SAN FRANCISCO, February 16, 2022 /PRNewswire/ — The global flooring adhesives market size is expected to reach $7.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 6.8% from 2021 to 2028. The market is expected to be boosted by the growing emphasis on luxury homes and increasing investment in the construction sector.
Main information and conclusions of the report:
- By resin, the acrylic segment held the largest revenue share of over 41.0% in 2020. This is attributable to the growing demand for the adhesion product of substrates, which are difficult to bond.
- The resilient segment is expected to register the fastest growth rate of 6.7% in terms of revenue, during the forecast period. The growth is attributed to the increasing need for resilient flooring in high traffic areas such as schools, offices, restaurants, hospitals and gymnasiums.
- The commercial segment held the largest revenue share of more than 34.0% in 2020. The increasing construction of commercial buildings such as office spaces, pharmacies, shopping malls and convenience stores has a positive impact on the growth of the segment.
- Asia Pacific dominated the market and accounted for a revenue share of more than 38.0% in 2020. Growing investment in the construction sector of developing economies in the region is expected to augment the market growth during the period of forecast.
Read the 130-page Market Research Report, “Resin Flooring Adhesives (Acrylic, Polyurethane, Polyvinyl Acetate) Market Size, Share and Trend Analysis Report, by Application, by End Use (Residential, Commercial, Industrial), By Region and Segment Forecast, 2021 – 2028”, published by Grand View Research.
Flooring Adhesives Market Growth and Trends
Flooring is an integral part of residential or commercial buildings because no other part is exposed to more wear and tear. Therefore, it must be durable and must match the decor. Wood and resilient flooring have gained considerable importance in luxury construction. Rising investment in luxury construction is expected to increase the demand for flooring which, in turn, is expected to increase the need for adhesives over the forecast period.
For example, luxury vinyl flooring is growing in popularity because it offers softer and quieter feet, many design choices, easier installation, easy replacement, realistic wood look and appeal. , are easy to clean and maintain, and are ideal for residential and commercial applications.
Growing demand for luxury accommodations in European countries is one of the major drivers of market growth. Almost all medium and large cities such as Lisbon, Port, Paris, Berlin, Frankfurt, Milanoand Madrid are witnessing an increase in luxury real estate investments. For example, Mareterra, a luxury housing project is being developed in monaco City. The six-hectare reclamation project with 125 luxury homes is set to open in 2024.
The growth of the flooring industry is forcing adhesive manufacturers to expand their presence through mergers and acquisitions and capacity expansions. For example, in March 2021Sika AG has announced the acquisition of the flooring adhesives vertical of DriTac, a US-based flooring adhesives company. The acquisition aims to expand Sika’s presence in the US interior finishing market and among flooring installers and distributors.
Flooring Adhesives Market Segmentation
Grand View Research has segmented the global flooring adhesives market based on resin, application, end-use, and region:
Flooring Adhesive Resins Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- polyvinyl acetate
Application Outlook of Flooring Adhesives (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Resilient flooring
- Wood floor
- Laminate flooring
Flooring Adhesives End-Use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
Flooring Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of Key Players of Flooring Adhesives Market
- Forbo Holdings AG
- H. B. Fuller Company
- Henkel AG & Co. KGaA
- LATICRETE International, Inc.
- MAPEI Spa
- PARKER HANNIFIN CORP
- Pidilite Industries
- Sika S.A.
Check out other related studies published by Grand View Research:
- Resilient Flooring Market – The global resilient flooring market size is expected to reach $67.7 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to grow at a CAGR of 7.2% from 2021 to 2028. The benefits of the product including cost effectiveness, reduced maintenance and improved aesthetics, are expected to drive the demand for resilient flooring over the forecast period.
- Flooring market – Global Flooring Market size was valued at $388.24 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028. Rising government spending on infrastructure development is expected to play an important role in increasing demand for flooring.
- commercial flooring market – The global commercial flooring market size is expected to reach approximately $47.69 billion by 2025, according to a new report by Grand View Research, Inc. A growing number of corporate offices in emerging economies, including China, Indiaand Mexico due to the regulatory trend to promote domestic manufacturing is expected to remain a driving factor over the next eight years.
Browse research reports on the advanced materials industry from Grand View Research.
About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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