A three-pronged approach was followed for deducing the construction adhesives market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for construction adhesives market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of construction adhesives market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The construction adhesives market was categorized into four segments, namely resin type (Acrylic, Polyurethanes, Polyvinyl Acetate, Epoxy), technology (Water-based, Solvent-based, Reactive & Others), application (Residential, Commercial, Industrial), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The construction adhesives market was segmented into resin type, technology, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The construction adhesives market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; China; India; Japan; Brazil; South Africa; Saudi Arabia.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The construction adhesives market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
H.B. Fuller Company - Established in 2000, the company has its headquarters in Saint Paul, U.S. H.B. Fuller Company is engaged in adhesives manufacturing. It operates through five segments, namely America adhesives, EIMEA, Asia Pacific, construction adhesives, and engineering adhesives. The company operates 74 manufacturing plants worldwide, out of which, 38 are in the U.S. and the remaining are in 21 other countries. It has several subsidiaries and offices across the globe.
3M - 3M was incorporated in the year of 1979 in Saint Paul, U.S. which has more than 95,000 employee base across the globe. 3M is a diversified technology company with a worldwide presence. The company operates through its business segments, namely industrial, safety and graphics, healthcare, electronics & energy, and consumer. Industrial segment offers a wide range of products including tapes, abrasives, adhesives, advanced ceramics, sealants, specialty materials, filtration products, closure system for personal hygiene products, and acoustic system products to various end-use industries such as automotive, construction, marine, aircraft, and specialty vehicles. Geographic segments of the company include United States; Asia Pacific; Europe, Middle East & Africa; and Latin America & Canada.
Sika AG - Sika AG is a Swiss company and formed in the year of 1910. It has over 25,000 employees. Sika AG is a manufacturer or supplier of specialty chemicals. The company manufactures products targeting seven markets including concrete, waterproofing, roofing, flooring, sealing & bonding, refurbishment, and industry. Under sealing & bonding, refurbishment, and industry markets, the company offers highperformance adhesives and sealants. It offers various types of adhesives and sealants under different brands for automotive, construction, consumer, and renewable energy markets. The company's revenue was divided into two markets, including construction and industry. Construction market held a revenue share of 77.2% while industry had a share of 22.8%. The company's business segments are divided into EMEA, the Americas, Asia Pacific, and Global Business.
Dow Inc. - The company was established in 1897 and headquartered in Midland, U.S. It has more than 35700 employees in their worldwide offices. Dow Inc. is a multinational chemical company based in the U.S. involved in manufacturing plastics, chemicals, and agricultural products across the world. It is headquartered in Midland, Michigan, U.S. As of 2018, the company has a worldwide presence in 180 countries and delivers a wide range of technology-based products related to special chemicals, advanced materials, agro sciences, and plastics sectors. The company offers over 6,000 products manufactured in 201 sites located in 36 countries across the globe. It operates through its various segments, namely agricultural sciences, consumer solutions, infrastructure solutions, performance materials & chemicals, and performance plastics. In addition, it offers acrylics and olefins such as polyethylene, polyolefin, ethylene, benzene, propylene, benzene, and butadiene. The company deals in sectors such as packaging, electronics, water purification, coatings, electronic & communication, oil & gas, healthcare & medical, construction, and agriculture.
Bostik (Arkema Group) - The company was established in 1889 at Massachusetts, U.S. Bostik manufactures adhesives and sealants. In February 2015, Arkema completed the acquisition of Bostik to create additional value in specialty chemicals market by leveraging the leadership position of Bostik in specialty adhesives. With the acquisition of Bostik, Arkema Group has 59 production units related to adhesives and sealants in Europe, North America, and Asia. Arkema Group operates through three business segments such as high-performance materials, industrial specialties, and coating solutions. The high-performance materials segment is further divided into Bostik, technical polymers, and performance additives. The company reportedly registered approximate sales of USD 504 Million in 2021.
Henkel AG & Co. KGaA - The organization was established in 1876 at Düsseldorf, Germany, and has more than 52,000 employees across the globe. Eluminex Biosciences is a biotechnology company that develops, manufactures, and markets innovative biological testing technologies with applications in life sciences research, clinical diagnostic, and pharmaceutical drug discovery platforms. The company's products are used by many customers, including academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, and government agencies. The company has a global presence with operations in North America, Europe, and Asia Pacific.
Franklin International, Inc. - Franklin International, Inc. was established in 1935 and is headquartered in Columbus, Ohio, U.S. It is a division of Franklin International. The construction building products division provides adhesives & sealants for home construction, general repairs, woodworking, and flooring installation. The company employs approximately 350 personnel in its R&D centers, laboratory, manufacturing facilities, and marketing. The company has eight distribution centers across the United States and a new plant in Guangzhou, China.
Avery Dennison Corporation - The company was established in 1935 in California, United States, and it employs over 32,000 people. The American company Avery Dennison Corporation, established in 1935, is a leading producer and supplier of pressure-sensitive adhesive products, including pressure-sensitive adhesive tapes, self-adhesive labels, tags, apparel branding tags, RFID inlays, and specialty medical items. In addition to other products for specialized applications, the business offers sensors and wound dressings. It provides a variety of emerging products, such as bio-based adhesive materials, electronic materials, and medical materials, along with technologies like roll-to-roll processing, high-speed coating, films, functional coatings, micro-replications, printing, and imaging. Along with converters, original equipment makers, and manufacturers of medical devices, the company caters its products to the automotive, electronics, building & construction, personal care, and other industrial sectors.
Illinois Tool Works Incorporation - The company was established in 1912 in Toronto, Ontario, and over 45,000 employees worldwide serve it. Illinois Tool Works Incorporation, headquartered in Illinois, U.S., and founded in 1912, is a global diversified manufacturing company with a differentiated and proprietary business model. The company has seven business segments like Automotive OEM, Food Equipment, Construction Products, Polymers & Fluids, Specialty Products, Test & Measurement, and Electronics, and Welding. The company's Polymers & Fluids Segment offers products such as adhesives, sealants, coatings, cleaners, additives, and lubricants, for global wind energy, construction, aerospace, automotive, and industrial markets.
DAP Products Inc. - The company was formed in the year of 1957 and headquartered in U.S. DAP Products, Inc. founded in 1865, and headquartered in Baltimore, Maryland, U.S., is a provider of construction and home repair products. The company is a subsidiary of RPM International. DAP Products, Inc. offers products such as adhesives, sealants, caulks, glazing, flooring coatings, roofing systems, spackling, general patches, insulating foams, and other related products for the building & construction industry. The company primarily operates in the North American market with manufacturing facilities in Maryland, Ohio, Texas, and Dallas. The company has three distribution facilities in Maryland, Texas, and Missouri. The company sells its products to more than 60,000 retail stores in North America and South America.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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