DUBLIN--(BUSINESS WIRE)--The "Tile Adhesives & Stone Adhesives Market by Chemistry (Cementitious and Epoxy), Construction Type (New Construction and Repairs & Renovation), End Use (Residential, Commercial, and Institutional) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global tile & stone adhesives market size is projected to grow from USD 4.7 billion in 2022 to USD 7.0 billion by 2027, at a CAGR of 8.0%, between 2022 and 2027.
Tile and stone adhesives are used to create a strong and durable bond between tile/stone and the tiling substrate. These adhesives are used to fix ceramic tiles, porcelain tiles, mosaics, marble, and granite to walls and floors in residential, commercial, and institutional applications.
The epoxy segment to lead the market during the forecast period.
Based on chemistry, epoxy is expected to lead the tile & stone adhesives market. Epoxy accounted for the largest share and is a major type of tile & stone adhesives. Epoxy adhesives are arguably among the most versatile resins used across industries. They exhibit superior tensile and shear strength, but poor peel strength unless modified with a more resilient polymer. They offer excellent resistance to oil, moisture, and a number of solvents. Low shrinkage on curing and high resistance to creep under prolonged stress are the major characteristics of several high-quality epoxy adhesives.
The new construction segment to lead the tile & stone adhesives market during the forecast period.
Based on construction type, the tile & stone adhesives market is segmented into new construction and repairs & renovation. The construction industry is growing at a faster rate as a result of increased spending in residential and institutional applications, for this purpose, globally. These adhesives have a huge market for tile-on-tile application in India, Singapore, and China. Also, the high spending planned by respective governments of developing economies such as Qatar, Oman, Vietnam, Poland, Ukraine, Argentina, and Brazil, is expected to drive the growth of tile adhesives in new construction applications.
The tile & stone adhesives market in the residential segment is expected to hold the largest share during the forecast period.
Based on end use, the tile & stone adhesives market is segmented into residential, commercial, and institutional. The institutional segment, which includes hotels, hospitals, schools, colleges, and universities, is projected to register the highest CAGR, in terms of value, during the forecast period. This growth is due to initiatives taken by government organizations to boost education, medical, and tourism activities globally. The leading countries in these segments include Sweden, Oman, Kuwait, India, Qatar, Thailand, and Malaysia.
Asia Pacific tile & stone adhesives market is estimated to register the highest CAGR during the forecast period.
Asia Pacific is the fastest-growing tile & stone adhesives market globally. The increasing awareness about the benefits of tile adhesives, improved tile strength & slip resistance, low VOC emitting products, and a large number of residential construction activities in Vietnam, Singapore, Malaysia, India, and China are fueling the growth of the tile & stone adhesives market. Asia Pacific is the more promising market and is expected to be the same during the forecast period.
Market Dynamics
Drivers
- Growth in Global Construction Industry
- Increased Demand from Residential Housing and Infrastructure
- Increase in Use of Decorative Ceramic and Thin Porcelain Tiles
- Significant Demand from Middle Eastern Countries
- Stimulus Packages by US Government to Recover from COVID-19
Restraints
- Low Awareness Regarding Tile & Stone Adhesives in Developing Economies
Opportunities
- Development of Different Innovative Substrates
- Innovative Low-Voc Adhesives
Challenges
- Established Infrastructure in Developed Countries
- Changing Regulations and Industry Standards
Companies Mentioned
- 3M Company
- Ardex Group
- Arkema (Bostik)
- BASF SE
- Construction Chemicals Pty
- Custom Building Products
- Flextile Ltd.
- Fosroc International Limited
- H.B. Fuller
- Henkel AG
- Laticrete International, Inc.
- Magicrete Building Solutions
- Mapei S.P.A.
- Norcros Adhesives
- Perma Construction Aids Private Limited
- Pidilite Industries Limited
- Saint-Gobain Weber
- Sika AG
- Terraco Group
- The Dow Chemical Company
For more information about this report visit https://www.researchandmarkets.com/r/qoxqzu
