Floor Adhesives Market Size, Share, Growth, Industry Trends and Forecast 2028

The global floor adhesives market size was valued at USD 63.7 billion in 2021 and is expected to grow at a CAGR of 3.7% during the forecast period 2022 to 2028. The floor adhesives market refers to the industry that produces adhesives for flooring applications. These adhesives are used to secure and hold flooring materials such as tiles, carpets, vinyl, and wood in place. The market for floor adhesives is driven by the growth in the construction and renovation industries, where adhesives are used for various flooring applications in residential, commercial, and industrial settings. Floor adhesives are available in various forms such as water-based, solvent-based, and reactive types, and they are formulated to provide strong and durable bonds between flooring materials and subfloors. They are designed to withstand various environmental conditions such as temperature changes, moisture, and heavy foot traffic, ensuring long-lasting performance and safety.

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Floor Adhesives Market Growth Factors:
The increasing demand for luxurious interiors, coupled with rising disposable income of consumers, has led to a surge in demand for premium construction in developing countries. Flooring applications in the construction industry, such as carpet laying, ceramic tiles, flooring underlayment, concrete, and pre-finished panels, among others, require a substantial volume of adhesives. Consequently, the expanding construction industry is a crucial factor driving the growth of the global floor adhesives market. Although the COVID-19 pandemic had a severe impact on the construction sector during the first half of 2020, construction spending picked up in the second half of 2020 after the ease of lockdowns. To boost economic growth, private investors and government bodies are undertaking several housing projects that are expected to drive the growth of the floor adhesives market.

Floor Adhesives Market Segmentation:
1) By Type: Epoxy, Urethane, Acrylic, Vinyl, Others
2) By Application: Tile & Stone, Carpet, Wood, Laminate, Others
3) By Technology: Water-Based Adhesive, Solvent-Based Adhesive, Hot-Melt Based Adhesive
4) By End User: Residential, Commercial, Industrial.

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Floor Adhesives Market Regional Analysis:
The revenue of the North American flooring adhesive market is projected to grow at a CAGR of 7.3% during the forecast period. The region's focus on residential and institutional construction activities is expected to boost the demand for flooring adhesives in North America during the forecast period. The fiscal stimulus led by the U.S. government in 2018-19 increased business confidence in the country and supported continuous construction spending, which contributed to the market's growth in the U.S.

With a share of 43.6% of the global market in 2020, the Asia Pacific is expected to continue its dominance in the flooring adhesive market during the forecast period. The market is anticipated to grow at a CAGR of 7.0% in terms of volume. The increasing demand for flooring adhesives in the housing sector of countries like China and India is expected to be a major driver for market growth in the region in the coming years.

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The floor adhesives market key players are Mapei S.p.A. (Italy), Sika AG (Switzerland), Henkel AG (Germany), The Dow Chemical Company (U.S.), Wacker Chemie AG (Germany), ostik SA (France), Forbo Holdings AG (Switzerland), Pidilite Industries Limited (India)

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