Tile Adhesive Market Application | Bostik, Sika AG, Saint Gobain Weber, Wacker Chemie AG, BASF SE, DowDuPont
Market Scope
The global tile adhesive market is slated to touch a valuation of USD 3.3 billion by 2023. It can display a CAGR of 9.29% over the forecast period. Increasing uses of tiles for wall and floor coverings, a spike in infrastructural projects, and a rise in commercial and residential buildings construction are major drivers of the market. An advantage of tile adhesives compared to the traditional method of soaking tiles in sand-cement mixture is likely to benefit the market. It can increase the bond strength between tiles.
Tile adhesives are used in the installation of tiles in commercial and residential buildings. They possess ultimate flexibility, shock & impact resistance, chemical resistance, and high bonding strength. The tile adhesive market report by Market Research Future (MRFR) consists of drivers, restraints, opportunities, and challenges for the period of 2018 to 2023 (forecast period). A separate sector entailing the impact of COVID-19 on the industry is written and explored in high detail.
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Competition Outlook
Fosroc International, Mapei SpA, Saint Gobain Weber, Sika AG, Bostik, BASF SE, Henkel AG & Co KgaA, DowDuPont, Inc, Wacker Chemie AG, 3M, and H.B. Fuller are key players of the global tile adhesive market.
Initiatives by governments for renovating old buildings and policies for encouraging tourism are likely to induce demand for tile adhesives. The rise in disposable income levels of customers and interest towards pleasing tile designs in residential and commercial settings can influence the market greatly. Product innovation by manufacturers in the form of reducing the drying period, increased fatigue resistance, and others for faster assembling of buildings and structures can fuel the market.
Segmentation
The global tile adhesive market is segmented by type, polymer chemistry, application, and end user.
Based on type, the global tile adhesive market is segmented into reactive tile adhesive, cementitious, and dispersion. The cementitious segment is expected to dominate the market over the forecast period by exhibiting a CAGR of 9.54%. Its low price and water-resistant properties for internal and external uses can fuel the segment growth. On the other hand, the dispersion segment was the second-largest in 2017.
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On the basis of the polymer chemistry, the market is segmented into styrene butadiene, acrylic, epoxy, vinyl acetate ethylene, have-veova, polyurethane, and others. Acrylic can lead the global tile adhesive market due to its corrosion resistant property. It is touted to exhibit 9.31% CAGR over the forecast period.
Based on the application, the market is segmented into glass, ceramic tile, vitrified tiles, mosaic, natural stone, and others. Ceramic tiles are likely to generate revenue for the global tile adhesive market due to their resistance to moisture and abrasion.
Based on the end user, the market is segmented into residential, commercial, and institutional segments. The residential segment is expected to lead the global tile adhesive market till 2023. It accounted for 64.5% share in 2017. This can be attributed to the uptick in urban renewal and slum redevelopment projects.
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Regional Analysis
MRFR in its report has offered an in-depth analysis of the market with respect to regions of North America, the Middle East & Africa (MEA), Latin America, Asia Pacific (APAC), and Europe.
APAC held the largest market share in 2017 and predicted to exhibit 9.68% CAGR over the forecast period. China is expected to be the biggest revenue generator owing to the sharp rise in infrastructural projects. The India tile adhesive market is touted to be highly lucrative owing to the use of water-resistant cements for external and internal uses. North America and Europe follow APAC in second and third positions respectively.
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