Construction Adhesive Market Size, Share & Trends Analysis Report By Resin Type (Acrylic, Polyurethanes, Epoxy), By Technology, By Application, By Region, And Segment Forecasts, 2022 - 2030

Construction Adhesive Market Growth & Trends

The global construction adhesive market size is expected to reach USD 15.34 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to advance at a revenue-based CAGR of 5.3% from 2022 to 2030. The emergence of COVID-19 affected the construction industry around the world in 2020, and its impact continued in 2021 and 2022 as well in certain countries.

Construction represents close to a 13% share of the global GDP. Thus, a short impact on the sector affects the materials demand, thereby reducing the growth of the market. Most of the construction sites during the first half of 2020 faced numerous challenges associated with operations and supply chains. However, the market started recovering in 2021. Construction spending on infrastructure projects is likely to rise in 2022, on account of the passage of public and private investments.

Focus on sustainable construction and infrastructure projects is anticipated to assist the market growth during the coming years. Governments may provide stimulation to the economy by encouraging carbon reduction targets. These incentives might come in the form of direct public funds and policy changes. Companies expect demand for sustainable buildings and communities that promote healthier lifestyles, which is anticipated to drive the demand for construction adhesives.

The adoption of digitization and emerging technologies is another key factor, which is likely to provide a boost to the building & construction sector and associated materials over the long term. Contractors are likely to use remote collaboration at various stages of projects using digital models. Distributors of adhesives and other building materials are focusing on minimal physical interactions, especially with e-commerce sites for which sales teams can handle customers and orders with digital tools.

Investments in construction and infrastructure projects are anticipated to drive market growth in the long run. For instance, the Indian government has plans to double its infrastructure investments in sectors such as communication, commercial infrastructure, energy, and water & sanitation over the next five years, as of 2021. Also, as per the National Infrastructure Pipeline, there are over 6,800 identified projects worth USD 15 million in the country. Projects such as airport development in smart cities and Pradhan Mantri Sadak Yojna Project are likely to offer new opportunities for market players.

Construction Adhesive Market Report Highlights

• Based on resin type, in terms of both revenue and volume, acrylic was the largest application segment in 2021. It accounted for a revenue share of 45.6% in 2021. Advantages such as flexibility to join various materials and strong structural adhesive properties are likely to promote the growth of the segment
• In terms of revenue, water-based adhesives are anticipated to expand at a CAGR of 5.5% from 2022 to 2030. Low volatile organic compounds and less odor are the benefits of water-based construction adhesives, which are the key contributing factors to the segment growth
• Commercial emerged as the largest application segment in terms of volume in 2021. Demand for offices, restaurants, and other small & medium businesses is likely to benefit the segment growth
• Asia Pacific is expected to witness the fastest growth during the forecast period. Government funding for commercial projects in India and China is likely to assist the adhesive demand in the construction sector