Dublin, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The "United States Floor Adhesive Market, Competition, Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
United States Floor Adhesive Market has valued at USD1.61 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.52% through 2028
Growing investments in the construction industry, especially in residential and commercial sectors, are projected to boost market growth over the forecast period. The shifting trend toward the renovation of existing buildings owing to increasing disposable income and inclination for aesthetic appearance is propelling the product demand. Moreover, the government initiatives towards economic recovery, such as tax incentives and subsidies for construction projects, are further benefitting the growth of the construction industry and positively influencing flooring adhesives demand.
The U.S. is a lucrative market for flooring adhesive and is anticipated to observe high growth in wooden flooring over the coming years. Ease of maintenance, elegant appearance, and high return on investments are factors augmenting the popularity of wooden flooring in the U.S. Houses with wooden flooring can expect a return on investment of 70% to 80% and an increase of 2% to 3% in their costs. These factors, along with the increasing focus on sustainable and eco-friendly construction, are propelling the growth of the wooden flooring segment.
For instance, in November 2020, AHF Products, a leading manufacturer of flooring materials, announced its plan to invest USD 2.5 million in its Somerset facility to introduce a new line of highly durable end-grain hardwood flooring. This investment not only indicates the growing demand for flooring materials but also highlights the importance of innovation and product development in meeting the evolving needs of the market.
In an attempt to boost economic recovery and stimulate job creation, various housing projects are being developed by private investors, as well as government bodies. These projects include the construction of affordable housing units, residential complexes, and commercial buildings, which are expected to positively influence the growth of the flooring adhesives market.
In conclusion, the construction industry is experiencing a surge in investments, renovation projects, and government initiatives aimed at economic recovery, all of which are driving the demand for flooring adhesives. With the growing popularity of wooden flooring, technological advancements, and sustainable construction practices, the market is poised for substantial growth in the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1.61 Billion |
| Forecasted Market Value (USD) by 2028 | $2.24 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | United States |
Key Market Drivers:
- Growing demand for floor adhesive in the construction industry due to increased construction activities and renovations.
- Continuous innovations in floor adhesive products, including enhanced bonding strength and resistance to moisture and chemicals.
- Advancements in flooring materials, such as laminate flooring, vinyl flooring, and floor coatings, leading to diverse adhesive requirements.
- Increasing popularity of eco-friendly water-based adhesives driven by environmental regulations and consumer preferences.
Key Market Challenges:
- Compliance with environmental regulations and limits on volatile organic compounds (VOCs) in adhesives, which may increase production costs.
- Ensuring that adhesives meet evolving environmental standards while maintaining performance and efficiency.
Key Market Trends:
- Rising use of water-based adhesives due to their eco-friendliness, lower VOC content, and safety benefits.
- Continued growth of the water-based adhesive market driven by environmental consciousness and sustainability concerns.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United States Floor Adhesive Market.
- Mapei S.p.A.
- Sika AG
- Henkel AG
- The Dow Chemical Company
- Wacker Chemie AG
- Bostik SA
- Forbo Holdings AG
- Pidilite Industries Limited
- LATICRETE International Inc.
- Dupont De Nemours Inc.
Report Scope:
Floor Adhesive Market, By Resin Type:
- Polyurethane Adhesive
- Epoxy Adhesive
- Vinyl Adhesive
- Acrylic Adhesive
- Others
Floor Adhesive Market, By Technology:
- Water-Based Adhesive
- Hot-Melt Adhesive
- Solvent-Based Adhesive
Floor Adhesive Market, By Application:
- Wood
- Carpet
- Laminate
- Tile & Stone
- Others
Floor Adhesive Market, By Region:
- Northeast
- Midwest
- South
- West
For more information about this report visit https://www.researchandmarkets.com/r/1neg0
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