Market Synopsis:
The Global Tile Adhesive Market is estimated to garner USD 3.3 billion during the forecast period (2017-2023).
The global market is presumed to demonstrate a healthy CAGR owing to the increasing residential construction activities, asserts Market Research Future (MRFR). Tile Adhesives are generally used to install tiles on the walls and floors in commercial, institutional, and residential buildings. Such construction adhesives show shock and impact resistance, excellent chemical resistance, ultimate flexibility, and high bond strength. They work on adhesion and cohesive mechanisms.
Industry Updates:
During the Philconstruct exhibition at SMX, Carlos Espinoza Jr., the national sales manager along with Luisa Lichauco, the marketing director of Allgemeine Bau-Chemie Philippines, one of the largest manufacturers of tile adhesive in Asia spoke to GineersNow TV about their latest adhesive technologies, construction industry expectations, and building material innovations.
Competitive Dashboard:
The prominent players operating the Global Tile Adhesive Market are Sika AG, Bostik, DowDuPont Inc, Fosroc International, Wacker Chemie AG, BASF SE, 3M, Henkel AG & Co KgaA, Mapei SpA, Saint Gobain Weber, and H.B. Fuller.
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Drivers and Constraints Impacting the Market
With the growth in the residential construction activities, increasing use of tile to cover wall and floor in building and construction, and augmenting infrastructural development activities, the global tile adhesive market is likely to flourish. The rising disposable income coupled with the growing interest of consumers associated with the use of aesthetically pleasing tiles in the residential and commercial sectors are influencing the Global Tile Adhesive Market during the assessment period. Moreover, innovation in the tile industry comprising porcelain tiles which are very thinly prepared and are used in kitchen and bathroom are presumed to drive the global market. Additionally, strict mandates for manufacturing process have further compelled the manufacturers to invest in the research and development activities of eco-friendly tiling solutions. This has contributed to the growth of the market across the globe.
On the flip side, the low-profit margins of the manufacturers and threat of substitution by polymer-based tile adhesive are some of the major concerns likely to retard the market growth in the coming years.
Global Tile Adhesive Market: Segmental Analysis
The Global Tile Adhesive Market has been segmented based on type, Application, Polymer Chemistry, End-Use and Region.
By mode of Type, the Global Tile Adhesive Market has been segmented into dispersion, cementitious, and reactive tile adhesive. Among these, the cementitious type accounts for the major market share with 70.2% in terms of value. The growth is attributed to its low cost as compared to other tiles.
By mode of Polymer Chemistry, the Global Tile Adhesive Market has been segmented into vinyl acetate ethylene, acrylic, epoxy, have-veova, polyurethane, styrene butadiene, and others. Among these, the acrylic is considered to lead the segment owing to its corrosion and chemical resistant properties.
By mode of Application, the Global Tile Adhesive Market has been segmented into vitrified tiles, ceramic tile, mosaic, natural stone, and glass. Among these, the ceramic tile is considered to dominate the global market with a share of 55%.
By mode of End-Use Industry, the Global Tile Adhesive Market has been segmented into commercial, residential, and institutional. Among these, the residential segment is likely to lead the global market due to rapid urbanization.
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Regional Insights:
Geographically, the Tile Adhesive Market span across regions namely, Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.
Among all the regions, Asia Pacific is presumed to dominate the Global Tile Adhesive Market. The growth is attributed to the increasing economic rate, growing demand for maintenance, infrastructure development, and renovation, and high demand for ceramic tiles in commercial as well as residential areas. The region is presumed to experience a huge growth potential and is expected to demonstrate 9.68% CAGR during the review period. China holds the largest share in this region and is likely to dominate the market owing to increasing construction activities.
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