The global floor adhesives market is projected to grow at a healthy growth over the next five years to reach US$ 6,947.8 million in 2023. This represents an attractive growth opportunity in the entire ecosystem of the market. Growing global construction industry, an increased consumption of adhesives globally, an increasing use of water-based adhesives over solvent-based adhesives to reduce VOC emissions, the replacement of mechanical fastening systems with adhesives, and the ability of adhesives to bond dissimilar materials are some of the key factors burgeoning the demand for the floor adhesives market.
Another factor which attracts adhesives usage is an ease of installation of polymer-based adhesives compared to traditional mechanical fastening system or cementitious powders. Adhesives also maintain aesthetics of the flooring and do not create or damage its impression. However, government regulations regarding workers safety and harmful VOC emissions and high-curing time of adhesives are some of the major challenges faced by the industry.