Flooring Adhesive Market Size, Share & Trends Report

Flooring Adhesive Market Size, Share & Trends Analysis Report By Resin (Acrylic, Polyurethane, Polyvinyl Acetate), By Application (Resilient Flooring, Laminate Flooring), By End-use, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Sep, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-123-5
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 84

Report Overview

The global flooring adhesive market size was valued at USD 4.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2020 to 2027. Long-term demand from the building and construction sector is projected to assist in the growth of the market. The building and construction sector requires various adhesives for various applications, such as ceramic tiles, carpet, flooring underlayment, and resilient flooring. As per the World Economic Forum, the construction sector constitutes 6% of the global GDP with revenue of around USD 10 trillion. With increasing population and housing demand, the sector is projected to witness moderate growth in the long run, providing numerous opportunities for flooring adhesives vendors.

U.S. flooring adhesives market size

The U.S. construction sector witnessed positive growth in 2018, mainly due to wage growth and low borrowing costs for additional housing. This was supported by the flow of investment in major cities. However, the construction sector in the U.S. witnessed a slowdown in 2019 and is poised to witness lower growth in 2020.

The U.S. flooring adhesives market is projected to expand at a rate of 5.6% from 2020 to 2027, in terms of revenue. As per the U.S. Census Bureau, the total construction spending in the U.S. increased from USD 1,333.1 billion in 2018 to USD 1,365.1 USD billion in 2019. The residential and non-residential sectors accounted for the growth of -2% and 6% in 2019 compared to 2018.

The aging of infrastructure remains one of the key concerns in the building and construction sector of the country. The U.S. needs to upgrade its infrastructure and is likely to spend USD 4.5 billion by 2025. This is anticipated to drive the demand for flooring adhesive products over the coming years.

Resin Insights

The acrylic segment accounted for a volume share of over 36.0% in 2019 and is anticipated to maintain its lead during the forecast period. Acrylic compounds are used to provide more durability to the floors and take a longer duration to completely dry the surfaces in flooring applications. Acrylic-based products offer a wide range of benefits, such as resistance to oxidation, ultraviolet radiation, and chemicals and the ability to operate at various temperatures.

The polyvinyl acetate segment is likely to register the fastest CAGR of 5.8% from 2020 to 2027, in terms of volume. These products are used in wood applications on account of their fast setting capability and low viscosity. Wood flooring refers to products that are manufactured from timber and are specifically made for floor applications.  

The use of various wood flooring adhesives, including polymeric, polyurethane, dispersion, and alcohol, depends on the type of wood required and climate. MS polymer-based hybrid adhesive offers direct elastic bonding between two layers of floors when used with underfloor heating. It is used to glue the wooden floor to tiles or non-absorbent defatted and soap-free surfaces, such as natural stone and glass.

End-use Insights

The commercial segment held the largest revenue share of 33.9% in 2019. After 2016, the construction sector in emerging economies is growing at a rate of 5 to 7 percent, which is higher than in developed countries. Most of these economies are projected to grow double in size over the next decade. The main growth drivers for commercial construction are Asia Pacific countries, including India and China, South America, Middle East, Eastern Europe, and some countries in Africa.

The anticipated economic growth in these regions is supported by the growing population in the Asia Pacific (Except Japan), Middle East, and South America. China and India have a population of 1.42 billion and 1.35 billion, respectively, and are the top populous countries in the world. Expansion of the manufacturing and service sectors due to the increasing population in these regions has created opportunities for commercial construction.

The residential segment is expected to witness significant growth over the forecast period. The need for affordable housing is increasing due to incessant population growth in emerging economies. The government in these countries are offering incentives and funding for the first time home buyers. This, in turn, has boosted the demand for flooring adhesives owing to rising residential construction activities.

Application Insights

Resilient flooring accounted for the largest share of over 53.0% in 2019, in terms of revenue. According to the Resilient Floor Covering Institute, there are six types of resilient floorings: cork, polymeric poured seamless floors, rubber, vinyl, asphalt, and linoleum. These floorings are waterproof, cost-effective, durable, and require less maintenance.

Global flooring adhesives market share

Vinyl flooring accounts for the largest share in the resilient flooring market owing to its inexpensiveness. Vinyl flooring includes vinyl composition tile, solid vinyl tile, and luxury vinyl tile. It is made from plastic and offers superior resistance to moisture, and hence, is preferred in bathroom and damp areas.

Laminated flooring is made from synthetic materials that are fused together. It consists of layers that are mostly composed of fiberboard materials and melamine resins. It is stain resistant, 50% less expensive, more durable, offers better resistance to scratches and wear and tear, and is easier to clean compared to hardwood flooring.

Regional Insights

The Asia Pacific held the largest volume share of over 40.0% in 2019. South East Asia is one of the emerging regions in the global market. There is a need for a significant investment in order to reduce the infrastructure gap in this region. Countries including China and Japan have started investing in this region. From 2000, Japan has financed around USD 230 billion of projects while China invested around USD 155 billion in the improvement of infrastructure of the region.

North America accounted for a volume share of over 26.0% in 2019. Incentives for the first time home buyers are projected to assist the residential construction in Canada and other countries. In 2019’s budget, the government of Canada proposed incentives for the first home buyers and through this scheme, Canada Mortgage and Housing Corporation (CMHC) will provide around USD 1.25 billion over the next three years.

The emergence of the COVID-19 pandemic has affected the flooring adhesives products in the first half of 2020. With the imposition of lockdown and closure of non-essential business activities, numerous countries witnessed halting of construction activities. This has affected the growth of the building and construction sector, thereby decreasing the demand for flooring adhesive products in 2020.

Key Companies & Market Share Insights

Market vendors are adopting various organic and inorganic growth strategies to increase their market share. New product development and mergers & acquisitions are projected to remain key strategies adopted by market players. In February 2019, Uzin Utz UK Ltd. launched a new flooring adhesive product known as ‘UZIN KE 49 HT’. The product finds application during vinyl and luxury vinyl tile (LVT) installations in flooring projects. It has hybrid properties and provides flexibility for contractors during installations. Owing to such properties, the product can be used as a high-temperature adhesive or pressure-sensitive adhesive. Thus, new product development in the market is anticipated to provide a competitive edge for market vendors over the coming years. Some of the prominent players in the flooring adhesive market are:

  • Henkel AG

  • Bostik

  • Sika AG

  • The Dow Chemical Company

  • H.B. Fuller

  • Mapei S. p. A.

  • Pidilite Industries

  • Wacker Chemie AG

Flooring Adhesive Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 4.6 billion

Revenue forecast in 2027

USD 7.1 billion

Growth Rate

CAGR of 5.4% from 2020 to 2027 (Revenue-based)

Market demand in 2020

2,100.6 kilotons

Volume forecast in 2027

3,219.7 kilotons

Growth Rate

CAGR of 5.1% from 2020 to 2027

Base year for estimation

2019

Actual estimates/Historic data

2016 - 2018

Forecast period

2020 - 2027

Quantitative Units

Volume in kilotons, revenue in USD million, and CAGR from 2020 to 2027

Report coverage

Revenue and volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Resin, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

The U.S.; Canada; Mexico; The U.K.; Germany; France; India; China; Japan; Brazil; Saudi Arabia

Key companies profiled

Henkel AG; Bostik; Sika AG; The Dow Chemical Company; H.B. Fuller; Mapei S. p. A.; Pidilite Industries; Wacker Chemie AG

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Segments Covered in the Report

This report forecasts volume and revenue growth at the 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, Grand View Research has segmented the global flooring adhesive market report based on 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

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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