“Increasing demand for residential properties to drive the tile adhesives & stone adhesives market”
The market size of tile & stone adhesives was USD 2.37 billion in 2015 and is projected to reach USD 4.10 billion by 2021, registering a CAGR of 9.4% between 2016 and 2021. The market is largely driven by huge residential construction activities in regions such as Asia-Pacific, the Middle East & Africa, and Latin America. In addition, the rising awareness about the benefits of tile adhesives is fueling the demand.
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“New construction is the fastest-growing segment of the tile adhesives & stone adhesives market”
Almost 65%–70% of the overall demand for tile & stone adhesives is expected from new construction activities, as developed economies have planned to invest heavily in the residential and institutional markets. Huge demand for tile & stone adhesives is expected from countries such as Saudi Arabia, Qatar, Oman, and Kuwait in the next five years as a result of huge projects related to hospitals and hotels are planned.
“Asia-Pacific to dominate the tile adhesives & stone adhesives market during the forecast period”
China is the largest market for tile & stone adhesives, globally. Huge investments, rising commercial activities, and renovations in institutional constructions will fuel the demand for tile & stone adhesives in the Asia-Pacific region. Countries such as Vietnam and Malaysia are fastest-growing markets due to growing infrastructure activities in the region.
In the process of determining and verifying the market size for the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
• By Company Type: Tier 1 (70%), Tier 2 (20%), and Tier 3 (10%).
• By Designation: C-level (20%), Director Level (35%), and Others (45%).
• By Region: North America (15%), Europe (25%), Asia-Pacific (30%), Latin America (10%), and the Middle East & Africa (20%).
Various key players profiled in the report include Ardex GmbH (Germany), Bostik Inc. (France), SIKA (Switzerland), H.B. Fuller (U.K.), Pidilite (India), Laticrete International (U.S.), Saint-Gobain Weber (France), and Mapei (Italy).
Related Report:
Floor Adhesive Market by Type (Epoxy Urethane Acrylic and Vinyl) Application (Tile & Stone Carpet Wood and Laminate) Technology (Water-based Solvent-based and Hot-melt based) and Region - Global Forecast to 2022
“The increasing demand for diverse types of flooring materials in the residential, commercial and industrial sectors are expected to drive the growth of the floor adhesive market during the forecast period from 2017 to 2022”
The floor adhesive market is projected to reach USD 11.01 billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The growth of the floor adhesive market is driven by the increasing use of several types of flooring materials in the residential, commercial, and industrial sector. However, stringent government regulations pertaining to the VOC content in floor adhesive can restrain the growth of the floor adhesive market.
“Based on type, the epoxy segment of the floor adhesive market is projected to witness the highest growth during the forecast period”
The excellent properties of the epoxy adhesives, such as quick curing, a solvent-less system, and consumer friendly usage are expected to drive the demand for this type of adhesives in the coming years. Epoxy adhesives form an extremely strong and durable bond with most materials.
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