Europe Construction Adhesives & Sealants Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Europe Construction Adhesives & Sealants Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Europe Construction Adhesives & Sealants Market is projected to register a CAGR of 5.71%

Key Highlights

• Largest Segment by Technology - Sealants : In Europe, sealants hold the largest market share due to their wide applications in the building and construction industry, including joint sealing, insulation, curtain wall, façade, and glazing.
• Largest Segment by Resin - Acrylic : Acrylic resins hold the largest market share owing to their-ranging wide applications, including joining, sealing, and filling cracks in the building and construction industry, specifically for interior and exterior applications.
• Largest Segment by Country - Germany : Germany holds the largest country-wise share of the market, driven mainly by the demand for residential and commercial construction in the country.
• Fastest-growing Segment by Country - Germany : Germany is likely to witness the fastest growth in the market over the forecast period, owing to the demand for new and renovation construction projects in the country.

Key Market TrendsAcrylic is the largest segment by Resin.

• The construction industry requires adhesives and sealants for purposes such as carpet layering, flooring, timber, prefabricated panels joining, wall covering, weather-sealing, and roofing. The construction industry is expected to record a 6.1% CAGR in 2022-2024 in Western Europe and a 6.4% CAGR in 2022-2024 in Central and Eastern Europe, per the EURO CONSTRUCT report. This is expected to increase demand for construction adhesives and sealants in the forecast period.
• The European Commission has framed policies to transit the residential infrastructure to energy-efficient and digital resource performance with frameworks such as the Energy Efficiency Directive and Energy Performance of Buildings. These initiatives will require the renovation of existing buildings, leading to an increase in demand for adhesives and sealants required for construction in the forecast period 2022-2028.
• The fasteners used in the construction industry for different applications, such as roofing, flooring, and window fitting, are prone to failures that can be prevented with good strength holding construction adhesives and sealants. With the development of efficient resource planning in construction, the demand for construction adhesives and sealants is expected to increase in the period 2022-2028.
• Acrylic resin accounted for the maximum share of the European construction adhesives and sealants market value share as of 2021 because of its wide usage as an adhesive for mechanical joining and with different substrates and as a sealant for materials prone to shrinkage. These applications make them widely used in the construction industry, and their demand is expected to grow over the forecast period.

Germany is the largest segment by Country.

• In 2020, the overall decline in construction output by 4.4% was due to the COVID-19 pandemic spreading across Europe, which led to nationwide lockdowns, supply chain disruptions, mandatory social distancing regulations, etc. These factors led to declining demand for adhesives and sealants required for construction in 2020. The decline was maximum for the Rest of Europe regional segment because of the huge recessions in countries such as Slovakia, which recorded a 16.8% Y-o-Y decline in its construction output.
• The demand for construction adhesives and sealants increased tremendously in 2021 because of the EU Commission's recovery plan for an overall economic slowdown due to COVID-19 in 2020 such as Next Generation EU, in which the maximum fund allocation was done for the construction sector to make European buildings environmentally benign with decreased wastage of resources. The overall growth in demand for construction adhesives and sealants was highest in 2021 for the Rest of Europe segment because of Nordic countries, such as Denmark, which registered a growth of 17.8% Y-o-Y in construction output.
• The value share in the European construction adhesives and sealants market is highest for the Rest of Europe segment, which accounts for nearly half of the share because the overall construction output from countries such as Ireland is expected to grow by 15.1%, followed by Spain with 14.3%, and Slovakia with 13.5%, as published in a report by EURO CONSTRUCT in 2021.

Competitive Landscape

The Europe Construction Adhesives & Sealants Market is moderately consolidated, with the top five companies occupying 58.94%. The major players in this market are Arkema Group, Henkel AG & Co. KGaA, MAPEI S.p.A., Sika AG and Soudal Holding N.V. (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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