Infrastructure sector is a key driver for the economy of countries globally. The sector is highly responsible for driving development of the country and hence government is initiates policies that would ensure creation of world class infrastructure in the country. Infrastructure sector includes power, bridges, dams, roads and urban infrastructure development. In 2016, India ranked 35th amongst 140 countries in World Banks Logistics Performance Index (LPI) 2016.
According to article published by India brand equity foundation the Indian government has made various investments in the infrastructure sector such as
The ministry of road transport and highways, government of India, invested (USD 2.32 billion) for the special accelerated road development programmed for north east (USD 635.6 million) for the national highway (original) over the past two years to improve the road infrastructure in Indias north eastern region.
The 90 smart cities shortlisted by the government of India have proposed projects with investments of (USD 30.02 billion) which include projects focusing on revamping an identified area (area based projects) with investment of (USD 23.95 billion).
In U.S, spending on transportation, drinking water, and wastewater infrastructure is done by the public sector. Federal, state, and local governments spent around USD 416 billion on it in 2014. That amount equaled about 2.4 percent of gross domestic product, the largest amount of public infrastructure spending in 2014 went on highways ($165 billion), followed by water utilities and mass transit and railways.
In Indonesian infrastructure is the top policy priority of the Indonesian president joko widodo. In the 2016 budget, the Indonesian government earmarked the highest amount ever allocated for infrastructure development approx. USD 22.9 billion, according to the 2015-2020 medium-term development plan.
Hence as the government is investing more in the infrastructure development and the new infrastructure are been constructed the need for construction adhesive will increase which is also one of the major drive for construction adhesive market.
Major Players: Global Construction Adhesive Market
Some of the major players operating in this market are
Henkel AG & Co.
KGaAHenkel AG & co. Kgaa,
H.B. Fuller Company,
Bostik (subsidiary of Arkema),
Sika AG,
DowDuPont,
3M,
DAP Products Inc.,
Franklin International,
ITW Polymers Adhesives,
AVERY DENNISON CORPORATION,
Gludown, Inc.,
Resinova Chemie Ltd.,
MAPEI S.P.A. among others.
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Data Bridge Market Research
Data Bridge Market Research
+1-888-387-2818
sopan.gedam@databridgemarketresearch.com
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