Construction Adhesive Market to Witness a CAGR of Around 5%
According to latest research by Fact.MR, construction adhesive market is set to witness steady growth during 2021-2031. Demand for construction adhesive will witness growth in coming years, owing to the growing construction market in developing countries.
What is Driving Demand for Construction Adhesive?
Evolving end-user demand for heat, moisture resistance adhesive and quick fixing adhesives continue to drive the demand for construction adhesive. In the past few decades construction industry has grown multifold. Construction companies are using construction adhesive for water proofing, fixing the leakage roofs and other applications. Companies are using construction adhesive to replace the traditional method of fixing material with nuts and bolts, wood glue and contact cement, as these methods were expensive and also takes significant time to dry and eventually it increases the production cost.
Additionally, growing investment in commercial projects in developing countries have been increasing the demand construction adhesives. For instance, UAE government has planned to construct a food and agricultural hub which will support the use of technologies and research & development in food processing and agriculture. Apart, from this small and medium scale construction projects in developing countries has been supporting the demand construction adhesives.
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Covid-19 Affected the Global Construction Adhesive Sale
The construction industry has been badly affected globally, as most of the construction activities were on halt with the onset of pandemic. Apart from this, several orders for construction materials including adhesives were canceled, due to the halted activities. For instance, as per the report of India Rating, the sale of residential projects in India declined to 40% in FY2021.
Besides, the upstream supply chain of construction adhesives was also impacted, as companies faced issues in the procurement of raw materials like glue and other chemicals from other companies owing to the trade and transport restriction between countries.
Asia Pacific Construction Adhesive Market Outlook
Asia Pacific is the leading market for construction adhesive globally. The Asia Pacific accounts for more than 30% share of the global construction adhesive market. The demand in Asia Pacific is expected to grow at a rapid pace in the forecasted period (2021 – 2031), as the number of activities is increasing in end use industry.
India and China dominate the market of construction adhesive in Asia Pacific. The growing construction industry in India has supported the growth of the construction adhesive market. For instance, recently, in Wuhan, Chinese government has decided to construct an urban rail transit which will include four metro lines and four urban express lines in the central Chinese city of Wuhan. Such projects will continue to benefit construction adhesive demand in the country.
Apart from this, Indian government has planned to construct a six lane road to connect cities with metro cities. Additionally, Indian government has planned to construct 2 crore residents under Pradhan Mantri Awas Yojana, this project will provide a home to the urban poor at affordable rates and it will directly affect the market growth of the construction adhesive market.
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MEA Demand Outlook for Construction Adhesive
MEA construction adhesive market is expected to have high growth in the forecasted year, owing to continuous increase in mega construction projects in cities like Dubai, Abu Dhabi and Riyadh.
For instance, In Saudi Arabia government is constructing a megaproject AMAALA, to boost the tourism in the country. This project includes the construction of luxury hotels with 2,525 hotel rooms, 700 private villas, 1,496 residential units, a dedicated airport, more than 200 shops, a retail village, marinas, several yachting clubs and an Academy of the Arts. Such projects in the country are projected to boost the construction adhesive sales.
Who are the Key Manufacturers and Suppliers of Construction Adhesive?
Some of the leading manufacturers and suppliers of construction adhesive includes
- The Gorilla Glue Company
- 3M Company
- MG Chemcials
- Chang Chun Group
- Nan Ya Plastics Corporation
- Jiangxi Tengde Industrial Co. Ltd.
- Shenzhen Zhengdasheng Chemical Co. Ltd.
- SHENZHEN MEITAIBANG CHEMICAL CO. LTD.
- SHENZHEN TIANMAXUN TECHNOLOGY CO.LTD.
- Foshan Xinboqiao Electronic Co.Ltd.
- Shanghai Wenyou Industry Co. Ltd.
- Kater Adhesives Industrial Co. Ltd.
- Shenzhen Jinhua Electronic Materials Co. Ltd.
- ZANSHARE GROUP (ZHEJIANG) CO. LTD.
- Kaneka Corporation
- Diamond Electric Mfg. Co. Ltd.
- Dic Corporation
- Shikoku Chemicals Corporation
- Senko Sangyo Co., Ltd.
An Adaptive Approach to Modern-day Research Needs
Construction adhesive Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Resin Type
By Technology Type
- Reactive & Others
By End User
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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