From 2019 to 2023, the global Adhesive for Resilient Floor Market grew from USD 2,525.1 million to USD 2,809.7 million, driven by increased demand for durable flooring solutions and improved international trade. The market is set to reach USD 2,969.5 million by 2024 and surge to USD 5,482 million by 2034, growing at a CAGR of 6.3%. This expansion is fueled by robust construction activities and infrastructure development, particularly in emerging economies.

NEWARK, DE / ACCESSWIRE / August 25, 2024 / The global adhesive for resilient floor market share is expected to reach USD 2,969.5 million in 2024, with a projected value of USD 5,482 million by 2034, growing at a CAGR of 6.3% over the forecast period. The market is anticipated to experience a year-on-year growth rate of 5.7% in 2024, driven by factors such as urbanization, economic growth in East Asia, and rising construction activities worldwide.

Market Drivers and Trends

The 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 projected to grow at an annual rate of 8.5%, supporting the need for high-quality flooring materials and adhesives.

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

Key Industry Highlights

• The construction sector's growth is a crucial driver for resilient floor adhesives, with significant investments in both new builds and renovations across developed and emerging regions.

• The rising demand for eco-friendly, low-VOC, and water-based adhesives, spurred by stringent environmental regulations, is shaping market trends.

• The global rise in renovations presents substantial growth opportunities, especially in developed markets like the U.S. and Europe, where a significant portion of construction activities involve upgrading existing structures.

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

Regional Insights

• South Korea: Expected to grow at a CAGR of 8.5%, driven by a recovery in the construction sector and increasing demand for resilient flooring in commercial and residential spaces.

• India: Anticipated to rise at a CAGR of 7.9%, supported by rapid urbanization and a growing preference for durable flooring solutions.

• China: Projected to grow at a CAGR of 7.5%, with a focus on water-based adhesives due to strict environmental norms and a booming urban population.

Key Trends:

Renovation and Remodeling: A global rise in renovation activities is creating significant opportunities for adhesives specifically designed for resilient floors.

Eco-friendly Solutions: Growing environmental awareness is leading to increased demand for sustainable adhesives, especially in regions with stringent regulations like the United States and Europe.

Full Report URL: https://www.futuremarketinsights.com/reports/adhesive-for-resilient-floor-market

Competitive Landscape

Key players in the industry include Pidilite Industries Limited, Dow Chemicals, Huntsman Corporations, Sika AG, Mapei SpA, Ardex, Henkel AG & Co, and H.B. Fuller. The global adhesive for resilient floor market is highly fragmented with a mix of large-scale leaders and several small-scale regional players creating a dynamic environment for growth.

This structure facilitates a competitive landscape that demands innovation and adaptability. This further opens up new opportunities for growth and expansion.

Manufacturers in the industry are progressively investing in the development of sustainable materials amid the rising demand for eco-friendly solutions across several industries. They are providing their consumers with customized and aesthetically appealing materials and designs to stand out among competitors. The market is witnessing substantial investments in research and development to facilitate the adoption of bio-based materials in the industry.

• Tier 1 Companies: Dominating with a 40-45% market share, these companies have extensive product portfolios, high production capacities, and a global reach. Key players include Henkel AG & Co., Sika AG, The Dow Chemical Company, and 3M Company.

• Tier 2 and 3 Companies: These companies focus on specific regions, with annual revenues ranging from USD 1,500 million to USD 9,000 million. They play a crucial role in local markets, offering tailored solutions and ensuring regulatory compliance.

Industry Updates

• In May 2024, H.B. Fuller, headquartered in Minnesota, acquired ND Industries, a provider of specialty adhesives. This acquisition is anticipated to accelerate the realization of the organization's top growth priorities.

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

Leading Adhesive for Resilient Floor Brands

• Pidilite Industries Limited

• Dow Chemicals

• Huntsman Corporations

• Sika AG

• Mapei SpA

• Ardex

• Henkel AG & Co

• H.B Fuller

• Forbo Holding

• 3M

• Arkema S.A

• Panacol-Elosol GmbH

• Wacker Chemie AG

• Laticrete International

• Bono AB

Key Segments of Market Report

By Resin Type:

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

By Formulation:

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

By Floor Type:

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

By End-use:

Residential, commercial, and industrial are the main end-uses. Residential is further segregated into single-family homes and apartments. Commercial is divided into offices, retail spaces, sports arena, healthcare facilities, and hotels and restaurants. Industrial is classified in warehouses and shop floors.

By Region:

The market is spread across North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa.

Have a Look at the Related Reports of the Chemicals & Materials Domain:

The global vinyl flooring market Size is projected to attain a valuation of USD 29,885.25 million in 2023 and is estimated to reach USD 57,699.15 million by 2033 while exhibiting a CAGR of 6.8% during the forecast period.

The global acrylic adhesives market share is projected to increase at a CAGR of 4.29% in the forecast period from 2023 to 2033 where the market size in 2023 was USD 2.59 billion, and in 2033 it will reach USD 3.92 billion.

The sales of polyurethane (PU) adhesives are estimated to propel with the top 3 countries projected to hold approximately 30 to 35% of the market by the end of 2022.

The overall demand for electronics adhesives market, which is projected to grow at a CAGR of 9.0% between 2023 and 2033, totaling around USD 12.1 billion by 2033.

The global tile adhesive market size is expected to attain a valuation of USD 2.67 billion in 2023 and is projected to reach USD 5.2 billion by 2033, trailing a CAGR of 6.9% during the forecast period.

Global demand for hot melt adhesives is expected to register a CAGR of 5.3% by accumulating a market value of USD 12,675.5 Million.

Worldwide sales of industrial adhesives are estimated to rise at a CAGR of 4.4% from USD 57,444 million in 2023 to USD 85,786.4 million by the end of 2033.

The global concrete floor coatings market share was estimated to reach a valuation of USD 4.95 Billion in the year 2022. With a steady CAGR of 5.4% from 2023 to 2033.

The global floor screed industry value reached USD 13578.8 million in 2023. Over the forecast period, the value is anticipated to rise at 6.1% CAGR.

The global building thermal insulation market size is estimated to be worth USD 29,034 Million. The market is expected to grow at a CAGR of 4.3% during the forecast period.

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