Global Floor Adhesive Market, By Resin Type (Epoxy Adhesive, Polyurethane Adhesive, Acrylic Adhesive, Vinyl Adhesive, Others), Technology (Water-Based Adhesive, Solvent-Based Adhesive, Hot-Melt Adhesive), Application (Tile and Stone, Wood, Carpet, Laminate, Others), End User (Residential Floor Adhesive, Commercial Floor Adhesive, Industrial Floor Adhesive) - Industry Trends and Forecast to 2029
Floor Adhesive Market Analysis and Size
The shifting trend towards the renovation of existing buildings due to inclination for aesthetic appearance and growing disposable income is propelling the demand of the floor adhesive. The “acrylic adhesive” is the fastest growing resin type segment because it is used for the development of ultraviolet (UV) light-curing adhesives and waterborne and heat-resistant adhesives over the forecast period. Furthermore, government initiatives towards the recovery of economic are further positively influencing the demand of flooring adhesives and promoting the growth of the construction industry which are expected to drive the growth rate of the floor adhesive market during forecast period of 2022-2029.
Data Bridge Market Research analyses that the floor adhesive market is expected to undergo a CAGR of 6.00% during the forecast period. This indicates that the market value, which was USD 10.78 billion in 2021, would rocket up to USD 17.18 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Floor Adhesive Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Resin Type (Epoxy Adhesive, Polyurethane Adhesive, Acrylic Adhesive, Vinyl Adhesive, Others), Technology (Water-Based Adhesive, Solvent-Based Adhesive, Hot-Melt Adhesive), Application (Tile & Stone, Wood, Carpet, Laminate, Others), End User (Residential Floor Adhesive, Commercial Floor Adhesive, Industrial Floor Adhesive)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Wacker Chemie AG (Germany), ForboGroup (Switzerland), Pidilite Industries Ltd. (India), LATICRETE International, Inc. (U.S.), Roberts Consolidated Industries, Inc. (U.S.), Bona Orgnr (New York), ARDEX (Germany), MAPEI S.p.A. (Italy), Sika AG (Switzerland), Henkel AG & Co. KgaA (Germany), BASF SE (Germany), 3M (U.S.), Bostik (France), H.B. Fuller (U.S.), Arkema (France), Taylor (U.S.)
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Market Opportunities
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Market Definition
Floor adhesive is any type of permanent and strong glue for adhering the flooring materials to an underlayment or subfloor. Different types of floor adhesives are recommended for the different types of flooring, although few multi-purpose solutions can be used efficiently with the several materials which include residential flooring, sports flooring and non-residential flooring.
Floor Adhesive Market Dynamics
Drivers
- Growing demand for eco-friendly processes and biodegradable floor adhesives
Floor adhesives manufacturing companies are progressively adopting eco-friendly and sustainable processes to remove the negative impact of chemical manufacturing on the environment and focus on decreasing the volatile organic compounds (VOC) emissions. For instance, when exposed to high moisture levels or high temperatures, building materials emit high VOC. These adhesive materials ensure that the products have a less carbon footprint. Moreover, biodegradable floor adhesives are formed to be broken down by bacteria and microorganisms. The degrading process produces water, carbon dioxide and other natural gases defined by the environment. The rising demand of eco-friendly processes and biodegradable floor adhesives are expected to drive the growth rate of the floor adhesive market.
- Rising awareness regarding advantages of luxury homes
Rising awareness regarding the benefits of luxury homes is anticipated to increase the demand for the different types of floor adhesive, which is anticipated to benefit the growth of the floor adhesive market during the forecast period of 2022-2029. Luxury homes make a better choice for the investment. These homes are equipped with numerous amenities, including gyms, swimming pools, and various sporting and leisure rooms, which require different flooring and floor adhesive.
Furthermore, the growing applications in floor setting, panel setting and insulation along with their superior properties, growing living standard with increasing disposable income of the consumer, increasing demand from several industries such as industrial, residential and commercial are some of the major factors which are expected to increase the growth of the floor adhesive market during the forecast period of 2022-2029.
Opportunities
The surging investments by major market players further offer numerous growth opportunities within the floor adhesive market. For instance, AHF Products had declared its plan to invest USD 2.5 million in Somerset facility to launch new line of highly durable end-grain hardwood flooring. Increasing investments in the manufacturing of floor adhesives indicate its high demand in the market which is expected to positively influence the growth of the floor adhesive market over the forecast period.
Furthermore, the growth of infrastructure an increasing preferences towards the use of green as well as non-hazardous floor adhesive material will further increase the various opportunities that will lead to the growth of the floor adhesive market in upcoming period.
Restraints/Challenges
- High cost associated with the production of floor adhesive
Volatility in the production cost of floor adhesive due to high cost of raw material such as oil is expected to act as major restraint and obstruct the overall growth of the floor adhesive market during the forecast period.
Furthermore, the stringent environmental regulations for the use of floor adhesive will also hamper the growth of the floor adhesive market during the forecast period.
This floor adhesive market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the floor adhesive market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Floor Adhesive Market
The outbreak of coronavirus had a negative impact on the floor adhesive market. As a result of this pandemic, the government has imposed stringent regulation throughout the globe which has affected the growth of the floor adhesive market. The primary users of floor adhesive, such as residential and non- residential construction, have also shut down their activities, resulting in a decline in demand for construction materials such as floor adhesive globally. Also, the majority of raw materials providers in the floor adhesive market had to close down their operations and the major suppliers turned their priority to providing pandemic relief.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Floor Adhesive Market Scope
The floor adhesive market is segmented on the basis of resin type, technology, application, end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Resin Type
- Epoxy Adhesive
- Polyurethane Adhesive
- Acrylic Adhesive
- Vinyl Adhesive
- Others
Technology
- Water-Based Adhesive
- Solvent-Based Adhesive
- Hot-Melt Adhesive
Application
- Tile and Stone
- Wood
- Carpet
- Laminate
- Others
End User
- Residential Floor Adhesive
- Commercial Floor Adhesive
- Industrial Floor Adhesive
Floor Adhesive Market Regional Analysis/Insights
The floor adhesive market is analysed and market size insights and trends are provided by country, resin type, technology, application, end user as referenced above.
The countries covered in the floor adhesive market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the floor adhesive market due to the rising population along with growth of advanced infrastructure and rapid urbanization in this region.
Middle East and Africa will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the growing preferences towards bio-based adhesives in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Floor Adhesive Market Share Analysis
The floor adhesive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to floor adhesive market.
Some of the major players operating in the floor adhesive market are:
- Wacker Chemie AG (Germany)
- ForboGroup (Switzerland)
- Pidilite Industries Ltd. (India)
- LATICRETE International, Inc. (U.S.)
- Roberts Consolidated Industries, Inc. (U.S.)
- Bona Orgnr (New York)
- ARDEX (Germany)
- MAPEI S.p.A. (Italy)
- Sika AG (Switzerland)
- Henkel AG & Co. KgaA (Germany)
- BASF SE (Germany)
- 3M (U.S.)
- Bostik (France), H.B. Fuller (U.S.)
- Arkema (France)
- Taylor (U.S.)
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