United States Floor Adhesive Market to Grow with a CAGR of 5.52% through 2028
Surge in
research and development activities is expected to drive the United States
Floor Adhesive Market growth in the forecast period, 2024-2028
According to
TechSci Research report, “United States Floor Adhesive Market – By Region,
Competition, Forecast and Opportunities, 2018-2028”, the United
States Floor Adhesive Market stood at USD1.61 billion in 2022 and is
anticipated to grow with a CAGR of 5.52% in the forecast period, 2023-2028. The
initiatives taken by government based on floor adhesive has led to favorable
market conditions for the United States Floor Adhesive Market. Several factors
contribute to the growth of various floor adhesive products.
Governments across
the globe are actively encouraging and promoting sustainable construction
practices. This United States push for sustainability is significantly
influencing the floor adhesive market. In response, manufacturers of flooring
adhesives are proactively developing and introducing more environmentally
friendly and sustainable products, even in the absence of strict government
regulations.
One notable
example of this industry's commitment to sustainability is the reintroduction
of biomass balance to flooring adhesives. By incorporating biomass-based
materials in their production processes, these adhesives are able to reduce
their overall environmental impact. This not only aligns with the growing
demand for eco-friendly solutions but also showcases the industry's dedication
to reducing its carbon footprint.
Moreover,
diverse government initiatives aimed at promoting industrial expansion are also
playing a role in shaping the adhesive market. These initiatives specifically
support the use of adhesives in various applications, including the
installation of tiles on walls, floors, and even swimming pools. As a result,
the adhesive market is experiencing a surge in demand, driven by the need for
efficient and reliable bonding solutions in construction projects.
Overall, the
combination of government efforts, industry innovation, and the growing
awareness of sustainability is transforming the floor adhesive market. With a
focus on environmentally friendly practices and the development of advanced
adhesive solutions, this industry is embracing a more sustainable future.
Technological
advancements have played a pivotal role in driving research and development
initiatives within the floor adhesive industry. The primary focus has shifted
towards the creation of high-performance adhesives that offer superior
adhesion, resistance to heat and chemicals, and long-term stability. The
ultimate objective is to develop products that can effectively cater to diverse
applications and withstand varying environmental conditions.
In response to
the growing awareness about the environmental impact of construction materials,
considerable efforts are being directed towards the development of more
sustainable adhesive solutions. The research and development activities aim to
create adhesives that not only exhibit high efficiency but also align with
environmental considerations. This includes exploring innovative options such
as biomass balance in flooring adhesives, which effectively reduces the overall
environmental footprint of these products.
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"United States Floor Adhesive Market”
The United
States Floor Adhesive Market is segmented into resin type, technology,
application, regional distribution, and company. Based on its resin type, the acrylic adhesive
segment held the largest share in the market. Acrylic adhesives are widely
recognized as the most commonly used floor adhesives, attributed to their
exceptional properties that include superior bonding capabilities and
adaptability to diverse landscapes. These adhesives play a crucial role in
enhancing throughput and productivity in various applications. Notably, they
exhibit remarkable resistance to extreme temperatures, enabling them to
maintain their adhesive strength even in challenging environments. Moreover,
acrylic adhesives possess exceptional impact and peel resistance, ensuring
durability and longevity. Additionally, they offer the advantage of
compatibility with both porous and nonporous substrates, providing flexibility
in installation. With their versatile bonding capabilities, acrylic adhesives
are well-suited for a wide range of materials including aluminum, plastics,
steel, and even oily metal surfaces.
Based on region,
Midwest segment is expected to grow during the forecast period. In recent
years, there has been a noticeable increase in emphasis on residential and
institutional construction activities in Midwest region. This surge in
construction projects has created a significant demand for flooring adhesives
in the region over the forecast period.
Notably, in
2018–19, the U.S. Government-led fiscal stimulus played a crucial role in
boosting the confidence of businesses based in the country. This confidence, in
turn, led to sustained construction spending in the U.S., thereby fueling the
growth of the flooring adhesive market.
What makes this
growth even more remarkable is the fact that construction activities were
considered essential services in different parts of the country during the challenging
year of 2020. Despite the ongoing pandemic, the construction industry in the
U.S. remained active, resulting in an overall increase in construction
spending. This unexpected resilience of the construction sector during such
trying times led to a surge in the demand for flooring adhesives in the
country.
The continuous
growth of the flooring adhesive market in the U.S. serves as a positive
indicator of the robustness of the construction industry in the country. With
increasing construction projects and the essential role of flooring adhesives
in ensuring durable and reliable flooring solutions, the demand for these
adhesives is expected to stay strong in the foreseeable future.
Major companies
operating in United States Floor Adhesive Market are:
- Mapei
S.p.A.
- Sika
AG
- Henkel
AG
- The
Dow Chemical Company
- Wacker
Chemie AG
- Bostik
SA
- Forbo
Holdings AG
- Pidilite
Industries Limited
- LATICRETE
International Inc.
- Dupont
De Nemours Inc.
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“Growing
application of floor adhesive in various end user industries are key drivers of
the floor adhesive market. Growth in competitive landscape and presence of
well-established companies in the market who are dedicated to enhance their
productivity of floor adhesive with every passing year are anticipated to
register an impressive growth to United States Floor Adhesive Market in the
forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“United States
Floor Adhesive Market Segmented By Resin Type (Polyurethane Adhesive, Epoxy
Adhesive, Vinyl Adhesive, Acrylic Adhesive, Others), By Technology (Water-Based
Adhesive, Hot-Melt Adhesive, and Solvent-Based Adhesive), By Application (Wood,
Carpet, Laminate, Tile & Stone, Others), By Region, Competition, Forecast
and Opportunities, 2018-2028”, has evaluated the future growth
potential of United States Floor Adhesive Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in United States Floor Adhesive Market.
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