Global Building & Construction Adhesives Market - 2021-2028

Global Building & Construction Adhesives Market - 2021-2028

Building & Construction Adhesives Market Overview The global building & construction adhesives market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028). Adhesive is a strong, permanent glue for adhering materials. Different adhesives are recommended for different types, such as noise reduction membranes, porcelain tiles, ceramic tiles, resilient tile, wood flooring and others. Floor adhesives have extensive application across industrial, residential, and commercial industries due to their superior adhesion properties and cost-effectiveness, making them preferable in the current growing market. The rising demand from the residential and non-residential sectors, governments’ incentive for affordable housing to boost construction activities, and ongoing infrastructural projects have been the major factors driving the rapid expansion of the construction adhesives market. Moreover, the demand for adhesives has increased in the Asia-Pacific countries such as India, China, Indonesia, Malaysia, Thailand in construction works, repairs, maintenance, and renovation of floors, roofs, wall coverings and airport construction Building & Construction Adhesives Market Dynamics Increasing use of timber in building and construction is expected to drive the market In recent years, many buildings and apartments have witnessed an increased use of timber, which is a renewable building material. Adhesive technology has made it easier to build safe and sustainable houses using these materials. These materials are popular in countries such as the U.S. and the western region. The demand for timber in construction applications is increasing. For instance, load-bearing structures consisting of layers of different timbers can be glued together using adhesives and structures of varying lengths that can withstand high pressure can be built. Also, curved structures can be created by laminating wood with suitable glue. Growing demand for building & construction adhesives in the residential housing and infrastructure markets Construction adhesives are utilized in different applications, for example, cover laying, tile establishment, backdrops, and outside protection frameworks in the development business. These applications have prodded the development of the development glues market. The expanding interests in framework advancement like air terminals, extensions, dams, and metro stations drive interest in cementing ground surface, development joints, boards, and different applications. Additionally, the expansion in the working class populace has brought about ascent popularity for houses. This is relied upon to drive the building & construction adhesive market growth. Stringent environmental regulations regarding the Volatile Organic Compounds (VOC) emissions are likely to hinder the Building & Construction Adhesives market Environmental regulations and specifications from international bodies, federal state, local governments and different NGOs are becoming prevalent. For instance, CARB (California Air Resources Board) regulations and LEED (Leadership in Energy and Environmental Design) certification requirements are required at the forefront of regulatory issues involving adhesives. Both the bodies limit generated VOCs and formaldehyde in adhesives. Depending on the amount and type of VOCs emitted, these can disrupt ecosystems and have crippling effects on the environment, such as global warming, acid rain and several serious health issues. Building & Construction Adhesives Market Segment Analysis Based on type, the building & construction adhesive market is segmented into urethane, epoxy, acrylic and vinyl adhesive. Urethane adhesive is anticipated to dominate the segment owing to its extensive applications in various substrates such as concrete, wood, plastics and glass. Urethane adhesives are one of the most important types of structural adhesives. Unlike epoxy or acrylic adhesives, urethane adhesives are formulated with much lower viscosity. Also, urethane adhesives are offered as either one-component (1k) or two-component (2k) systems. Moreover, Urethane adhesives have low odor, deliver fast or slow cure times, and combine high toughness, flexibility and strength, making these adhesives an ideal choice for joining lightweight and structural assemblies. Due to multiple properties, urethane adhesive has a wide range of applications. As per the Statista study, the global demand for urethane adhesives and sealants for the automotive industry was 230 thousand tons in 2017. It is projected to increase to 250 thousand tons in 2022. Henceforth, with increasing global demand and extensive applications in different industries such as construction, transportation, manufacturing and many others, urethane is projected to dominate the forecast period. Building & Construction Adhesives Market Geographical Analysis Asia-Pacific dominates the building & construction adhesive market with the growing construction and infrastructure industries in countries like China and India Asia-Pacific region dominates the global floor adhesives market share with growing construction activities in countries such as China, India and other ASEAN Countries. For instance, the Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. As per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year. In 2017, the Indian government announced an investment worth USD 31,650 billion to construct 100 cities under the smart cities plan. Over the five years, one hundred smart cities and 500 cities are likely to invite investments worth ~USD 28.18 billion. Approximately, 9% of India's GDP is spent on infrastructural services. India's government has given enormous momentum to the infrastructural sector by allocating ~USD 92.22 under the Union Budget 2018-2019. Hence, with the growing construction activities and infrastructure, floor adhesives' demand is expected to increase over the forecast period rapidly. Building & Construction Adhesives Market Competitive Landscape The building & construction adhesives market is moderately competitive with the presence of local as well as global companies. Some of the key players contributing to the growth of the market include BASF SE, Sika AG, 3M, Dow, Akfix, H.B. Fuller, Advanced Adhesive Technologies Inc., MAPEI S.p.A., Bostik, Henkel, among others. The major players have several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the growth of the building & construction adhesives market globally. BASF SE Overview: BASF SE is a German multinational chemical company. It is the largest chemical-producing country in the world. The company headquarters is in Ludwigshafen, Germany. The company has subsidiaries and joint ventures in more than 80 countries. Product Portfolio: BASF SE has products in various industries such as agriculture, automotive & transportation, chemicals, construction, electronics & electric and many more. Building & Construction adhesives is in the 'Floor Covering Solutions' segment. The company produces five types of adhesive in floor adhesive, namely, carpet and vinyl feltback adhesive, wood floor adhesive, vinyl composite tile adhesive, ceramic tile & mastics and laminate & vinyl floor adhesive. Why Purchase the Report? • Visualize the composition of the building & construction adhesives market segmentation by type, technology, application, end-user and region, highlighting the critical commercial assets and players. • Identify commercial opportunities in the building & construction adhesives market by analyzing trends and co-development deals. • Excel data sheet with thousands of data points of the building & construction adhesives market-level 4/5 segmentation. • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. • Product mapping in excel for the critical product of all major market players The global building & construction adhesives market report would provide access to an approx: 69 market data table, 64 figures and 180 pages. Target Audience • Service Providers/ Buyers • Industry Investors/Investment Bankers • Real Estate Industry • Construction Companies • Emerging Companies • Manufacturers