Flooring Adhesive Market Analysis Report By Resin, By Application, By End-use, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global flooring adhesive market size was accounted for USD 4.7 billion in 2019. It is projected to grow at a CAGR of 5.4% over the forecast period, 2020 to 2027. The growing demand from the building & construction sector is boosting the market growth. In building construction, adhesive materials are required for carpet, ceramic tiles, resilient flooring, and flooring underlayment. According to the World Economic Forum data, the construction industry accounts for 6.0% of total GDP globally. Moreover, increasing demand from the household sector is projected to support the market growth.

In 2018, the construction sector in the U.S. has foreseen significant growth owing to low borrowing costs and wage growth. In addition, rising investment in megacities across the country is also projected to positively impact market growth. 

The flooring adhesive market in the U.S. is expected to grow at a CAGR of 5.6% over the forecast period. According to the Census Bureau of the U.S., in 2019, spending on construction has been increased to USD 1,365.1 billion from USD 1,333.1 billion in 2018.

Furthermore, aging infrastructure & buildings is a key factor responsible for the growth of the market. The U.S. has planned to spend USD 4.5 billion to upgrade its infrastructure by 2025.  This is projected to bolster the demand for flooring adhesive solutions. 

Resin Insights

By resin, in 2019, the acrylic type segment dominated the market with the highest volume share of more than 36.0% in the global market. Acrylic resins offer greater durability and take longer for drying surfaces. In addition, acrylic products provide different benefits like ultraviolet radiation, high oxidation resistance.

The polyvinyl acetate type segment is expected to grow at the highest CAGR of 5.8% during the forecast period, 2020 to 2027. These resins are widely used for wooden applications owing to their lower viscosity. Several wood flooring adhesives including dispersion, polyurethane, alcohol, and polymeric are used for flooring applications. The polymer-based adhesive solution provides elastic bonding for floor layers. In addition, these adhesives are used for sticking tiles, gluing wooden floors, and also in glass, soap-free surfaces. 

End-use Insights

Depending on the end-use, the floor adhesive market is segmented into commercial, residential and industrial. In 2019, the commercial end-use segment held the highest revenue share of over 33.9% in the overall market. The growing construction sector across emerging countries is mainly boosting the market growth. 

The increasing population and rapid urbanization in countries such as India, and China are contributing to market growth. Further, the growing service and manufacturing industries are also projected to offer ample growth opportunities for market growth. 

The residential end-use segment is expected to grow at a significant rate from 2020 to 2027. The rising need for affordable housing is proliferating growth, especially in emerging countries. Moreover, governments are also offering funding and incentives for housing development which in turn, is projected to bolster market growth. 

Application Insights

The application segment is comprised of wooden flooring, laminate flooring, resilient flooring, and others. In 2019, the resilient flooring segment led the market with the highest share of more than 53.0% in the overall market. These flooring types are cost-effective, waterproof, and highly durable. Various types of resilient flooring include vinyl, asphalt, polymeric, cork, linoleum, and rubber.

In resilient flooring, vinyl-type flooring held the largest share as they are inexpensive than others. Vinyl type includes luxury vinyl, solid vinyl tile, and composite tile. These floorings are produced from plastic and provide high moisture resistance. 

Synthetic material is used for producing laminated flooring. The material is composed of melamine resins and fiberboard material. These floorings are less expensive and provide high resistance in wear, tear & scratches. 

Regional Insights

In 2019, Asia Pacific dominated the floor adhesive market with the highest volume share of more than 40.0%. The increasing investment in the construction sector in countries like Japan and China is mainly boosting the market growth. From 2000, Japan has invested USD 230 billion in infrastructural development in the country. 

In 2019, North America contributed to the second-highest volume share of more than 26.0%. Supportive government initiatives such as incentives are boosting the growth of housing development across Canada and the U.S. For example, Canada Mortgage & Housing Corporation is providing USD 1.25 billion through incentives for people by 2022. 

COVID-19 Impact Insights

The outbreak of COVID-19 has negatively impacted the market. The COVID-19 pandemic has affected the demand for flooring adhesives products in the first & second quarters of 2020. Owing to the lockdown restriction, numerous construction activities have been halted. The labor shortage is the other major factor that led to the slow growth of construction activities.

In addition, product manufacturers are facing challenges due to supply chain disruption in raw materials. Several companies have suffered losses in their sales due to reduced demand. For example, Pidilite Industries has witnessed a decline of 8.07% in its net sales from January to March 2020.

Flooring Adhesive Market Share Insights

The market is characterized by the presence of local and international players. Key participants in the industry engage in new product developments and strategic mergers & acquisitions to remain competitive in the market. For instance, in 2019, Uzin Utz UK Ltd has introduced a new product called UZIN KE 49 HT. The product is highly pressure-sensitive and temperature adhesive. 

Leading players in the market include Sika AG, Bostik, Henkel AG, H.B Fuller, Pidilite Industries, Wacker Chemie AG, and Mapei S.p.A. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global flooring adhesive market report on the basis of resin, application, end-use, and region:

• Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Acrylic
    • Polyurethane
    • Polyvinyl Acetate
    • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Resilient Flooring
    • Wooden Flooring
    • Laminate Flooring
    • Others

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Residential
    • Commercial
    • Industrial

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • The Asia Pacific
        • China
        • Japan
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • Saudi Arabia