Chicago, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The Infrastructure Adhesives & Sealants Market size was USD 6.8 Billion in 2021 and is projected to grow at a CAGR of 6.2%, according to a new report by MarketsandMarkets™. Infrastructure Adhesives & Sealants Market by Product Type (Adhesives, Sealants), Job Type (New Construction, Rehabilitation), Application (Bonding, Sealing), End-Use Industry (Railways, Highways & Motorways), and Region - Global Forecast to 2027. Growing demand for infrastructure adhesives & sealants due to the increasing demand for adhesives & sealants from the building & construction industry.
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List of Key Players:
The key players operating in the market are Henkel AG (Germany), H.B. Fuller (US), Sika AG (Switzerland), Arkema (Bostik SA) (France), and 3M (US).
Asia Pacific is the largest infrastructure adhesives & sealants market in the forecast period
The Asia Pacific has emerged as one of the leading producers as well as consumers of infrastructure adhesives & sealants due to the increasing domestic demand, rising income levels, and easy access to resources. The economic growth in the Asia Pacific region, particularly in the emerging markets such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is contributing to the increase in the number of infrastructure projects, which is expected to drive the demand for infrastructure adhesives & sealants in the building & construction industry.
Infrastructure Adhesives & Sealants Market Dynamics:
- Driver: High demand for adhesives & sealants from building & construction industry
- Restraint: Environmental regulations in North America and Europe
- Opportunity: Rising requirement for non-hazardous and sustainable adhesives
- Challenge: Shifting rules and changing standards
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Driver: High demand for adhesives & sealants from building & construction industry
The growing population and urbanization are driving the construction segment in developing countries such as China, India, Indonesia, Vietnam, Brazil, and Mexico. There is an increasing demand for permanent infrastructure in these countries, which, in turn, is driving the demand for adhesives & sealants. The demand for adhesives for construction sector is increasing in the emerging countries owing to the new infrastructure development. The increasing focus of governments on infrastructure development in Brazil and Argentina and growing demand from India, China, and Vietnam owing to massive infrastructural projects, such as high-speed rail, road works, water transportation, airport development, and nuclear projects, are propelling the demand of infrastructure adhesives.
Restraint: Environmental regulations in North America and Europe
Europe and North America are strictly regulated by environmental laws regarding the production of chemical and Petro-based products. Agencies such as the Epoxy Resin Committee (ERC) and the European Commission (EC) govern the manufacturing of solvent-based products in these regions. This is affecting the production capacities of manufacturers in Europe and North America. The stringent environmental regulations are compelling manufacturers to focus on producing eco-friendly adhesives.
Opportunity: Rising requirement for non-hazardous and sustainable adhesives
The stringent regulations by the USEPA (the United States Environmental Protection Association), Europe’s Registration, Evaluation, Authorisation and Restrictions of Chemicals (REACH), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities have compelled adhesive & sealant manufacturers to make eco-friendly products with no- or low-VOC levels. The shift toward more sustainable products has provided significant growth opportunities for manufacturers. Leading adhesives & sealants company, Henkel, offers products such as H4500, H4710, H4720, and H3151, which are solvent-free and comply with environmental regulations. There is a growing demand for environmentally friendly or green buildings, which gives an opportunity for the development of green and sustainable adhesive solutions made from renewable, recycled, remanufactured, or biodegradable materials.
Challenge: Shifting rules and changing standards
The adhesives market undergoes frequent changes in terms of standards and rules. The Construction Products Regulation (CPR) implemented new regulations such as regulation (EU) No 305/2011 for the marketing of construction products in the EU. With the new regulations, manufacturers must bear the additional burden, in terms of labeling and paperwork, and additional external test costs to demonstrate compliance. Additional substance alerts focusing on biocides and waste packaging occur on a regular basis, leading to changes in regulatory standards. The adhesives manufacturers must abide by the rules and changing standards to commercialize their products. This poses a challenge for manufacturers.
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