Floor Adhesive Market Scope
The floor adhesive market refers to the market for products used to adhere flooring materials to a substrate, such as concrete or wood. These products are used in a variety of applications, including residential, commercial, and industrial construction. The floor adhesives market is expected to grow in the coming years due to increasing demand for new construction and renovation projects, as well as the growing popularity of laminate and luxury vinyl tile (LVT) flooring, which require adhesives for installation. Key players in the floor adhesive market include 3M, Bostik, and Henkel, among others. The floor adhesive market is projected to grow from USD 8.54 Billion in 2017 to USD 11.01 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The research report of Floor Adhesive Market provides the analysis by Type (Epoxy, Urethane, Acrylic, and Vinyl), Application (Tile Stone, Carpet, Wood, and Laminate), Technology (Water-based, Solvent-based and Hot-melt based), and Region.
Floor Adhesive Market Drivers
There are several factors that can drive demand for floor adhesives:
- Construction and remodeling activity: As more buildings are constructed or renovated, there is increased demand for floor adhesives to install new floors or repair existing ones.
- Growth in the housing market: An increase in the number of new homes being built or existing homes being renovated can also drive demand for floor adhesives.
- Changes in consumer preferences: There may be shifts in consumer preferences towards certain types of flooring materials, such as those that are more durable or require less maintenance, which can affect the demand for specific types of floor adhesives.
- Technological advancements: The development of new floor adhesive products or application methods can also drive demand for floor adhesives.
- Environmental concerns: There may be increased demand for floor adhesives that are more environmentally friendly or have a lower impact on indoor air quality.
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Floor Adhesive Market Restraints
There are several factors that may act as restraints on the growth of the floor adhesive market. These include:
- High cost: Floor adhesives tend to be more expensive than other types of flooring materials, such as ceramic tiles or vinyl. This can be a barrier for some consumers who are looking for more affordable options.
- Limited color and design options: Many floor adhesives are only available in a limited range of colors and designs, which may not appeal to consumers who are looking for more variety.
- Difficulty of installation: Installing floor adhesives can be a challenging and time-consuming process, especially for those who are not experienced in DIY projects. This can be a deterrent for some consumers.
- Limited durability: Some types of floor adhesives may not be as durable as other flooring materials, especially when exposed to heavy foot traffic or other wear and tear. This may be a concern for consumers who are looking for a more long-lasting flooring solution.
- Health and environmental concerns: Some floor adhesives may contain volatile organic compounds (VOCs) or other potentially hazardous substances, which may be a concern for some consumers. Additionally, the production and disposal of floor adhesives can have negative environmental impacts.
Floor Adhesive Market Segmentation
The Floor Adhesive Market can be segmented by type, application, technology, end-use, and region.
Based on type, the epoxy resin segment is expected to be the largest segment of the market during the forecast period.
Epoxy adhesives consist of an epoxy resin and hardener. These adhesives are available in one-part, two-part, and film form. Epoxy adhesives form an extremely strong and durable bond with most materials. The major reason for the increasing adoption of epoxy adhesives in the flooring industry is their capacity to provide a good balance of handling characteristics and superior physical properties.
- Tile Stone
Based on application, the tile stone segment is projected to witness the highest growth during the forecast period.
Floor adhesive are extensively used to fix and joint tiles, marbles, and stones, among other materials. These adhesives provide high strength and durability and help prevent shrinkage cracks and slippages in a material.
- Water-Based Adhesive
- Solvent-Based Adhesive
- Hot-Melt Based Adhesive
Based on technology, the water-based adhesives segment is projected to be the largest segment of the market during the forecast period.
Water-based adhesives are widely used due to their low volatile organic content, and excellent shear strength, flexibility, and outstanding adhesion for diverse end use applications. Water-based adhesives are easy to handle and have better efficiency than solvent-based adhesives.
- North America
- Middle East Africa
- South America
The Asia-Pacific floor adhesive market is projected to witness the highest growth during the forecast period.
The floor adhesive market in Asia-Pacific expected to witness the highest growth during the forecast period. Emerging economies, such as China, India, South Korea, and various Southeast Asian countries are attracting several global players to establish their manufacturing base in Asia-Pacific.
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Floor Adhesive Market Key Players
- Mapei S.p.A. (Italy)
- Sika AG (Switzerland)
- Henkel AG (Germany)
- The Dow Chemical Company (U.S.)
- Wacker Chemie AG (Germany)
- Bostik SA (France)
- Forbo Holdings AG (Switzerland)
- Pidilite Industries Limited (India)
- H.B. Fuller (U.S.)
- LATICRETE International, Inc (U.S.)
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed based on how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pinpoint analysis of changing competition dynamics and keeps you ahead of competitors
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