From 2019 to 2023, the global resilient flooring adhesives market grew from USD 2,525.1 million to USD 2,809.7 million, driven by increased demand for durable flooring and improved international trade. The market is expected to reach USD 2,969.5 million by 2024 and rise to USD 5,482 million by 2034, growing at a compound annual growth rate of 6.3%. This expansion is driven by robust construction activities and infrastructure developments, especially in emerging markets.

NEWARK, DE / ACCESSWIRE / August 25, 2024 / The global Market share of adhesives for resilient floors is expected to reach 2,969.5 million USD in 2024 with a forecast value of 5,482 million USD by 2034 with a growth of CAGR of 6.3% during the forecast period. The market is expected to register a CAGR of 5.7% in 2024, driven by factors such as urbanization, economic growth in East Asia and increasing construction activity worldwide.

Market drivers and trends

Demand for luxury residential and commercial spaces in East Asia, particularly in countries like China and South Korea, is expected to drive the market. China’s construction industry is expected to grow at 8.5% annually, supporting the need for high-quality flooring and adhesives.

The United States remains a major player, driven by home renovations and new construction. The increasing focus on green building practices and strict environmental regulations are driving demand for green adhesives. For example, single-family home construction in the U.S. increased 11% in 2021, according to the National Association of Home Builders (NAHB).

Key industry highlights

• The growth of the construction industry is a key driver for elastic floor adhesives. In developed and emerging countries, significant investments are being made in new buildings and renovations.

• The increasing demand for environmentally friendly, low-VOC water-based adhesives, driven by strict environmental regulations, is shaping market trends.

• The global increase in renovation activity offers significant growth opportunities, particularly in developed markets such as the US and Europe, where a significant portion of construction activity involves the modernization of existing structures.

“The global resilient flooring adhesives market is expected to witness robust growth driven by rapid urbanization and construction booms in regions such as East Asia and North America. With the increasing demand for durable and eco-friendly flooring, especially in high-traffic commercial and residential spaces, companies are expected to innovate in water-based and low-VOC adhesives. Key players such as Henkel and Sika are likely to capitalize on this trend and strengthen their market positions through sustainable product offerings,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Regional insights

• South Korea: Expected growth: an average of 8.5% per year, driven by the recovery of the construction industry and increasing demand for resilient floor coverings in commercial and residential premises.

• India: An average increase of 7.9% per year is expected, supported by rapid urbanization and a growing preference for durable flooring.

• China: Expected growth: 7.5% annually on average, with a focus on water-based adhesives due to stringent environmental standards and a booming urban population.

Key trends:

Renovation and conversion: The global increase in renovation activities creates significant opportunities for adhesives specifically designed for resilient floors.

Environmentally friendly solutions: Growing environmental awareness is leading to increased demand for sustainable adhesives, especially in regions with strict regulations such as the US and Europe.

Full report URL: https://www.futuremarketinsights.com/reports/glue-for-resilient-floor-market

Competitive environment

The key players in the industry include Pidilite Industries Limited, Dow Chemicals, Huntsman Corporations, Sika AG, Mapei SpA, Ardex, Henkel AG & Co and HB Fuller. The global market for resilient flooring adhesives is highly fragmented. A mix of large market leaders and several small regional players creates a dynamic growth environment.

This structure enables a competitive environment that requires innovation and adaptability, and opens up new opportunities for growth and expansion.

With the increasing demand for eco-friendly solutions across various industries, manufacturers in the industry are increasingly investing in the development of sustainable materials. They offer their customers customized and aesthetically pleasing materials and designs to stand out from the competition. The market is witnessing significant investment in research and development to facilitate the adoption of bio-based materials in the industry.

• Tier 1 companies: These companies dominate the market with a market share of 40-45%. They have extensive product portfolios, high production capacities and a global reach. The main players include Henkel AG & Co., Sika AG, The Dow Chemical Company and 3M Company.

• Level 2 and 3 companies: These companies focus on specific regions and generate annual revenues between $1.5 billion and $9 billion. They play a critical role in local markets, provide customized solutions and ensure regulatory compliance.

Industry updates

• In May 2024, HB Fuller acquired Minnesota-based ND Industries, a specialty adhesives provider. This acquisition is expected to accelerate the execution of the company’s key growth priorities.

• In March 2024, Mapei SpA, headquartered in Milan, announced the opening of its new plant in Cantanhede, Portugal, continuing its international expansion strategy.

Leading adhesive brands for resilient floors

Important segments of the market report

By resin type:

In terms of resin type, the industry is divided into epoxy, polyurethane, acrylic and vinyl.

According to formulation:

The formulation type is classified as water-based, solvent-based and hot melt.

By soil type:

By flooring type, the industry is divided into vinyl, wood, carpet, laminate and linoleum. Vinyl is further divided into epoxy, polyurethane, acrylic and vinyl. Wood is divided into epoxy, polyurethane, acrylic and vinyl. Carpet is divided into epoxy, polyurethane, acrylic and vinyl. Laminate is divided into epoxy, polyurethane, acrylic and vinyl. Linoleum is divided into epoxy, polyurethane, acrylic and vinyl.

After end use:

The main end uses are residential, commercial and industrial. Residential is further divided into single-family homes and apartments. Commercial is divided into offices, retail spaces, sports arenas, healthcare facilities, and hotels and restaurants. Industrial is divided into warehouses and workshops.

By region:

The market spans North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa.

Check out the relevant reports from the Chemicals and Materials sector:

The global Vinyl Flooring Market is valued at USD 29,885.25 million in 2023 and is expected to reach USD 57,699.15 million by 2033, growing at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.

The global Acrylic Adhesives market share is expected to grow at a compound annual growth rate of 4.29% during the forecast period from 2023 to 2033. The market size was USD 2.59 billion in 2023 and will reach USD 3.92 billion in 2033.

Polyurethane (PU) adhesives sales are expected to grow strongly, with the top three countries expected to hold approximately 30-35% of the market by the end of 2022.

Total demand for adhesives for electronics is expected to grow at a compound annual growth rate of 9.0% between 2023 and 2033, reaching approximately $12.1 billion by 2033.

The global tile adhesive market is expected to reach a value of USD 2.67 billion in 2023 and is projected to grow to USD 5.2 billion by 2033, growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period.

Global demand for hot melt adhesives is expected to register a compound annual growth rate (CAGR) of 5.3% and reach a market value of USD 12,675.5 million.

Global industrial adhesives revenue is expected to grow from $57,444 million in 2023 to $85,786.4 million by the end of 2033 at a compound annual growth rate of 4.4%.

The global concrete floor coatings market share is expected to reach USD 4.95 billion in 2022, with a stable CAGR of 5.4% from 2023 to 2033.

The value of the global screed industry reached USD 13,578.8 million in 2023. The value is expected to grow at a CAGR of 6.1% during the forecast period.

The global building thermal insulation market is valued at USD 29,034 million. The market is expected to grow at a compound annual growth rate of 4.3% during the forecast period.

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