Saudi Arabia Floor Adhesive Market to Grow with a CAGR of 4.15% through 2028
Growth in research and development activities is expected
to drive the Saudi Arabia Floor Adhesive Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Saudi Arabia
Floor Adhesive Market – By Region, Competition, Forecast and Opportunities,
2018-2028F”, the Saudi Arabia Floor Adhesive Market stood at USD 192.44
million in 2022 and is anticipated to grow with a CAGR of 4.15% in the forecast
period, 2023-2028. The initiatives taken by government based on floor adhesive has
led to favorable market conditions for the Saudi Arabia Floor Adhesive Market.
Several factors contribute to the growth of various floor adhesive market products.
One of the key initiatives that is
significantly boosting the floor adhesive market is the government's
comprehensive plan to develop the housing industry. With a strong focus on providing
affordable housing solutions to the population, this strategic approach has
sparked a remarkable increase in construction activities across various
regions. As a result, there has been a surge in the demand for high-quality
floor adhesives that are crucial in the construction of low-cost houses,
ensuring durability and longevity.
Moreover, the Saudi Arabian government, in line with
global sustainability trends, is actively promoting the construction of
energy-efficient buildings. This forward-thinking initiative not only aims to
reduce energy consumption but also emphasizes the importance of environmental
conservation. As a result, there has been a significant rise in the demand for
adhesives and sealants that contribute to enhancing energy efficiency in
building structures. These advanced adhesives not only provide excellent bonding
properties but also play a vital role in reducing energy wastage and improving
the overall sustainability of construction projects.
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Manufacturers are constantly allocating resources to
research and development (R&D) in order to create adhesives that not only
provide superior bonding strength and durability but also exhibit exceptional
resistance to environmental factors such as heat, moisture, and chemicals.
These adhesive properties make them the ideal choice for a wide range of
flooring applications, including high-traffic areas and environments with
challenging conditions. As a result, the demand for these advanced adhesives continues
to surge in the market, as more industries and sectors recognize their
significant benefits and long-term value.
The Saudi Arabia Floor Adhesive Market is segmented in
resin type, application, regional distribution, and company.
Based on its resin type, the acrylic adhesive segment
held the largest share in the market. One of the primary reasons for the
widespread dominance of acrylic adhesives in the market is their exceptional
set of properties. Acrylic adhesives not only offer excellent bonding strength,
durability, and resistance to environmental factors such as heat, moisture, and
chemicals, but they also exhibit remarkable versatility in various flooring
applications. Whether it's for hardwood, vinyl, or tile flooring, acrylic
adhesives provide a reliable and long-lasting solution, meeting the demands and
expectations of both professionals and homeowners alike. With their ability to
withstand heavy foot traffic, temperature fluctuations, and even the harshest
of conditions, acrylic adhesives have firmly established themselves as the
go-to-choice in the flooring industry.
Based on region, Northern & Central segment is
expected to grow during the forecast period.
These regions, including Eastern Province and Riyadh,
are not only the epicenters of industrial growth in Saudi Arabia but also
vibrant hubs of economic activity. With a diverse range of industries, such as
manufacturing, petrochemicals, and others, these areas have witnessed a
significant surge in demand for adhesives across various applications. This
upswing in demand has further propelled the growth of the floor adhesive
market, making it a thriving sector in the region.
Major companies operating in Saudi Arabia Floor
Adhesive Market are:
- Bostik SA
- Mapei S.P.A.
- Laticrete International Inc.
- Forbo Holding AG
- Wacker Chemie AG
- The Dow Chemical Company
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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 Saudi Arabia
Floor Adhesive Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Saudi Arabia Floor Adhesive Market By Resin Type (Polyurethane
Adhesive, Epoxy Adhesive, Vinyl Adhesive, Acrylic Adhesive, Others), By Application
(Wood, Carpet, Laminate, Tile & Stone, Others), By Region, By Competition Forecast & Opportunities,
2018-2028F”, has evaluated the future growth potential of Saudi Arabia 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 Saudi Arabia Floor Adhesive
Market.
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