Floor Adhesive Market Overview:

The demand of floor adhesives is a growing sector, mainly due to the rapid industrialization and the dependence of several segments of floor adhesives. The global market is expected to reach a total of 11.6 billion by the end of 2023, with a growth rate of 5.26%.

Floor Adhesive Market Drivers and Restraints:

The increase in industrialization in the major regions of the world, such as the Asia-Pacific region, and the potential for infrastructure development in developing countries is driving the growth of the global flooring adhesives market. Floor adhesives, such as epoxy and urethane, are widely used in the food, health, and automotive industries. The growing demand from the health, food and automotive sectors is continually driving the market for floor adhesives.

While the market enjoys decent growth, certain factors, such as the volatility of commodity prices, are a severe obstacle to market growth. The centralization of the global market in Asia-Pacific, due to the availability of raw materials and labor, makes the market highly dependent on the geographical conditions of the region, which prevents the market from expanding further.

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Floor Adhesive Market Geographical segmentation:

By geography, the global market of floor adhesives is segmented in Latin America, Europe, Asia-Pacific, the Middle East, and Africa and North America.

The Asia-Pacific region had the largest share in the global market in 2018 and is expected to be the fastest growing market during the forecast period due to its high annual compound growth rate, increasing demand from increasing industries and the scope of future opportunities, mainly in developing countries such as Japan. , India and China.

The market values of Europe and North America are almost equal. The regional advantages offered by the Asia-Pacific region, such as cheap labor, easy availability of resources, make the market focus on this region, which makes North America and Europe slow growth

The regions of the Middle East and Africa and Latin America, located in low-growth developing countries due to the contribution of countries with low GDP, are less likely to develop the industry. As a result, the market for floor adhesives in these regions is growing slowly.

Floor Adhesive Market Players:

By the end of 2018, Henkel AG (Germany), Sika AG (Switzerland), Bostik SA (France), Wacker Chemie AG (Germany), Mapei SpA (Italy), Pidilite Industries Ltd (India), HB Fuller (United States)) , Dow Chemicals (United States), Franklin International (United States), Forbo Holdings AG (Switzerland) and LATICRETE International (United States) are the principal shareholders in the global floor adhesives market. These companies are currently focusing on expansion strategies to improve their value and position in the market.

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The Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with huge growth potential identified and debated.

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