ASIA-PACIFIC CONSTRUCTION ADHESIVES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

The market for construction adhesives and sealants in the Asia-Pacific region is anticipated to grow at a CAGR of 7.07%. The most popular adhesives and sealants over the historical period, 2017–2021, and base year, 2021, are those based on polyurethane and acrylic resin. Due to their capacity to form strong bindings and be utilised as structural adhesives, they are anticipated to be the most popular resin types during the forecast period. In Asia-Pacific, 49% of acrylic-based construction adhesives were produced using water-borne technology in 2021, whereas sealant technology was mostly used to produce polyurethane-based goods.

Global demand for building adhesives and sealants was dominated by China. The demand coming from China in 2021 was 1.2 billion kilogrammes, and by 2028, it is anticipated to increase by 6.9% CAGR to 1.8 billion kilogrammes. More than 50% of the overall demand created by the Chinese construction sector is anticipated to be satisfied by polyurethane, acrylic, and silicon resin-based adhesives and sealants products. Japan, the world's second-largest consumer of construction adhesives with 12% of the market in 2021, is anticipated to grow at a CAGR of roughly 2.7% from 2022 to 2028. Skyscraper and high-rise construction projects are growing in quantity in Japan, which has been the main driver of the demand for adhesives.

Major Players: 3M, Aica Kogyo Co..Ltd., Arkema Group, Henkel AG & Co. KGaA and Sika AG 

Read The Full Market Report Here


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