Tile Adhesive Market Report 2022 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2030
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.
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.
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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.
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.
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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.
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.
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