North American Floor Adhesives Market to Reach $1.1 Bil. by 2023
Detroit, Mich. -- Stratview Research recently published a research report, “the North American Floor Adhesives Market Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.” The 150-page market report studies the North American floor adhesives market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
According to the report, the North American floor adhesives market is likely to reach an estimated value of $ 1,097.9 million in 2023, which offers an opportunity to the industry players to align themselves with the market growth. The upward trajectory of the floor adhesives market in the region is likely to continue with attractive growth opportunities in the entire ecosystem of the market in the coming years. Growing North American construction industry, an increasing consumption of adhesives in North America, increasing usage of water-based adhesives to reduce VOC-emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are the driving factors that are burgeoning the growth of floor adhesives in the North American market.
Based on the material type, polyurethane adhesives currently dominate the market, driven by its higher usage in wood flooring applications. Acrylic adhesives are likely to witness the highest growth during the forecast period, owing to their increased usage in LVT flooring and carpet applications.
Research findings suggest that there is an increasing usage of adhesives instead of mechanical fastening systems in the wood flooring application. Wood flooring requires more adhesive content per square feet, which further elevates the demand for adhesives in the segment. Vinyl flooring application is expected to witness the highest growth during the forecast period, driven by an increasing demand for luxury vinyl tiles (LVT) in North America.
In terms of technology type, water-based technology currently dominates the North American floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period, driven by stringent regulations regarding reducing VOC-emissions to create safer environment.
The USA is likely to maintain its leading position in the region during the forecast period, whereas Mexico is expected to witness the highest growth in the foreseeable future. Some of the major floor adhesive suppliers in North America include Arkema (including Bostik), Ardex GmbH, Bona AB, H.B. Fuller, MAPEI, Roberts Consolidated, W.F. Taylor, and Sika AG.
The report provides market intelligence in a comprehensive way, and the report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. This report studies the North American floor adhesives market and has five segments: market by material type (epoxy, acrylic, polyurethane, vinyl, other); application type (tile and stone, carpet, wood, laminate, vinyl, other); technology type (water-based, solvent-based, other); end-user type (residential, commercial, industrial); and country (U.S., Canada, Mexico).
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