Floor Adhesives Market to Reach $6.95 Billion in 2023
Based on the material type, acrylic adhesive segment currently dominates the global floor adhesives market.
The global floor adhesives market is projected to grow at a healthy growth over the next five years to reach $6.94 billion in 2023, according to a new research report from Stratview Research. A growing global construction industry, increasing consumption of adhesives globally, increasing use of water-based adhesives over solvent-based adhesives to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are reportedly some of the key factors burgeoning the demand for floor adhesives in the construction industry. Another factor that attracts adhesives usage is ease of installation of polymer-based adhesives compared to traditional mechanical fastening system or cementitious powders, according to the report.
Based on the material type, acrylic adhesive segment currently dominates the global floor adhesives market, driven by increasing usage of carpet and resilient flooring applications. Polyurethane adhesive is mainly preferred in wood flooring applications.