|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD 542.16
million
|
|
CAGR
(2023-2028)
|
3.86%
|
|
Fastest
Growing Segment
|
Acrylic
Adhesive
|
|
Largest
Market
|
South
Central
|
Market Overview
China Floor Adhesives Market has valued at USD 542.16
million in 2022 and is anticipated to project robust growth in the forecast
period with a CAGR of 3.86% through 2028. Floor adhesives are sticky substances
used for bonding floor coverings such as carpet, vinyl, wood, and tile to the
base surface. This market in China is segmented based on various factors
including resin type, technology, end-use, application, and region.
One of the key drivers behind this market's growth
is China's booming construction industry. As urbanization continues at a rapid
pace, the demand for residential and commercial buildings is increasing, which
in turn is spurring the need for floor adhesives. Additionally, the
government's focus on infrastructure development and the promotion of
sustainable construction practices are further fueling the demand for floor
adhesives in China.
Another factor contributing to the market's growth
is the increase in renovation and refurbishment activities. As people seek to
upgrade their homes and offices, the demand for floor adhesives is rising.
Moreover, the growing preference for aesthetically pleasing interiors is also
driving the demand for various types of floor coverings, thus boosting the
floor adhesives market. This trend is particularly evident in the hospitality
and retail sectors, where attractive flooring designs play a crucial role in creating
a welcoming and visually appealing environment for customers.
Considering the environmental concerns associated
with floor adhesives, there is also a growing demand for eco-friendly and low
VOC (volatile organic compound) adhesive products in the market. Consumers are
becoming more conscious of the impact of their choices on the environment,
leading to the adoption of sustainable flooring solutions and driving the
development of innovative and eco-friendly floor adhesives.
Overall, the future looks promising for China's
floor adhesives market. With continued urbanization, growth in the construction
industry, and an increase in renovation activities, the market is set to
continue its upward trajectory. Moreover, the presence of major players and the
potential to meet global demand further underscore the high growth potential of
this market. As the industry evolves, technological advancements in adhesives
and the introduction of new materials will continue to shape the market
landscape, offering exciting opportunities for innovation and growth in the
floor adhesives industry in China.
Key Market Drivers
Growth in Construction Industry
The construction industry in China has experienced
a remarkable period of substantial growth in recent years, fueled by the
country's continuous urbanization and the increasing demand for residential and
commercial buildings. This boom has had a significant impact not only on the
construction sector but also on the associated markets, such as the floor
adhesives market.
One of the driving forces behind this growth is the
relentless urbanization happening across China. As more people move to cities
and the need for housing and commercial spaces escalates, there is a surging
demand for floor adhesives to support the construction of these structures.
This demand is not limited to new constructions alone; it extends to renovation
and refurbishment activities as well. People are increasingly seeking to
upgrade their homes and offices, leading to a rise in the demand for floor
adhesives.
Additionally, the global construction industry
value has also witnessed an upward trend, with the highest growth anticipated
in the Asia-Pacific region, particularly in China and India. This presents a
tremendous opportunity for the floor adhesives market to expand and cater to
the growing needs of the construction industry in these regions.
Furthermore, the preference for aesthetically
pleasing interiors has become a significant factor driving the demand for
various types of floor coverings. As consumers strive to create visually
appealing spaces, the market for floor adhesives experiences a boost. Whether
it's hardwood, vinyl, or laminate flooring, these floor coverings require
reliable adhesives to ensure a strong and durable bond.
In conclusion, the growth of China's construction
industry is playing a pivotal role in driving the floor adhesives market. With
ongoing urbanization, increased renovations, and the potential to meet global
demand, the future looks promising for this flourishing market. As the
construction industry continues to thrive and evolve, the floor adhesives
market will continue to be a key beneficiary, supporting the development of
modern infrastructure and contributing to the overall growth of the economy.
Surge in Technological Advancements
In recent years, there has been a remarkable surge
in technological advancements across various sectors, revolutionizing the way
businesses operate and significantly impacting the floor adhesives market in
China. These developments, which encompass a wide range of innovations from
artificial intelligence (AI) to automation, have shaped the industry landscape
in unprecedented ways.
One area where technology has made a profound
impact is in the manufacturing process of floor adhesives. The advent of
advanced machinery and automation has not only enhanced production efficiency
but also enabled higher output at lower costs. This increased efficiency has,
in turn, propelled the growth of the floor adhesives market, as manufacturers
are now able to meet the escalating demands of the industry.
Furthermore, the adoption of cutting-edge
technologies like AI and machine learning has empowered manufacturers to
develop superior quality adhesives. These technologically advanced adhesives
are not only highly effective but also environmentally friendly, aligning with
the growing global emphasis on sustainability and eco-consciousness.
In conclusion, the surge in technological
advancements has played a pivotal role in driving the remarkable growth of
China's floor adhesives market. As technology continues to evolve at an
unprecedented pace, it is expected to further shape and transform this market,
offering abundant opportunities for continued growth, development, and
innovation.
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Key Market Challenges
Volatility in Price of Raw Materials
Floor adhesives play a crucial role in the
construction and renovation sectors, serving as the backbone for securely
bonding various types of floor coverings to the base surface. These adhesives
are manufactured using a combination of high-quality raw materials, including
resins, solvents, additives, and fillers, which ensure the durability and
longevity of the bond.
In recent times, the prices of these raw materials
have experienced significant fluctuations, presenting a formidable challenge
for manufacturers in the floor adhesives market. These price fluctuations can
be attributed to various factors such as disruptions in the global supply
chain, increased demand for raw materials, and geopolitical tensions that
impact their availability and cost.
The impact of these price fluctuations reverberates
throughout the industry. Notably, higher costs of raw materials directly
translate to increased production costs for manufacturers, which may then be
passed on to the consumers in the form of higher prices for floor adhesives.
This, in turn, can potentially lead to a decline in demand for these products,
ultimately affecting the overall growth of the market.
Furthermore, the unpredictability associated with
the costs of raw materials poses a significant challenge for manufacturers in
terms of planning their budgets and production schedules effectively. The
uncertainty surrounding raw material prices can hinder operational efficiency
and potentially impact the profitability of businesses in the sector, as it
becomes difficult to anticipate and manage costs effectively.
Given these intricate dynamics, manufacturers in
the floor adhesives market must closely monitor and adapt to the fluctuations
in raw material prices. By implementing strategic sourcing practices,
maintaining strong supplier relationships, and exploring alternative materials,
manufacturers can mitigate the impact of these price fluctuations and ensure
the continued growth and success of their businesses.
Key Market Trends
Growing Demand of Moisture Control and Vapor
Barrier Adhesives
China's floor adhesives market, a highly dynamic
and rapidly evolving sector, holds immense growth potential. Currently, there
is a notable surge in the demand for moisture control and vapor barrier
adhesives, signaling a promising trend. This growing demand is primarily driven
by the construction industry's increasing need for high-performance barriers
that provide exceptional protection against moisture and vapor transmission.
Floor adhesives play a vital role in bonding
various floor coverings to the base surface, ensuring durability and stability.
With the ongoing boom in construction activities across China, encompassing
both new constructions and renovation projects, the demand for these adhesives
has witnessed a significant upswing.
Within this sector, a key trend has emerged,
highlighting the escalating demand for moisture control and vapor barrier
adhesives. These adhesives offer advanced protection against moisture
infiltration, making them particularly suitable for areas prone to dampness,
such as basements and bathrooms. By effectively blocking the passage of
moisture, they mitigate the risk of issues like mold growth and structural
damage, thereby extending the lifespan of the flooring.
In conclusion, the upward trajectory of the demand
for moisture control and vapor barrier adhesives is a highly significant trend
shaping China's floor adhesives market. As the construction industry continues
to flourish and the requirement for high-performance moisture-resistant
solutions becomes more pronounced, this trend is expected to gain further
momentum, effectively driving the growth of the market.
Segmental Insights
Resin Type Insights
Based on the category of resin type, the acrylic adhesive
segment emerged as the dominant player in the Chinese market for Floor
Adhesives in 2022. Acrylic adhesives offer a unique combination of features
that make them particularly suitable for a wide range of flooring applications.
With their excellent adhesion to various surfaces, resistance to UV light, and
superior performance in both high and low-temperature conditions, acrylic
adhesives have become the top choice in the market. Their exceptional
properties not only ensure strong bonding but also contribute to the durability
and longevity of flooring installations.
Furthermore, the growth of the acrylic adhesives
market in China is closely tied to the country's booming construction industry.
As the demand for new constructions continues to rise, the need for
high-performance adhesives like acrylics becomes even more crucial. These
adhesives play a vital role in ensuring the stability, strength, and longevity
of the structures, meeting the rigorous requirements of the construction
projects.
The versatility of acrylic adhesives makes them
highly sought-after in the market, catering to various flooring applications in
both residential and commercial sectors. As the construction industry expands
and evolves, the demand for acrylic adhesives is expected to continue its
upward trajectory, driving the growth of the market in China and beyond.
Application Insights
The tile & stone segment is projected to
experience rapid growth during the forecast period. The increasing awareness
about the numerous benefits of tile adhesives has played a significant role in
driving their demand. Tile adhesives not only offer improved tile strength and
slip resistance but also provide exceptional durability, ensuring long-lasting
flooring solutions. This makes them an ideal choice for a wide range of
flooring applications, including residential, commercial, and industrial
settings.
In addition to the aforementioned benefits, the
growing trend towards low VOC emitting products has further boosted the
popularity of tile adhesives. As more and more consumers prioritize
eco-friendly solutions, tile adhesives have emerged as a preferred option.
These adhesives emit lower levels of volatile organic compounds (VOCs) compared
to traditional adhesives, making them environmentally friendly and safe for
both installers and occupants of the space.
Another significant factor contributing to the
dominance of tile and stone in the floor adhesives market is the robust growth
of the construction industry in China. The country's rapid urbanization and
increasing demand for new constructions have led to a surge in the use of tiles
and stones for flooring purposes. This, in turn, has created a strong demand
for high-quality adhesives specifically designed for these materials. With
their exceptional bonding properties and compatibility with various tile and stone
types, tile adhesives have become an indispensable component of the
construction industry, ensuring reliable and aesthetically pleasing flooring
installations.
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Regional Insights
South Central emerged as the dominant player in the
China Floor Adhesives Market in 2022, holding the largest market share in terms
of value. The South Central region of China, renowned for its robust industrial
sector, encompasses a diverse range of industries that rely heavily on various
types of adhesives. With the presence of these industries, the region emerges
as a significant consumer of floor adhesives, thereby driving the demand for
these products.
Notably, the construction industry in the South
Central region has experienced remarkable growth in recent years. This surge is
attributed to an increase in both new construction projects and renovation
activities taking place throughout the region. As floor adhesives play a vital
role in construction activities, this upsurge in construction and renovation
endeavors has further contributed to the escalating demand for floor adhesives.
Such demand is driven by the need for reliable and
high-quality adhesives that can ensure the durability, stability, and longevity
of various flooring applications. From commercial buildings to residential
complexes, the requirement for effective floor adhesives remains paramount in
achieving optimal construction outcomes.
As a result, manufacturers, and suppliers of floor
adhesives in the South Central region are continuously innovating and refining
their products to meet the evolving needs of the construction industry. This
dedication to providing superior adhesives not only supports the region's industrial
growth but also fosters the development of sustainable and resilient built
environments.
In summary, the South Central region of China
stands out as a hub for industries that rely on different types of adhesives,
particularly floor adhesives. The region's thriving construction sector, fueled
by new construction and renovation projects, has amplified the demand for these
adhesives. With a focus on durability and performance, the industry continues
to evolve, ensuring the availability of cutting-edge adhesives that meet the
highest standards of quality and reliability.
Recent Developments
- In December 2021, under the Nuplaviva brand, Arkema
proudly unveiled an innovative lineup of disposable hygiene adhesive solutions.
These cutting-edge products are meticulously formulated with bio-based
renewable content, reflecting our commitment to sustainable and eco-friendly
practices. With this exciting launch, we aim to revolutionize the field of
disposable hygiene and provide enhanced solutions to meet the evolving needs of
consumers worldwide.
Key Market Players
- Bostik Findley China Co. Ltd.
- Mapei
China Ltd.
- Laticrete
International (China) Co. Ltd.
- Forbo
Shanghai Co., Ltd.
- Dow
Chemical China Co. Ltd.
- Sika
China Ltd.
|
By Resin
Type
|
By Application
|
By Region
|
- Polyurethane Adhesive
- Epoxy Adhesive
- Vinyl Adhesive
- Acrylic Adhesive
- Others
|
- Wood
- Carpet
- Laminate
- Tile & Stone
- Others
|
- East
- North & North-East
- Southwest
- South Central
- Northwest
|
Report Scope:In this report, the China Floor Adhesives Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- China Floor Adhesives Market, By Resin Type:
o Polyurethane Adhesive
o Epoxy Adhesive
o Vinyl Adhesive
o Acrylic Adhesive
o Others
- China Floor Adhesives Market, By Application:
o Wood
o Carpet
o Laminate
o Tile & Stone
o Others
- China Floor Adhesives Market, By Region:
o East
o North & North-East
o Southwest
o South Central
o Northwest
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the China
Floor Adhesives Market.
Available Customizations:
China Floor Adhesives Market report with the given
market data, TechSci Research offers customizations according to a company's
specific needs. The following customization options are available for the
report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
China Floor Adhesives Market is an upcoming report
to be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]