LONDON, April 21, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the flooring adhesive market, flooring adhesives companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment, focusing on reducing volatile organic compounds (VOC) emissions. For instance, building materials when exposed to high temperatures or high moisture levels emit high VOC. Evolution in technology and chemical sciences enabled adhesives companies to produce products using natural raw materials such as starch, resins, lignin and proteins. These materials ensure that the products have a lower carbon footprint. Biodegradable adhesives are prepared to be broken down by microorganisms and bacteria. The degrading process produces carbon dioxide, water and other natural gases defined by the environment. Companies are emphasizing green construction, which refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact.
For example, BASF, a German multinational chemical company, has developed new binders for flooring adhesives under their ACRONAL line that offer exceptional performance while minimizing environmental impact.
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The global flooring adhesive market share is expected to grow from $6.57 billion in 2021 to $7.27 billion in 2022 at a compound annual growth rate (CAGR) of 10.70%. The global flooring adhesive market growth is expected to grow to $9.56 billion in 2026 at a CAGR of 7.07%.
The increase in infrastructural development in emerging countries has contributed significantly to the growth of the flooring adhesives market. With an increase in the global population, there has been an increased demand for housing, which in turn increased the demand for flooring adhesives for various applications such as floor fixing, roof fixing, and fixing panels. Flooring adhesive can also be mixed with cement for better adhesion. The governments of emerging countries such as Brazil and India have been investing in residential construction in order to provide affordable housing for all. According to the World Bank, in South Asia, the urban population is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world’s population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for infrastructure and drive the flooring adhesives market.
Major players in the flooring adhesive market are Mapei S.p.A., Sika AG, Henkel AG, The Dow Chemical Company, Wacker Chemie AG, Bostik SA, Forbo Holdings AG, Pidilite Industries Limited, H.B. Fuller, LATICRETE International Inc., Pidilite Industries, Dupont De Nemours Inc., Parker-Hannifin Corp, Arkema Group, tesa SE-A Beiersdorf Company, 3M, Illinois Tool Works Inc., TecDura Surface Protection Systems, Bostik India Pvt. Ltd., and Ardex, Franklin.
The global flooring adhesive market overview is segmented by type into urethane, epoxy, acrylic, vinyl, others; by application into tile and stone, carpet, wood, laminate, others; by technology into water-based adhesive, solvent-based adhesive, hot-melt based adhesive; by end-user into residential, commercial, industrial.
As per the flooring adhesive market analysis, Asia Pacific was the largest region in the market in 2021. Asia Pacific is expected to be the fastest-growing region in the global flooring adhesives market during the forecast period. The regions covered in the global flooring adhesive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Flooring Adhesive Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide flooring adhesive market overviews, flooring adhesive market analyze and forecast market size and growth for the whole market, flooring adhesive market segments and geographies, flooring adhesive market trends, flooring adhesive market drivers, flooring adhesive market restraints, flooring adhesive market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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