• Blog
  • North American Floor Adhesives Market Report

    North American Floor Adhesives Market Report

    North American Floor Adhesives Market Report
    Report code - SRCE109 Published On : Aug,2022 No. of Pages: 154
    Get Free Sample |
    North American Floor Adhesives Market Size, Share, Trend, Forecast, Competitive Analysis, See more...

    Market Insights

     

    The North American floor adhesives market size is projected to reach an estimated value of US$ 1,138.6 million in 2027. The upward trajectory of the floor adhesives market in the region is likely to continue with attractive growth opportunities in the entire ecosystem of the market in the coming years. The outbreak of the pandemic shook the construction industry to the core. As a result, the industry recorded a massive decline across regions. The impact of this has been recorded across its supply chain including the demand for floor adhesives, which plummeted by over -7.8% in the year 2020.

    Growing North American construction industry, increasing consumption of adhesives in North America, increasing usage of water-based adhesives in order to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and the ability of adhesives to bond dissimilar materials are the driving factors that are burgeoning the growth of floor adhesives in the North American market.

    The market dynamics of floor adhesives in North America are different from that of other parts of the world. The region has an overall high penetration of adhesives in flooring applications as compared to Asia-Pacific, which is the largest flooring adhesives market. Also, the per capita consumption of floor adhesives is quite higher in North America as compared to that of Asia-Pacific.

     

    Segments' Analysis

    Based on the material type as Epoxy, Polyurethane, Acrylic, Vinyl, and Others. Polyurethane adhesives currently dominated the North American floor adhesives market, driven by their higher usage in wood flooring applications. Acrylic adhesives are likely to witness the highest growth during the same period, owing to their increased usage in LVT flooring and carpet applications.

    Based on the application type, the market is segmented into Tiles & Stone, Wood, Carpet, Laminate, Vinyl Flooring, and Others. Wood flooring is likely to be the dominant application type in the regional floor adhesives market during the forecast period. There is increasing usage of adhesives instead of mechanical fastening systems in wood flooring applications. Wood flooring requires more adhesive content per square foot, which further elevates the demand for adhesives in the segment. Vinyl flooring application is expected to witness the highest growth during the forecast period, driven by increasing demand for luxury vinyl tiles (LVT) in North America.  

    Based on the technology type the market is segmented as Water-based Adhesives, Solvent-based Adhesives, and Other Adhesives. Water-based technology currently dominates the North American floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period, driven by stringent regulations regarding reducing VOC emissions in order to create a safer environment.

    The North American floor adhesives market is further segmented based on countries (The USA, Canada, and Mexico). The USA is likely to maintain its leading position in the region’s market over the next five years. The country is also expected to witness the highest growth over the same period. The USA is also among the leading market for floor adhesives globally and will remain the major market in the coming years. 

     

    Key Players

     

    The supply chain of this market comprises raw material suppliers, floor adhesive manufacturers, dealers & distributors, and flooring installers. The following are some of the key players in the North American floor adhesives market (arranged alphabetically):

    • 3M
    • Ardex GmbH
    • Arkema Inc. (Bostik)
    • BASF SE
    • Bona AB
    • DowDuPont
    • H. B. Fuller
    • Henkel AG & Co. KGaA
    • Huntsman Corporation
    • MAPEI Corporation
    • Roberts Consolidated Industries Inc.
    • Sika AG
    • W. F. Taylor Co. Inc.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s North American floor adhesives market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

     

    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 into 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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Frequently Asked Questions (FAQs)

    The North American floor adhesives market is estimated to grow at a healthy CAGR of 4.3% over the next five years to reach a value of US$ 1,442.6 Million in 2027. The growing North American construction industry, increasing consumption of adhesives, and replacement of mechanical fastening systems with adhesives are the driving factors that are supporting the growth of floor adhesives in the North American market.

    3M, Ardex GmbH, Arkema Inc. (Bostik), BASF SE, Bona AB, DowDuPont, H. B. Fuller, Henkel AG & Co. KGaA, Huntsman Corporation, MAPEI Corporation, Roberts Consolidated Industries Inc, Sika AG, and W. F. Taylor Co. Inc. (arranged alphabetically) are some of the key players in the market, owing to their wide geographical presence, huge product portfolio, and great industry experience.

    The USA is estimated to be dominant in the North American floor adhesives market in the coming years. The country is also likely to create consequential demand for floor adhesives over the next five years. The presence of a large number of flooring and construction contractors and growing demand from commercial and residential sectors are the factors behind the dominance of the USA.

    The USA is estimated to grow at the fastest rate in the coming five years. Growth in the construction industry and shift towards sustainability are leading to an increased demand for environmental-friendly adhesives.

    Wood flooring is likely to maintain its dominance in the market over the next five years. They are the most environmentally friendly option for flooring.