Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Floor Adhesives Market Report (2023-2028)," the market is estimated at USD 1.92 billion in 2023. It is expected to register a CAGR of 4.85% during the forecast period.
Floor adhesive is a strong glue used to attach flooring materials to a subfloor or underlayment. Resin types include epoxy, polyurethane, acrylic, vinyl, and others. The rapidly growing global construction industry is increasing the demand for floor adhesives. The versatility, safety, and ease of application of floor adhesives are gaining more popularity. Increasing demand for bio-based floor adhesives is expected to present more opportunities for the market in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.92 billion |
| Market Size (2028) | USD 2.44 billion |
| CAGR (2023-2028) | 4.85% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growing construction activities. |
| Growing middle-class population and increasing disposable incomes. | |
| The growing trend of low-cost housing. |
Who are the Top Companies in the Global Floor Adhesives Market?
The market is partially consolidated. The significant players in the global floor adhesives market with the majority market share are:
- 3M
- Arkema Group (Bostik SA)
- Ashland
- Dow
- Forbo Holding AG
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Jowat SE
- LATICRETE International Inc.
- MAPEI SpA
- Pidilite Industries Limited
- Sika AG
- Tesa SE
Other Reports That Might Be of Your Interest:
- Aerospace Adhesives Market Report - The market for aerospace adhesives is expected to register a CAGR of more than 4.5% over the next five years.
- Wood Adhesives Market Report - The wood adhesives market is expected to register a CAGR of more than 4% over the next five years.
Key Highlights from the Global Floor Adhesives Market Report:
Increasing Demand from the Residential Sector
- Tile and stone adhesives are commonly used in residential construction, making it the fastest-growing segment in the market.
- The rising middle-class population and increasing disposable incomes have expanded the middle-class housing segment, driving the use of flooring adhesives.
- The global construction industry value has increased, with the highest growth expected in Asia-Pacific, particularly in China and India.
Asia-Pacific Leading in Front
- The Asia-Pacific region is witnessing growing construction activities in China, India, and ASEAN countries.
- China's construction market is the largest in the world, with significant investments in buildings, and is expected to continue growing in the coming years.
- India's government policies like Smart City projects and Housing for All by 2022 are expected to increase the demand for floor adhesives.
What are the Latest Developments in the Global Floor Adhesives Market?
- In August 2021, Arkema signed an agreement to acquire Ashland's Performance Adhesives business in the United States.
- In March 2021, Sika acquired the flooring adhesives business of DriTac, a US-based floor-covering adhesives company.
Mordor Intelligence has Segmented the Global Floor Adhesives Market Based on Resin Type, Technology, Application, End-user Industry, and Geography.
- By Resin Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Epoxy
- Polyurethane
- Acrylic
- Vinyl
- Other Resin Types
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Water-borne
- Solvent-borne
- Other Technologies
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Tile & Stone
- Carpet
- Wood
- Laminate
- Resilent Flooring
- Other Applications
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Residential
- Commercial
- Industrial
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Floor Adhesives Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Construction Adhesives Market Report - The global construction adhesives market size is expected to grow from USD 8.94 billion in 2023 to USD 12.02 billion by 2028, at a CAGR of 6.10% during the forecast period (2023-2028).
- Southeast Asia Adhesives and Sealants Market Report - The Southeast Asian adhesives and sealants market is currently estimated at USD 3 billion. It is expected to reach USD 4.11 billion by 2028, registering a CAGR of over 6.5% over the next five years.
- Hot-melt Adhesives Market Report - The global hot-melt adhesives market size is estimated at USD 15.78 billion in 2023. It is expected to reach USD 22.11 billion by 2028, at a CAGR of 6.98% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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