Flooring Adhesives Market Size Worth $7.7 Billion by 2028: Grand View Research, Inc.

SAN FRANCISCO, Feb. 16, 2022 /PRNewswire/ -- The global flooring adhesive market size is expected to reach USD 7.7 billion by 2028, according to a new report by Grand View Research, Inc. 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.

Key Insights & Findings from the report:

• 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.

Read 130-page market research report, "Flooring Adhesive Market Size, Share & Trends Analysis Report By Resin (Acrylic, Polyurethane, Polyvinyl Acetate), By Application, By End Use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research.

Flooring Adhesives Market Growth & Trends

Flooring is an integral part of residential or commercial buildings as there is no other part that is exposed to more wear and tear. As a result, it needs to be durable and should match the décor. Wooden and resilient floorings have gained significant prominence in luxury construction. 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 Segmentation

Grand View Research has segmented the global flooring adhesive market on the basis of resin, application, end-use, and region:

Flooring Adhesives Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Acrylic
• Polyurethane
• Polyvinyl Acetate
• Others

Flooring Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Resilient Flooring
• Wooden Flooring
• Laminate Flooring
• Others

Flooring Adhesives End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Residential
• Commercial
• Industrial

Flooring Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

•  North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa
• Saudi Arabia

List of Key Players of Flooring Adhesives Market

• Bostik
• Dow
• Forbo Holdings AG
• H.B. Fuller Company
• Henkel AG & Co. KGaA
• LATICRETE International, Inc.
• MAPEI S.p.A
• PARKER HANNIFIN CORP
• Pidilite Industries
• Sika AG

Check out more related studies published by Grand View Research:

• Resilient Flooring Market - The global resilient flooring market size is expected to reach USD 67.7 billion by 2028, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Product benefits including cost efficiency, lower maintenance, and improved aesthetics are anticipated to drive the demand for resilient floorings over the forecast period.
• Flooring Market - The global flooring market size was valued at USD 388.24 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028. Increasing government spending on infrastructural development is expected to play an important role in augmenting the demand for flooring.
• Commercial Flooring Market - The global commercial flooring market size is expected to reach approximately USD 47.69 billion by 2025, according to a new report conducted by Grand View Research, Inc. An increasing number of corporate offices in emerging economies including China, India, and Mexico on account of regulatory inclination to promote the manufacturing output on a domestic level is expected to remain a key driving factor over the next eight years.

Browse through Grand View Research's Advanced Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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