Global Tile Adhesive Market – Overview
Tile Adhesive, sometimes also referred as glue mud or Ceramic tile adhesive, is a uniquely innovated, inorganic hybrid material, having a greater bonding capacity, as compared to the mixture of cement and sand. These adhesives, with their high bond strength and ultimate flexibility, demonstrate excellent resistance to chemical, shock & impact. Hence, Tile adhesives have completely replaced the conventional tile adhesive material. With its unique features, these adhesives have been easing the whole tiling gamut, eliminating the risk of falling the Tile off from its position.
These Adhesives, also aid in modern decoration, enhancing the whole process of decoration, aesthetically and effectively. Tile Adhesives are widely utilized for modern embellishments and are extensively used in various applications, during flooring and coating including residential, commercial, and industrial construction. Whether it’s merely about paving the terrace or waterproofing of wall/ roof or wall skirting or even a high profiled job like building airports and swimming pools, Tile Adhesive is an integral part of all. Resultantly, the Tile Adhesive market is ever increasing.
Acknowledging the spurting growth the market is perceiving currently & the potential the market holds to grow globally, the leading research firm ‘Market Research Future’ (MRFR) has recently published a study report mapping companies active in the industry. In its market analysis, MRFR asserts that the Global Tile Adhesive Market will garner USD 3.3 Billion by 202, growing at 9.29% CAGR during 2017 to 2023.
Increased construction activities for residential and non-residential properties coupled with infrastructural development initiatives, undertaken by the government bodies worldwide, have fostered the market growth of Tile Adhesives to an extent. The technological advancement and advent techniques transpired into the making of Tile Adhesive have brought about the innovative products, easily accessible. Around the world, those new technologies are utilized to give the surfaces a high architectural value. Over the past few years, the demand for enhanced soundproofing and thermal insulation has increased dramatically, fueling the overall demand for the Tile Adhesives.
Growing population coupled with the increasing urbanization worldwide is presaging the growing demand for construction and infrastructure development activities. The improving economy is increasing consumer’s purchasing power, fosters the luxury furnishing across the globe. Increasing popularity of decorative and aesthetically pleasing tiles in the commercial as well residential sectors will drive the growth of the Global Tile Adhesive Market in the years to come.
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Global Tile Adhesive Market – Competitive Analysis
With the presence of numerous matured & small key players accounting for a substantial market share, this market appears to be fiercely competitive & fragmented. The market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch.
The competitive landscape of the Global Tile Adhesive Market is determined by evaluating various market participants along with their production capacity, production chain, and the revenue generated by each manufacturer.
Developing tailor-made adhesives is the latest trend observed in the market during the analysis. Resultantly, this trend is expected to drive the market competition intensely. Manufacturers having the ability to manufacture exclusive adhesive based on the consumers’ requirement are expected to gain a competitive edge over their rivals.
May 01, 2018 – Splash Paints and Plastics (Zimbabwe), a notable player in the in the paint, plastic and adhesive manufacturing, announced the successful completion & commission of the first phase of its new plant, opened in Harare.
Global Tile Adhesive Market – Segments
MRFR has segmented the report into 5 key dynamics;
By Types: Comprises Cementitious, Reactive Tile Adhesive, and Dispersion, among others
By Polymer Chemistry: Acrylic, Vinyl Acetate-Ethylene, Have-Veova, Epoxy, Styrene Butadiene, and Polyurethane among others.
By Applications: Ceramic Tile, Vitrified Tiles, Natural Stone, Mosaic, and Glass, among others.
By End-Users: Residential, Industrial, Commercial, and Laboratory/Institutional Segments among others.
By Regions: North America, Europe, APAC and Rest of the World.
Segment Cementitious Tile Adhesive by type accounts for the dominating segment in the Global Tile Adhesive Market owing to its polymer modified and water-resistant properties, suitable for both internal and external uses. Attributing to its low cost the segment is likely to retain its dominance growing at a CAGR of 9.54% during the forecast period.
Whereas the segment Dispersion Tile Adhesive accounted for 19.89% market share of in 2017.
Segment Residential by End-users accounted for 64.5% of market share in 2017.
Tile Adhesive Market – Regional Analysis
Globally, Asia Pacific region accounts for the largest market for Tile Adhesives followed by North America and Europe respectively. Augmented demand from the burgeoning construction industry is driving the market growth in the region. Other factors that drive the market growth include growing population, increased disposable income of consumers along with the increasing government initiatives for infrastructure development and collaboration with foreign investors. Continuing with the same trends the APAC market is expected to retain its dominance during the review period, registering a CAGR of 9.68% during the forecast period – 2017 – 2023. Owing to the growing construction activities, China among the other APAC countries accounts for the largest contributor to the regional market growth.
North America region stands the second largest market for Tile Adhesive owing to the enormous contribution from the US market, fueled by the augmenting demand from the growing construction activities in the country. Many foreign manufacturing companies have expanded their manufacturing capacity in the country which in turn, is bringing down the import rate sufficing domestic orders more quickly while manufacturing tailored products suiting the needs of the US consumers.
In Latin America, the market is estimated to witness a remarkable growth owing to the increasing industrial activities primarily, impacting the regional market growth.
The Europe Tile Adhesive Market accounts for the third largest market globally. The resurging economy is fuelling the building & construction sector in the region. Conversely, the stringent environmental regulations imposed on the uses of products emitting VOC (volatile organic compounds) are hampering the market growth on a large scale. Nevertheless, augmenting demand for the product in the industrial, decorative, and others applications is expected to drive the regional market growth up to some extent.
The MEA (the Middle East & Africa) market is anticipated to perceive a considerable market growth during the assessment period, owing to the increasing infrastructure development projects in the region.
There has been strong growth in the construction sector globally, especially in countries such as China, India, the US, and Brazil among others.
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