US Construction Adhesive & Sealants Market - Segmented by Resin Type, Technology, and End-user - Growth, Trends, and Forecast (2018 - 2023)
US Construction Adhesives market was valued at 941 kilo metric ton by volume and USD 3,241.5 million by revenue, in 2017 and is expected to register a CAGR of 4.73%, in terms of revenue, during the forecast period, 2018 to 2023. Increase in private construction expenditure is expected to drive the market in the forecast period.
Increase in Private Construction Expenditure is Driving the Market
The residential and non-residential construction, in 2017, has increased significantly and is likely to grow in 2018. The residential construction in 2016 and 2017 has increased year-on- year by 10.52% and 10.58% respectively. The non-residential construction has also increased by 7.71% from 2015 to 2016. In the non-residential construction, the major growth was witnessed in healthcare, commercial, and office buildings. The investment in transportation, communication, and power infrastructure has also witnessed growth in 2016 and 2017. Geographically, Texas, Dallas, Houston, and New Mexico are expected to witness the growth in terms of new construction.
Water-borne Technology – The Dominant Technology Type
Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent rather than a volatile organic solvent, and they can be considered as low VOC adhesives. Water-borne adhesives are increasingly becoming an integral part of various end-user industries, owing to their eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties. Acrylic water-borne adhesives and latex water-borne adhesives are majorly employed for different applications in the building and construction industry.
Major Players: Henkel AG & Co. KGaA, followed by Arkema (Bostik), ITW, Mapei, and HB Fuller amongst others.
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