Technavio analyzes that the Floor Adhesive Market is expected to grow at a CAGR of 4.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1308 million.There are various factors that contribute to the growth of the market. The global construction industry is experiencing significant growth, leading to a corresponding increase in demand for floor adhesives. These essential building materials ensure a strong and durable bond between various flooring types and substrates. Floor adhesives cater to various sectors, including residential, commercial, and industrial, making them indispensable in construction projects worldwide. The market for floor adhesives is projected to expand steadily, driven by the increasing construction activities and the preference for high-quality, long-lasting flooring solutions.
In the residential sector, floor adhesives play a crucial role during the construction process of new homes. The residential market is projected to expand post-2007's financial crisis, driven by an uptick in employment opportunities and low-interest rates. However, North American residential construction growth may decelerate due to builders' excess capacity. APAC, despite being the largest market, will witness a moderate residential sector expansion due to limited high-rise construction and the absence of construction lift adoption. Governments worldwide offer tax incentives to boost homeownership among the middle-income demographic, favoring the floor adhesive market. This market caters to various flooring materials, including tiles and walls. When selecting floor adhesives, consider factors such as installation ease, high moisture resistance, quick drying rates, and easy clean-up. Chemical-based adhesives, while effective, may contain toxins, necessitating proper handling and disposal.
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Floor Adhesive Market Segmentation
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The Floor Adhesive Market encompasses various types of adhesives for binding diverse flooring materials, including engineered wood, tiled, carpet tiles, carpet rolls, rubber commercial, loose lay vinyl, and luxury vinyl. Adhesives come in forms like water-based, polyurethane-based, acrylic-based, and chemical bond. Factors such as VOC emissions, eco-friendliness, moisture resistance, and toxicity differ among these adhesives. Installation environments, dry time, cleaning, shelf life, and installation advice are essential considerations. Some adhesives cater to high moisture rates, easy clean-up, and long drying rates. Materials like wood, tile, and vinyl each require specific adhesives, with chemical-based options offering strong bonds but potential toxins.
In the expansive parent market of global construction materials, sectors such as engineered wood flooring, tiled flooring, carpet tiles, carpet rolls, rubber commercial flooring, loose lay vinyl, and various flooring systems, contribute significantly. This market encompasses the revenue generated by manufacturers and providers of chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. The burgeoning building and construction industry, driven by substantial growth over the past few years, is a key factor propelling the expansion of this market. Notably, the increasing preference for eco-friendly and low VOC emission adhesives, like water-based adhesives, is another significant trend shaping the market landscape.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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