Stratview Research announces the launch of a new research report on Floor Adhesives Market by Material Type (Epoxy Adhesives, Polyurethane Adhesives, Acrylic Adhesives, Vinyl Adhesives, and Other Adhesives), by Application Type (Tile & Stone, Carpet, Wood, Laminate, Resilient Flooring, and Others), by Technology Type (Water-based Adhesives, Solvent-based Adhesives, and Other Adhesives), by End-User Type (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This report, from Stratview Research, studies the floor adhesives market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Floor Adhesives Market: Highlights
Adhesives have progressively been becoming the preferred choice of materials to install most of the flooring types used today for residential, commercial, and industrial purposes. Apart from tiles & stones which are more often used with the cementitious product for adherence, all the other major flooring types such as resilient, wood, and carpet are predominantly installed using polymer adhesives. There are various types of adhesives used to adhere different flooring with substrates. The selection of the type of adhesives is largely dependent on the flooring type as well as flooring application.
As per Stratview Research, the global floor adhesives market is projected to grow at a healthy growth over the next five years and reach US$ 6,947.8 million in 2023. Growing global construction industry, increasing consumption of adhesives globally, increasing use of water-based adhesives over solvent-based adhesives to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are some of the key factors burgeoning the demand for floor adhesives in the construction industry. Another factor which attracts adhesives usage is ease of installation of polymer-based adhesives compared to traditional mechanical fastening system or cementitious powders.
Based on the material type, acrylic adhesive segment currently dominates the global floor adhesives market, driven by increasing usage of carpet and resilient flooring applications. Polyurethane (PU) adhesive is mainly preferred in wood flooring applications, owing to its excellent properties, such as long-lasting surface finish; superior chemical, solvent, and scratch resistance; fast drying; resistance to UV light damage, general wear-and-tear, and extreme temperature variations.
Resilient flooring is likely to remain the most dominant application type in the global floor adhesives market over the next five years. Among resilient flooring applications, luxury vinyl tile (LVT) is gaining popularity, owing to its versatility and durability with endless designs using advanced photo technology. It can replicate the natural-looking wood, stone, marble, and various other finishes in terms of both design and fixture.
In terms of technology type, water-based technology dominates the floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period as it has been the most preferred replacement of solvent-based adhesives, due to a host of factors, such as environmental safety, zero VOCs, and low odor.
Asia-Pacific is expected to remain the largest and fastest-growing floor adhesives market globally in the foreseeable future. Despite declining growth of the Chinese economy, the country is expected to remain growth engine of the region’s market over the next five years. India is likely to be the new growth engine in the region, supported by an increasing government investment in the development of infrastructure and high construction activities across the country.
Some of the major floor adhesive suppliers include Ardex GmbH, Arkema Inc. (including Bostik), Bona AB, H.B. Fuller Company, Henkel AG & Co. KGaA, Mapei Corporation, Pidilite Industries Limited, Roberts Consolidated, Sika AG, and W.F. Taylor Co., Inc. Development of innovative products, regional expansion, and building of vast distribution network to the unpenetrated markets are some of the major strategies adopted by the major companies in order to quickly gain market share and to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global floor adhesives market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Floor Adhesives Market by Material Type:
Floor Adhesives Market by Application Type:
Floor Adhesives Market by Technology Type:
Floor Adhesives Market by End-User Type:
Floor Adhesives Market by Region:
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