Pune, india, Aug. 22, 2018 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) has divulged various key figures in its latest report on the Global Tile Adhesive Market which include a highly promising CAGR of 9.29% and the markets ascension to an estimated USD 3.3 Bn by the end of the forecast period of 2017 to 2023. Tile adhesives have extensive use in the construction industry and are ancillary to the tile industry. Tile adhesives which are often used in construction activities offer superb chemical resistance, high bond strength, flexibility and high shock & impact resistance which make the product highly desirable and play a deciding role in its growing demand.
Increasing construction activities, particularly in rapidly emerging markets, are anticipated to be a significant market growth factor. The boom in residential construction combined with growing infrastructural development activities is expected to boost the tile market which will directly affect the Tile Adhesive Market . Globally, urbanization has had a considerable impact on increasing construction activities, and rising disposable incomes have led to higher spending. Consumers are showing great interest in decorative tiles and renovations of existing housing. The growing demand for these aesthetically pleasing tiles and home renovations to accommodate the same are expected to bolster the global tile adhesive market.
Tile adhesives have a low-profit-margin which can be somewhat discouraging to the entry of new market players, particularly manufacturers. Moreover, there is a lack of consumer awareness regarding the various types of adhesives and products available in the market, and this results in contractors using cheaper tile adhesives that may not be according to consumer preference, thus representing a challenge to the growth of the global tile adhesive market. However, market players are varying their product offerings to meet changing demands. With a higher focus on environmental consciousness than ever before, market players are investing in the development of innovative tile adhesives with low VOC emissions, thereby creating market expansion opportunities which are likely to facilitate further growth in the foreseeable future.
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Key Players
MRFR's competitive analysis is extensive and covers various leading market players and the market strategies they use to secure their positions in the global tile adhesive market. Prominent players included in the report are Fosroc International, Mapai SpA, Saint Gobain Weber, Bostik, Wacker Chemie, Henkel AG & Co KgaA, DowDuPont Inc., BASF SE, H.B Fuller, 3M, and Sika AG. These players use market strategies such as mergers & acquisitions and new product launches to strengthen their market position.
Latest Industry News
- Henkel has officially signed an agreement to acquire major Chilean tile adhesive manufacturer Aislantes Nacionales S.A. This move is expected to strengthen Henkel's extensive portfolio and help Henkel to corner the Chile market in Latin America.
- a.b.e Construction Chemicals has launched a new highly economical white cement for construction and retail markets as a tile adhesive which offers added aesthetic opportunities due to its color tone. CEM-blanc is also highly durable and versatile.
Growing Construction Actitives Make China a Lucrative Market
The Asia-Pacific (APAC) leads the market with the most significant market share and is followed by North America and Europe, both of which are relatively mature markets for the tile adhesive industry. The APAC market offers massive potential for market growth due to the rapid development occurring in the region. The presence of emerging markets such as India, and China where there is a significant boost in construction activities, growing urbanization, and increasing disposable incomes. Renovations, the building of new houses and housing complexes is expected to facilitate considerable demand for tile adhesives during the assessment period. China accounts for the most significant market share and is expected to maintain its position over the review period due to the increasing construction activities that are ongoing in the region.
Browse the market data and information spread across 138 pages with 319 data tables and 24 figures of the report “ Tile Adhesive Market Report - Forecast 2017-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/...arket-1731
Market Segmentation
MRFR has divided the market to allow a deeper understanding of every relevant factor which affects the market. Segmentation analysis in MRFR's report has been performed on the basis of type, polymer chemistry, application, end-user, and regions. By type, the market has been segmented into dispersion, reactive tile adhesive, and cementitious. Cementitious tile adhesives are the most popular type and are extensively used due to its polymer modified and water resistant properties which make it ideal for use in internal and external construction applications. The cementitious segment is due to grow at the highest CAGR of 9.54% during the assessment period. The segments domination in addition to the factors mentioned above is positively affected by its comparatively low price. Meanwhile, the dispersion tile adhesive type segment accounts for the second largest share of 19.89%.
On the basis of polymer chemistry, the market is segmented to represent acrylic, VAE-veoVa, epoxy, styrene butadiene, vinyl acetate ethylene, polyurethane, and others.
Based on application, the market is categorized by natural stone, mosaic & glass, ceramic tile, vitrified tiles, and others.
By end-users, the market is segmented into commercial, institutional, and residential. The residential segment accounts for an estimated 64.5% share of the total market due to the boom in the residential housing sector. Growing demand for decorative tile is expected to encourage the segment over the forecast period.
The global division of the market for regional analysis segments the market into Latin America, North America, Europe, Asia Pacific (APAC), and the Middle East and Africa.
Browse Related Reports:
U.S. Tile Adhesive Market Information by Type (Cementitious Adhesive, Dispersion Adhesive and Reactive Resin Adhesive), by End User (Residential and Non-Residential) - Forecast till 2023 https://www.marketresearchfuture.com/reports/...arket-4275
India Tile Adhesive Market Information by Type (Cementitious Tile Adhesive, Epoxy Tile Adhesive, and Dispersion Tile Adhesive), by Construction Activity (New Construction and Repair & Renovation), Application (Residential, Commercial, and Institutional) - Forecast till 2023 https://www.marketresearchfuture.com/reports/...arket-4655
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