Driven by the growing North American construction industry, North American Floor Adhesives Market is expected to grow beyond US$ 1,097.9 million

Market & Growth Prognosis: Analyzing the market over a period of 2012-17 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the North American Floor Adhesives Market during the period 2018-23.

Stratview Research triangulates the market to grow at a healthy CAGR over the next five years and expects the market to breach the barrier of US$ 1,097.9 million by 2023.

The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of North American Floor Adhesives has been viewing from various perspectives such as:

Dissection By (Segments)
1. Material Type (Epoxy Adhesive, Acrylic Adhesive, Polyurethane Adhesive, Vinyl Adhesive, Others)
2. Application Type (Tile & Stone, Carpet, Wood, Laminate, Vinyl Flooring, Others)
3. Technology Type (Water Based Adhesives, Solvent-Based Adhesive, Other Adhesives)
4. End-User Type (Residential Use, Commercial Use, Industrial Use)
5. By Region (The USA, Canada, Mexico)

Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.

The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?

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The Factors Driving the market

The North American floor adhesives market is projected to reach an estimated value of US$ 1,097.9 million in 2023. The upward trajectory of the floor adhesives market in the region is likely to continue with attractive growth opportunities in the entire ecosystem of the market in the coming years. Growing North American construction industry, an increasing consumption of adhesives in North America, increasing usage of water-based adhesives in order to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are the driving factors that are burgeoning the growth of floor adhesives in the North American market.

The market dynamics of floor adhesives in North America is different than that of other parts of the world. The region has an overall high penetration of adhesives in flooring applications as compared to Asia-Pacific, which is the largest flooring adhesives market. Also, the per capita consumption of floor adhesives is quite higher in North America as compared to that of Asia-Pacific.

The rise of Acrylic adhesives

The North American floor adhesives market is segmented based on the material type as Epoxy Adhesives, Polyurethane Adhesives, Acrylic Adhesives, Vinyl Adhesives, and Other Adhesives. Polyurethane adhesives currently dominates the North American floor adhesives market, driven by its higher usage in wood flooring applications. Acrylic adhesives are likely to witness the highest growth during the same period, owing to their increased usage in LVT flooring and carpet applications.

Based on the application type, wood flooring is likely to be the dominant application type in the North American floor adhesives market during the forecast period. There is an increasing usage of adhesives instead of mechanical fastening systems in the wood flooring application. Wood flooring requires more adhesive content per square feet, which further elevates the demand for adhesives in the segment. Vinyl flooring application is expected to witness the highest growth during the forecast period, driven by an increasing demand for luxury vinyl tiles (LVT) in North America.

The North American floor adhesives market is segmented based on the technology type as Water-based Adhesives, Solvent-based Adhesives, and Other Adhesives. Water-based technology currently dominates the North American floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period, driven by stringent regulations regarding reducing VOC emissions in order to create safer environment.

Driven by demand, USA has the hegemony over the market

Based on regions, the North American floor adhesives market is further segmented as the USA, Canada, and Mexico. The USA is likely to maintain its leading position in the region during the forecast period, whereas Mexico is expected to witness the highest growth in the foreseeable future.

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