Tile Adhesive Market 2022 Opportunities and Key Players To 2030 - Wacker Chemie AG, Henkel AG & Co KgaA, DowDuPont, Inc, 3M, Fosroc International
Overview:
Tiles play an important role in uplifting the interior décor of any building. These tiles are getting substantially used in residential, commercial, or institutional buildings. They can be attached to walls or floors, and application of adhesives make it last long. These adhesives work as cohesive mechanisms, and helps in keeping a balance by providing excellent chemical resistance, high bond strength, shock & impact resistance, and ultimate flexibility. The global market for tile adhesive can expect a growth at an impressive CAGR to leap forward to USD 3.3 billion worth by the end of 2023. The forecast period (2015-2023) is expected to witness several changes due to the impacts of various factors. These have been recorded in detail in the report by Market Research Future (MRFR).
Factors like booming residential construction market, better growth in the infrastructural development activities, and surge in the use of tile to cover floor and wall in various building & construction. In addition, the rise in disposable income and growth in interest for its decorative and aesthetic purposes can improve the market in the coming years. Better growth in the disposable income can also transform the market scenario.
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Competitive Landscape:
The global market for tile adhesive is witnessing the entry of new players and their intense competition with existing market players who have made a name by providing extraordinary services to the market. All these players are getting involved in tactical battle where they are trying to set a firm step in the market. The process is also fueling the growth of the market. These companies are Saint Gobain Weber, Bostik, Sika AG, BASF SE, Wacker Chemie AG, Henkel AG & Co KgaA, DowDuPont, Inc, 3M, Fosroc International, H.B. Fuller, and Mapei SpA.
In September 2019, Walplast India announced that they have decided to make a new investment by expanding their existing plant in the Borgaon, Nagpur. The company is known for its extensive contribution in the manufacturing of tile adhesive and block jointing material.
Segmentation:
The global market for tile adhesives can be studied in the report in much detail as the report has it segmented into type, polymer chemistry, application, and end user. These segments hold various details on factors that can play a crucial role in deciding the future course of the market.
By type, the global market for tile adhesive includes dispersion, cementitious, and reactive tile adhesive.
By polymer chemistry, the market for tile adhesive can be segmented into vinyl acetate ethylene, acrylic, epoxy, have-veova, polyurethane, styrene butadiene, and others.
By application, the market for tile adhesive includes vitrified tiles, ceramic tile, mosaic, natural stone, glass, and others. The vitrified tile section is getting substantial recognition from various market players.
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By end user, the market for tile adhesive can be segmented into commercial, residential, and institutional segments. The residential segment is expected to make good grounds.
Regional Analysis:
MRFR, in its report, have included several regions like Middle East & Africa (MEA), Latin America (LATAM), Asia Pacific (APAC), North America, and Europe. These regions have been studied well on the basis of their demographic changes and various market dynamics that can impact the market considerably.
The APAC has the maximum market coverage and it can retain its market position in the coming years by using revenues generated by India, China, and other countries. In terms of growth, it can quite easily achieve a CAGR of 9.68% during the forecast period. China is expected to make the largest contribution to the regional market. It is also expected to dominate the coming years. This region is expected to have better thriving periods due to the hike in construction activities that can impact well in the coming years.
North America and Europe are expected to follow the lead of the APAC market with countries like the US, Canada, France, Germany, the UK, and others playing contributory roles. These regions are experiencing wide-spread growth in their construction activities both for their new buildings and renovation activities.
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