The cement adhesive market has also seen rapid growth, expected to increase from $1.35 billion in 2023 to $1.49 billion in 2024 at a CAGR of 10.4%. This growth is driven by demand for residential buildings, expansion in construction, popularity of DIY projects, demand for cement tile adhesives, and population growth in urban areas.
The cement adhesive market is projected to grow to $2.22 billion by 2028, at a CAGR of 10.5%. This growth is supported by the adoption of alternative fuels, environmental regulations, increased R&D, and the shift from traditional cement mortars to adhesives. Trends include innovations in polymer-modified cement adhesives, epoxy-based cement adhesives, heat-resistant adhesives, and nano-technology-based adhesives.
Major Driver In The Cement Adhesive Market
The cement adhesive market is expected to benefit from rising demand for residential buildings, attributed to urbanization and population growth. In March 2024, there were 30,992 new private house dwellings in Australia, a 3.7% increase from December 2023 and a 14.6% increase since March 2023. Cement adhesives play a crucial role in construction, providing strong and moisture-resistant connections essential for structural integrity, thereby driving market growth. The global cement adhesive market is projected to reach $X billion in 2024 and grow to $Y billion by 2028 as construction activities continue to increase worldwide.
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Cement Adhesive Market Competitive Landscape
DuPont de Nemours Inc., Arkema S.A., Sika AG, UltraTech Cement, Asian Paints Ltd., Ambuja Cements, H.B. Fuller Company, Pidilite Industries Ltd., Birla Corporation Ltd., J.K. Cement Ltd., Tremco, Ashland Inc., Laticrete International, ACC Limited, Myk Laticrete Inc., Chembond Chemicals Ltd., Polyguard Products Inc., Kerakoll SpA, Polyfix Construction Chemicals, ITW Red Head
Key Cement Adhesive Market Trend
In the cement adhesive market, companies are developing concrete filler and anchoring adhesives to improve bonding strength and durability. In April 2023, DAP Products launched concrete filler and anchoring adhesive products for construction and repair tasks. These products are designed to ensure long-lasting stability, fill cracks, and anchor bolts, providing high performance for both residential and industrial concrete applications.
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Global Cement Adhesive Market Segmentation
The cement adhesive market covered in this report is segmented –
1) By Type: Epoxy, Ceramic Tile, Acrylic, Resin, Cementitious, Vinyl, Other Types
2) By Application: Roofing Adhesives, Flooring Adhesives, Insulating Adhesives, Tile Installation Adhesives, Wall Bonding Adhesives
3) By End-User: Construction, Packaging, Automotive, Electronics, Pigment, Other End-Users
By Geography:The regions covered in the cement adhesive marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the cement adhesive market in 2023.
The Cement Adhesive Global Market Report 2024 furnishes information about the global cement adhesive market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
