The Flooring Adhesive Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Flooring Adhesive Global Market Report 2024, The flooring adhesive market size has grown strongly in recent years. It will grow from $7.92 billion in 2023 to $8.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growth in the construction industry, renovation and remodeling, health and wellness considerations, environmental regulations, economic stability.
The flooring adhesive market size is expected to see strong growth in the next few years. It will grow to $11.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to green building practices, e-commerce growth, infrastructure development, changing consumer preferences, green and sustainable adhesives,. Major trends in the forecast period include technological advancements, digital and online sales, smart flooring adhesives, customized adhesives, recycled and circular economy practices.
The increase in infrastructural development in emerging countries has contributed significantly to the growth of the flooring adhesives market. With an increase in the global population, there has been an increased demand for housing, which in turn increased the demand for flooring adhesives for various applications such as floor fixing, roof fixing, and fixing panels. Flooring adhesive can also be mixed into the cement for better adhesion. The governments of emerging countries such as Brazil and India have been investing in residential construction in order to provide affordable housing for all. According to the World Bank, in South Asia, the urban population is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world’s population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for infrastructure and drive the flooring adhesives market.
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The flooring adhesive market covered in this report is segmented –
1) By Type: Urethane, Epoxy, Acrylic, Vinyl, Other Types
2) By Technology: Water-Based Adhesive, Solvent-Based Adhesive, Hot-Melt Based Adhesive
3) By Application: Tile & Stone, Carpet, Wood, Laminate, Other Applications
4) By End User: Residential, Commercial, Industrial
Flooring adhesives companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment, focusing on reducing volatile organic compounds (VOC) emissions. Building materials, for example, emit highly volatile organic compounds (VOCs) when exposed to high temperatures or high moisture levels. Adhesive companies can now produce products using natural raw materials such as starch, resins, lignin, and proteins thanks to advancements in technology and chemical sciences. These materials ensure that the products have a lower carbon footprint. Biodegradable adhesives are prepared to be broken down by microorganisms and bacteria. The degrading process produces carbon dioxide, water and other natural gases defined by the environment. Companies are emphasizing green construction, which refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. For example, BASF, a German multinational chemical company, has developed new binders for flooring adhesives under their ACRONAL line that offer exceptional performance while minimizing environmental impact.
The flooring adhesive market report table of contents includes:
- Executive Summary
- Flooring Adhesive Market Characteristics
- Flooring Adhesive Market Trends And Strategies
- Flooring Adhesive Market – Macro Economic Scenario
- Global Flooring Adhesive Market Size and Growth
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- Global Flooring Adhesive Market Competitive Benchmarking
- Global Flooring Adhesive Market Competitive Dashboard
- Key Mergers And Acquisitions In The Flooring Adhesive Market
- Flooring Adhesive Market Future Outlook and Potential Analysis
- Appendix
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