Tile Adhesive Market Project Report, Raw Materials, Manufacturing Process, Business Plan, Industry Trends

Market Highlights:

Remarking on this report, an analyst from Market Research Future (MRFR)'s team said, the global tile adhesives market is predicted to grow at a healthy CAGR to reach USD 3338.2 million by the end of 2023. The increase in residential construction activities and growth in infrastructural development are the major drivers of the global tile adhesives market. Rapidly growing building & construction sector coupled with rising per capita disposable income in developed and developing countries across the globe are predicted to fuel the growth of the market over the estimated period. However, the threat of substitution by polymer-based tile adhesive and low-profit margin for manufacturers may challenge the market growth.

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Segment Analysis

The tile adhesives market is segmented on the basis of type, polymer chemistry, application, end-use, and region. On the basis of the type, the market is segmented into cementitious, dispersion, and reactive tile adhesive. Among these, cementitious type accounted for around 70.2% market share in terms of value in 2017. The demand for cementitious tile adhesives is increasing due to its low price as compared to other tiles. Based on the polymer chemistry, the market is segmented into acrylic, vinyl acetate ethylene, have-veova, epoxy, styrene butadiene, polyurethane, and others. The acrylic is the leading segment due to its chemical and corrosion resistant properties. The acrylic segment was valued at USD 596.1 million in 2017 and is projected to grow at a CAGR of 9.31% over the review period. On the basis of the application, the global market is segmented into ceramic tile, vitrified tiles, natural stone, mosaic, and glass. The ceramic tiles dominated the market with a share of about 55% in 2017. Furthermore, the market is segmented based on the end-use industries as residential, commercial, and institutional. Among these, the residential segment was the leading in 2017 and is projected to grow at a healthy CAGR of 9.47% during the forecast period.

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Regional Analysis

Regionally, tile adhesives market is classified into five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominated the global tile adhesives market in 2017 and accounted for more than 45.8% of the value share of the global tile adhesives market followed by Europe and North America. Furthermore, the construction sector across the globe is expected to propel the market growth during the review period, 2017-2023. The other emerging markets such as Latin America and the Middle East & Africa seems to observe a significant market growth over the review period 2017-2023.

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This release was published on openPR.