Yahoo Finance Tile Adhesives & Stone Adhesives Market worth $7.0 billion by 2027 – Exclusive Report by MarketsandMarkets™
Chicago, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Tile Adhesives & 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%, according to a new report by MarketsandMarkets™. Market growth is attributed to the rising demand for tile & stone adhesives in the growing construction industry in residential, commercial, and institutional end uses across the world. The growth of the market is also triggered by the rising demand for ceramic tiles for decorative applications, the thin tile concept innovation, and advancements in technology related to low VOC emitting products.
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The cementitious segment is expected to register highest CAGR, by chemistry, during the forecast period.
The cementitious chemistry segment is expected to register the fastest growth during the forecast period. The demand for cementitious adhesives is fueled by modifications that require blending high-quality polymers, which enable them to bond huge ceramic tiles on walls. The advantages of using cementitious adhesives are their low cost, excellent adhesion properties, polymer-modified mix, slip resistance, self-curing properties, and the ability to mix large quantities of material in a single batch. Owing to the reduction in thickness of ceramic tiles over time, along with an increase in their size and improved construction techniques, which require continuous surfaces with extremely high architectural value, the demand for these adhesives is expected to remain significant.
The repairs & renovation segment is expected to grow at the same growth rate of new construction in the tile & stone adhesives market during the forecast period.
Although currently a smaller market compared to new construction, repairs and renovation is expected to grow at the same rate during the forecast period. Big economies such as Germany, the US, Italy, and France have started to recover from the economic slowdown in recent years and have shifted their focus to upgrading their infrastructure related to housing, airports, and metros, among other projects. Also, premium hotels, which regularly upgrade their flooring once in five-eight years, are emerging end users of tile & stone adhesives. Owing to an increase in the demand for granite and exotic stones for renovations in high-end residential applications, the tile & stone adhesives market is expected to witness significant growth during the forecast period. European and North American countries, where carpets and rugs are used the most in flooring, have started preferring tiles instead of traditional flooring methods, which will boost the repairs and renovation segment, thereby creating demand for tile & stone adhesives gradually.
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The tile & stone adhesives market in Asia Pacific is expected to register the highest CAGR during the forecast period.
Asia Pacific is the largest consumer of tile & stone adhesives, as almost 60-70% of the total Asia Pacific flooring market is dominated by ceramic tiles and natural stones such as marble and granite. 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.
Major players operating in the Tile & Stones Adhesives include:
ARDEX Group (Germany),
Terraco Group (UAE),
Sika AG (Switzerland),
Saint-Gobain Weber (France),
H.B. Fuller (US),
Mapei S.p.A (Italy),
Fosroc International Limited (UK),
Pidilite Industries Limited (India),
Laticrete International, Inc. (US), and
Arkema (Bostik) (France).
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