SAN FRANCISCO, Nov. 24, 2020 /PRNewswire/ -- The global flooring adhesive market size is anticipated to reach USD 7.1 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2020 to 2027. Demand for resilient flooring materials on account of new constructions and renovation projects are likely to push the product demand.
Resilient floorings are used to enhance the comfort and aesthetics of various applications in living rooms, bedrooms, outdoor floors, and utility spaces. Rubber and cork products are used as protective floorings where heavy and fragile objects are stored, for instance, gym floors are generally made with resilient materials to resist the weights of the instruments.
Key suggestions from the report:
- The Asia Pacific attracted the largest demand and is projected to maintain its lead during the forecast period. Growing housing needs and easy availability of home loans are likely to push the industrial demand
- The Middle East and Africa is likely to expand at a CAGR of 4.6% from 2020 to 2027, in terms of revenue. Rising construction activities for commercial projects are likely to assist the market growth in the region
- By application, the resilient flooring segment accounted for the largest revenue share of over 53.0% in 2019. Increasing penetration of vinyl flooring is one of the key trends fueling the segment growth
- Leading multinationals are projected to focus on new organic and inorganic growth strategies to increase their market share.
Read 84 page research report with ToC on "Flooring Adhesive Market Size, Share & Trends Analysis Report By Resin (Acrylic, Polyurethane, Polyvinyl Acetate), By Application (Resilient Flooring, Laminate Flooring), By End-use, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/flooring-adhesives-market
Increasing consumer inclination toward aesthetically appealing interiors, growing spending capacity of the upper-middle-class population, and improving the standard of living in emerging countries are expected to favor the demand for wooden floors. However, fluctuations in international trade policies may affect the pricing of final products, thus leading to a negative impact on their demand.
Artificial turf or synthetic grass or fake grass flooring materials are majorly used for external flooring applications. The largest share of these materials is consumed by landscaping and sports floorings in the commercial segment. Moreover, these materials are used in lawns, gardens, balconies, and terraces in residential and commercial structures. The rising popularity of outdoor games and government initiatives to promote sports are driving artificial turf demand.
Fluctuation in the raw material prices and establishing a distribution network are the challenges faced by the market competitors. Therefore, major players in the market are likely to witness a degree of forward and backward integration. This is further likely to intensify the market rivalry and, in turn, competition, and thus, making it difficult for new entrants to sustain in the competition.
Research & development activities by multinational players have led to the introduction of advanced flooring products and new techniques for installation, thus making the competitive environment more intense. Furthermore, the penetration of products through an organized retailing network is another factor for the players to sustain in the market competition.
Grand View Research has segmented the global flooring adhesives market report on the basis of resin, application, end-use, and region:
- Flooring Adhesives Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Acrylic
- Polyurethane
- Polyvinyl Acetate
- Others
- Flooring Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Resilient flooring
- Wooden flooring
- Laminate flooring
- Others
- Flooring Adhesives End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Residential
- Commercial
- Industrial
- Flooring Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
List of Key Players of Flooring Adhesives Market
- Henkel AG
- Bostik
- Sika AG
- The Dow Chemical Company
- H.B. Fuller
- Mapei S. p. A.
- Pidilite Industries
- Wacker Chemie AG
Find more research reports on Advanced Interior Materials Industry, by Grand View Research:
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- Ferrochrome Market – Increasing stainless steel production around the globe is a significant factor driving the market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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