The construction adhesives market is projected to register huge growth and likely to attain USD 10.6 billion by 2020. This is as a result of rising usage of construction adhesives in commercial, housing and infrastructure applications. Also, rising construction activities globally are predicted to drive demand for the market over the coming years.
The propelling factors for the construction adhesives market are growing surge in demand for adhesives in consumer industries and escalating demand for eco-friendly adhesives. Also, governmental spendings to improve infrastructure are anticipated to boost the market. However, fluctuations in the prices of raw materials and unstable economic conditions are restraining the market.
The construction adhesives market can be categorized into four segments, including types, technologies, applications and geographies. This market, on the basis of types, includes polyurethanes, epoxy, polyvinyl acetate and acrylic adhesives.
The construction adhesives market, on the basis of technologies, can be split into solvent borne technology, water borne technology and reactive. The applications market can be divided into offsite, onsite and civil engineering.
Geographically, the construction adhesives market can be classified into Asia Pacific, North America, Europe and ROW (rest of the world). Asia Pacific dominated the market in 2013. This was on account of rapid augmentation in construction and infrastructure investments. China leads the market. This is as a result of growing demand for construction adhesives from the sector of infrastructure.
The economies of South Africa, Argentina and Brazil are observing considerable growth. This is owing to rising construction activities over the recent past. Europe is fully matured and has shown sluggish growth.
Information Source: Radiant Insights