The construction adhesive tape market is evaluated at US$762.665 million for the year 2020, growing at a CAGR of 4.91% to reach a market size of US$1,066.730 million by the year 2027.
Adhesives are synthetic compounds that are used to adhere to things ranging from common household items to construction materials. These are the materials that are utilized to firmly hold two surfaces together for an extended period of time. It is a carefully manufactured mixture of synthetic rubber and resins, inorganic fillers, colouring, and preservation components contained in a specially selected combination of organic solvents meant to be compatible with and attach strongly to the majority of conventional building materials. Plywood, particleboard, hardboard, ornamental laminates, metals, concrete, and other materials are all bonded with construction glue.
The market's expansion can be attributed to adhesives' substantial benefits over alternative bonding materials. Adhesives offer bonded surfaces flexibility, distribute stress evenly across the joint, and are particularly cost-effective. Residential building construction is projected to increase, boosting industry growth. Permanent houses are being developed on a large scale by both government and private builders to meet the growing need for housing, which necessitates adhesive for flooring, exterior insulation, and panel installation, among other things. As a result, the marketplace is likely to develop. Furthermore, the provision of a variety of adhesives tailored to the needs of the construction process is expected to boost market growth. Environmental rules relating to emissions, on the other hand, are likely to limit market expansion.
The market has been segmented by application into tile installation, wallpaper, carpet laying, and others, with the tile installation segment expected to hold a significant share in the global construction adhesives market over the forecast period due to rising residential construction, where tiles are widely used for flooring.
The residential segment has dominated the end-user industry in the construction adhesive market, attributable to both new home construction and strong residential remodelling and repair activities. In the United States, for example, residential development is predicted to increase in the next few years. Furthermore, remodelling and repair operations in the country have been continuously expanding, owing to rising buyer investments in house upgrades, mostly as a result of rising new home prices. Continuous investments in the residential sector are projected to boost the growth of the construction adhesives market.
Due to high demand from the building sector in India, China, and other Southeast Asian countries, the Asia-Pacific region accounted for the largest market for construction adhesives. In terms of construction investment, the development of 100 smart cities in nations like India and government programs like Housing for All by 2022 is likely to exceed both the United States and Europe during the next five years. The Middle East area also features one of the world's fastest-growing construction markets, with Saudi Arabia and the United Arab Emirates leading the way. The construction adhesives market in the region is likely to be driven by this favourable outlook through 2027.
The building industry has been seriously impacted worldwide, as most construction activities have come to a standstill with the outbreak of the epidemic. Aside from that, due to the suspension in operations, other orders for building materials, including adhesives, were cancelled. Furthermore, due to trade and transportation restrictions between countries, the upstream supply chain of construction adhesives was damaged, since companies had difficulty obtaining raw materials such as glue and other chemicals from other companies.
Henkel Adhesives, located in Germany, committed roughly EUR 500 million to its latest manufacturing unit in Kurkumbh, near Pune, in February 2020. This glue can be used in both automotive and manufacturing projects.
|Market size value in 2020||US$762.665 million|
|Market size value in 2027||US$1,066.730 million|
|Growth Rate||CAGR of 4.91% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Application, Technology, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||3M, Arkema Group, Ashland Inc., Avery Dennison Corp., DowDuPont, Wacker Chemie AG, Franklin International, Henkel, Permabond, The Gorilla Glue Company, Ardex, MAPEI, Others|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global construction adhesive tape market?
A1. Construction Adhesive Tape Market was valued at US$762.665 million in the year 2020.
Q2. What will be the construction adhesive tape market size by 2027?
A2. The global construction adhesive tape market is projected to reach a market size of US$1,066.730 million by 2027.
Q3. What are the growth prospects for the construction adhesive tape market?
A3. The construction adhesive tape market is projected to grow at a CAGR of 4.91% over the six years.
Q4. What factors are anticipated to drive the construction adhesive tape market growth?
A4. The construction adhesive tape market growth can be attributed to adhesives' substantial benefits over alternative bonding materials.
Q5. Which region holds the maximum market share in the construction adhesive tape market?
A5. The Asia Pacific region is expected to hold the largest share in the construction adhesive tape market due to high demand from the building sector in India, China, and other Southeast Asian countries.
Avery Dennison Corp.
Wacker Chemie AG
The Gorilla Glue Company
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