Floor Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Floor Adhesives Market is segmented by Resin Type (Epoxy, Polyurethane, Acrylic, Vinyl, and Other Resin Types), Technology (Water-borne, Solvent-borne, and Other Technologies), Application (Tile and Stone, Carpet, Wood, Laminate, Resilient Flooring, and Other Applications), End-user Industry (Residential, Commercial, and Industrial), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Floor Adhesives in revenue (USD million) for all the above segments.

Floor Adhesives Market Snapshot

Floor Adhesives Market - Market Summary
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.76 %

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Market Overview

The global floor adhesives market was valued at USD 1,763.51 million in 2021 and is projected to register a CAGR of 4.76% during the forecast period (2022-2027).

  • Major factors driving the market studied are the rapidly growing global construction industry and the versatility, safety, and ease of application of floor adhesives.
  • On the flip side, hazardous health effects due to VOC emissions hinder the market's growth.
  • The epoxy segment dominated the Floor Adhesives Market and is expected to grow during the forecast period owing to the increasing demand from the commercial segment across the globe.
  • Increasing Demand for Bio-based floor Adhesives will likely act as an opportunity in the future.
  • Asia-Pacific dominated the market across the globe, with the largest consumption coming from China, India, and Japan.

Scope of the Report

Floor adhesive is any type of strong, permanent glue for adhering flooring materials to a subfloor or underlayment. The floor adhesives market is segmented by resin type, technology, application, end-user industry, and geography. By resin type, the market is segmented into Epoxy, Polyurethane, Acrylic, Vinyl, and Other Resin Types. By technology, the market is segmented into Water-borne, Solvent-borne, and Other Technologies. By application, the market is segmented into Tile and Stone, Carpet, Wood, Laminate, Resilient Flooring, and Other Applications. By end-user industry, the market is segmented into Residential, Commercial, and Industrial. The report also covers the size and forecasts for the floor adhesives market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Resin Type
Epoxy
Polyurethane
Acrylic
Vinyl
Others
Technology
Water-borne
Solvent-borne
Other Technologies
Application
Tile & Stone
Carpet
Wood
Laminate
Resilent Flooring
Other Applications
End-user Industry
Residential
Commercial
Industrial
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from Residential End-user Industry Segment

  • Tile and stone adhesives are the most commonly used adhesive type in the residential end-user segment. Additionally, the residential segment is the largest and fastest-growing segment in the market studied.
  • The rising middle-class population, coupled with the increasing disposable incomes, has facilitated an expansion in the middle-class housing segment, thereby increasing the use of flooring adhesives.
  • The highest growth is expected to be registered in the Asia-Pacific region, owing to the expanding housing construction markets in China and India. These two regions are expected to represent over 43.3% of the global middle class by 2030. The Government of India reduced the GST taxes for housing from 12% to 5%. This tax redemption may increase the construction market for middle-class housing.
  • Furthermore, In October 2021, Sao Paulo State Housing Union (Secovi-SP) recorded 5,555 new residential units sold in the city of Sao Paulo. The number is further likely to rise, owing to the rise in consumer spending on residential housing units. Moreover, the growing trend for single-family housing in Brazil will likely support the residential construction industry in the upcoming period.
  • Mexico’s housing starts and inventory levels reached a 10-year low due to a sharp cut in the federal housing subsidy program and the pandemic that triggered a severe recession. The Programa de Vivienda Social, or social housing program, had a budget increase of 179% to USD 200 million in 2021, thus, supporting the construction spending. Moreover, the accessible loan facilities and favorable mortgage schemes are expected to benefit residential construction in the country.
  • The low-cost housing segment is rising steadily, primarily due to government initiatives to provide affordable housing to the poor in urban and rural regions.
  • Consumption of flooring adhesives in constructing low-cost houses is comparatively less than other types of houses. Various countries across the world are providing shelter to refugees from other countries. Hence, governments offer temporary or permanent low-cost housing to refugees.
  • Overall, due to the aforementioned factors, the consumption growth of floor adhesives in the residential segment is expected to be high during the forecast period.
Floor Adhesives Market - Segmentation Trends

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global Floor Adhesives Market share. With growing construction activities in countries such as China, India, and ASEAN Countries, the consumption of floor adhesives is increasing in the region.
  • The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years, despite efforts to rebalance its economy to a more service-oriented form.
  • According to the National Bureau of Statistics of China, the construction output value in the country increased from CNY 9.6 trillion in 2010 to CNY 29.31 trillion in 2021.
  • The country has the largest construction market in the world, encompassing 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings by 2030. China is promoting and undergoing a process of continuous urbanization, with a target rate of 70% for 2030.
  • Furthermore, In India, According to the Ministry of Statistics and Program Implementation, the construction sector is expected to rise in double digits in FY22, rebounding from an 8.6% contraction in 2020 supported by the base effect and a forecast 9.2% growth in the GDP.
  • Because of the government's increased attention to infrastructure projects and the predicted rapid rebound in demand for both residential and commercial segments, the construction sector is expected to grow by 10.7% in FY22. Hence, the growing construction activities in the country are expected to increase the demand for floor adhesives.
  • Various policies implemented by the Indian government, such as Smart City projects, Housing for All by 2022, etc., are expected to bring the needed impetus to the slowing construction industry. Moreover, recent policy reforms, such as the Real Estate Act, GST, and REITs, are expected to reduce approval delays and strengthen the construction sector over the next few years.
  • Hence, with the growing construction activities, the demand for floor adhesives is expected to rapidly increase over the forecast period.
Floor Adhesives Market - Regional Trends

Competitive Landscape

The global floor adhesives market is partially consolidated in nature, with the top few players occupying a significant share in the market. Some of the major companies include Sika AG, MAPEI S.p.A, Arkema Group (Bostik SA), HB Fuller Company, and Dow.

Recent Developments

  • In Dec 2021, Arkema announced the acquisition of Permoseal, a leader in adhesive solutions for woodworking, packaging, construction, and DIY, in South Africa. Permoseal’s well-known brands, such as Alcolin, and comprehensive range of high-performance adhesive solutions complement Bostik's portfolio in the region, enhancing the companies’ positions in the industrial, construction, and DIY industries of South Africa and Sub-Saharan Africa.
  • In Aug 2021, Arkema signed an agreement to acquire Ashland's Performance Adhesives business in the United States. This initiative aligned with Arkema's goal of becoming a pure specialty material player by 2024, focusing on sustainable and high-performance solutions. This also supports the long-term growth plans of Bostik (an Arkema company) and allows it to aim for an EBITDA margin of more than 17% in 2024.​
  • In Mar 2021, Sika acquired the flooring adhesives business of DriTac, a US-based floor covering adhesives company. Through this acquisition, Sika increased its presence among floor covering installers and distributors and accelerated its expansion in the interior finishing market in the United States.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapidly Growing Global Construction Industry

      2. 4.1.2 Versatility, Safety, and Ease of Application of Floor Adhesives

    2. 4.2 Restraints

      1. 4.2.1 Hazardous Health Effects Due to VOC Emissions

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Polyurethane

      3. 5.1.3 Acrylic

      4. 5.1.4 Vinyl

      5. 5.1.5 Others

    2. 5.2 Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

      3. 5.2.3 Other Technologies

    3. 5.3 Application

      1. 5.3.1 Tile & Stone

      2. 5.3.2 Carpet

      3. 5.3.3 Wood

      4. 5.3.4 Laminate

      5. 5.3.5 Resilent Flooring

      6. 5.3.6 Other Applications

    4. 5.4 End-user Industry

      1. 5.4.1 Residential

      2. 5.4.2 Commercial

      3. 5.4.3 Industrial

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 United Kingdom

        3. 5.5.3.3 France

        4. 5.5.3.4 Italy

        5. 5.5.3.5 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle-East and Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Arkema Group (Bostik SA)

      3. 6.4.3 Ashland

      4. 6.4.4 Dow

      5. 6.4.5 Forbo Holding AG

      6. 6.4.6 H.B. Fuller Company

      7. 6.4.7 Henkel AG & Co. KGaA

      8. 6.4.8 Jowat SE

      9. 6.4.9 LATICRETE International Inc.

      10. 6.4.10 MAPEI SpA

      11. 6.4.11 Pidilite Industries Limited

      12. 6.4.12 Sika AG

      13. 6.4.13 tesa SE - A Beiersdorf Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Demand for Bio-based Floor Adhesives

**Subject to Availability

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Frequently Asked Questions

The Floor Adhesives Market market is studied from 2017 - 2027.

The Floor Adhesives Market is growing at a CAGR of 4.76% over the next 5 years.

The Floor Adhesives Market is valued at 1763 Million USD in 2017.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Sika AG, MAPEI S.p.A, Arkema Group (Bostik SA), H.B. Fuller Company, Dow are the major companies operating in Floor Adhesives Market.

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