Rockville, MD, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Global gap filler adhesive demand grew at a healthy rate in 2018, as broader gains in the construction sector induced the much-needed momentum in the market. The spurt in global demand has led to heightened activity in gap filler adhesives market, with leading players focusing on following modern construction trends to meet the evolving demand. Fact.MR’s latest study analyzes the gap filler adhesives market, bringing key insights to the fore.
According to the study, recovery in global housing markets, coupled with capital injection in infrastructure development are among the key macro factors driving demand for gap filler adhesives. Gains in the US and European construction are likely to be an important factor for the long-term prospects of the gap filler adhesives market. Recent trends have been encouraging -- The U.S. Department of Housing and Urban Development and the U.S. Census Bureau jointly announced in its new residential construction statistics for May 2018 that the number of privately‐owned housing starts authorized in May 2017 increased by over 20.3% by the end of May 2018. In Europe, the building construction increased by 1.5% and civil engineering rate rose by 2.7% during the period October 2017-October 2018.
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The Fact.MR study opines that innovation remains a key differentiating strategy for gap filler adhesive manufacturers. Development of products that can reduce air leaks and improve energy efficiency is emerging as a key focus area for manufacturers.
Growing Production and Consumption Fuel Asia Pacific One Component Foam Market
One component foam market in emerging economies in the Asia Pacific region is gaining momentum with the increasing production and consumption of polyurethane foam in China and India. China is one of the leading producers of polyurethane, which translates into stable prices and consistent supply of raw materials for one component foam manufacturers in the region. This is enabling players in the one component foam market in the Asia Pacific region to introduce competitive prices and gain an edge in the upcoming years.
The ever-growing trend of industrialization in developing countries in the region, such as China and India, is further expanding the range of applications for one component foam products in the region. Thereby, leading players in the one component foam market are introducing a variety of features of their products to suit specific requirements from end-users in the region.
In addition, the Chinese government has imposed stringent regulations to limit harmful emissions of polyurethane spray foams, which is coaxing market players to turn to environmentally friendly alternatives of one component polyurethane foam. Manufacturers in the one component foam market in the Asia Pacific region are shifting their focus on introducing energy-efficient and more sustainable products to be in-line with the dynamic demands of environment conscious end-users.
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One Component Foam as Sealants and Adhesives to Find Maximum Applications Across End-user Industries
Over 75% of the one component foam products available on the market are used as sealants and adhesives in a wide range of end-user industries, which is one of the leading trends in the one component foam market. Owing to the simplicity and ease of use of one component foam sealants or one component foam adhesives, its demand is increasing across various industrial verticals. Leading manufacturers in the one component foam market are adopting advanced manufacturing strategies to further improve cost-efficiency, safety, and eco-friendly characteristics of one component foam sealants and adhesives.
However, a majority of end-users are discovering extraordinary features of one component foam products when they are used in insulating and filling applications. With the increasing growth of the end-user industries, including the construction industry, one component foam products are likely to witness maximum demand on account of its burgeoning use in insulating and filling applications.
Fact.MR recently published an insightful market research report on one component foam market on analyzing various trends and other microeconomic factors that can influence growth prospects of the market in the assessment period 2018-2027. Based on the thorough analysis, the study predicts that the one component foam market will grow at a healthy 5.2% CAGR during the forecast period.
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