DUBLIN , Feb. 9, 2023 /PRNewswire/ -- The "North American Floor Adhesives Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The North American floor adhesives market size is projected to reach an estimated value of US$ 1,138.6 million in 2027
The upward trajectory of the floor adhesives market in the region is likely to continue with attractive growth opportunities in the entire ecosystem of the market in the coming years.
The outbreak of the pandemic shook the construction industry to the core. As a result, the industry recorded a massive decline across regions. The impact of this has been recorded across its supply chain including the demand for floor adhesives, which plummeted by over -7.8% in the year 2020. Growing North American construction industry, increasing consumption of adhesives in North America , increasing usage of water-based adhesives in order to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and the ability of adhesives to bond dissimilar materials are the driving factors that are burgeoning the growth of floor adhesives in the North American market. The market dynamics of floor adhesives in North America are different from that of other parts of the world. The region has an overall high penetration of adhesives in flooring applications as compared to Asia-Pacific , which is the largest flooring adhesives market. Also, the per capita consumption of floor adhesives is quite higher in North America as compared to that of Asia-Pacific .
Based on the material type as Epoxy, Polyurethane, Acrylic, Vinyl, and Others. Polyurethane adhesives currently dominated the North American floor adhesives market, driven by their higher usage in wood flooring applications. Acrylic adhesives are likely to witness the highest growth during the same period, owing to their increased usage in LVT flooring and carpet applications. Based on the application type, the market is segmented into Tiles & Stone, Wood, Carpet, Laminate, Vinyl Flooring, and Others. Wood flooring is likely to be the dominant application type in the regional floor adhesives market during the forecast period. There is increasing usage of adhesives instead of mechanical fastening systems in wood flooring applications.
Wood flooring requires more adhesive content per square foot, which further elevates the demand for adhesives in the segment. Vinyl flooring application is expected to witness the highest growth during the forecast period, driven by increasing demand for luxury vinyl tiles (LVT) in North America . Based on the technology type the market is segmented as Water-based Adhesives, Solvent-based Adhesives, and Other Adhesives. Water-based technology currently dominates the North American floor adhesives market. The technology type is also likely to grow at the highest rate during the forecast period, driven by stringent regulations regarding reducing VOC emissions in order to create a safer environment. The North American floor adhesives market is further segmented based on countries (The USA , Canada , and Mexico ). The USA is likely to maintain its leading position in the region's market over the next five years. The country is also expected to witness the highest growth over the same period. The USA is also among the leading market for floor adhesives globally and will remain the major market in the coming years.
The supply chain of this market comprises raw material suppliers, floor adhesive manufacturers, dealers & distributors, and flooring installers.
The following are some of the key players in the North American floor adhesives market:
Henkel AG & Co KGaA
W. F. Taylor Co. Inc
The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
For more information about this report visit https://www.researchandmarkets.com/r/ufctnv-american?w=5
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