Market Research Report
Global Tile Adhesive Market Research Report - Forecast to 2023
|Published by||Market Research Future||Product code||649870|
|Published||Content info||241 Pages
Delivery time: 1-2 business days
|Global Tile Adhesive Market Research Report - Forecast to 2023|
|Published: May 7, 2018||Content info: 241 Pages||
Tile adhesive is used to join two substrates and offer excellent chemical resistance, shock & impact resistance, high bond strength, and ultimate flexibility. The tile adhesive works on the basis of cohesive mechanisms and adhesion mechanisms.
The tile adhesive market across the world is expected to reach USD 3338.2 million by the end of 2023. The growth of the tile adhesive market can be attributed to the high demand from the residential construction activities, growth in the number of infrastructural projects, and the increasing use of tiles to decorate floors and walls. Additionally, the high disposable income and the growing interest amongst the consumer regarding the use of decorative and aesthetically pleasing tiles in commercial and residential buildings are likely to propel the market growth. The rapid growth in the building and construction sector across the globe has boosted the demand for the tile adhesives. Furthermore, favoring government schemes in developing nations of Asia Pacific are projected to push residential construction activities in the region further. For instance, Prime Minister Narendra Modi has implemented Pradhan Mantri Awas Yojana in India to provide housing to all. The adhesive tile market in the residential segment was valued USD 1262.3 million in 2017 and is expected to reach USD 2172.0 million by the end of the forecast period.
Global Tile Adhesive Market Share, by Application 2016, (%)
Source: MRFR Report
Global tile adhesive market is segmented into five different regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific accounted for the major market share of about 46% in terms of value and was valued at USD 896.7 million in the year 2017. The region is projected to grow at a CAGR of 9.68% during the review period. China was the major contributor to the regional market and is likely to continue contributing the same owing to the growing construction activities in the region. Asia Pacific was followed by Europe and North America. North America is projected to grow at CAGR of 9.28% to reach a value of USD 351.0 million over the assessment period 2017-2023.
Based on the type, the global tile adhesive market is segmented into cementitious, dispersion and reactive tile adhesive. On the basis of the polymer chemistry, the market is segmented into acrylic, vinyl acetate ethylene, have-veova, epoxy, styrene butadiene, polyurethane among others. Based on the application, the market is segmented into ceramic tile, vitrified tiles, natural stone, mosaic and glass among others. Additionally, based on the end user, the market is segmented into residential, commercial and institutional segments.
Some of the key players operating in the global Tile Adhesive market are Bostik, Sika AG, Saint Gobain Weber, Wacker Chemie AG, BASF SE, DowDuPont, Inc, 3M, Henkel AG & Co KgaA, H.B. Fuller, Fosroc International, Mapei SpA among others.
The geography covered in the report are:
Over the past few years, the global tile adhesive market is projected to reach USD 3338.2 million at a CAGR of 9.29% over the review period. Cementitious tile adhesive segment accounted for the largest market share of 70.2% in 2017 with a value of USD 1374.2 million and is projected to grow at the highest CAGR of 9.54%. This market growth is attributed to the relatively low cost and wide availability of cementitious tile adhesives in the market. Among different end uses, the residential segment is estimated to be the largest application, which accounted for 64.5% value share in 2017