As people live longer and fertility rates fall, the number of seniors increases, resulting in a lack of specialized labor. To counteract this trend, Sika offers easy-to-apply building solutions and advanced automation.
Key Facts and Figures
The population over 65 is growing faster than other age groups. Their global percentage is projected to rise from 10% in 2022 to 16% in 2050.1
Nowadays, two-thirds of the population live where fertility is below 2.1 births per woman, the level required for long-term zero growth.2
By 2050, the global median age is projected to rise from 31 to 36. Europe will have the oldest median at 47 and Latin America's will jump from 31 to 41. However, Africa will have the youngest median age at 25.3
Europe's dependency ratio is projected to be the highest at 75%, surpassing all other regions. Basically, by 2050, for every 100 employed individuals in Europe, there will be 75 individuals who are dependent (either under 15 or over 65 years). In contrast, Asia and Latin America are expected to have the lowest dependency ratio, 56%.
In the US, construction workforce shortage topped half a million in 2023. Nearly 1 in 4 construction workers is older than 55.4
Shortage of specialized labour
Proportion of companies citing labour shortages as a limiting factor in production (EU27)5
Impact on Sika
- Easy-to-apply products help maintain quality amidst experience gaps or labor shortages. Their application should be intuitive, demand little training and be adaptable to diverse environments.