COVID-19 Impact on Acrylic Flooring Adhesives Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the acrylic flooring adhesives market.
Key Drivers and Restraints of Acrylic Flooring Adhesives Market
- Acrylic flooring adhesives have major applications in the commercial industry. The shifting trend toward renovation of existing buildings owing to increasing disposable income and inclination for esthetic appearance is propelling the demand for these adhesives. In addition, government initiatives towards economic recovery are positively influencing the demand for acrylic flooring adhesives. Increasing demand for acrylic flooring adhesives in the commercial sector is expected to fuel the global acrylic flooring adhesives market in the next few years.
- Rising demand for acrylic flooring adhesives in the residential sector is also expected to create significant opportunities for the acrylic flooring adhesives market in the near future. Increasing construction of commercial buildings, such as drugstores, grocery, and big-box stores, is expected to drive the segment during the forecast period. Moreover, robust demand for office spaces, especially in urban areas of emerging economies, is propelling demand for high-quality acrylic flooring adhesives. Wide range of applications of acrylic flooring adhesives in various end-use industries is also likely to boost the demand for acrylic flooring adhesives in the near future.
Acrylic Flooring Adhesives: Resin Type Segment
- In terms of resin type, the global acrylic flooring adhesives market can be segmented into epoxy, polyurethane, acrylic, vinyl, and others
- The epoxy resin type segment of the global acrylic flooring adhesives market is projected to hold a major share during the forecast period. Epoxy resin systems are widely used for bonding concrete to a variety of materials such wood, metal, and rubber. Application of epoxy resin-based floor adhesives offers various benefits. Some of the advantages offered are 100% solids, volatile organic compound (VOC) free, non-corrosive, high peel strength, and non-flammable. Therefore, epoxy floor adhesives are extensively used in industrial areas; and commercial, residential, and public places, including shopping malls, institutions, hospitals, schools, industrial buildings, prisons, and sports halls.
- The polyurethane segment is projected to follow the epoxy segment during the forecast period. Rising demand for polyurethane adhesives has compelled raw material suppliers to enhance their production capacity. High demand for polyurethane in the residential sector is driving the global acrylic flooring adhesives market.
Acrylic Flooring Adhesives: End-use Segment
- Based on end-use, the global acrylic flooring adhesives market can be segmented into residential, commercial, and industrial
- The commercial segment is projected to gain higher share of the global market during the forecast period. Commercial applications are subject to high traffic areas; therefore, they require durable flooring such as wooden. In such flooring applications, adhesives are necessary products and are found in numerous commercial building applications such as offices, convenience stores, shopping malls, and retail stores. Hence, wide usage of acrylic flooring adhesives in the commercial sector is expected to drive the acrylic flooring adhesives market during the forecast period.
- The residential segment is also projected to hold key share of the global acrylic flooring adhesives market in the near future. Acrylic flooring adhesives are applied on surfaces with an aim to lubricate and polish them; and prevent their decaying. Acrylic flooring adhesives are used in residential flooring as well as non-residential flooring.
Asia Pacific to Hold Leading Share of Acrylic Flooring Adhesives Market
- In terms of region, the acrylic flooring adhesives market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global acrylic flooring adhesives market, followed by Europe and North America, during the forecast period. This can be attributed to the growth in construction activities in China, India, and ASEAN countries. Advancement of emerging technologies is also estimated to fuel the market in the developing countries of Asia Pacific during the forecast period.
Key Manufacturers Operating in Acrylic Flooring Adhesives Market
The acrylic flooring adhesives market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the acrylic flooring adhesives market include:
- Avery Dennison Corporation
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Mapei S.p.A.
- Pidilite Industries Limited
- Sika AG
- The Dow Chemical Company
- Forbo Holdings AG
Acrylic Flooring Adhesives: Research Scope
Acrylic Flooring Adhesives Market, by Resin Type
Acrylic Flooring Adhesives Market, by End-use
Global Acrylic Flooring Adhesives Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Acrylic Flooring Adhesives: Introduction
- Acrylic flooring adhesives are designed to give a high bond strength, strong initial tack, and a long open time. Acrylic floor adhesive is a sticky substance used to secure the surface covering material to the subfloor or underlayment. It has the unique feature of wetting the material, enhancing strength after application, and transmitting weight between two bases.
- Acrylic flooring adhesives are used in various industries including residential, commercial, and industrial. They are used in a variety of applications such as tile, stone, carpet, wood, and laminate.
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