MRFR Press Release/- Market Research Future Published a Cooked Research Report on “Global Tile Adhesive Market Research Report – Forecast to 2022”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Ardex Group, Bostik, Terraco, Sika AG, H.B. Fuller, Pidilite Industries, Mapei S.P.A, Laticrete International, Saint-Gobain Weber, Fosroc and among others are some of the prominent players at the forefront of competition in the Global Tile Adhesive Market and are profiled in MRFR Analysis.
Tile Adhesive Market – Overview
The Global Tile Adhesive Market is expected grow substantially and register a healthy CAGR during the anticipated period (2017 – 2022). Some of the protuberant drivers supporting the growth of global tile adhesive market are identified as, boom in residential construction activity as well as the growing demand of Ceramic Tile in building & construction activity. As homeowners seek to replace old and worn floors with modern, aesthetically pleasing tile styles, the Tile Adhesive Market experiences a continuous surge in the world. Additionally, increasing demand of decorative tiles in non-residential construction activities such as malls, airports, office buildings, retail outlets, and other municipal and commercial buildings is another factor that drives the Global Tile Adhesive Market. Moreover, recent trends favouring the use of adhesives with rapid hardening property for floor and wall coverings by means of tile is expected to drive the global tile adhesive market.
However, lower profit margins due to the usage of low-cost chemicals and lack of awareness of tile adhesives among consumer in developing countries may restrain the market in future. To inhibit the impact of lack of awareness of among consumer as a restraining factor on tile adhesive market, experience centres need to open in developing countries especially in Asia Pacific region. At the centres, consumers will be made aware of the advantages tile adhesives over more traditional methods of tile fixing through a variety of displays and demonstrations.
Industry/ Innovation/ Related News:
April 2016 – Bostik expanded its cementitious powder production capacities in Philippines, based on its world-class Polymer Modified Binder (PMB) technology. With this expansion, Bostik will be able to serve tile adhesive to construction customers. The expansion would help Bostik to increase its market share and give strong competition to Custom Building Products, one of the giant in tile adhesive in U.S.
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April 2016 – Parex Group acquired Quartzobra, Brazilian tile setting material producer which has been generating yearly revenue of USD 7.15 million. The acquisition has been made by eyeing strong country based operations in Brazil for tile ashesives. The acquisition strategy would help Parex Group to increase its market share in Latin America region.
October 2016 – Sika AG acquired a Hong Kong based leading manufacturer of tile adhesive and repair mortars. The acquisition has been done in order to expand the tile adhesive operation in Hong Kong in order to address the forthcoming demand.
January 2017 – ADREX has expanded its manufacturing operations in Thailand earlier this year. The production capacity of newly started factory is 15,000 tons, wherein the primary focus will be the manufacturing of high-quality ARDEX Flooring and Tiling products. The expansion has been done in order to address the demand of tile adhesive in Asia Pacific region.
February 2017 – BASF launched MasterTile® tile adhesives production in Russia. The range of MasterTile® products includes five adhesives: MasterTile 404, MasterTile 414, MasterTile 415, MasterTile FLX 23, MasterTile FLX 24. The adhesives’ formulations have been developed in line with GOST R 56387-2015 Russian national standard, and EN 12004 European regulations, which regulate the adhesion strength. The new product launch strategy would help BASF to dominate in Europe tile adhesive market.
March 2017 – Saint-Gobain, through the mortars activity (Saint-Gobain Weber), acquired 100% of Buildezee Adhesives Botswana (PTY) Ltd, a leading manufacturer of tile adhesives and grouts in Botswana. The acquisition has been done in order to expand the tile adhesive operation in the region in order to address the forthcoming demand.
April-2016 – EVO-STIK has launched a new, white floor and wall tile adhesive, ideal for use with ceramic, stone and porcelain tiles with no risk of show through. Setting in as little as two hours, the cement-based adhesive can be used to fix tiles to a range of materials including wood, concrete and plaster. The innovative solution in tile adhesive market by EVO-STIK would help it to attract the consumers in the market.
April-2016 – Consumer products giant Henkel has acquired tile adhesives business and associated brands of Columbian wall and floor coverings manufacturer Alfagres for $19 million. The acquisition includes Alfagres’s key brands Alfalisto and Pegalisto. With this acquisition, Henkel expects to expand its portfolio in emerging markets and strengthen its adhesive technologies business in Colombia.
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Tile Adhesive Market – Regional Analysis
Geographically, Asia Pacific region accounted largest market share in the Global Tile Adhesive Market and expected to dominate during the forecast period due to growing economies in the region, boom in building and construction industry in the region and high penetration of manufacturers in the region. China being largest consumer and manufacturer of tile adhesives. Growing demand in residential, non-residential and institutional activities have boosted the tile adhesive market in China. In addition to this, North America & Europe have witnessed healthy growth owing to heavy nonresidential new construction and renovation activities in the region.
In competitive landscape, the MRFR studies the key developments adopted by the companies between 2011 and 2016. Players in this market adopted various strategies to expand their footprint and augment their market share. The key strategies followed by most companies in the Global Tile Adhesive Market were agreements and collaborations, mergers and acquisitions, joint ventures and expansion. Due to growing demand of tile adhesive in Asia Pacific region, the manufacturers in European region are using acquisition strategy in the Asia Pacific and global market.
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