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Global Construction Adhesive Market Size to grow by US$ 16.45 Bn in 2030

The global construction adhesive market is projected to grow USD 16.45 Billion in 2030, at a CAGR of 5.2%. The increasing funding for infrastructure improvements and the resulting growth of linked industries like steel and cement will drive up demand for construction joint adhesives even further. Over alternative binding methods, using construction adhesives has some benefits, including the ability to bind various materials, effective stress distribution throughout the joint, economic effectiveness, and better design flexibility.

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Due to an increase in end-use activities like the development and expansion of new manufacturing facilities, car assembly plants, multi-story towers, oil pipelines, and water treatment facilities, as well as the expansion of logistic terminals, the demand for adhesives has increased in nations like Brazil, Qatar, Colombia, and the UAE. It is projected that a focus on sustainable infrastructure and construction projects would help the industry grow. By promoting carbon reduction goals, governments can stimulate the economy. These incentives could take the shape of policy modifications and direct public funding. Businesses foresee a desire for environmentally friendly structures and neighborhoods that support healthy lifestyles, which is expected to fuel the demand for construction adhesives.


Another important aspect that will probably provide the building and construction sector and related materials a boost in the long run is the adoption of emerging technologies and digitization. When working on projects with digital models, contractors are likely to use remote cooperation at different phases. Adhesive and other building material distributors are emphasizing little physical contact, particularly with e-commerce platforms where sales personnel may manage clients and orders using digital tools.


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The primary drivers of the market growth rate include variables like rising construction adhesive usage in commercial and residential construction as well as rising adhesive demand in old-building renovation and architectural design. Further paving the way for market expansion will be rising demand for low-VOC, environmentally friendly, and sustainable adhesives as well as rising government spending on infrastructure construction. However, the construction adhesive industry cannot expand because of the fluctuating cost of raw materials. According to estimates, the industry would have a lot of potential due to expanding technological and artificial breakthroughs as well as rising government initiatives for infrastructure development.


The acrylic segment is expected to dominate the market share of global construction adhesive market owing to primarily to their remarkable bonding capabilities, strong impact resistance, and superior water resistance, acrylic adhesives are becoming more and more popular in the construction industry. The water-based segment is expected to dominate the market share of global construction adhesive market owing to greater moisture resistance than products made with other adhesives, which is anticipated to aid in the segment's expansion. The residential segment is expected to dominate the market share of global construction adhesive market owing to incentives for first-time homebuyers will benefit the global residential construction industry.


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Asia Pacific region is expected to dominate the market share of global construction adhesive market owing to expansion in construction sector, and the area is developing a sophisticated contemporary infrastructure. During the anticipated period, the construction adhesives and sealants market is anticipated to rise due to the expanding construction sector in the rising economies of Asia-Pacific, such as India and other Southeast Asian nations.


REGIONAL INSIGHTS


The global construction adhesive market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.


Asia Pacific region is expected to dominate the market share of global construction adhesive market owing to expansion in construction sector, and the area is developing a sophisticated contemporary infrastructure. During the anticipated period, the construction adhesives and sealants market is anticipated to rise due to the expanding construction sector in the rising economies of Asia-Pacific, such as India and other Southeast Asian nations. The Indian construction sector, according to the Government of India and the India Brand Equity Foundation (IBEF). For instance, the Prime Minister Awas Yojana's two new subsidy programmes are said to have been planned out in detail by the Indian government (PMAY). By 2022, the government hopes to have housing available to everyone thanks to two new subsidy slabs. These programs will be applicable to loans with a 20-year term as opposed to the present cap of 15 years.


However, North America region is expected to witness highest growth rate during the forecast period of global construction adhesive market due to the strong economic expansion, an increase in new households, and cheap mortgage rates are anticipated to be the main drivers of residential construction growth. However, it is anticipated that there will be a decrease in demand for multi-family housing during the projected period, which could have a moderate impact on residential building.


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