China Floor Adhesives Market to Grow with a CAGR of 3.86% through 2028
Growth in research and development activities is expected
to drive the China Floor Adhesives Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “China Floor
Adhesives Market – By Region, Competition, Forecast and Opportunities,
2018-2028F”, the China Floor Adhesives Market stood at USD 542.16 million in
2022 and is anticipated to grow with a CAGR of 3.86% in the forecast period,
2023-2028. The initiatives taken by government based on floor adhesives has led
to favorable market conditions for the China Floor Adhesives Market. Several
factors contribute to the growth of various floor adhesives market products. In an ambitious effort to further urbanize the
country and accommodate the growing population, the Chinese government has
unveiled massive construction plans. These plans are not just limited to building
new infrastructure, but also include provisions for the movement of a
staggering 250 million people to the newly established megacities. This grand
scale construction activity has inevitably created a surge in the demand for
floor adhesives, which are crucial for securing flooring materials in these
rapidly expanding urban areas.
Recognizing the need for sustainable development and
environmental protection, the Chinese government has recently released a
revised GB national document. This document provides comprehensive guidelines
on volatile organic compound (VOC) limits for various applications, ranging
from wood and vehicles to industrial metal, protective architecture, and indoor
coatings. These regulations have played a pivotal role in driving a significant
shift towards the adoption of low VOC-emitting products. Among these products,
certain types of floor adhesives have emerged as popular choices, as they not
only meet the stringent VOC limits but also offer superior performance and
durability.
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In recent years, there has been a significant surge in
research and development (R&D) efforts, resulting in the emergence of
advanced adhesives with remarkable properties. These groundbreaking
advancements have been primarily driven by the ever-growing demand for
high-performance adhesives that can withstand a wide range of environmental
conditions and provide exceptional bonding strength.
Manufacturers are now placing a strong emphasis on
developing products that not only possess robust characteristics but also
prioritize environmental concerns. This has led to a notable shift towards the
production of low volatile organic compound (VOC)-emitting adhesives, which are
eco-friendlier and more sustainable.
With this ongoing innovation and focus on improving
adhesive technology, industries across various sectors can benefit from
enhanced adhesive properties that offer superior performance and contribute to
a greener and more sustainable future.
The China Floor Adhesives Market is segmented in resin
type, application, regional distribution, and company.
Based on its resin type, the acrylic adhesive segment
held the largest share in the market. One of the significant factors
contributing to the dominance of acrylic adhesives is their widespread use in
other industries, such as electronics, truck, and bus construction. These
versatile adhesives offer exceptional bonding properties and are suitable for a
wide range of applications. In the electronics industry, acrylic adhesives are
commonly used for bonding circuit boards and securing delicate components due
to their excellent electrical insulation properties. In the construction
industry, they are favored for their ability to provide strong and durable
bonds in demanding applications, such as joining metal panels in truck and bus
construction. The cross-industry application of these adhesives has not only
increased their production and use but has also solidified their position as
the go-to-choice in the floor adhesives market.
Based on region, South Central segment is expected to
grow during the forecast period.
In the South Central region, there are several
prominent adhesive manufacturers that play a significant role in the market.
These manufacturers not only actively compete but also prioritize research and
development to create high-performance adhesives. Their presence not only
enhances the availability of floor adhesives but also fuels the overall growth
of the market. With their commitment to innovation and quality, these
manufacturers contribute to the region's reputation as a hub for adhesive
production and supply.
Major companies operating in China Floor Adhesives
Market are:
- Bostik Findley China Co. Ltd.
- Mapei China Ltd.
- Laticrete International (China) Co. Ltd.
- Forbo Shanghai Co., Ltd.
- Dow Chemical China Co. Ltd.
- Sika China Ltd.
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“Growing application of floor adhesives in various end
user industries are key drivers of the floor adhesives market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of floor adhesives with every
passing year are anticipated to register an impressive growth to China Floor
Adhesives Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Floor Adhesives Market By Resin Type (Polyurethane
Adhesive, Epoxy Adhesive, Vinyl Adhesive, Acrylic Adhesive, Others), By Application
(Wood, Carpet, Laminate, Tile & Stone, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of China
Floor Adhesives 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 China Floor
Adhesives Market.
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