Global Construction Adhesives Market - Segmented by Resin Type, Technology, End-User Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)
The global construction adhesive market is expected to register a moderate CAGR during the forecasted period, 2018-2023. Asia-Pacific dominated the construction adhesive market in 2017, and is also expected to register the fastest growth during the forecast period.
Rapidly Growing Construction Industry in Asia-Pacific & the Middle East Driving the Market
Asia-Pacific region has the largest construction market globally and is expected to outpace both the United States and Europe in terms of construction investment during the next five years. With construction investment expected to average USD 1.61 trillion annually, such growth in the construction sector will significantly drive the market for construction adhesives in the upcoming years. The Middle East region also has one of the fastest growing construction markets in the world, with growth majorly driven by countries, such as Saudi Arabia and UAE. Such positive outlook is expected to drive the construction adhesives market in the region through 2023.
Residential - the Dominating End-user Industry Segment
Both the construction of new homes, coupled with active residential remodeling and repair activities has helped residential segment dominate the end-user industry in the construction adhesive market. For instance, in the United States the residential construction is expected to grow by 6% in 2018. Furthermore, the remodelling and repair activities in the country too have been rising steadily with increasing investments by buyers on home improvements, primarily owing to the hike in the prices of new homes. Continuous investments in the residential sector would likely augment the market growth for construction adhesives.
Asia-Pacific – the Largest Regional Market
Asia-Pacific accounted for the largest market for construction adhesives, owing to huge demand from the construction market in India, China, and various countries in Southeast Asia. Development of 100 smart cities in countries, like India and Government projects, such as ‘Housing For All’ by 2022, significant growth in the construction sector of Indonesia, Singapore, Vietnam, restructuring of South Korea’s construction industry are some of the few factors driving the construction adhesives market growth in the Asia-Pacific region.
September 2017: H.B. Fuller Company announced their decision to acquire Royal Adhesives and Sealants for USD 1.575 billion. The successful acquisition would make the combined company one of the world’s largest makers of specialty adhesives
August 2017: Sika AG acquired ABC Sealants, a Turkish-based manufacturer of sealants and adhesives
Major Players: Henkel AG & Co. KGaA, Arkema (Bostik), ITW, Mapei, and HB Fuller, RPM International, Sika AG, and 3M Company, amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating resin type, technology, end-user industry in the market
Identifying the regions and countries, which are expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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