Press release
Flooring Adhesive Market Demonstrates Strong Growth Trajectory, Expected to Reach $11.47 Billion by 2028
Experiencing robust expansion, the flooring adhesive market is set to grow from $7.92 billion in 2023 to $8.59 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 8.5%. Anticipated to maintain its vigorous growth, the market is forecasted to reach $11.47 billion by 2028, with a CAGR of 7.5%.
Key Growth Drivers:
Economic Growth Propels Infrastructural Development, Driving Flooring Adhesive Demand:
The flooring adhesive market has witnessed substantial growth, attributed to increased infrastructural development in emerging countries. The surge in global population has amplified the demand for housing, leading to a notable increase in flooring adhesive applications for floor, roof, and panel fixing. Governments in countries like Brazil and India are investing in residential construction to meet the growing demand for affordable housing. Rapid urbanization, with 60% of the world's population expected to reside in cities by 2030, according to PwC, further fuels the demand for flooring adhesives.
Construction Sector's Ascendance Boosts Flooring Adhesive Market:
The ascendancy of the construction sector is a significant factor driving the growth of the flooring adhesive market. Playing a crucial role in construction projects, flooring adhesives ensure the proper installation, stability, and longevity of various floor coverings in residential, commercial, and industrial spaces. With global construction output projected to increase by 42%, reaching $15.2 trillion by 2030, as reported by Oxford Economics, the rise in the construction sector contributes to the market's expansion.
Explore the Global Flooring Adhesive Market with a Detailed Sample Report:
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Major Players:
Prominent companies operating in the flooring adhesive market include Mapei S.p.A., Sika AG, Henkel AG & Co. KGaA, Dow Inc., and others.
Trends Shaping the Market:
Eco-Friendly Practices and Biodegradable Solutions Transform Flooring Adhesive Industry:
Flooring adhesive companies are adopting sustainable and eco-friendly practices to minimize the environmental impact of chemical manufacturing, particularly in reducing volatile organic compounds (VOC) emissions. Advancements in technology and chemical sciences enable the production of adhesives using natural raw materials, promoting lower carbon footprints. The emphasis on green construction aligns with the industry's commitment to sustainability. For instance, BASF has introduced binders for flooring adhesives under their ACRONAL line, focusing on exceptional performance with minimal environmental impact.
Innovation with STIX A600 EVOLUTION for Safer and Sustainable Flooring Installations:
Major companies are innovating new products to enhance their market position. STIX A600 EVOLUTION, a high-performance, solvent-free acrylic adhesive launched by Bostik, exemplifies such innovation. This sustainable adhesive is designed for various settings, including hospitals and high-stress environments, promoting safer and ecologically responsible flooring installations by eliminating solvents, phthalates, and isocyanates.
Regional Insights:
Asia-Pacific emerged as the largest region in the flooring adhesive market in 2023, and it is expected to be the fastest-growing region in the forecast period. Comprehensive regional coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The flooring adhesive market covered in this report is segmented -
1) By Type: Urethane, Epoxy, Acrylic, Vinyl, Other Types
2) By Technology: Water-Based Adhesive, Solvent-Based Adhesive, Hot-Melt Based Adhesive
3) By Application: Tile & Stone, Carpet, Wood, Laminate, Other Applications
4) By End User: Residential, Commercial, Industrial
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/flooring-adhesive-global-market-report
Flooring Adhesive Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Flooring Adhesive Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on flooring adhesive market size, flooring adhesive market drivers and trends, flooring adhesive market major players, competitors' revenues, flooring adhesive market positioning, and flooring adhesive market growth across geographies. The flooring adhesive market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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https://www.thebusinessresearchcompany.com/report/hard-surface-flooring-global-market-report
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