According to TechSci Research report, “Floor Adhesive Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2019-2029F”, the Global Floor Adhesive Market stood at USD 8.85 billion in 2023 and is anticipated to grow with a CAGR of 5.34% in the forecast period, 2024-2029. The initiatives taken by the government based on floor adhesive has led to favorable market conditions for the Global Floor Adhesive Market. Several factors contribute to the growth of various floor adhesive products.
Governments across the globe are actively encouraging and promoting sustainable construction practices. This global push for sustainability is significantly influencing the floor adhesive market. In response, manufacturers of flooring adhesives are proactively developing and introducing more environmentally friendly and sustainable products, even in the absence of strict government regulations.
One notable instance of this industry’s commitment to sustainability is the reintroduction of biomass balance to flooring adhesives. By incorporating biomass-based materials in their production processes, these adhesives are able to reduce their overall environmental impact. This not only aligns with the growing demand for eco-friendly solutions but also showcases the industry’s dedication to reducing its carbon footprint.
Diverse government initiatives aimed at promoting industrial expansion are also playing a role in shaping the adhesive market. These initiatives specifically support the use of adhesives in various applications, including the installation of tiles on walls, floors, and even swimming pools. As a result, the adhesive market is experiencing a surge in demand, driven by the need for efficient and reliable bonding solutions in construction projects.
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Technological advancements have played a pivotal role in driving research and development initiatives within the floor adhesive industry. The primary focus has shifted towards the creation of high-performance adhesives that offer superior adhesion, resistance to heat and chemicals, and long-term stability. The ultimate objective is to develop products that can effectively cater to diverse applications and withstand varying environmental conditions.
In response to the growing awareness about the environmental impact of construction materials, considerable efforts are being directed towards the development of more sustainable adhesive solutions. The research and development activities aim to create adhesives that not only exhibit high efficiency but also align with environmental considerations. This includes exploring innovative options such as biomass balance in flooring adhesives, which effectively reduces the overall environmental footprint of these products.
The Global Floor Adhesive Market is segmented into resin type, technology, application, regional distribution, and company.
Based on its resin type, the acrylic adhesive segment held the largest share in the market. Acrylic adhesives frequently strike a beneficial equilibrium between effectiveness and affordability, delivering dependable bonding strength at competitive price points. This cost-effectiveness renders them appealing for a broad spectrum of projects, spanning from expansive commercial developments to modest residential endeavors. As a result, their widespread acceptance across the global floor adhesive market continues to thrive, bolstered by their ability to meet both the budgetary and performance requirements of a diverse clientele.
Based on region, the North America segment is expected to grow during the forecast period.
In recent years, there has been a noticeable increase in emphasis on residential and institutional construction activities in North America. This surge in construction projects has created a significant demand for flooring adhesives in the region over the forecast period.
Notably, in 2018–19, the U.S. Government-led fiscal stimulus played a crucial role in boosting the confidence of businesses based in the country. This confidence led to sustained construction spending in the U.S., thereby fueling the growth of the flooring adhesive market.
Despite the ongoing pandemic, the construction industry in the U.S. remained active, resulting in an overall increase in construction spending. This unexpected resilience of the construction sector during such trying times led to a surge in the demand for flooring adhesives in the country.
The continuous growth of the flooring adhesive market in the U.S. serves as a positive indicator of the robustness of the construction industry in the country. With increasing construction projects and the essential role of flooring adhesives in ensuring durable and reliable flooring solutions, the demand for these adhesives is expected to stay strong in the foreseeable future.
Major companies operating in the Global Floor Adhesive Market are:
- Mapei S.p.A.
- Sika AG
- Henkel AG & Co. KGaA
- The Dow Chemical Company
- Wacker Chemie AG
- Bostik SA
- Forbo Holdings AG
- Pidilite Industries Limited
- LATICRETE International Inc.
- Dupont De Nemours Inc.
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“The advent of digital commerce has revolutionized how customers explore, buy, and engage with floor adhesive solutions. Online retail platforms have surged in popularity as preferred avenues for procuring adhesives, providing customers with unmatched convenience, a diverse array of choices, and frequently, competitive pricing. Recognizing this shift, manufacturers and distributors are allocating resources towards refining their online presence, leveraging targeted marketing initiatives, enhancing product knowledge dissemination, and developing intuitive digital platforms. These strategic endeavors are aimed at harnessing the expanding momentum of online transactions, ensuring a seamless and engaging experience for consumers navigating the virtual marketplace for floor adhesive products.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Floor Adhesive Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Resin Type (Polyurethane Adhesive, Epoxy Adhesive, Vinyl Adhesive, Acrylic Adhesive, Others), By Technology (Water-Based Adhesive, Hot-Melt Adhesive, and Solvent-Based Adhesive), By Application (Wood, Carpet, Laminate, Tile & Stone, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Floor Adhesive Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Floor Adhesive Market.
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Table of Content-Floor Adhesive Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Global Floor Adhesive Market: Demand-Supply Analysis
4.1. By Region
- Global Floor Adhesive Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Resin Type (Polyurethane Adhesive, Epoxy Adhesive, Vinyl Adhesive, Acrylic Adhesive, Others)
5.2.2. By Technology (Water-Based Adhesive, Hot-Melt Adhesive, and Solvent-Based Adhesive)
5.2.3. By Application (Wood, Carpet, Laminate, Tile & Stone, Others)
5.2.4. By Region
5.2.5. By Company (2023)
5.3. Market Map
5.3.1. By Resin Type
5.3.2. By Technology
5.3.3. By Application
5.3.4. By Region
- Asia Pacific Floor Adhesive Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Resin Type
6.2.2. By Technology
6.2.3. By Application
6.2.4. By Country
6.3. Asia Pacific: Country Analysis
6.3.1. China Floor Adhesive Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Resin Type
6.3.1.2.2. By Technology
6.3.1.2.3. By Application
6.3.2. India Floor Adhesive Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Resin Type
6.3.2.2.2. By Technology
6.3.2.2.3. By Application