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Global Floor Adhesive Market worth US$ 14.8 Billion by 2030 – Exclusive Research Report by DataM Intelligence

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Global Floor Adhesive Market worth US$ 14.8 Billion by 2030 – Exclusive Research Report by DataM Intelligence

September 08
09:46 2023
Global Floor Adhesive Market worth US$ 14.8 Billion by 2030 - Exclusive Research Report by DataM Intelligence
Floor Adhesive Market – DataM Intelligence
Floor Adhesive Market reached US$ 9.6 Billion and is expected to reach US$ 14.8 Billion by 2030

Market Synopsis

Flooring adhesive is a strong, long-lasting glue used to adhere flooring materials to underlayment or the subfloor. Different adhesives are advised for various flooring kinds, such as noise reduction membranes, porcelain tiles, ceramic tiles, resilient tiles, and all types and sizes of wood flooring.

Due to their exceptional adhesion capabilities and cost-effectiveness, floor adhesives have widespread use throughout industrial, residential, and commercial sectors, making them desirable in today’s rising market.

The floor adhesives market is inextricably linked to two key factors: the spike in building activity driven by urbanization and the strong trend towards sustainability and ecologically friendly construction practices. As the industry reacts to these driving forces, strategic alignment and innovation become critical for capitalizing on the potential given by these variables, eventually directing the floor adhesives market onto a path of sustainable development and strategic relevance.

 

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Market Size and Growth Analysis

As per the DataM Intelligence’s latest research the Global Floor Adhesive Market reached US$ 9.6 Billion and is expected to reach US$ 14.8 Billion by 2030, growing with a CAGR of 5.5% during the forecast period 2023-2030.

Market Drivers

The trio of adaptability, safety, and convenience of application is organically fed by the rising demand for floor adhesives, reshaping industry dynamics and elevating the value proposition of adhesive solutions. This strategic convergence represents a deep awareness of changing construction practices, increased customer expectations, and the imperatives of operational efficiency in today’s business scenario.

The increasing demand for floor adhesives is based on their versatility. The adhesive environment is changing to satisfy the diverse needs of a wide range of flooring materials, from classic hardwood to modern luxury vinyl and beyond. Adhesives designed for a variety of substrates and installation situations demonstrate their versatility, meeting the specific needs of various projects and design concepts. 

This adaptability allows architects, designers, and builders to explore new creative possibilities, allowing them to realize complicated patterns, textures, and layouts. As the flooring industry embraces a kaleidoscope of materials and design styles, adhesives’ ability to produce a smooth connection across this range accelerates their indispensability, driving demand higher.

Market Opportunities: 

The surge in investments by leading market participants creates even more potential for expansion in the floor adhesive industry. For example, AHF Products announced plans to spend USD 2.5 million in its Somerset factory to produce a new range of exceptionally durable end-grain hardwood flooring. Increasing investments in the production of floor adhesives show the industry’s strong demand, which is projected to favourably affect the development of the floor adhesive market throughout the forecast period.

Furthermore, the expansion of infrastructure and rising preferences for the use of green and non-hazardous floor adhesive materials will boost the number of chances that will drive the development of the floor adhesive market in the future years.

 

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Segmentation Analysis

The global floor adhesive market is segmented by type, technology, application, and end user

By Type

  • Urethane
  • Epoxy
  • Acrylic 

By Technology

  • Water-Based Adhesive
  • Solvent-Based Adhesive
  • Hot-Melt Adhesive

By Application

  • Ceramic Tile and Stone
  • Carpet
  • Wood 
  • Others

By End User

  • Residential
  • Commercial
  • Industrial

Application Insights

The Ceramic Tile & Stone Segment is Expected to Account for One of The Largest Shares in 2023

The ceramic tile and stone application segment has emerged as an essential driver, propelling the floor adhesives market to unprecedented development. This surge is supported by a purposeful interplay of variables emphasizing the importance of tile and stone installations in modern building and design techniques. The tremendous growth of this industry reflects changing consumer preferences, the inherent properties of floor adhesives, and the synergy between aesthetics, utility, and longevity.

The current movement in customer preferences toward these materials is one of the primary causes behind the significant rise in the tile and stone application segment. Tiles and stones have gained tremendous appeal because of their inherent beauty, adaptability, and timelessness. Tiles and stones are popular alternatives for creating visually appealing and sophisticated environments as current design trends shift toward sleek aesthetics and minimalist sensibilities.

Key Developments of Floor Adhesive Market

  • In August 2021, Arkema signed an agreement to acquire Ashland’s Performance Adhesives business in the United States. This endeavour was in line with Arkema’s objective of becoming a pure speciality material provider focused on long-term, high-performance solutions. This also contributes to Bostik’s (an Arkema firm) long-term expansion objectives.
  • In March 2021, Sika acquired the flooring adhesives business of DriTac, a US-based floor-covering adhesives company. Sika strengthened its footprint among floor covering installers and distributors, as well as expedited its growth in the US interior finishing industry as a result of this purchase.

Floor Adhesive Market: Regional Analysis

By region the global floor adhesive market is segmented into North America, Europe, South America, Asia Pacific, Middle East, and Africa. 

Asia Pacific is Expected to Account for One of the Largest Share in 2023.

Asia Pacific’s status as the largest consumer of floor adhesives is a testament to its pivotal role in the global economic landscape. The vitality of the area, fueled by rising urbanization, cultural variety, and sustainability imperatives, creates a favourable climate for vigorous adhesive demand. Industry stakeholders and market players are ready to capitalize on this lucrative market, capitalizing on the region’s economic trajectory and strategically aligning their solutions to satisfy the Asia Pacific floor adhesives market’s increasing demands.

Competitive Landscape

The major market players contributing to the market growth include BASF SE, Sika AG, 3M, Dow, Akfix, H.B. Fuller, Advanced Adhesive Technologies Inc., MAPEI S.p.A., Bostik, Henkel Adhesives Technologies India Private Limited.

BASF SE Overview

BASF SE is a German multinational chemical company. It is the largest chemical-producing country in the world. The company headquarters is in Ludwigshafen, Germany. The company has subsidiaries and joint ventures in more than 80 countries.

 

Related Report

Adhesive Tapes Market 

Adhesive Resin Market

Adhesive Market

 

About DataM Intelligence

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Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries, catering to the key business research needs that influence the growth trajectory of our vast clientele.

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