Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Flooring Adhesive Market Size, Share & Trends Analysis Report by Resin (Acrylic, Polyurethane, Polyvinyl Acetate), Application, End Use (Residential, Commercial, Industrial), Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global flooring adhesive market size is expected to reach USD 7.7 billion by 2028. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028.
The market is projected to be driven by a growing emphasis on luxury homes and increasing investments in the construction sector. Growing investments in luxury construction are anticipated to augment the demand for flooring, which, in turn, is expected to increase the need for adhesives over the forecast period.
For instance, luxury vinyl flooring has been gaining popularity as they offer softer and quieter underfoot, ample choices in design, easier installation, easy replacement, look and appeal of realistic wood, are easy to clean and maintain, and is ideal for both residential and commercial applications.
Increasing demand for luxury housing in European countries is one of the key drivers for the growth of the market. Nearly all mid-sized and large cities such as Lisbon, Porto, Paris, Berlin, Frankfurt, Milan, and Madrid are witnessing an increase in luxury real estate investment. For example, Mareterra, a luxury housing project is under development in Monaco City. The six-hectare land reclamation project with 125 luxury homes is expected to open in 2024.
Growth in the flooring industry is compelling adhesive manufacturers to expand their presence through mergers and acquisitions and capacity expansions. For instance, in March 2021, Sika AG announced the acquisition of the flooring adhesives vertical of DriTac, a floor covering adhesives Company based in the U.S. The acquisition aims at expanding Sika's presence in the Interior Finishing Market of the U.S. and among floor covering installers and distributors.
Flooring Adhesives Market Report Highlights
- By resin, the acrylic segment held the largest revenue share of over 41.0% in 2020. This is attributable to growing demand for the product in adhesion of the substrates, which are difficult to bond
- The resilient segment is anticipated to register the fastest growth rate of 6.7% in terms of revenue, across the forecast period. The growth is attributed to rising need for resilient flooring in high traffic areas such as schools, offices, restaurants, hospitals, and gymnasiums
- The commercial segment held the largest revenue share of over 34.0% in 2020. Growing construction of commercial buildings such as office spaces, drugstores, shopping malls, and convenience stores is positively impacting segment growth
- Asia Pacific dominated the market and accounted for revenue share of more than 38.0% in 2020. Growing investments in construction sector of the developing economies of the region is expected to augment market growth across forecast period
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Flooring Adhesive Market Variables, Trends, and Scope
Chapter 4. Flooring Adhesive Market: Resin Outlook Estimates & Forecasts
Chapter 5. Flooring Adhesive Market: Application Outlook Estimates & Forecasts
Chapter 6. Flooring Adhesive Market: End-Use Outlook Estimates & Forecasts
Chapter 7. Flooring Adhesive Market Regional Outlook Estimates & Forecasts
Chapter 8. Competitive Analysis
8.1. Competitive Scenario
8.2. Company Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3. Vendor Landscape
8.3.1. List of raw material suppliers, distributors, and other prominent manufacturers
8.3.2. List of potential customers
Chapter 9. Company Profiles
- Bostik
- Henkel AG & Co. KGaA
- Sika AG
- MAPEI S.p.A
- Dow
- Forbo Holdings AG
- Pidilite Industries
- H.B. Fuller Company
- LATICRETE International, Inc.
- Parker Hannifin Corp
For more information about this report visit https://www.researchandmarkets.com/r/ar44h7
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