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Market Highlights:The Market Research Future (MRFR) report, following an analysis of the ongoing trends, states that the Global Tile Adhesive Market is expected to close in on the valuation of USD 3338.2 million by 2023. Furthermore, the market size will be expanding at a robust CAGR of 9.29% during the forecast period (2017-2023).
Leading Vendors:
The vendors currently at the top in the Global Tile Adhesive Market include Mapei SpA, Fosroc International, Saint Gobain Weber, Sika AG, BASF SE, Wacker Chemie AG, 3M, Henkel AG & Co KgaA, H.B. Fuller, DowDuPont, Inc, Bostik, among others.
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Industry Updates:
April 2019
Tile Doctor has launched its latest range of non-corrosive, sustainable and non-toxic products for applications involving tiles. These products have been developed in a bid to reduce the environmental as well as health effects. One of these products include Litokol Litoelastic EVO, which is an adhesive used for ceramic tiles as well as natural stones.
Growth Drivers and Key Barriers:
With the increase in the residential construction activities, rising use of tile for covering walls and floors in building and construction, and the growth in the development of infrastructure across the globe will give a substantial push to the growth of the Tile Adhesive Market in the coming years.
The surging disposable income combined with the increasing interest in the use of aesthetically appealing tiles in the commercial and residential sectors will help the worldwide Tile Adhesive Market to flourish during the assessment period. However, the threat from polymer-based tile adhesive could cause the market performance to wane in the years ahead.
Having said that, the continuous innovation taking place in the tile industry comprising of porcelain tiles that are used in bathrooms and kitchens will spur the growth of the market in the forthcoming years to a large extent. In addition, the stringent mandates furnished for the manufacturing processes around the world have prompted the manufacturers in making massive investments in the research and development of environment friendly tiling solutions. This factor has brought further success to the market in terms of revenue in recent years.
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Market Segmentation:
The Market for Tile Adhesive is segmented on the basis of Type, Polymer Chemistry, Application and End-User.
The Types of Tile Adhesive include cementitious, dispersion, and reactive tile adhesives. Out of these, the cementitious Tile Adhesive is in high demand with increasing use in fixing of tiles and its low price as compared to dispersion and reactive Tile Adhesives. Owing to this, the segment is poised to surge at the highest CAGR of 9.54% during the review period. Moreover, in 2017, the dispersion Tile Adhesive has been the second-largest segment, controlling about 19.89% of the overall market share.
The Segment Based on polymer chemistry are acrylic, vinyl acetate ethylene, have-veova, epoxy, styrene butadiene, polyurethane among others.
The applications covered in the report are ceramic tile, vitrified tiles, natural stone, mosaic, and glass among others.
The End Uses-Based Segments in the Global Tile Adhesive Market include residential, commercial and institutional segment. Among these, the residential segment is presumed to lead the global market with the share of 64.5%, as of 2017.
Regional Analysis:
The key regions covered by the MRFR report for the Global Tile Adhesive Market are Middle East & Africa (MEA), Asia Pacific (APAC), Latin America (LA), North America (NA) and Europe.
The Asia Pacific accounts for the largest market share, in terms of volume and value, trailed by North America and Europe. The region is anticipated to present various growth opportunities to the Tile Adhesive Market, expanding at a growth rate of 9.68% during the conjectured time frame. In the region, China will be spearheading the market growth with the largest share, on account of increasing construction activities within the region.
In North America, the elevated employment rate giving a major boost to the remodeling spending is resulting in the rise in the installation of tiles within the region. At the same time, there has been a growth in the construction of new housing units, which will ultimately spur the growth of the Tile Adhesive Market in the following years.
Europe market is on the way to success at a global level, as a result of the rise in the real estate as well as the construction industry within the region. Moreover, technological breakthroughs and product development strategies being adopted by the regional players will stimulate the growth of the market further in the near future.
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Website: https://www.marketresearchfuture.com/reports/tile-adhesive-market-1731
Release ID: 516292
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