Tile Adhesives help to bond or attach tiles onto a surface to ensure long-lasting installation. Tile adhesives can withstand and adapt to thermal and substrate deformation and endure minor structural movements. They also help prevent tiles from cracking other than helping achieve a professional finish. The Global Tile Adhesive Market is anticipated to reach USD 3.3 Bn by the end of the forecast period of 2017-2023, asserts Market Research Future (MRFR) in an extensive study. Rise in constructional activities in residential as well as commercial sector is the prime drive behind the growth of the Global Tile Adhesive Market. Rise in disposable income on a global scale, especially in the emerging economies has resulted in rapid constructional activities. Furthermore, renovation of old properties and growing consumer inclination towards sophisticated decor has induced high demand for tiles, which in turn, has boosted the market for tile adhesives. R&D efforts by major manufacturers have led to the development of advanced, eco-friendly, and high performance Tile Adhesives which is likely to augur the growth of the market over the forecast period. Additionally, higher focus on environmental consciousness has motivated manufacturers to invest in the development of tile adhesives with low VOC emissions which further raises the adoption of tile adhesives among consumers. Quality standards pertaining to various performance criteria and technical requirements in construction has led to the adoption of various Tile Adhesives to meet regulatory norms which adds fuel to the growth of the Global Tile Adhesives Market. On the downside, the growth of the market might be hindered by lack of awareness regarding Tile Adhesives and high costs associated with tile adhesives which might restrain the growth of the market over the forecast period.
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Competitive Landscape:
The notable players operating in the Global Tile Adhesive Market include H.B. Fuller, Mapei SpA, Fosroc International, Saint Gobain Weber, Wacker Chemie AG, Sika AG, 3M, BASF SE, Bostik, Henkel AG & Co KgaA, and DowDuPont, Inc.
Industry Updates:
In September 2018, Saint Gobain Weber, a leading supplier and manufacturer of tile and stone fixing solutions, added a new premium tile is fixing grout to its comprehensive range of professional tile applicators. The new addition to the range has features such as high-quality finish, long-lasting performance, scratch resistance along with the extra advantage of Weber’s new PURE CLEAN anti-stain technology.
Segmentation:
The Global Tile Adhesive Market has been segmented based on Type, Polymer Chemistry, Application and End Use.
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By Type, the Global Tile Adhesive Market has been segmented into cementitious, dispersion, and reactive tile adhesive. The cementitious segment accounted for almost 70.2% share of the global market in 2017 which can be attributed to its relatively low price.
By Polymer Chemistry, the Global Tile Adhesive Market has been segmented into epoxy, styrene butadiene, acrylic, vinyl acetate ethylene, have-veova, polyurethane, and others. The acrylic segment is the largest segment and was valued at USD 596.1 Mn in 2017. The segment is expected to register a CAGR of 9.31% over the forecast period. Chemical and corrosion resistant properties make acrylic tile adhesive popular among consumers.
By Application, the Global Tile Adhesive Market has been segmented into ceramic tile, vitrified tiles, natural stone, mosaic, and glass. The ceramic tile segment is the largest segment and held almost 55% share of the global market in 2017.
By End-Use, the Global Tile Adhesive Market has been segmented into residential, commercial, and institutional. The residential segment dominated the global market in 2017 and is anticipated to capture a CAGR of 9.47% over the forecast period.
Regional Analysis:
By Region, the Global Tile Adhesive Market has been segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
With more than 45% share, APAC dominated the Global Tile Adhesive Market in 2017. The rise in constructional activities in the region can be credited for the increase in demand for Tile Adhesives. China is the key contributor to the APAC market. Increasing industrialization and infrastructural activities in the region provide lucrative growth opportunities to the market. The APAC Tile Adhesive Market is expected to capture a CAGR of 9.68% over the forecast period. North America and Europe follow APC closely and are expected to showcase substantial growth over the forecast period.
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