"Innovative Market Solutions to Help Businesses Make Informed Decisions"
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 8.00 billion in 2028 at a CAGR of 9.1% during the 2021-2028 period. The global COVID-19 impact has been unprecedented and staggering, with product/service witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 0.76% in 2020. The sudden decline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Due to increased demand from the residential sector, the worldwide market is likely to rise significantly. Cement-based or polymer-based tile and marble adhesives are used to adhere tiles and marbles for a variety of flooring applications in bathrooms, kitchens, residential areas, commercial spaces, and other areas.
COVID-19 Pandemic: Falling Revenue and Increasing Challenges to Hinder Market Growth
The COVID-19 epidemic has been particularly hard-hitting, causing widespread disruption and posing numerous challenges. The epidemic had a significant impact on the worldwide economy and disturbed people's lives in unforeseen ways. Due to the rapid increase in infection cases, company operations, financial markets, supply chains, capital projects, and a variety of other business activities came to a standstill. Government-imposed guidelines and rules forced a halt to production and commercial operations. Various projects in the building industry have come to a halt, putting project owners in a precarious financial situation.
In addition, the tile and marble adhesives industry's supply chain as well as production activities were harmed by worker migration and informal sector workers. Because of the cash flow uncertainties caused by the lockdown, potential buyers were hesitant to take out loans or pay higher EMIs for new residential and commercial spaces. Malls, offices, businesses, gyms, gaming zones, and movie theatres have all closed, resulting in a drop in demand for commercial infra spaces. According to official data issued by the National Statistical Office (NSO), India's construction and finance sectors experienced a 14.5 percent fall in growth from April 2020 to March 2021.
The tile and marble adhesives sector is projected to be revived if the World Health Organization (WHO) and government rules for avoiding infection and other remedial actions are followed.
Increasing R&D for Bio-based Adhesives to Bolster Market Growth
Bio-based resources are gaining popularity in a variety of industries due to their low environmental impact and long-term viability. Renewable materials created from biopolymers derived from sustainable resources are being investigated extensively in the field of tile and marble adhesives. However, their long-term viability is rarely enough to justify the commercialization of such adhesives, especially if the new materials cannot be used as a drop-in replacement for existing technologies. The advantages of feedstock vegetable oils such as hydrophobicity, lower human and ecological toxicity, and the performance of bio-based adhesives compared to petroleum-based adhesives are areas of research that are projected to be an emerging trend.
Swelling Reconstruction and Renovation Activities to Propel Market Growth
By the conclusion of the projection period, the market is expected to have grown significantly. In most cases, tile and marble adhesives are used in the installation of flooring. Increasing commercial and residential development and renovation activities around the world are predicted to boost demand for flooring, which would in turn boost demand for tile and stone adhesives. Various government initiatives to boost industrial expansion, tourism, and development will help the rapid growth. For example, the Indian government has committed to investing USD 1.4 trillion in the National Infrastructure Pipeline (NIP) by 2030, with urban infrastructure accounting for 16% of the total.
In addition, the Las Vegas Convention Center people mover tram, a 1.5-mile-long subterranean tunnel, is one of the megaprojects in the United States that is predicted to boost demand for tile adhesives. Marble is also commonly used in kitchen and bathroom floors. One of the primary factors pushing residential construction is the growing population. The expansion of the worldwide tile & marble adhesives market is predicted to be boosted by the proliferation of new residential spaces and properties to address the housing special crisis for the expanding population.
Growing Popularity of Open-air Entertaining Spaces to Drive Market
Over the last decade, the popularity of open spaces such as outdoor hotels, cafes, play arenas, swimming pools, and lounges has skyrocketed. These areas are usually constructed to be attractive and pleasant to the eye. Ceramic tiles, stones, and marble flooring are all luxurious. In addition, the hotel and accommodation industry is booming due to the growing tourism sector. The market for tile and marble adhesives will be driven by the high demand for tiles and marble for the development of such areas.
Presence of Substitutes of Tiles in Market May Hamper Market Growth
Wood, vinyl flooring, composite flooring, cement flooring, and other flooring substitutes for tiles and marbles are available on the market. The adoption of these flooring solutions is likely to reduce demand for tiles and marble, putting a damper on the market for tile and marble adhesives.
Cementitious Segment to Hold Major Market Share Attributed to Lower Cost
The market is segmented into cementitious, and epoxy/polymeric in terms of type.
Cementitious segment held the key share in 2020. Relatively lower cost and superior properties of cementitious adhesives is expected to drive he segment growth. Epoxy/polymer segment is experiencing steady growth attributed to the intensive R&D in developing advanced adhesives.
To know how our report can help streamline your business, Speak to Analyst
Non-Residential Segment to Hold Significant Share due to Rapid Urbanization
The market is segmented into residential and non-residential in terms of application.
The non-residential in the application segment generated maximum revenue in the year 2020. Rapid urbanization and increasing constructional activities is expected to drive the segment growth. Residential segment is expected to show considerable growth.
Asia Pacific Tile and Marble Adhesives Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
Asia Pacific to Lead Market due to Increasing Demand of Cementitious Adhesives from Developing Regions
In 2020, the market in Asia Pacific was valued at USD 1.94 billion. The regional tile and marble adhesive market is likely to be driven by rising residential and commercial development projects. In 2019, China, for example, approved 26 infrastructure projects worth a total of USD 142 billion. Demand for cementitious adhesives is expected to be strong in developing countries like India and China. According to a research by the Association of Italian Manufacturers of Machinery & Equipment for Ceramic (ACIMAC), Asia used 69 percent of all tiles made globally in 2016. Furthermore, easy access to raw materials and labour is expected to boost expansion.
Because of the large number of manufacturers present, Europe is likely to have a considerable growth in this market. Growth will be aided by a rise in the number of people constructing and renovating dwelling areas. Increased spending on the interiors and exteriors of residential spaces, as well as an increase in disposable income, are predicted to fuel growth. Furthermore, high marble output in nations like Spain and Italy can boost market growth significantly.
Because of the rising demand for tiles and marble flooring in commercial and corporate settings, North America is likely to expand significantly. Market growth will be aided by industrial expansions and the establishment of corporate offices in the United States.
Industrialization and urbanisation in nations like Brazil, Mexico, Argentina, and Colombia are likely to drive significant growth in Latin America. Various government measures to boost construction and infrastructure development are expected to rise.
To know how our report can help streamline your business, Speak to Analyst
Due to the numerous development projects resulting from the rising tourism sector, the Middle East and Africa are predicted to increase rationally. For example, demand for tile and marble adhesives is likely to remain strong throughout the upcoming Dubai Expo 2020 and Fifa 2020 events.
Key Companies to Adopt Strategies and Broaden their Market Presence
With a large number global players, the global tile and marble adhesives market is fragmented in nature. H.B Fuller Company, BASF SE, Arkema, Henkel AG & Co. KGaA, Fosroc, Pidilite, Akemi, Sika AG, and others are some of the key players operating in market.
Industry players operate principally based on the product's price and application characteristics. To boost the tile and marble adhesive market share, and achieve a competitive advantage, several major market players are engaged in numerous strategic alliances to promote brand and sales.
An Infographic Representation of Tile and Marble Adhesives Market
To get information on various segments, share your queries with us
The market research report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, products, and raw materials. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the market's growth in recent years.
This report includes historical data & forecasts revenue growth at global, regional, and country levels, and analyzes the industry's latest market dynamics and opportunities.
Value (USD billion)
Type, Application and By Region
Fortune Business Insights says that the global market size was USD 3.95 billion in 2020 and is projected to reach USD 8.00 billion by 2028.
In 2020, the Asia Pacific market size stood at USD 1.94 billion.
Growing at a CAGR of 9.1%, the market will exhibit steady growth during the forecast period (2021-2028).
The non-residential segment is expected to be the leading segment in this market during the forecast period.
Growing construction and renovation activities expected to drive market.
H.B Fuller Company, BASF, Arkema, Fosroc, Pidilite, Akemi, Sika AG are major players in the global market.
Asia Pacific controlled the highest market share in 2020.
Higher rate of adoption of ceramic tiles to act as an opportunity for the market.
The market was worth USD 3.95 Bn in 2020.
H.B Fuller Company, BASF, Arkema, Fosroc, Henkel, Pidilite, Akemi, Sika AG are some of the Key players in market.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry