2024 Flooring Adhesive Market Report : Market Size, Growth Drivers, And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Flooring Adhesive Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The flooring adhesive market size has grown strongly in recent years. It will grow from $7.92 billion in 2023 to $8.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growth in the construction industry, renovation and remodeling, health and wellness considerations, environmental regulations, economic stability.

The flooring adhesive market size is expected to see strong growth in the next few years. It will grow to $11.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to green building practices, e-commerce growth, infrastructure development, changing consumer preferences, green and sustainable adhesives,. Major trends in the forecast period include technological advancements, digital and online sales, smart flooring adhesives, customized adhesives, recycled and circular economy practices.

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Market Drivers and Trends:

The increase in infrastructural development in emerging countries has contributed significantly to the growth of the flooring adhesives market. With an increase in the global population, there has been an increased demand for housing, which in turn increased the demand for flooring adhesives for various applications such as floor fixing, roof fixing, and fixing panels. Flooring adhesive can also be mixed into the cement for better adhesion. The governments of emerging countries such as Brazil and India have been investing in residential construction in order to provide affordable housing for all. According to the World Bank, in South Asia, the urban population is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world's population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for infrastructure and drive the flooring adhesives market.

Flooring adhesives companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment, focusing on reducing volatile organic compounds (VOC) emissions. Building materials, for example, emit highly volatile organic compounds (VOCs) when exposed to high temperatures or high moisture levels. Adhesive companies can now produce products using natural raw materials such as starch, resins, lignin, and proteins thanks to advancements in technology and chemical sciences. These materials ensure that the products have a lower carbon footprint. Biodegradable adhesives are prepared to be broken down by microorganisms and bacteria. The degrading process produces carbon dioxide, water and other natural gases defined by the environment. Companies are emphasizing green construction, which refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact. For example, BASF, a German multinational chemical company, has developed new binders for flooring adhesives under their ACRONAL line that offer exceptional performance while minimizing environmental impact.

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Major Key Players of the Market:

Mapei S.p.A., Sika AG, Henkel AG & Co. KGaA, Dow Inc., Wacker Chemie AG, Bostik SA, Forbo Holding AG, Pidilite Industries Limited, H.B. Fuller, LATICRETE International Inc., Dupont De Nemours Inc., Parker-Hannifin Corp, Arkema Group, Tesa SE, 3M Company, Illinois Tool Works Inc., TecDura Surface Protection Systems, Ardex GmbH, Franklin Adhesives and Polymers, Ashland Inc., Akzo Nobel N.V., BASF SE, Bona AB, DAP Products Inc., Huntsman Corporation, ITW Performance Polymers, Jowat SE, LORD Corporation, Mactac Americas, Momentive Performance Materials Inc., Permabond LLC, Royal Adhesives & Sealants, RPM International Inc., Soudal Holding NV, Super Glue Corporation

Flooring Adhesive Market 2024 Key Insights:

• The flooring adhesive market size is expected to see strong growth in the next few years. It will grow to $11.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Economic Growth Fuels Infrastructural Development And The Flooring Adhesives Market
• Flooring Adhesive Companies Embrace Eco-Friendly Practices And Biodegradable Solutions
• Asia-Pacific was the largest region in the flooring adhesives market in 2023

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