A flooring adhesive is a strong, permanent glue for adhering flooring materials to a subfloor or underlayment. It may be composed of many components such as polymers, oligomers, fillers, and additives from either natural or synthetic sources. Different types of floor adhesives are recommended for the different types of flooring, although few multi-purpose solutions can be used efficiently with several materials which include residential flooring, sports flooring, and non-residential flooring.
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Data Bridge Market Research analyses that the North America Floor Adhesive Market is expected to grow at a CAGR of 4.8% from 2023 to 2030 and is expected to reach USD 1,823.74 million by 2030. Active collaboration, launches, and promotional efforts from the key market players are creating a new opportunity for the North America floor adhesive market to grow in the upcoming years.
Key Findings of the Study
INCREASING CONSTRUCTION AND INFRASTRUCTURE DEVELOPMENT may drive the market growth
The construction and infrastructure development sectors have expanded significantly in recent years in North America. The rise is primarily driven by several causes, including population growth, urbanization, economic stability, and government efforts. Therefore, the demand for floor adhesives, which play an important role in securing and installing flooring materials, has increased significantly.
North America's population continues to rise steadily, resulting in growing urbanization. The need for residential and commercial space grows as more people move to cities. Therefore, the construction industry is seeing an increase in building projects such as residential complexes, office buildings, shopping malls, and educational institutions. The usage of floor adhesives is required for the installation of flooring materials in these constructions, which drives the demand for floor adhesives in the region.
In addition, technological innovations have transformed the construction business, allowing for speedier and more efficient construction procedures. Modern flooring options like pre-finished and modular flooring systems are more popular since they are quick and simple to install. The demand for such products is further increased by the fact that these cutting-edge flooring options frequently need specialized floor adhesives made specifically for their peculiar installation needs. The increase in construction and infrastructure activities is expected to drive the growth of the North America floor adhesive market.
For instance,
- In December 2021, according to a news article in ASITE, a new $9.5 billion terminal would be built above Terminals 1, 2, and 3 on the south side of John F. Kennedy International Airport in Queens, New York. 23 international gates, inside green space, and more than 230,000 square feet of retail and recreational space will all be included in the new terminal once it is finished.
The population increase, urbanization, economic stability, government initiatives, refurbishment projects, green building practices, and technical breakthroughs, the construction and infrastructure development sector is experiencing tremendous growth in North America. As a result, there is a growing need for floor adhesives because they are essential for properly installing a variety of flooring materials. Floor adhesive demand is expected to steadily rise as the construction sector continues to prosper, creating a profitable market for North American adhesive suppliers and manufacturers.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020 - 2015)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, and Pricing in USD
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Segments Covered
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By Resin Type (Polyurethane Adhesive, Acrylic Adhesive, Vinyl Adhesive, Epoxy, and Others), Technology (Water-Based Adhesive, Solvent-Based Adhesive, and Hot-Melt Adhesive), Application (Resilient, Laminate, Tile and Stone, Carpet, Wood, and Others), End User (Residential Floor Adhesive, Commercial Floor Adhesive, and Industrial Floor Adhesive)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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HENRY (U.S.), DOW (U.S.), Arkema (France), H.B. Fuller Company (U.S.), 3M (U.S.), Wacker Chemie AG (Germany), Forbo Group (Switzerland), LATICRETE International, INC (U.S.), Q.E.P. Co., Inc. (U.S.), Mapei Corporation (U.S.), Sika AG (Switzerland), Henkel AG & Co. KGaA (Germany), and BASF SE (Germany) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The North America floor adhesive market is segmented into four notable segments based on resin type, technology, application, and end user.
- On the basis of resin type, the market is segmented into polyurethane adhesive, acrylic adhesive, vinyl adhesive, epoxy, and others.
In 2023, the epoxy segment is expected to dominate the North America floor adhesive market
In 2023, the epoxy segment is expected to dominate the market due to high resistance to chemicals, temperature, and abrasion. It is expected to dominate the market with a market share of 36.15%.
- On the basis of technology, the market is segmented into water-based adhesive, solvent-based adhesive, and hot-melt adhesive
In 2023, the hot-melt adhesive segment is expected to dominate the North America floor adhesive market
In 2023, the hot-melt adhesive segment is expected to dominate the market due to its resistance to moisture and high temperature. It is expected to dominate the market with a market share of 39.66%.
- On the basis of application, the market is segmented into resilient, laminate, tile and stone, carpet, wood, and others. In 2023, the resilient segment is expected to dominate the market with a market share of 37.45%.
- On the basis of end user, the market is segmented into residential floor adhesive, commercial floor adhesive, and industrial floor adhesive. In 2023, the residential floor adhesive segment is expected to dominate the market with a market share of 44.31%.
Major Players
Data Bridge Market Research recognizes the following companies as the major players operating in the North America floor adhesive market HENRY (U.S.), DOW (U.S.), Arkema (France), H.B. Fuller Company (U.S.), 3M (U.S.), Wacker Chemie AG (Germany), Forbo Group (Switzerland), LATICRETE International, INC (U.S.), Q.E.P. Co., Inc. (U.S.), Mapei Corporation (U.S.), Sika AG (Switzerland), Henkel AG & Co. KGaA (Germany), and BASF SE (Germany) among others.
Market Developments
- In March 2022, BASF SE collaborated with Brenntag Specialties in the U.S. and Canada. This collaboration provided the customers the convenience of developing raw materials from one easy-to-work-with distribution leader and expanding their business.
- In February 2022, MAPEI Corporation announced a long-term sponsorship commitment to the Kelowna Rockets of the Western Hockey League (WHL). This sponsorship helped in enhancing brand awareness.
- In April 2021, Forbo Group partnered with Material Bank, a designing professional for the floor. This acquisition helped their products combine design, function, and durability, making it easy to choose the perfect flooring solution for end-user helping attract large consumers.
- In March 2021, MAPEI Corporation announced the launch of a heavy-duty, pressure-sensitive, multi-flooring product named Ultrabond ECO 399 adhesive. This launch helped in the expansion of the company portfolio targeting a large number of end-users.
- In February 2021, Laticrete International, Inc. announced the launch of Glass Tile Adhesive Lite, a premium adhesive mortar for glass tile and mosaic tile including submerged applications. This launch helped in the expansion of their product portfolio and revenue growth.
Regional Analysis
Geographically, the countries covered in the North America floor adhesive market are U.S., Mexico, and Canada.
As per Data Bridge Market Research analysis:
U.S. is the dominant country in North America floor adhesive market during the forecast period 2023 - 2030.
In 2023, the U.S. is expected to dominate the market due to the rising population along with the growth of advanced infrastructure and rapid urbanization in this country.
Canada is the fastest growing country in North America floor adhesive market during the forecast period 2023 - 2030.
In 2023, Canada is fastest growing country in North America floor adhesive market, growing with the highest CAGR of 5.3%.
For more detailed information about the North America floor adhesive market report, click here – https://www.databridgemarketresearch.com/reports/north-america-floor-adhesive-market
