Industry Outlook and Trend Analysis
The Tile Adhesives Market was worth USD 2.14 billion in 2014 and is expected to reach approximately USD 4.81 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.42% during the forecast period. Tile adhesives are used for the procedure of installing tiles in commercial and residential structures on walls or on floors. Relying upon the regional requirements and building traditions, local construction technology, the choice of crude material, significant execution criteria and in addition standards and regulations for testing cements can vary from nation to nation. Test measures and in addition high quality additives significantly contribute to long term execution expanding the sturdiness of the entire development – a critical angle with respect to the supportability of buildings and also to their maintenance costs.
Drivers and Restraints
The major factor driving the tiles adhesives market is the numerous advantages offered by the product in several applications. Tile adhesives are cost effective and durable choice in any type of setting or structure. Tile adhesives are convenient to install and bind together the surface of the tile to ground or the wall. The tile adhesive is anticipated to create significant CAGR due to rising demand for pleasant and durable flooring among the home makers. Tile adhesive is convenient to apply in comparison to bricks and are more attractive. Ceramic tile adhesive is useful for various purposes and conditions such as binder, cement extender and protective colloid, coating polymer, shape retention enhancer, lubricity and workability enhancer and suspension & stabilization agent. Chemicals that are used for tile adhesives offer various degrees of water retention at various temperatures, enhanced adhesion and cohesion, flexibility and workability. Rising demand of ceramic tile adhesive has led manufacturers to come up with innovative creation in the market.
The Tile Adhesives Market is segmented on the basis of product type and application. On the basis of product type the market is segmented into Latex mortar, acrylic-mixed mortar, Epoxy mortar. On the basis of application the market is segmented into residential and non-residential out of which the residential segment dominated the market with the highest share. Increasing demand from developed as well as developing countries for top notch highlights in their houses as well as offices are foreseen to further augment the demand.
Regional Outlook and Trend Analysis
Geographically, Asia-Pacific is foreseen to be the market pioneer trailed by Europe and North America. APAC is known as the fastest developing region where the market would be having plenty opportunities owing to existing emerging economies and huge number of on-going construction projects in China, India, Japan and Indonesia.
The leading players in the market are Saint Gobain Weber, Mapei, Laticrete International Inc, HBFuller, Sika AG, Fosroc, Pidilite Industries, Terraco India Pvt Ltd, Ardex GmbH and Bostik. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Tile Adhesives Market is segmented as follows-
By Product Type:
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?