Floor Adhesives Market Analysis | 2021-2026

Market Insights

The floor adhesives market is likely to grow at a CAGR of 5% during 2021-2026 to reach USD 7.2 billion in 2026. 

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Market Dynamics

Introduction

Flooring Adhesive is a type of strong, permanent glue for adhering flooring materials to a subfloor or underlayment. Different types of adhesives are recommended for different types of flooring, although some multi-purpose solutions can be used effectively with multiple materials as per the requirements of the area where the flooring needs to be completed.

COVID-19 Impact

The floor adhesives market has been affected badly in 2020 due to the pandemic. As a result, the market recorded a massive decline of -8.2% in 2020. Based on primary results coupled with the study of the recovery trajectories of previous downturns, it is forecasted that the market will hit back its pre-pandemic levels by 2022 only, creating healthy growth opportunities for market participants shortly.

Market Drivers

Several factors driving the growth of the Floor Adhesives Market are-

• Growth in infrastructure developments and construction spending.
• Rising preference for adhesives over mechanical fasteners.
• Growing demand for water-based adhesives.
• Aimed at reducing volatile organic compound (VOC) emissions.

Segments Analysis

By Material Type

"Acrylic adhesive is expected to remain the largest material type in the market during the forecast period"

The floor adhesives market is segmented as epoxy adhesives, polyurethane adhesives, acrylic adhesives, vinyl adhesives, and other adhesives. Acrylic adhesive is expected to remain the largest material type in the market during the forecast period, owing to its faster-curing capability and price sensitivity. Acrylic adhesives are highly preferred in luxury vinyl tile flooring, carpet, and carpet tile flooring applications.

On the other hand, polyurethane adhesive is expected to remain the fastest-growing material type in the market during the forecast period due to its high preference for wood flooring applications. Its excellent properties, such as long-lasting surface finish, superior chemical, solvent, and scratch resistance, fast drying, and resistance to UV light damage, water-and-tear, and extreme temperature variations are likely to drive the material’s market.

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By Application Type

"Resilient Flooring is expected to remain the most dominant segment of the market during the forecast period"

The market is segmented into tiles & stone, carpet, wood, laminate, resilient flooring, and others. Resilient Flooring is expected to remain the most dominant segment of the market during the forecast period. Resilient flooring includes Luxury Vinyl Tiles (LVT) and Vinyl Composite Tiles (VCT) wherein LVT is the growth engine of the segment. LVT is gaining popularity, being a versatile and durable flooring option with endless designs using advanced photo technology. Wood flooring is the next biggest application type in the market due to its high significance in polyurethane adhesives.

By Technology Type

"Water-based adhesive is expected to remain the most preferred technology type in the market during the forecast period"

The market is segmented as water-based adhesives, solvent-based adhesives, and other adhesives. Water-based adhesive is expected to remain the most preferred technology type in the market during the forecast period. Water-based technology has been a popular replacement for solvent-based adhesives, driven by a host of factors, such as environmental safety, zero VOCs, and low odor. Increasing concern over reducing VOC emissions and stringent regulations regarding solvent usage have been pushing the demand for water-based adhesives in the market.

By End-User Type

"Commercial flooring is expected to remain the dominant as well as the fastest-growing end-user type in the market during the forecast period"

The market is segmented as residential, commercial, and industrial. Commercial flooring is expected to remain the dominant as well as the fastest-growing end-user type in the market during the forecast period. The demand for floor adhesives for commercial flooring applications largely comes from corporate buildings, hospitals, shopping malls, restaurants, and hotels. Increasing government spending on infrastructure development for the non-residential sector is fueling the segment’s growth.

Regional Analysis

"Asia-Pacific is expected to remain the largest market for floor adhesives during the forecast period"

In terms of regions, Asia-Pacific is expected to remain the largest market for floor adhesives during the forecast period. This region has a presence of a large number of flooring and construction contractors coupled with growing demand from the commercial and residential sectors. Despite lower adhesive per capita consumption compared to North America and Europe, Asia-Pacific holds the lead due to enormous infrastructure projects and gigantic construction industry economy/spending.

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Key Players

The following are the key players in the floor adhesives market. Most of the major players are providing adhesives for all the major applications.

• 3M
• Arkema Inc. (Bostik)
• Ardex GmbH
• BASF SE
• Bona AB
• H. B. Fuller
• Henkel AG & Co. KGaA
• Huntsman Corporation
• MAPEI Corporation
• Pidilite Industries Limited
• Roberts Consolidated Industries Inc.
• Sika AG
• The DOW Chemical Company
• W. F. Taylor Co. Inc.
• Uzin Utz AG

Note: The above list does not necessarily include all the top players in the market.

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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 market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The floor adhesives market is segmented into the following categories:

By Material Type

• Epoxy Adhesives
• Polyurethane Adhesives
• Acrylic Adhesives
• Vinyl Adhesives
• Other Adhesives

By Application Type 

• Tiles & Stone
• Carpet
• Wood
• Laminate
• Resilient Flooring
• Others

By Technology Type 

• Water-Based Adhesives
• Solvent-Based Adhesives
• Other Adhesives

By End-User Type

• Residential
• Commercial
• Industrial

By Region 

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Floor Adhesives Market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner 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 10 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.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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