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U.S. Tile Adhesive Market 2022 Expected To Reach Highest CAGR By 2030 : Bostik , Custom Building Products , H.B. Fuller , PAREX Group SA etc.
U.S. Tile Adhesive Market 2022-2030
In competitive landscape, the MRFR studies the key developments adopted by the companies between 2022 and 2030. Players in this market adopted various strategies to expand their footprint and augment their market share. The key strategies followed by most companies in the U.S. tile adhesive market were agreements and collaborations, mergers and acquisitions, joint ventures and expansion. Due to growing demand of tile adhesive in Asia Pacific region, the manufacturers in European region are using acquisition strategy in the Asia Pacific and U.S. market.
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Bostik , Custom Building Products , H.B. Fuller , PAREX Group SA , Sika AG , ARDEX Group , Terraco , Pidilite Industries Ltd , Mapei S.p.A , Henkel AG & Co. KGaA , and Saint-Gobain Weber among others are some of the prominent players at the forefront of competition in the U.S. Tile Adhesive Market and are profiled in MRFR Analysis.
Tile Adhesive Market – Overview:
Tile adhesive is a non-metallic substance which is able to join two substrates using adhesion mechanisms (developed between the adhesive and substrate) and cohesive mechanism (developed within the adhesive itself). They have ultimate flexibility, high bond strength, shock & impact and chemical resistance. Tile adhesives are used to install tiles in residential and commercial buildings on floors or on walls. The U.S. tile adhesive market is expected grow substantially and register a healthy CAGR during the anticipated period (2022 – 2030).
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The need for tile adhesive in US is gradually rising owing to factors such as, growing demand of ceramic and thin porcelain decorative tiles, increase in residential housing projects and boom in non-residential projects. US tile adhesive market growth is estimated to witness high demand in near future. On the basis of type, cementicious tile adhesive accounted the largest market value share in 2016, the segment is anticipated to grow at highest CAGR due to its modified properties and low price in comparison to other adhesives. Cementicious adhesive segment is followed by dispersion adhesive and reaction resin adhesive.
On basis of end user, residential segment accounted for largest market share of 54.9%, the segment is anticipated to grow at healthy CAGR during the forecast period due to increase in residential construction activities.
However, lower profit margins due to the usage of low-cost chemicals may restrain the market in future.
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Industry/ Innovation/ Related News:
April 2016 – Bostik expanded its cementitious powder production capacities in Philippines, based on its world-class Polymer Modified Binder (PMB) technology. With this expansion, Bostik will be able to serve tile adhesive to construction customers. The expansion would help Bostik to increase its market share and give strong competition to Custom Building Products, one of the giant in tile adhesive in U.S.
April 2016 – Parex Group acquired Quartzobra, Brazilian tile setting material producer which has been generating yearly revenue of USD 7.15 million. The acquisition has been made by eyeing strong country based operations in Brazil for tile ashesives. The acquisition strategy would help Parex Group to increase its market share in Latin America region.
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