Acrylic Adhesives to Lead North American Floor Adhesives Market Growth
In terms of technology type, water-based technology currently dominates the North American floor adhesives market.
The North American floor adhesives market is likely to reach an estimated value of $1.097.9 billion in 2023, according to a recent report from Stratview Research. The upward trajectory of the floor adhesives market in the region is reportedly likely to continue with attractive growth opportunities in the entire ecosystem of the market in the coming years. The 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, according to the report.
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. However, the 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 U.S. 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.
For more information, visit http://stratviewresearch.com.