Scienza e Tecnologia
Floor Adhesives Market, Impacted by COVID-19, to Reach US$ 7.2 Billion in 2026, Says a New Report from Stratview Research
Flooring adhesive is a type of strong, permanent glue for adhering flooring materials to a subfloor or underlayment. Different types of adhesives are recommended for different types of flooring, although some multi-purpose solutions can be used effectively with multiple materials as per the requirements of the area where flooring needs to be completed. The floor adhesives market has been affected badly in 2020 due to the pandemic. As a result, the market recorded a massive decline of -8.2% in 2020.
Based on primary results coupled with the study of the recovery trajectories of previous downturns, it is forecasted that the market will hit back its pre-pandemic levels by 2022 only, creating healthy growth opportunities for market participants in the near future. In the coming five years, . Several factors may help the industry stakeholders to heal up the losses endured due to the pandemic. Some of which are an expected recovery in the economy, increasing infrastructure development and construction spending, increasing penetration of adhesives over mechanical fasteners, and increasing demand for water-based adhesives in order to reduce VOC emissions.
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Based on the material type, , owing to its faster-curing capability and price sensitivity. Acrylic adhesives are highly preferred in luxury vinyl tile flooring, carpet, and carpet tile flooring applications.
On the other hand, polyurethane adhesive is expected to remain the fastest-growing material type in the market during the forecast period due to its high preference for wood flooring applications. Its excellent properties, such as long-lasting surface finish, superior chemical, solvent and scratch resistance, fast-drying, and resistance to UV light damage, water-and-tear and extreme temperature variations are likely to drive the material's market.
Based on the application type, . Resilient flooring includes Luxury Vinyl Tiles (LVT) and Vinyl Composite Tiles (VCT) wherein LVT is the growth engine of the segment. LVT is gaining popularity, being a versatile and durable flooring option with endless designs using advanced photo technology. Wood flooring is the next biggest application type in the market due to its high significance of polyurethane adhesives.
Based on the technology type, . Water-based technology has been a popular replacement for solvent-based adhesives, driven by a host of factors, such as environmental safety, zero VOCs, and low odor. Increasing concern over reducing VOC emissions and stringent regulations regarding solvent usage have been pushing the demand for water-based adhesives in the market.
Based on the end-user type, . The demand for floor adhesives for commercial flooring applications largely comes from corporate buildings, hospitals, shopping malls, restaurants, and hotels. Increasing government spending on infrastructure development for the non-residential sector is fueling the segment's growth.
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In terms of regions, during the forecast period. This region has presence of a large number of flooring and construction contractors coupled with growing demand from the commercial and residential sectors. Despite lower adhesive per capita consumption compared to North America and Europe , Asia-Pacific holds the lead due to enormous infrastructure projects and gigantic construction industry economy/spending.
Most of the major players are providing adhesives for all the major applications. Following are the key players in the floor adhesives market are .
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the floor adhesives market and has , keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
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