Construction Adhesives & Sealants Chemical Market Report Overview
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The global construction adhesives & sealants chemical market size was USD 8.364 billion in 2022 and the market is expected to reach USD 11.01 billion in 2030, exhibiting a Compound annual growth rate (CAGR) of 3.5% during the forecast period.
The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Non-metallic materials that may be joined firmly to surfaces using an adhesive method are known as adhesives. Over alternative binding methods, using adhesives in construction has some benefits. These include the capability of joining various materials, the better stress distribution across a joint, the affordability of an easily automated procedure, and more design flexibility. Adhesives can be created artificially or organically. A few of the several glue types used in building are listed here:
- Polymer adhesives
- Hot melt adhesives
- Acrylic adhesives
- Resin adhesives
- Anaerobic adhesives
- Epoxy adhesives
- Pressure adhesives
- Electrically conductive adhesives
- Phenolic resin adhesives
- Plastisol adhesives
- Reactive adhesives
- Solvent-Based adhesives
- Thermoset adhesives
- UV Curing adhesives
- Water-based adhesives
Sealants are compounds that prevent liquids and other substances from seeping through surfaces and mechanical parts. Additionally, sealants prevent the escape of air, insects, dust, sound, and heat. On the market, there are many different kinds of sealants, and each one has particular advantages. They may be transient or enduring, frail or robust, flexible or rigid.
When concrete or mortar cannot be utilized to seal an opening between two surfaces, sealants are often used. They fulfil three essential purposes:
- Bridging the space between two or more elements
- Creating a barrier that is impervious to chemicals and serves as protection.
- Preserving their sealing abilities for the duration of their anticipated lifetime, in the environments and service conditions for which they are designed.
The most popular types of sealants used in construction are seven. Based primarily on the performance characteristics mentioned above and the substrate characteristics, they vary in price and applications.
- Latex
- Acrylic
- Butyl
- Polysulfide
- Silicone
- Polyurethane
- Polyisobutylene
The industry for adhesives and sealants is anticipated to increase as a result of the rising demand for these materials across a variety of applications, including paper and packaging, medical & hygiene, consumer & DIY, and others.
COVID-19 Impact: The Product's Low Supply and High Demand Restrained Market Expansion.
Many businesses, including construction adhesive and sealant were impacted by the COVID-19. The potential for an adhesive and sealant shortage in the building industry is one of the major effects. Construction firms devised fresh methods for completing projects without utilizing these materials. Another effect was the potential for a lack of building supplies. This required building businesses to use fewer resources and come up with inventive ways to repurpose materials that could be harder to come by.
The COVID-19 had a wide range of impacts on the construction adhesive and sealant sector. The first factor that had an impact on the industry was the virus spreading among the workers. As the virus spread through the workforce, some construction companies were forced to close their doors due to a lack of qualified candidates. As a result, the industry as a whole had suffered.
Latest Trends
"The Use of Novel Techniques in the Construction Sector Drove Market Expansion."
The needs of the modern world are being met by the building industry's evolution. Due to the expanding population and the increased demand for infrastructure upgrades, the construction industry has experienced exponential growth. The need for innovation in building materials is driving the most recent trends in the construction sector, which is currently being driven by technology. The construction sector is seeking for solutions to cut waste and shorten the time it takes to finish projects. Increasing efficiency and lowering costs are two goals shared by the construction sector. In order to keep up with the needs of the modern world, the construction sector is growing quickly and utilizing cutting-edge technologies. The construction sector is currently aiming to cut down on waste and time while improving the effectiveness of construction projects.
Construction Adhesives & Sealants Chemical Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Adhesives, Sealants, and Construction Adhesives & Sealants Chemical. Among these Adhesives Type is projected to experience rapid growth through 2030.
- By Application Analysis
Based on application, the market can be divided into residential, commercial, infrastructure, and others application. The residential application is expected to hold the largest construction adhesives & sealants chemical market share in the upcoming years.
Driving Factors
"Construction Material Demand Drove Market Expansion"
The demand for building materials and the necessity for innovation in the industry are the driving forces behind the Construction Adhesives & Sealants sector. The construction sector is a large, rapidly expanding global industry today. This industry is expanding and occupying more and more space globally. The needs of the construction industry are changing as a result of the industry's ongoing change.
"The Need for Eco-friendly Products and the Increase of Applications Related to Building Will Drive Market Growth."
The demand for environmentally friendly products and the growth of applications tied to building are the industries' main drivers. The need for environmentally friendly products and the increase in applications associated to construction are predicted to drive the industry's growth over the next five years. The emergence of a global economy is another factor that will likely cause the industry to expand.
Restraining Factors
"Market Change Will Impede the Expansion of the Industry"
The Construction Adhesives & Sealants industry is constrained by a few things. The shifting market is one of them. Market volatility exists in the construction adhesive and sealant sector. There are numerous reasons that can alter the market. The absence of knowledge is another barrier. The adhesive and sealant manufacturing business lacks knowledge. The numerous kinds of chemicals and the dangers they cause are likewise not well understood in the sector. There are a few regulatory-related restraints on the industry as well.
Construction Adhesives & Sealants Chemical Market Regional Insights
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"North America to Dominate Market Owing to Modern Technologies and Digitalization "
Between 2022 and 2030, the construction adhesives & sealants chemical market will be dominated by North America (U.S., and Canada). Factors driving the construction adhesives & sealants chemical market growth in this region include construction material demand and need for eco-friendly products.
Additionally, the construction adhesives & sealants chemical is anticipated to experience the fastest growth in the European countries (Germany, France, U.K., Italy, and Russia) and Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific) region. The expansion of regional markets is also being fueled by the increase of applications related to construction industry.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Henkel AG & Company (Germany)
- H.B. Fuller (U.S.)
- Bostik SA (France)
- Sika AG (Switzerland)
- 3M (U.S.)
- Illinois Tool Works Corporation (U.S.)
- Avery Dennison Corporation (U.S.)
- DAP Products (U.S.)
- Royal Adhesives & Sealants (U.S.)
- Franklin International (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 8.364 Billion in 2022 |
Market Size Value By |
US$ 11.01 Billion by 2030 |
Growth Rate |
CAGR of 3.5% from 2022 to 2030 |
Forecast Period |
2023-2030 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global construction adhesives & sealants chemical market expected to touch by 2030?
The global construction adhesives & sealants chemical market is expected to touch USD 11.01 billion by 2030.
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What CAGR is the construction adhesives & sealants chemical market expected to exhibit during 2022-2030?
The construction adhesives & sealants chemical market is expected to exhibit a CAGR of 3.5% over 2022-2030.
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Which are the driving factors of the construction adhesives & sealants chemical market?
The construction material demand, need for eco-friendly products and the increase of applications related to building are some of the driving factors of the construction adhesives & sealants chemical market.
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Which are the top companies operating in the construction adhesives & sealants chemical market?
Henkel AG & Company (Germany), H.B. Fuller (U.S.), Bostik SA (France), Sika AG (Switzerland), and 3M (U.S.) are the top companies operating in the construction adhesives & sealants chemical market.