Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Floor Adhesives Market Report (2023-2028)," the market is estimated at USD 1.92 billion in 2023. It is expected to register a CAGR of 4.85% during the forecast period.

Floor adhesive is a strong glue used to attach flooring materials to a subfloor or underlayment. Resin types include epoxy, polyurethane, acrylic, vinyl, and others. The rapidly growing global construction industry is increasing the demand for floor adhesives. The versatility, safety, and ease of application of floor adhesives are gaining more popularity. Increasing demand for bio-based floor adhesives is expected to present more opportunities for the market in the coming years.

Report Summary:

Key Highlights from the Global Floor Adhesives Market Report:

Increasing Demand from the Residential Sector

• Tile and stone adhesives are commonly used in residential construction, making it the fastest-growing segment in the market.

• The rising middle-class population and increasing disposable incomes have expanded the middle-class housing segment, driving the use of flooring adhesives.

• The global construction industry value has increased, with the highest growth expected in Asia-Pacific, particularly in China and India.

What are the Latest Developments in the Global Floor Adhesives Market?

• In August 2021, Arkema signed an agreement to acquire Ashland's Performance Adhesives business in the United States.

• In March 2021, Sika acquired the flooring adhesives business of DriTac, a US-based floor-covering adhesives company. 

  
  

Mordor Intelligence has Segmented the Global Floor Adhesives Market Based on Resin Type, Technology, Application, End-user Industry, and Geography.

• By Resin Type (Market Size and Forecast based on Value (USD billion), 2018-2028)

          Epoxy

          Polyurethane

          Acrylic

          Vinyl

          Other Resin Types

• By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)

          Water-borne

          Solvent-borne

          Other Technologies

• By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)

          Tile & Stone

          Carpet

          Wood

          Laminate

          Resilent Flooring

          Other Applications

• By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)

          Residential

          Commercial

          Industrial

• By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)

         Asia-Pacific:

            China

            India

            Japan

            South Korea

            Rest of Asia-Pacific

        North America:

            United States

            Canada

            Mexico

        Europe:

            Germany

            United Kingdom

            France

            Italy

            Rest of Europe

        South America:

           Brazil

           Argentina

           Rest of South America

        Middle East & Africa:

           Saudi Arabia

           South Africa

           Rest of Middle East & Africa