Global Floor Adhesive Market - 2020-2027
発行: DataM Intelligence
ページ情報: 英文 180 Pages
The global floor adhesive market size valued USD XX billion in 2019 and is estimated to reach USD XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Flooring adhesive is a strong, permanent glue for adhering flooring materials to underlayment or subfloor. Different adhesives are recommended for different flooring types, such as noise reduction membranes, porcelain tiles, ceramic tiles, resilient tile and wood flooring of all types and sizes.
Floor adhesives have extensive application across industrial, residential, and commercial industries due to their superior adhesion properties and cost-effectiveness, making them preferable in the current growing market.
The growing industrialization and urbanization owing to advancement in the infrastructure and growing population as well have propelled the construction industry, resulting in, positive impact on the floor adhesive market during the forecast period.
Long term demand from the building and construction sector is expected to drive the market of floor adhesive
The building and construction sector requires different adhesives for applications such as ceramic tile and stone, carpet, flooring underlayment and resilient flooring. According to the World Economic Forum, the construction sector accounts for 6% of the global GDP, with around USD 10 trillion. With increasing population and housing demand, the industry is projected to witness constant growth in the long run, providing opportunities for flooring adhesives companies.
Moreover, rapid industrialization and urbanization in the world because of the growing population have increased the construction industry, which will positively impact the floor adhesive market size during the forecast period.
Stringent environmental regulations regarding the Volatile Organic Compounds (VOC) emissions are likely to hinder the floor adhesive market
Environmental regulations and specifications from international bodies, federal state, local governments and different NGOs are becoming prevalent. For instance, CARB (California Air Resources Board) regulations and LEED (Leadership in Energy and Environmental Design) certification requirements are required at the forefront of regulatory issues involving adhesives. Both the bodies limit generated VOCs and formaldehyde in adhesives. Depending on the amount and type of VOCs emitted, these can disrupt ecosystems and have crippling effects on the environment, such as global warming, acid rain and several serious health issues.
Based on type, the floor adhesive market is segmented into urethane, epoxy, acrylic and vinyl adhesive.
Urethane adhesive is anticipated to dominate the segment owing to its extensive applications in various substrates such as concrete, wood, plastics and glass.
Urethane adhesives are one of the most important types of structural adhesives. Unlike epoxy or acrylic adhesives, urethane adhesives are formulated with much lower viscosity. Also, urethane adhesives are offered as either one-component (1k) or two-component (2k) systems.
Moreover, Urethane adhesives have low odor, deliver fast or slow cure times, and combine high toughness, flexibility and strength, making these adhesives an ideal choice for joining lightweight and structural assemblies. Due to multiple properties, urethane adhesive has a wide range of applications.
As per the Statista study, the global demand for urethane adhesives and sealants for the automotive industry was 230 thousand tons in 2017. It is projected to increase to 250 thousand tons in 2022.
Henceforth, with increasing global demand and extensive applications in different industries such as construction, transportation, manufacturing and many others, urethane is projected to dominate the forecast period.
Asia-Pacific dominates the floor adhesive market with the growing construction and infrastructure industries in countries like China and India
Asia-Pacific region dominates the global floor adhesives market share with growing construction activities in countries such as China, India and other ASEAN Countries. For instance, the Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. As per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year. In 2017, the Indian government announced an investment worth USD 31,650 billion to construct 100 cities under the smart cities plan. Over the five years, one hundred smart cities and 500 cities are likely to invite investments worth ~USD 28.18 billion. Approximately, 9% of India's GDP is spent on infrastructural services. India's government has given enormous momentum to the infrastructural sector by allocating ~USD 92.22 under the Union Budget 2018-2019. Hence, with the growing construction activities and infrastructure, floor adhesives' demand is expected to increase over the forecast period rapidly.
The floor adhesive market is moderately competitive with the presence of local as well as global companies. Some of the key players contributing to the growth of the market include BASF SE, Sika AG, 3M, Dow, Akfix, H.B. Fuller, Advanced Adhesive Technologies Inc., MAPEI S.p.A., Bostik, Henkel Adhesives Technologies India Private Limited, among others. The major players have several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the growth of the floor adhesive market globally.
Overview: BASF SE is a German multinational chemical company. It is the largest chemical-producing country in the world. The company headquarters is in Ludwigshafen, Germany. The company has subsidiaries and joint ventures in more than 80 countries.
Product Portfolio: BASF SE has products in various industries such as agriculture, automotive & transportation, chemicals, construction, electronics & electric and many more. Floor adhesive is in the 'Floor Covering Solutions' segment. The company produces five types of adhesive in floor adhesive, namely, carpet and vinyl feltback adhesive, wood floor adhesive, vinyl composite tile adhesive, ceramic tile & mastics and laminate & vinyl floor adhesive.
The global floor adhesive market report would provide access to an approx: 69 market data table, 63 figures and 240 pages.
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