Construction Adhesive and Sealant continues to gain traction in the housing and commercial infrastructure construction sector. Adhesives and Sealants are finding a wide range of application in the construction sector, hence their demand has witnessed a health uptick in recent years. Market Research Future (MRFR) in its latest report estimates that the global market for Construction Adhesive and Sealant will reach a valuation of USD 12 Bn by the end of 2022, witnessing a steady growth rate.
The construction sector has been witnessing a tremendous boom, which triggered a spur in several other sub-material. Growth of the construction sector has resulted in a demand spurt for various construction materials, including construction Adhesive and Sealant. They are used for affixing pre-finished panels, ceramic tile, wall covering, pipe cements, countertop laminate, HVAC, roof, drywall laminate and flooring material among others. In addition, the arrival of more effective Adhesives and Sealants has created new application opportunities. The construction sector has major contribution to the global GDP or GWP. Rapid urbanization, increasing per capita income and growth of the industrial sector in emerging economies is playing an important role in driving the growth of the construction sector. Moreover, the emphasis that is being placed on the product innovation has led to development of high-performance Adhesives and Sealants. Introduction of reactive technology-based Adhesive and Sealant products is expected to make a positive impact on the market.
Latest Industry Highlights:
Cologne-based company tremco illbruck with expertise in sealant products is reportedly set to introduce a high-performance product range. The company is renowned for its high-quality window sealant products.
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H.B. Fuller Company has recently announced of price hike on all its adhesives product categories, effective between 1st March and 1st April. Reportedly, the hikes will be ranging between 5% and 12% and will include products under its recently acquired brands (Wisdom, Adecol and Royal).
Global Market for Construction Adhesive and Sealant – Segmental Analysis
MRFR in its report has offered a thorough segmental analysis based on technology (waterborne, reactive, solvent borne, and others), type (Polyurethane, Acrylic, Polyvinyl Acetate, Epoxy, and others), end-use (roof & floors, Waterproofing, Walls & panels, Insulation, and others) and region (North America, APAC, Europe and Rest of the World (ROW)). During the forecast period, demand for reactive adhesives and sealants is expected to be relatively higher. This is primarily owing to their increasing use in automotive, construction, manufacturing applications, and leather.
Asia Pacific will remain at the Forefront of the Global Construction Adhesive and Sealant Market
In terms of revenue, the Asia Pacific (APAC) is expected to command for a significant share of the global market in 2018 and beyond. Robust industrialization and increased government investment to develop public infrastructure is reflecting favourably on the region’s market. Moreover, expansion of the population base is driving the need for housing in the region. The aforementioned factors have been propelling the Asia Pacific Construction Adhesive and Sealant Market. The construction sector in the region has been growing in leaps and bounds, consequently creating opportunities for various types of construction materials. Currently, APAC is the largest market for Construction Adhesive and Sealant and the trend in likely to continue throughout the assessment period.
Global Market for Construction Adhesive and Sealant – Competitive Dashboard
Some the prominent companies operating in the global market for Construction Adhesive and Sealant include Henkel A&G, Sika AG, Franklin International, DAP Products Inc., The Dow Chemical Company, 3M Company, Bostik SA, H.B. Fuller, ITW Polymers Sealants North America and Avery Dennision Corporation. Many of these companies are actively focusing on increasing their market presence by entering into strategic partnerships with local vendors and through M&A activities.
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