North America Floor Adhesive Market, 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) - Industry Trends and Forecast to 2030.
North America Floor Adhesive Market Analysis and Size
The North America floor adhesive market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.8% in the forecast period of 2023 to 2030 and is expected to reach USD 1,823.74 million by 2030. The major factor driving the growth of the floor adhesive market is the rising popularity and growing awareness regarding the properties of floor adhesive products.
Any kind of powerful, long-lasting glue used to firmly attach flooring components to a subfloor or underlayment is referred to as flooring adhesive. While some multipurpose adhesives can be used successfully with a variety of materials, different adhesives are advised for various types of flooring.
The North America floor adhesive market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an analyst brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
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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, DOW, Arkema, H.B. Fuller Company, 3M, Wacker Chemie AG, LATICRETE INTERNATIONAL, INC, Q.E.P. Co., Inc., Mapei Corporation, Sika AG, HENKEL AG & CO. KGAA, and BASF SE among others
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Market Definition
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.
North America Floor Adhesive Market Dynamics
This section deals with the understanding of the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Increasing construction and infrastructure development
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. As a result, 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 expecting 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.
- Increasing advancements in flooring technologies
Flooring advancements have transformed the building and interior design sectors, providing innovative solutions that improve aesthetics, durability, installation efficiency, and sustainability. These innovations have had a considerable impact on the market for floor adhesives in North America. Modular flooring solutions have grown in popularity due to their adaptability, simplicity of installation, and design flexibility. Individual tiles or planks are interlocked or cemented together to form a coherent floor surface in these methods.
The growing popularity of modular flooring systems has increased the demand for specialized floor adhesives that provide strong adhesion and compatibility with various modular materials such as Luxury Vinyl Tiles (LVT), carpet tiles, and engineered wood planks. In addition, pre-finished hardwood, laminate, and engineered wood flooring have gained popularity due to their durability and ease of maintenance. The installation of pre-finished flooring often requires adhesives specifically designed for bonding the flooring materials to the subfloor, thereby driving the demand for floor adhesives.
Opportunities
- Shift towards eco-friendly and sustainable adhesives
Growing environmental concerns and the adoption of green building practices are driving a dramatic shift in the North America floor adhesive industry towards eco-friendly and sustainable materials. Traditional floor adhesives frequently include volatile organic compounds (VOCs) and other potentially hazardous substances that endanger human health and the environment.
Therefore, manufacturers and customers are increasingly seeking environmentally friendly options, increasing creative, sustainable floor adhesive solutions. As companies attempt to innovate and deliver ecologically responsible goods, this shift has offered enormous prospects in the North American floor adhesive market.
- Manufacturers launching new and innovative adhesive products
Manufacturers in North America floor adhesive market are constantly seeking to develop new and creative products to fulfill the increasing needs of customers and industry demands. The introduction of flooring adhesive solutions has not only created new opportunities for manufacturers but has also contributed to the market's overall growth and development. Rapid advances in adhesive technology have allowed producers to create products with improved performance features, such as increased bonding strength, faster cure periods, and more resistance to environmental variables.
Water-based adhesives are being developed by manufacturers as a greener alternative to solvent-based adhesives. These adhesives are becoming increasingly popular in the market because of their reduced VOC emissions, improved indoor air quality, and ease of cleanup. Furthermore, because of its ease of use, repositioning ability, and compatibility with various flooring materials, demand for Pressure-Sensitive Adhesives (PSAs) is increasing.
Restraints/Challenges
- Fluctuation in the prices of raw materials
The sudden fluctuation of prices in raw materials made manufacturing companies to plunge into a deep crisis, especially in the COVID-19 situation, recent economic crises, and recessions. Raw materials, such as polymers, resins, solvents, and additives, play a crucial role in the formulation of floor adhesives. Fluctuations in the prices of these raw materials can significantly impact the manufacturing costs and profitability of adhesive producers. With the volatile prices of raw materials, the production of adhesives also suffers. The fluctuation in prices of raw materials may result in an unsteady and restrained growth of the market.
- Availability of alternate flooring options
Traditional floor adhesives are facing competition from alternatives such as floating floors, interlocking tiles, and self-adhesive materials as consumers seek diversified, eco-friendly, and cost-effective flooring solutions. Floating flooring, such as laminate, vinyl plank, and engineered wood, has grown in recent years.
These flooring solutions allow for rapid and easy installation without the need for adhesives. Floating floor systems use interlocking mechanisms or adhesive tapes to eliminate the need for standard floor adhesives. The growing popularity of floating floors has reduced the need for adhesive-based flooring solutions.
- Intense competition due to the large number of market players
The North America floor adhesive market is highly competitive, primarily due to the presence of a large number of market players. This intense competition poses challenges for market growth as manufacturers strive to differentiate their products and expand their market share to meet the evolving demands of customers. The North America floor adhesive market is highly saturated, with numerous manufacturers offering a wide range of adhesive products.
Moreover, the technological advancements in adhesive formulations and manufacturing processes have lowered barriers to entry, allowing new players to enter the market. This has further increased competition as manufacturers innovate to stay ahead and maintain their competitive edge.
Recent Development
- In March 2023, DOW announced the launch of a new digital paint formulation platform. DOW Paint Vision provides data-driven capabilities to simplify formulation and accelerate innovation in the paints & coatings sector. The platform combines decades of research and development knowledge with thousands of data points collected from Dow labs, andthe most recent trends in sustainability and end-user needs. The launch will expand the research capabilities of the company ultimately generating higher revenues.
North America Floor Adhesive Market Scope
The North America floor adhesive market is segmented based on resin type, technology, application, and end user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Resin Type
- Polyurethane Adhesive
- Acrylic Adhesive
- Vinyl Adhesive
- Epoxy
- Others
On the basis of resin type, the market is segmented into polyurethane adhesive, acrylic adhesive, vinyl adhesive, epoxy, and others.
Technology
- Water-Based Adhesive
- Solvent-Based Adhesive
- Hot-Melt Adhesive
On the basis of technology, the market is segmented into water-based adhesive, solvent-based adhesive, and hot-melt adhesive.
Application
- Resilient
- Laminate
- Tile and stone
- Carpet
- Wood
- Others
On the basis of application, the market is segmented into resilient, laminate, tile and stone, carpet, wood, and others.
End User
- Residential Floor Adhesive
- Commercial Floor Adhesive
- Industrial Floor Adhesive
On the basis of end user, the market is segmented into residential floor adhesive, commercial floor adhesive, and industrial floor adhesive.
North America Floor Adhesive Market Analysis/Insights
The North America floor adhesive market is segmented based on resin type, technology, application, and end user.
The countries in the North America floor adhesive market are the U.S., Canada, and Mexico.
U.S. is expected to dominate the North America floor adhesive market due to the growing awareness regarding the properties of floor adhesive products in the country.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Floor Adhesive Market Share Analysis
The North America floor adhesive market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the market.
Some of the major market players operating in the North America floor adhesive market are HENRY, DOW, Arkema, H.B. Fuller Company, 3M, Wacker Chemie AG, Forbo, LATICRETE INTERNATIONAL, INC, Q.E.P. Co., Inc., Mapei Corporation, Sika AG, HENKEL AG & CO. KGAA, and BASF SE among others.
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