The ceramic adhesives market is projected to grow from USD 6.12 Billion in 2017 to USD 7.84 Billion by 2022, at a CAGR of 5.1% from 2017 to 2022.
The growth of the ceramic adhesives market can be attributed to the growing number of building & construction activities in emerging economies such as India, China, Indonesia, and Brazil, which has led to increased demand for ceramic adhesives from the building & construction industry.
Among applications, the building & construction segment is expected to lead the ceramic adhesives market in 2017, in terms of volume. The rising demand for new and innovative ceramic adhesives, which are eco-friendly and have a low content of Volatile Organic Compounds (VOCs), and increasing number of R&D activities for their development have led companies to adopt various organic and inorganic growth strategies to increase their shares in the ceramic adhesives market.
Based on chemistry type, the cement-based segment is expected to lead the ceramic adhesives market, in terms of both volume and value, during the forecast period. The epoxy segment of the ceramic adhesives market is also expected to grow at a significant rate, in terms of value, during the forecast period. Epoxy ceramic adhesives are widely used in a number of end-use industries, especially in niche applications, wherein excellent bonding strength is required.
Moreover, these adhesives also offer excellent strength and versatility. Epoxy ceramic adhesives are also used in several applications such as consumer Do-It-Yourself (DIY), owing to their versatility. However, consumption of these adhesives is limited to a few specific applications due to their high prices.
The Asia Pacific ceramic adhesives market is projected to grow at the highest rate during the forecast, in terms of both, value as well as volume. Manufacturers of ceramic adhesives are targeting the Asia Pacific region as it has the largest construction industry in the world, which accounts for a share of 40% of the global construction spending.
The China ceramic adhesives market is projected to witness significant growth during the forecast period due to the continuous shift of the ceramic adhesives production facilities of various companies to the country. Countries such as India, Thailand, and Indonesia are witnessing increased investments in their building & construction industry, which is likely to influence the growth of the ceramic adhesives market in these countries.
Increased Demand for Ceramic Adhesives in Residential Housing
Rising Demand From Developing Countries
Stringent Environmental Regulations in North America and Europe
Growing Demand for Low Voc, Green, and Sustainable Ceramic Adhesives
Economic Growth and Rising Government Expenditure on Infrastructure Development in Emerging Countries