MarkNtel Advisors recently published a research report stating that the GCC Construction Adhesive Market size is likely to record a CAGR of about 5.5% during the forecast period of 2024-30. The GCC Construction Adhesive Market is significantly fueled by the rapid development of tourism & infrastructural industries in the region. The Saudi Government’s Vision 2030 initiative is expected to significantly boost the market, particularly through extensive development and construction activities.
Moreover, the GCC countries are emphasizing the development of infrastructure to entice foreign investments as well as to boost the tourism sector. Additionally, the rapid urbanization, increasing population, and swift infrastructural development are leading to the growth of the GCC Construction Adhesive Market.
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The report further states that the influx of tourists has also contributed significantly to boosting the GCC Construction Adhesive Market since the number of tourists is directly proportional to the number of hotels, resorts, and restaurants. All these aspects are driving the GCC Construction Adhesive Market and are expected to boost the market in the forecast years (2024-30) as well.
Major Companies Leading the GCC Construction Adhesive Market
Companies holding a substantial share and having a strong market position include Sika GCC, NAPCO Middle East, Akrema Middle East DMCC, Dow Inc., Jowat Adhesives, Pidilite MEA Chemicals LLC, H.B Fuller Middle East, Huntsman International LLC, MAPEI S.p.A., Tackmix Adhesives, Dubai Adhesive, and others.
Reviewing the GCC Construction Adhesive Market Segmentation
- By Resin Type (Acrylic Adhesives, Epoxy Adhesives, Polyurethane, Polyvinyl Acetate (PVA), Silicon Adhesives, Cyanoacrylate Adhesives, and Others (UV Curing Adhesives, Plastisol Adhesives, MS Polymers, etc.))
- By Technology (Water-based, Solvent-based, Epoxy-based, Hot-melt, and Reactive)
- By Application (Resilient Flooring, Roofing Systems, Manufactured Housing, Woodworking- Panels, Concrete, Countertop & Drywall Lamination, and Others (HVAC systems, Drywall Lamination, etc.))
- By End User (Residential, Commercial, and Industrial)
- By Country (The UAE, Saudi Arabia, Kuwait, Qatar, Oman, and Bahrain)
Acrylic Adhesives hold a solid stance in the GCC Construction Adhesive Industry. The several benefits possessed by acrylic adhesives such as strong resistance to diversified climatic conditions, oxidation, and UV rays are the major factors contributing to its colossal demand in the Construction Adhesive Market. Moreover, acrylic adhesives are extremely easy to handle given their effortless removal and reinstallation in case of any error. The acrylic adhesives are notably versatile and possess several properties making them appropriate to be adopted across several industrial segments within the GCC region. Acrylic adhesives are known to be effective and trustworthy solutions, leading to their huge demand further boosting the overall GCC Construction Adhesive Market.
The largest share of the GCC Construction Adhesive Market is retained by Saudi Arabia. Some of the major factors contributing to this include the active encouragement by the Saudi Arabian government towards private foreign investors to set up their business units by providing them duty-free access & incentives. Moreover, the expansion of construction activities, infrastructure, and development under the Saudi Vision 2030 has boosted the demand for construction adhesives as it necessitates vital bonding, sealing, and insulation applications in commercial buildings & facilities. Additionally, the progression in adhesive technology, including the introduction of hybrid adhesives & moisture-curing adhesives leads to durability and improved performance of the construction adhesives, further adding to the growth of the GCC Construction Adhesive Market.
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