Global Floor Adhesives Market Projected to Reach $12.8 Billion by 2023 at a CAGR of 5.8%: Low VOC and Eco-Friendly Materials Drive Demand

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Oct 05, 2023, 06:45 ET

DUBLIN, Oct. 5, 2023 /PRNewswire/ -- The "Floor Adhesive Market by Type (Epoxy, Polyurethane, Acrylic, and Vinyl), Application (Tile & Stone, Carpet, Wood, and Laminate), Technology (Water-based, Solvent-based and Hot-melt based), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global floor adhesives market is set to experience substantial growth, with its market size expected to increase from USD 9.7 billion in 2023 to USD 12.8 billion at a CAGR of 5.8%.

This surge in demand for floor adhesives is fueled by a compelling mix of factors, with a prominent driver being the escalating preference for low Volatile Organic Compounds (VOC) and eco-friendly materials within the construction landscape.

One of the notable segments in the floor adhesives market is the water-based adhesives, expected to register one of the highest market shares during the forecast period. Water-based adhesives are preferred for flooring due to their eco-friendly properties, lower VOC emissions, excellent bonding strength, and resistance to temperature fluctuations and moisture. This makes them a safe and durable choice for various flooring materials.

Another significant segment is epoxy resin, expected to register one of the highest CAGRs during the forecast period. Epoxy resins are known for their high chemical and heat resistance, making them suitable for a wide range of applications, including adhesives and coatings. Epoxy resin adhesives are strong and long-lasting, making them a popular choice for flooring and countertops.

In Europe, the floor adhesives market is estimated to capture one of the highest shares in terms of volume during the forecast period. The region's growth can be attributed to its evolving construction landscape, regulatory imperatives, and shifting consumer preferences, all contributing to the expansion of the floor adhesives sector.

The market dynamics include several premium insights and key market trends:

Premium Insights:

High Demand from Residential End-use Industry in Emerging Economies to Drive Market Growth.
Epoxy to Lead the Market During the Forecast Period.
Residential and China Recorded the Highest Growth in 2022.
Emerging Economies Expected to Grow Faster Than Developed Countries.
India to Record the Fastest Growth During the Forecast Period.

Market Dynamics:

Drivers:

Growth of the Building and Construction Sector.
Impact of Low VOCs and Eco-Friendly Floor Adhesives.
Versatility, Safety, and Ease of Application.

Restraints:

Escalating Raw Material Prices.

Opportunities:

Investments in Emerging Markets.
Increased Industrial Activity due to Globalization.

Challenges:

Supply Chain Disruption and Increased Compliance.

The following companies play a significant role in the global floor adhesives market:

3M
Akzonobel N.V.
Ardex GmbH
Arkema (Bostik)
Ashland
Astral Adhesives
Dow, Inc.
Forbo Group
Franklin International
Gekko Flooring Adhesives
H.B. Fuller Company
Henkel AG & Co. KGaA
Interface, Inc.
Jowat SE
Laticrete International, Inc.
Mapei S.P.A.
Nexus Adhesives
Pidilite Industries Ltd.
Q.E.P. Co. Inc.
Sakshi Chem Sciences
Selena Fm SA
Sika AG
Stauff
Terraco Holdings Ltd.
Wacker Chemie AG

For more information about this report visit https://www.researchandmarkets.com/r/ugkh83

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