Floor Adhesives Market Likely to Reach US$ 6.95 Billion in 2023


Posted August 24, 2018 by Stratview-Resesarch

Adhesives have progressively been becoming the preferred choice of materials to install most of the flooring types used today for residential, commercial, and industrial purposes.

 
As per Stratview Research, the global floor adhesives market is projected to grow at a healthy growth over the next five years and reach US$ 6,947.8 million in 2023. Growing global construction industry, increasing consumption of adhesives globally, increasing use of water-based adhesives over solvent-based adhesives to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are some of the key factors burgeoning the demand for floor adhesives in the construction industry.

Based on the material type, acrylic adhesive segment currently dominates the global floor adhesives market, driven by increasing usage of carpet and resilient flooring applications. Polyurethane (PU) adhesive is mainly preferred in wood flooring applications, owing to its excellent properties

Resilient flooring is likely to remain the most dominant application type in the global floor adhesives market over the next five years. Among resilient flooring applications, luxury vinyl tile (LVT) is gaining popularity, owing to its versatility and durability with endless designs using advanced photo technology.

In terms of technology type, water-based technology dominates the floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period as it has been the most preferred replacement of solvent-based adhesives, due to a host of factors, such as environmental safety, zero VOCs, and low odor.

Asia-Pacific is expected to remain the largest and fastest-growing floor adhesives market globally in the foreseeable future. India is likely to be the new growth engine in the region, supported by an increasing government investment in the development of infrastructure and high construction activities across the country.

Some of the major floor adhesive suppliers include Ardex GmbH, Arkema Inc. (including Bostik), Bona AB, H.B. Fuller Company, Henkel AG & Co. KGaA, Mapei Corporation, Pidilite Industries Limited, Roberts Consolidated, Sika AG, and W.F. Taylor Co., Inc.
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Categories Research , Services , Transportation
Tags construction and equipment , floor adhesives , technology
Last Updated August 24, 2018