Tile and Marble Adhesives Market Size, Share & COVID-19 Impact Analysis, By Type (Cementitious and Epoxy/Polymeric) By Application (Residential and Non-residential), and Regional Forecast, 2021-2028

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. Asia Pacific dominated the tile and marble adhesives market with a market share of 49.11% in 2020. 

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.

LATEST TRENDS

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.

DRIVING FACTORS

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.

RESTRAINING FACTORS

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.

SEGMENTATION

By Type Analysis

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.

By Application Analysis

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.

REGIONAL INSIGHTS

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.

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 INDUSTRY PLAYERS

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.

LIST OF KEY COMPANIES PROFILED:

• BASF SA (Ludwigshafen, Germany)


• Henkel AG & Co. KGaA (Dusseldorf, Germany)


• H.B. Fuller Company (Minnesota, U.S.)


• Arkema Group (Columbes, France)


• AKEMI (Dresden, Germany)


• Fosroc Inc. (Dubai, UAE)


• Ardex Endura (Bengaluru, India)


• LATICRETE International Inc. (Connecticut, U.S.)


• The Dow Chemical Company (Delaware, U.S.)


• Pidilite Industries (Mumbai, India)


• Saint Gobain-Weber (Eindhover, Netherlands)


• Sika AG (Baar, Switzerland)


• Mapei (Milan, Italy)


• Acc Limited (Mumbai, India)


• Other Key Players

KEY INDUSTRY DEVELOPMENTS:

• May 2021 – Arkema expanded Bostik’s business in US. The company expanded its product offerings in high performance adhesives.


• January 2020- Arkema’s Bostik business of adhesives completed its acquisition of LIP LIP Bygningsartikler AS (LIP), the Danish manufacturer in tile adhesives, waterproofing systems and floor preparation solutions.

REPORT COVERAGE

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.

Report Scope & Segmentation