Floor Adhesives Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.02 Billion |
| Market Size (2029) | USD 2.56 Billion |
| CAGR (2024 - 2029) | 4.85 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Floor Adhesives Market Analysis
The Floor Adhesives Market size is estimated at USD 2.02 billion in 2024, and is expected to reach USD 2.56 billion by 2029, growing at a CAGR of 4.85% during the forecast period (2024-2029).
- The rapidly growing global construction industry and the versatility, safety, and ease of application of floor adhesives, are likely to drive market growth.
- On the flip side, hazardous health effects due to VOC emissions may hinder the market's growth.
- Increasing demand for bio-based floor adhesives will likely act as an opportunity.
- Asia-Pacific dominates the global market, with the largest consumption coming from China, India, and Japan.
Floor Adhesives Market Trends
This section covers the major market trends shaping the Floor Adhesives Market according to our research experts:
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.
- According to the World Bank, the value of the global construction industry has increased from USD 22.36 trillion in 2020 to USD 27.18 in 2021.
- The highest growth is expected to be registered in the Asia-Pacific region, owing to China and India's expanding housing construction markets. 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 Sao Paulo, Brazil. The number is likely to rise, owing to the increase in consumer spending on residential housing units. Moreover, the growing trend for single-family housing in Brazil is 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 construction spending. Moreover, 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.
- The 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.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominates 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.
- The National Bureau of Statistics of China reports that the market for construction works in China increased from CNY 23.27 trillion (USD 3.34 trillion) in 2020 to CNY 25.92 trillion (USD 3.72 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.
- 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 was 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.
- According to statistical office data, construction orders won by South Korean builders in 2021 increased by double digits due to robust international demand. According to Statistics Korea, construction orders collected by local builders both at home and overseas totaled USD 245.9 billion in 2021, up by 31 trillion won from 2020.
Floor Adhesives Industry Overview
The global floor adhesives market is partially consolidated. The major players include Sika AG, MAPEI S.p.A, Arkema Group (Bostik SA), HB Fuller Company, and Dow.
Floor Adhesives Market Leaders
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Sika AG
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MAPEI S.p.A
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Arkema Group (Bostik SA)
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H.B. Fuller Company
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Dow
*Disclaimer: Major Players sorted in no particular order
Floor Adhesives Market News
- In August 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, focusing on sustainable, high-performance solutions. This also supports the long-term growth plans of Bostik (an Arkema company).
- In March 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.
Floor Adhesives Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Rapidly Growing Global Construction Industry
- 4.1.2 Versatility, Safety, and Ease of Application of Floor Adhesives
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4.2 Restraints
- 4.2.1 Hazardous Health Effects Due to VOC Emissions
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Polyurethane
- 5.1.3 Acrylic
- 5.1.4 Vinyl
- 5.1.5 Other Resin Types
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5.2 Technology
- 5.2.1 Water-borne
- 5.2.2 Solvent-borne
- 5.2.3 Other Technologies
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5.3 Application
- 5.3.1 Tile & Stone
- 5.3.2 Carpet
- 5.3.3 Wood
- 5.3.4 Laminate
- 5.3.5 Resilent Flooring
- 5.3.6 Other Applications
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5.4 End-user Industry
- 5.4.1 Residential
- 5.4.2 Commercial
- 5.4.3 Industrial
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5.5 Geography
- 5.5.1 Asia-Pacific
- 5.5.1.1 China
- 5.5.1.2 India
- 5.5.1.3 Japan
- 5.5.1.4 South Korea
- 5.5.1.5 Rest of Asia-Pacific
- 5.5.2 North America
- 5.5.2.1 United States
- 5.5.2.2 Canada
- 5.5.2.3 Mexico
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 France
- 5.5.3.4 Italy
- 5.5.3.5 Rest of Europe
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Rest of South America
- 5.5.5 Middle-East and Africa
- 5.5.5.1 Saudi Arabia
- 5.5.5.2 South Africa
- 5.5.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Arkema Group (Bostik SA)
- 6.4.3 Ashland
- 6.4.4 Dow
- 6.4.5 Forbo Holding AG
- 6.4.6 H.B. Fuller Company
- 6.4.7 Henkel AG & Co. KGaA
- 6.4.8 Jowat SE
- 6.4.9 LATICRETE International Inc.
- 6.4.10 MAPEI SpA
- 6.4.11 Pidilite Industries Limited
- 6.4.12 Sika AG
- 6.4.13 Tesa SE
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Demand for Bio-based Floor Adhesives
Floor Adhesives Industry Segmentation
Floor adhesive is any 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 | ||
| Other Resin Types | ||
| 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 | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Floor Adhesives Market Research FAQs
How big is the Floor Adhesives Market?
The Floor Adhesives Market size is expected to reach USD 2.02 billion in 2024 and grow at a CAGR of 4.85% to reach USD 2.56 billion by 2029.
What is the current Floor Adhesives Market size?
In 2024, the Floor Adhesives Market size is expected to reach USD 2.02 billion.
Who are the key players in Floor Adhesives Market?
Sika AG, MAPEI S.p.A, Arkema Group (Bostik SA), H.B. Fuller Company and Dow are the major companies operating in the Floor Adhesives Market.
Which is the fastest growing region in Floor Adhesives Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Floor Adhesives Market?
In 2024, the Asia Pacific accounts for the largest market share in Floor Adhesives Market.
What years does this Floor Adhesives Market cover, and what was the market size in 2023?
In 2023, the Floor Adhesives Market size was estimated at USD 1.93 billion. The report covers the Floor Adhesives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Floor Adhesives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Floor Adhesives Industry Report
Statistics for the 2024 Floor Adhesives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Floor Adhesives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
