Newark, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 10 billion in 2023 global floor adhesive market will reach USD 17.90 billion in 2033. As the name implies, floor adhesives are used to secure floors in building and construction. It serves as a glue to join the floor tiles with the tiles. The adhesive is extremely robust and has industrial grade stickiness. Solvents, resins, additives, and synthetic polymers make up its composition. Depending on the requirements of the application, they are combined in various ratios. The combination or ratio of the various ingredients affects the application, moisture resistance, bonding strength, and curing time as well. In addition to standard tiles, it is utilised for wood or vinyl floors. They are additionally offered in several formats. Common product forms for floor adhesives include sheets, liquid, and paste. They also have the ability to insulate sound. Eco-friendly adhesives have also been introduced as a result of product advancements. They facilitate flooring attractiveness. Adhesive flooring guarantees security and primes surfaces to endure significant strain.
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Key Insight of the Global Floor adhesive Market
Asia Pacific will dominate the market during the forecast period.
The demand for homes, workplaces, hospitals, shopping centres, schools, and other utility spaces is fuelled by the region's rapidly increasing population and urbanisation. The population's growing disposable income also plays a role in the rising demand for housing. Office and manufacturing space numbers have expanded as a result of private sector investment. Furthermore, the growth of the building and construction industry has been fuelled by the government's rising spending on infrastructure, including roads, bridges, airports, trains, and metros. Thus, Asia Pacific's dominance in the worldwide floor adhesive market will be aided by the region's sizable and expanding building and construction sector.
In 2023, the acrylic segment dominated the market with the largest market share of 39% and revenue of 3.90 billion.
The resin type segment is divided into epoxy, polyurethane, acrylic, vinyl, and others. In 2023, the acrylic segment dominated the market with the largest market share of 39% and revenue of 3.90 billion.
In 2023, the water-borne segment dominated the market with the largest market share of 51% and revenue of 5.10 billion.
The technology segment is divided into water-borne, solvent-borne, and others. In 2023, the water-borne segment dominated the market with the largest market share of 51% and revenue of 5.10 billion.
In 2023, the resilient flooring segment dominated the market with the largest market share of 35% and revenue of 3.50 billion.
The application segment is divided into tiles and stones, carpets, woods, laminates, resilient flooring, and others. In 2023, the resilient flooring segment dominated the market with the largest market share of 35% and revenue of 3.50 billion.
In 2023, the commercial segment dominated the market with the largest market share of 41% and revenue of 4.10 billion.
The end user segment is divided into residential, commercial, and industrial. In 2023, the commercial segment dominated the market with the largest market share of 41% and revenue of 4.10 billion.
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Advancement in market
Bona US unveiled Bona QUANTUM FLOW, its most recent invention. This silane-based, one-component, versatile wood floor glue is pourable and offers contractors a quick and simple application method. The entire Bona range of zero VOC flooring adhesives, which includes the brand-new Bona QUANTUM FLOW, is certified by the strict GREENGUARD Gold Program. It is also perfect for usage in business settings due to its acoustical sound deadening qualities. Bona Quantum FLOW guards against warping and buckling brought on by gradual variations in humidity. In addition, it has a much stronger bond than conventional adhesives now available on the market, making it incredibly durable.
Market Dynamics
Driver: The growing construction.
The need for homes, workplaces, hospitals, schools, malls, and hotels has expanded as a result of the population growth and fast urbanisation. This need is made possible by rising disposable money. The rise in building and construction has also been aided by the rising public spending on infrastructure projects like as roads, bridges, airports, train and metro stations, hospitals, and schools in an effort to promote economic growth. Another factor influencing the market is private investment in commercial real estate. Floor adhesives are needed for each of these structures. The regulatory obligation, which encourages floor adhesives for secure and safe constructions, also aids in the market's expansion. Thus, the growing building and construction industry will propel the expansion of the worldwide floor adhesive market.
Restraints: Application difficulties.
The application of adhesives and tile fastening are equally significant as the quality of the tiles and adhesives. The surface that will be applied on needs to be carefully prepared. Everything about the procedure, from cleaning to curing, is very precise. The flooring will be strong enough to endure environmental stress if it is applied properly. Before applying, environmental factors like temperature and humidity levels in the surrounding area should be taken into account as they can have a big impact on the process and the finished product. It's also crucial to prepare the glue using the proper mixture. It's also critical to align the tiles precisely and provide the proper pressure to prevent air bubbles from forming. These actions all call for expertise and training. As a result, obstacles to application will impede market expansion.
Opportunities: Technological developments.
As the need for floor adhesives grows, more research and development is being done to enhance flood adhesives. The developments have produced floor adhesives with improved strength, resilience to moisture, and longevity. Because of their versatility, modern floor adhesives can be used in a wider range of settings than just traditional buildings. Better application methods and shorter cure times were among the results of it. Additionally, it has prompted the creation of sustainable and environmentally friendly materials. As a result, floor adhesives with improved features and qualities have overcome their present limitations to increase their use, which will support the market's future growth. This is due to technical advancements.
Challenges: Concerns about energy consumption.
The production, transportation and application of floor adhesives all are energy intensive. The disposal also causes environmental damage. the materials used are not eco-friendly. They are harmful for human health as well as the environment. The energy consumption, contribution to greenhouse gas emissions, landfill, wastage, disposal, pollution and other health and environmental concerns will challenge the market’s growth.
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Some of the major players operating in the global floor adhesive market are:
• 3M
• Bona
• Bostik
• DAP
• H.B. Fuller
• MAPEI
• Pidilite Industries
• Rohm and Haas
• Sika
• Tarkett
Key Segments covered in the market:
By Resin Type
• Epoxy
• Polyurethane
• Acrylic
• Vinyl
• Others
By Technology
• Water-Borne
• Solvent-Borne
• Others
By Application
• Tiles and Stones
• Carpets
• Woods
• Laminates
• Resilient Flooring
• Others
By End-User
• Residential
• Commercial
• Industrial
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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