Innovation Drives Adhesive Sales

Construction adhesive and sealant manufacturers worldwide focus on developing products that favour a circular economy and promote sustainability as green alternatives, says a Frost & Sullivan's analysis, ‘Sustainability and Circular Economy Transforming Global Construction Adhesives & Sealants Technologies.’ It finds the need for innovation and increasing consumer requirements are key factors driving the construction adhesive and sealant market worldwide. By 2026, the global construction adhesive and sealant market is estimated to garner a revenue of $23.7 billion from $19.32 billion in 2019, up at a compound annual growth rate of three per cent. However, economic slowdown across countries aggravated by the COVID-19 pandemic has impacted the construction activity progress, thereby restraining construction adhesives' and sealants' short- and mid-term market growth. To tap into the growth prospects from construction adhesives and sealants, market participants need to focus on developing products exclusive to automated construction processes, such as prefabricated construction; developing fast-curing products that offer superior storage stability and longer shelf life; and investing in R&D activities to develop innovative product chemistries that meet customers' and building contractors' increasingly challenging requirements.