Stratview Research announces the launch of a new research report on Floor Adhesives Market 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), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
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 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 low-hanging fruits available in the market as well as formulate growth strategies.
Floor Adhesives Market: Highlights
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 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 coming five years, 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 development and construction spending, increasing penetration of adhesives over mechanical fasteners, and increasing demand for water-based adhesives in order to reduce VOC emissions.
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Based on the material type, 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, 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, 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, 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.
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In terms of regions, Asia-Pacific is expected to remain the largest market for floor adhesives during the forecast period. This region has 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.
Most of the major players are providing adhesives for all the major applications. Following are the key players in the floor adhesives market are 3M, Ardex GmbH, Arkema Inc. (Bostik), 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., and Uzin Utz AG.
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 on 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:
This report studies the floor adhesives market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
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: