The global adhesive for resilient floor market is projected to reach a value of USD 2,969.5 million in 2024 and is expected to continue its growth at a compound annual growth rate (CAGR) of 6.3% throughout the forecast period. By 2034, the market is anticipated to nearly double, achieving an estimated value of USD 5,482 million. This growth is driven by the increasing demand for resilient flooring solutions in various sectors, including residential, commercial, and industrial applications, where strong, durable adhesives are essential for ensuring the longevity and performance of flooring systems.
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.
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.
Navigate the Adhesive for Resilient Floor Market Landscape with Expert Findings in the Complete Report!
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.
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.
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