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U.S. Markets for Chemical Anchors and General-Purpose Adhesives in Construction
Frost & Sullivan, Aug 2005
Raw Material Prices and Volatile Organic Compounds (VOC) Regulations Restructure the Adhesives Market
Participants in the adhesives market are forced to navigate new and changing construction adhesive landscapes while maintaining revenues and cultivating growth. The reason for such harsh conditions in this market is the increasing cost of raw materials. Many of the raw materials used by resin manufacturers are derived from oil, which intimately ties the price of oil to the price of resins. With the rise in oil prices due to various factors, resins have become more expensive, thus narrowing the profit margins of the market participants. Another factor contributing to the unfavorable scenario is the increasing demand for VOC-compliant products that makes the adhesive manufacturers overly dependent on waning technologies. The “sick building syndrome” wherein occupants of a building report respiratory and other health problems that seem to be linked to the time spent in the building, highlights the need for stringent VOC regulations.
This Frost & Sullivan research service examines the U.S. markets for chemical anchors and general-purpose construction adhesives, including their sub segments by chemical makeup. The study also discusses prevailing industry challenges and gives strategic recommendations to overcome them.
Blending of Consumer Bases Paves the Way to Success
The increasing rates at which home consumers are participating in the professional construction adhesives market has become integral to its future, says the analyst of this study. This new and growing consumer base will be directing future adhesives research and products.
Moreover, commercial construction is the focal point of this market because it uses both chemical anchors and general-purpose construction adhesives. Despite the higher rates of residential construction, commercial construction is more dominant in the United States in relation to chemical anchors because of the prevalent building methods. Commercial buildings are more likely to be constructed of concrete than residential buildings and concrete structures use a significantly higher amount of chemical anchors than wood-frame structures.
Product Innovations and Brand Recognition Present Promising Future for these Markets
Product innovations can brighten the future of the construction adhesives market considerably. These innovations are likely to come in two forms - technology and packaging. Technology innovations, in particular, will have a greater effect on the longevity of the construction adhesives market because they will improve products by reducing raw material cost and increasing availability. These innovations will also hasten the cure time for increased productivity and will be less harmful to the environment.
There is some disagreement in the construction industry to the degree to which they can rely on adhesives, notes the analyst. End users will be more comfortable using a product once they are aware that the product exists and know its advantages and limitations. Factors such as product advances minimizing commoditization, and product understanding increasing product use combined with increase in commercial and residential construction are likely to increase the markets’ growth potential.
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