Floor Adhesive Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2359
Floor Adhesive Market size is likely to grow at a moderate CAGR over the forecast period. Floor adhesives are one of the most important elements used across industrial, residential and commercial applications Product finds widespread applications in the aforementioned industries owing to its superior adhesion properties and cost effectiveness which makes it preferable in the current growing market. Welding, mechanical fastening etc. will make noteworthy contribution to floor adhesives market size during the forecast period.
Rapid industrialization and urbanization in Asia Pacific which is attributed to growing population has propelled construction industry which in turn will have positive impact on the floor adhesive market size during the forecast period. This is primarily due to the fact that it is one of the main element in the construction industry for floor setting, panel setting and insulation owing to its excellent adhesion properties. Moreover, rising disposable income and improving living standards in Asia Pacific has propelled product demand in the infrastructure industry owing to its wide-ranging applications in interior decoration which in turn will drive floor adhesives market size by 2024. Additionally, product finds widespread applications in automotive industry in padding, carpet attachment, composite bonding, sound deadeners and accessory bonding. Product possess some value-added advantages including improving fuel efficiency as it makes the vehicle light weight which makes it preferable in the automotive industry. Strong product demand across automotive industry in North America is likely to help attain substantial gains to floor adhesives market size over the projected timespan.
The rapid fluctuations in the oil prices and concerns relating to the adverse impact from solvent based floor adhesives are the factors which are likely to restraint the floor adhesives market size over the near future. Product helps in reducing setting up and production cost across construction, electronics and automotive industry which makes it preferable across industries and help make positive impact on floor adhesive market size in the coming years. Furthermore, in recent times the use of nuts and bolts is getting obsolete and construction with use of adhesives with superior adhesion properties are being used especially in flooring and roofing activities.
Based on type, the floor adhesives market size is segmented into epoxy, urethane, acrylic, vinyl and others such as polyvinyl acetate, polyurethane etc. Acrylic is the most commonly used floor adhesive primarily due to its superior properties including better adhesion and suitability for multiple terrains. It offers up front pressure sensitive properties and develops a strong bond to withstand heavy rolling loads. It even offers the flexibility of installing over porous and nonporous substrates.
Based on application, the floor adhesives market size is segmented into tile & stone, carpet, wood, laminate and others including linoleum, cork etc. Product is extensively used in flooring applications for pasting the tile and stone floors. Most of the regions prefer the tile and stone flooring followed by wood.
Based on technology, the floor adhesives market size is segmented into water-based adhesive, solvent-based adhesive, hot-melt based adhesive and others (pressure sensitive adhesives, structural adhesives). Rising awareness for eco-friendly products is shifting focus from solvent-based adhesives to water-based adhesives which in turn will have positive impact on the water-based floor adhesives market size during the forecast timeframe.
Based on the end-user, the floor adhesive market is segmented into residential, commercial and industrial. Floor adhesives are available for almost every type of floorings, it is mostly used in residential and commercial purposes. Designer vinyl floorings are currently being used the most in houses which requires floor adhesives for its applications Growing awareness about environment and ability to cut cost is pushing floor adhesive market drastically.
Some of the leading floor adhesive market players are Bostik, BASF, The Dow Chemical Company, 3M Company, Sika, Du Pont, Huntsman, Pidilite and Henkel AG. In November 2017, Bostik wholly acquired XL Brands, it is a floor adhesive leader in North America to expand its market globally.
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