September 07, 2022 05:29 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The global tile and marble adhesives market size was USD 3.95 billion in 2020. The market is projected to grow from USD 4.34 billion in 2021 to USD 8.0 billion in 2028 at a CAGR of 9.1% during the 2021-2028 period.
This information is presented by Fortune Business Insights™, in its report, titled, “Tile and Marble Adhesives Market, 2021-2028.”
According to our researchers, the market is anticipated to observe widespread growth owing to the surging demand from residential segment. Additionally, tile and marble adhesives are cement-based or polymer-based adhesives applied in the fixation of tiles and marbles for several flooring uses in bathroom, residential areas, kitchen, and commercial spaces among others.
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List of Key Players Covered in the Tiles and Marble Adhesive Market Report
Chief Companies to Embrace Tactics and Widen their Market Existence
Owing to a huge amount of international players, the tile and marble adhesives sector is scattered in nature. Few of the major functioning players in the market are H.B Fuller Company, Sika AG, BASF, Fosroc, Arkema, Pidilite, Akemi, and others.
Industrial companies function primarily grounded on the cost of the product and its application features. Moreover, in order to uplift their market size & share, and to attain a competitive benefit, numerous leading players are involved in various tactical agreements to endorse brand and sales.
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We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further assists us to offer trustworthy estimations and test the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
By type, the market is divided into cementitious & epoxy/polymeric.
By application, the market is branched into residential & non-residential.
By region, the market is segregated into North America, Europe, Asia Pacific, Latin America, & Middle East & Africa.
Bulging Renovation and Overhaul Activities to Boost Market Growth
Tile and marble adhesives market is anticipated to display substantial growth by the end of mentioned period. Tile and marble adhesives are usually deployed in flooring application.
Rising commercial and residential building and renovation happenings across the world is probable to fuel the demand for flooring which consequently is projected to enhance the demand for tile and stone adhesives. Numerous initiatives inflicted by government in order to sustain industrial growth, travel & tourism, and overall development is likely to aid the market growth.
Asia Pacific to Dominate Market due to Increasing Residential And Commercial Construction Activities
Asia Pacific held maximum tile and marble adhesives market shares and was worth USD 1.94 billion in 2020. Rising residential and commercial construction ventures is anticipated to fuel the regional market.
Europe is estimated to display substantial growth owing to the abundant number of producers present in this region. Moreover, upsurge in reconstruction and renovation happenings of living spaces is expected to endorse growth.
North America is projected to demonstrate significant growth owing to the surging demand for tiles and marble flooring from commercial as well as corporate offices. Industrial extensions and setting up of corporate spaces in the U.S. is predicted to nurture market growth.
COVID-19 Pandemic: Dropping Revenue and Rising Difficulties to Obstruct Growth
The COVID-19 pandemic has hit the world severely, disturbing and majority sectors have faced difficulties in operations as several barriers are created. The pandemic has extremely impacted the global monetary condition and has largely formed commotion in the regular routine of people in numerous unforeseen ways.
Moreover, the improbability of cash movement owing to lockdown disheartened the probable buyers to apply for loans or pay extra EMI for novel residential as well as commercial projects. Furthermore, temporary shutting down of malls, work-spaces, occupations, fitness centers, gaming parks, as well as cinema theatres has led to a drop in the demand for commercial infra spaces.
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March 2021: Roff, which is a leading tile and stone adhesive solution brand presented by the house of Pidilite industries, initiated various initiatives in order to prolong its existence in Kerala, India.
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