TAGS: Epoxy Adhesives
Research and Markets (RM) anticipates that the global tile & stone adhesives market size is projected to grow from USD 4.7 billion in 2022 to USD 7.0 billion by 2027, at a CAGR of 8.0%, between 2022 and 2027.
Tile and stone adhesives are used to create a strong and durable bond between tile/stone and the tiling substrate. These adhesives are used to fix ceramic tiles, porcelain tiles, mosaics, marble, and granite to walls and floors in residential, commercial, and institutional applications.
Residential Segment to Hold Largest Market Share
Based on chemistry, epoxy is expected to lead the tile & stone adhesives market. Epoxy accounted for the largest share and is a major type of tile & stone adhesives. Epoxy adhesives are arguably among the most versatile resins used across industries. They exhibit superior tensile and shear strength, but poor peel strength unless modified with a more resilient polymer. They offer excellent resistance to oil, moisture, and a number of solvents. Low shrinkage on curing and high resistance to creep under prolonged stress are the major characteristics of several high-quality epoxy adhesives.
Based on construction type, the tile & stone adhesives market is segmented into new construction and repairs & renovation. The construction industry is growing at a faster rate as a result of increased spending in residential and institutional applications, for this purpose, globally. These adhesives have a huge market for tile-on-tile application in India, Singapore, and China. Also, the high spending planned by respective governments of developing economies such as Qatar, Oman, Vietnam, Poland, Ukraine, Argentina, and Brazil, is expected to drive the growth of tile adhesives in new construction applications.
Highest Growth in Asia Pacific Region
Based on end use, the tile & stone adhesives market is segmented into residential, commercial, and institutional. The institutional segment, which includes hotels, hospitals, schools, colleges, and universities, is projected to register the highest CAGR, in terms of value, during the forecast period. This growth is due to initiatives taken by government organizations to boost education, medical, and tourism activities globally. The leading countries in these segments include Sweden, Oman, Kuwait, India, Qatar, Thailand, and Malaysia.
Asia Pacific is the fastest-growing tile & stone adhesives market globally. The increasing awareness about the benefits of tile adhesives, improved tile strength & slip resistance, low VOC emitting products, and a large number of residential construction activities in Vietnam, Singapore, Malaysia, India, and China are fueling the growth of the tile & stone adhesives market. Asia Pacific is the more promising market and is expected to be the same during the forecast period.
Source: Research and Markets