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Construction Adhesives Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, India, Germany, France - Size and Forecast 2024-2028

Construction Adhesives Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, India, Germany, France - Size and Forecast 2024-2028

Published: Aug 2024 150 Pages SKU: IRTNTR74117

Market Overview at a Glance

$2.90 B
Market Opportunity
4.5%
CAGR
4.23
YoY growth 2023-2024(%)

Construction Adhesives Market Size 2024-2028 

The construction adhesives market size is forecast to increase by USD 2.9 billion, at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. Firstly, increased government spending on infrastructure projects worldwide is leading to a surge in demand for construction adhesives. Secondly, there is a rising trend towards the adoption of eco-friendly adhesives due to growing environmental concerns. This shift is expected to drive the market for sustainable adhesive solutions. Additionally, the price of construction adhesives has been on the rise due to increasing raw material costs and supply chain disruptions. Despite these challenges, the market is expected to continue its growth trajectory, fueled by the ongoing demand for durable and high-performance adhesives in the construction industry.

What will be the Size of the Market During the Forecast Period?

Construction Adhesives Market Size

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Market Dynamic and Customer Landscape

The market is evolving with diverse products tailored for various applications. The industry features solvent-based adhesives and water-based adhesives, including acrylic adhesives, polyvinyl acetate, and epoxy adhesives. A significant focus is on low-VOC adhesives and VOC-free adhesives for eco-friendly solutions. Wood, metal, plastic, and concrete bonding are well-represented, with solutions in the residential, commercial construction, and nonresidential sector. The industrial segment benefits from innovations like VC shield technology and epoxies. Polyurethane adhesives and reactive adhesives are key players, with advancements in water-based technology. Eco-friendly construction adhesives such as OSI Green Series and Titebond GREENchoice highlight the push towards green products. The market caters to infrastructure, nonresidential, and residential needs, embracing green products for sustainable growth.

Key Market Driver

Increased government spending on infrastructure is notably driving market growth. The construction adhesives industry is experiencing significant growth due to the increasing demand from both the residential and nonresidential sectors. In the industrial segment, the use of construction adhesives is prevalent in applications such as carpet laying, tile installation, and wallpapers. Epoxies and polyurethane adhesives are popular choices in industrial settings due to their high bonding strength and durability. In the nonresidential sector, reactive adhesives are commonly used for construction applications. The rise in government spending on infrastructure projects is driving the demand for construction adhesives, as these projects require strong and long-lasting adhesives for various applications.

Additionally, there is a growing trend towards the use of ecofriendly construction adhesives, such as the OSI Green Series and Titebond GREENchoice, due to increasing concerns about sustainability and the environment. These green products offer similar performance to traditional adhesives while reducing the carbon footprint of construction projects. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The rise in adoption of eco-friendly adhesives is the key trend in the market. The construction adhesives industry is witnessing significant growth, particularly in the nonresidential sector and industrial segment. Epoxies and polyurethane adhesives continue to dominate the market due to their superior bonding strength and durability. However, the trend is shifting towards solvent-free and reactive adhesives, which emit fewer volatile organic compounds (VOCs) and contribute to a healthier work environment. In response to the increasing demand for eco-friendly construction adhesives, manufacturers are producing green products that use low VOC-emitting materials, such as recycled denim or cellulose insulation.

Moreover, these eco-friendly adhesives are gaining popularity in applications like carpet laying, tile installation, and wallpaper hanging, as they help reduce solvent emissions and airborne particles. Some notable brands in this space include the OSI Green Series and Titebond GREENchoice. The future of the market lies in the production of adhesives from renewable, plant-based, and animal-based materials, such as starch, mussels, oysters, and others. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

The rise in the price of construction adhesives is the major challenge that affects the growth of the market. The Construction Adhesives industry is experiencing notable growth in both the Residential and Nonresidential sectors. The Industrial segment, specifically, is witnessing a considerable increase in demand due to its extensive use in applications such as carpet laying, tile installation, and wallpapers. Epoxies and Polyurethane adhesives dominate the market, with Solvent-based products and Reactive adhesives following closely. However, the market growth is challenged by the high cost of construction adhesives, particularly in developing economies. The production of these adhesives relies on raw materials sourced from crude oil and petrochemicals, including silicone, polyurethane, ethylene vinyl acetate, and others.

Further, the unpredictability of crude oil prices may impact the cost of raw materials, potentially affecting market vendors' profitability. For instance, the global crude oil price escalated from USD50 per barrel to USD86 per barrel between January 2021 and October 2021. In response to environmental concerns, the demand for Ecofriendly construction adhesives, such as OSI Green Series and Titebond GREENchoice, is on the rise. Green products are gaining popularity due to their reduced carbon footprint and sustainability. Hence, the above factors will impede the growth of the market during the forecast period

Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Construction Adhesives Market Share by Geography

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

3M Co. - The company offers polyurethane construction sealant 525 which is designed to seal construction expansion joints.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

  • ARDEX GmbH
  • Arkema SA
  • Avery Dennison Corp.
  • Custom Building Products
  • DAP Global Inc.
  • Dow Inc.
  • Dribond Construction Chemicals
  • DURA PRO
  • FLEXTILE LTD.
  • Franklin International
  • H.B. Fuller Co.
  • Henkel AG and Co. KGaA
  • Illinois Tool Works Inc.
  • JMH International Ltd.
  • LATICRETE International Inc.
  • Mapei SpA
  • Saint Gobain Weber
  • Sika AG
  • Terraco Holdings Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

By End-user 

The residential segment is estimated to witness significant growth during the forecast period. Construction adhesives play a crucial role in various applications within the construction industry, including bonding wood, metal, plastic, concrete, foam boards, shingles, tiles, membranes, vinyl, carpet, and diverse materials used in flooring installation, baseboards installation, crown molding installation, drywall bonding, and infrastructure projects. The market for construction adhesives encompasses several types, such as solvent-based adhesives, water-based adhesives, acrylic adhesives, polyvinyl acetate, epoxy adhesives, low VOC adhesives, and VOC-free adhesives.

Construction Adhesives Market Size

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The residential segment was the largest and was valued at USD 4.44 billion in 2018. Solvent-based adhesives, known for their high bonding strength, are widely used in applications requiring high abrasion resistance, like road construction, bridge repair, and tunnel installation. Water-based adhesives, on the other hand, offer energy efficiency and are preferred for applications like roofing installation, wall paneling, insulation installation, and residential construction due to their eco-friendly properties. Advancements in technology have led to the development of reactive technology, such as VC shield technology and water-based technology, which provide enhanced performance and durability. Epoxy adhesives, known for their excellent strength and chemical resistance, are commonly used in commercial and industrial construction and infrastructure projects. The demand for low VOC and VOC-free adhesives is increasing due to environmental concerns and regulations.

Regional Analysis

Construction Adhesives Market Share by Geography

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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Construction adhesives play a crucial role in various applications within the construction industry, including bonding wood, metal, plastic, concrete, foam boards, shingles, tiles, membranes, vinyl, carpet, and other materials for flooring installation, baseboards installation, crown molding installation, drywall bonding, and infrastructure projects. The market for construction adhesives encompasses various types, such as solvent-based adhesives, water-based adhesives, acrylic adhesives, polyvinyl acetate, epoxy adhesives, low-VOC adhesives, and VOC-free adhesives. Solvent-based adhesives offer high bonding strength and fast curing, while water-based adhesives provide energy efficiency and lower VOC emissions.

However, acrylic adhesives offer excellent bonding strength and water resistance, making them suitable for applications like roofing installation and wall paneling. Epoxy adhesives provide superior abrasion resistance and chemical resistance, making them ideal for bridge repair, tunnel installation, and industrial construction. Construction adhesives are used extensively in residential, commercial, and industrial construction, as well as infrastructure projects. The latest advancements in technology include VC shield technology, water-based technology, reactive technology, and solvent-based technology, which offer enhanced performance and durability. These adhesives contribute significantly to energy efficiency, infrastructure development, and the overall success of construction projects.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

  • End-user Outlook
    • Residential
    • Commercial
    • Industrial
  • Application Outlook
    • Large Enterprise
    • Small and Medium Enterprise
  • Region Outlook
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

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  • Adhesive Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Germany, India, UK - Size and Forecast

Market Analyst Overview 

Construction adhesives refer to specialized bonding agents used in the construction industry for joining various materials such as wood, metal, plastic, concrete, foam boards, shingles, tiles, membranes, vinyl, carpet, and more. Two common types of construction adhesives are solvent-based and water-based adhesives. Solvent-based adhesives, including acrylics and epoxies, offer strong bonding capabilities but can emit volatile organic compounds (VOCs), requiring proper ventilation during application. In response, the market has seen a shift towards low VOC and VOC-free adhesives, such as polyvinyl acetate and acrylics. Construction adhesives play a crucial role in various applications, including flooring installation, baseboards installation, crown molding installation, drywall bonding, road construction, bridge repair, tunnel installation, roofing installation, wall paneling, insulation installation, residential construction, commercial construction, industrial construction, and infrastructure projects. Advanced technologies like VC shield technology and water-based technology enhance the performance and sustainability of construction adhesives. Key features include energy efficiency, abrasion resistance, and compatibility with diverse materials.

Market Scope

Report Coverage

Details

Page number

150

Base year

2023

Historic period

 2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.5%

Market Growth 2024-2028

USD 2.9 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

4.23

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 45%

Key countries

US, China, India, Germany, and France

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., ARDEX GmbH, Arkema SA, Avery Dennison Corp., Custom Building Products, DAP Global Inc., Dow Inc., Dribond Construction Chemicals, DURA PRO, FLEXTILE LTD., Franklin International, H.B. Fuller Co., Henkel AG and Co. KGaA, Illinois Tool Works Inc., JMH International Ltd., LATICRETE International Inc., Mapei SpA, Saint Gobain Weber, Sika AG, and Terraco Holdings Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period

Customization purview

If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
  • Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming market growth and trends and changes in consumer behavior
  • Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
  • Thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

Table of Contents not available.

Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Construction Adhesives market growth will increase by $ 2899.8 mn during 2024-2028.

The Construction Adhesives market is expected to grow at a CAGR of 4.5% during 2024-2028.

Construction Adhesives market is segmented by End-user( Residential, Commercial, Industrial)

3M Co., ARDEX GmbH, Arkema SA, Avery Dennison Corp., Custom Building Products, DAP Global Inc., Dow Inc., Dribond Construction Chemicals, DURA PRO, FLEXTILE LTD., Franklin International, H.B. Fuller Co., Henkel AG and Co. KGaA, Illinois Tool Works Inc., JMH International Ltd., LATICRETE International Inc., Mapei SpA, Saint Gobain Weber, Sika AG, Terraco Holdings Ltd. are a few of the key vendors in the Construction Adhesives market.

APAC will register the highest growth rate of 45% among the other regions. Therefore, the Construction Adhesives market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

US, China, India, Germany, France

  • Increased government spending on infrastructureThe rise in government spending on infrastructure is expected to drive the growth of the global construction adhesives market. The increased need for infrastructure will is the driving factor this market.
  • in turn is the driving factor this market.
  • increase the demand for construction adhesives. Multiple government infrastructure projects are planned in various countries during 2021-2023. Many of them are large-scale projects in terms of investments. Countries give high importance to infrastructure development because infrastructure spending is directly proportional to economic growth. This is because rapid economic growth provides jobs and delivers enhanced services is the driving factor this market.
  • such as energy is the driving factor this market.
  • housing is the driving factor this market.
  • and clean water supply. The presence of a strong infrastructure in a country encourages multinational companies (MNCs) to make heavy investments and set up their establishments. Apart from the overall development of the whole country is the driving factor this market.
  • the presence of well-established infrastructure also raises the living standards and human development index of a country. Well-developed infrastructure helps in meeting various demands created by the growth of the population and the increasing spending power of citizens.APAC has seen the biggest growth in infrastructure spending between 2019 and 2021 is the driving factor this market.
  • with a sharp growth in 2022. Despite this growth is the driving factor this market.
  • countries in the region are expected to invest more to match countries in Europe and North America. Infrastructure development projects in Asia are mostly executed by public sector organizations and respective government agencies. With multiple infrastructure development projects yet to be taken up is the driving factor this market.
  • Asia can be expected to witness strong investment in these areas is the driving factor this market.
  • especially in the transportation segment is the driving factor this market.
  • which includes the construction of new highways is the driving factor this market.
  • seaports is the driving factor this market.
  • and airports. Countries in Southeast Asia is the driving factor this market.
  • such as Indonesia and the Philippines is the driving factor this market.
  • are likely to make heavy investments in road and highway projects is the driving factor this market.
  • which will require substantial investments. Most of these projects will be undertaken on the basis of the Public-Private Partnership (PPP) model. This will ensure that investments pour in from private sector companies also.Governments in India is the driving factor this market.
  • Indonesia is the driving factor this market.
  • and Thailand are taking initiatives to encourage the construction industry in their respective countries is the driving factor this market.
  • which will is the driving factor this market.
  • in turn is the driving factor this market.
  • improve their economic conditions. For example is the driving factor this market.
  • in India is the driving factor this market.
  • the Smart Cities Mission is the driving factor this market.
  • the Make in India is the driving factor this market.
  • and Housing for All initiatives are undertaken by the Indian government is the driving factor this market.
  • which will remain a huge driver for the construction market in the country. The government launched the Housing for All scheme in 2015 is the driving factor this market.
  • a program that aims at building houses for the urban poor. Other initiatives undertaken by the Indian government will help increase the number of construction projects and develop affordable housing in India. Also is the driving factor this market.
  • the policies implemented by the Indian government will ensure quicker approvals for construction projects. The flow of foreign direct investment (FDI) will have a positive impact on the real estate and construction industries. The introduction and implementation of the goods and service tax (GST) will also ease tax-related complexities in the construction industry. These initiatives will help in improving the construction industry in India is the driving factor this market.
  • which will increase the demand for construction adhesives.In Indonesia is the driving factor this market.
  • an emerging economy in APAC is the driving factor this market.
  • construction activities contribute to 10% of its GDP. The government has announced infrastructure spending estimated at billions of dollars between 2021 and 2023 in the country. In the housing sector is the driving factor this market.
  • the country lacks infrastructure facilities with a shortage of millions of residential homes. In Thailand is the driving factor this market.
  • the government has infrastructural projects in the pipeline until 2025. These projects focus on improving the physical and digital connectivity in the country. In 2021 PTT is the driving factor this market.
  • Thailand's state-owned oil company is the driving factor this market.
  • planned to invest $28.3 billion over the next five years across all its businesses as it concentrates on boosting the country's LNG and natural gas industries. The 867-km rail link connecting Bangkok and Laos is one of the highlights of the infrastructure projects is the driving factor this market.
  • which is expected to be extended to China. In addition is the driving factor this market.
  • Thailand is planning to build two smart cities in Phuket and Chiang Mai.In the Middle East is the driving factor this market.
  • countries such as Qatar and the UAE are planning to expand their construction industry and infrastructure. This will result in the construction of more buildings and housing units. The expansion of automotive is the driving factor this market.
  • industrial machinery is the driving factor this market.
  • and food production facilities is mainly driven by the need to cater to the increasing demand from growing markets in the Gulf Cooperation Council (GCC) countries is the driving factor this market.
  • other countries in the Middle East is the driving factor this market.
  • and Africa. Similarly is the driving factor this market.
  • Qatar plans to improve its roadways infrastructure. In Europe is the driving factor this market.
  • the construction adhesives market looks promising for growth is the driving factor this market.
  • particularly in central and eastern Europe is the driving factor this market.
  • as these nations are experiencing a recovery that is heading toward growth. Poland is expected to make heavy investments in the construction industry during the forecast period along with other central and eastern European countries. These developments will drive heavy investments in the construction industry is the driving factor this market.
  • which is expected to increase the demand for construction adhesives globally. is the driving factor this market.

The Construction Adhesives market vendors should focus on grabbing business opportunities from the Residential segment as it accounted for the largest market share in the base year.