Floor Adhesives Market Report
Floor Adhesives Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026 See less
Floor Adhesives Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026
Floor Adhesives Market is Segmented by Material Type (Epoxy Adhesives, Polyurethane Adhesives, Acrylic Adhesives, Vinyl Adhesives, and Other Adhesives), by Application Type (Tiles & 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).
Floor Adhesives Market is Segmented by Material Type (Epoxy Adhesives, Polyurethane Adhesives, Acrylic Adhesives, Vinyl Adhesives, and Other Adhesives), by Application Type (Tiles & Stone, Carpet, Wood, Laminate, Resilient Flooring, and Others), by...
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. 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 in the near future. In the long run, the global floor adhesives market may record a promising CAGR of 5% to reach US$ 7.2 Billion in 2026. Several factors may help the industry stakeholders to heal up the losses endured due to the pandemic. Some of which are an expected recovery in the economy, increasing infrastructure developments and construction spendings, increasing penetration of adhesives over mechanical fasteners, and increasing demand for water-based adhesives in order to reduce VOC emissions.
Based on the material type, 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.
Based on the application type, the market is segmented as 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 of polyurethane adhesives.
Based on the technology type, 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.
Based on the end-user type, 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.
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/spendings.
The following are the key players in the floor adhesives market. Most of the major players are providing adhesives for all the major applications.
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 of 2021 to 2026. 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 1000 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.
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:
The floor adhesives market is segmented into the following categories.
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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The floor adhesives market is estimated to grow at a CAGR of 5.0% by 2026.
3M, Ardex GmbH, Arkema Inc. (Bostik), BASF SE, Bona AB, The DOW Chemical Company, H. B. Fuller, Henkel AG & Co. KGaA, Huntsman Corporation, MAPEI Corporation, Pidilite Industries Limited, Roberts Consolidated Industries Inc., Sika AG, W. F. Taylor Co. Inc., Uzin Utz AG are the leading players in the floor adhesives market.
Asia-Pacific is estimated to remain dominant in the floor adhesives market in the foreseen future.