Floor adhesive Market to Grow with a CAGR of 5.34% through 2029
Surge in research and development activities is
expected to drive the Global Floor Adhesive Market growth in the forecast
period, 2025-2029.
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 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 diverse clientele.
Based on region, 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 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 Global Floor Adhesive Market.
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