Tile Adhesive Market –
Overview:
Tile adhesive is a non-metallic
substance which is able to join two substrates using adhesion mechanisms
(developed between the adhesive and substrate) and cohesive mechanism
(developed within the adhesive itself). They have ultimate flexibility, high bond
strength, shock & impact and chemical resistance. Tile adhesives are used
to install tiles in residential and commercial buildings on floors or on walls.
The U.S. tile adhesive market is expected grow substantially and register a
healthy CAGR during the anticipated period (2017 – 2023).
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The need for tile adhesive in US
is gradually rising owing to factors such as, growing demand of ceramic and
thin porcelain decorative tiles, increase in residential housing projects and
boom in non-residential projects. US tile adhesive market is estimated to
witness high demand in near future. On the basis of type, cementicious tile
adhesive accounted the largest market value share in 2016, the segment is
anticipated to grow at highest CAGR due to its modified properties and low
price in comparison to other adhesives. Cementicious adhesive segment is
followed by dispersion adhesive and reaction resin adhesive. On basis of end
user, residential segment accounted for largest market share of 54.9%, the
segment is anticipated to grow at healthy CAGR during the forecast period due
to increase in residential construction activities.
However, lower profit margins due
to the usage of low-cost chemicals may restrain the market in future.
Key Player:
Bostik , Custom Building Products
, H.B. Fuller , PAREX Group SA , Sika AG , ARDEX Group , Terraco , Pidilite
Industries Ltd , Mapei S.p.A , Henkel AG & Co. KGaA , and Saint-Gobain
Weber among others are some of the prominent players at the forefront of
competition in the U.S. Tile Adhesive Market and are profiled in MRFR Analysis.
Industry/ Innovation/ Related
News:
April 2016 – Bostik
expanded its cementitious powder production capacities in Philippines, based on
its world-class Polymer Modified Binder (PMB) technology. With this expansion,
Bostik will be able to serve tile adhesive to construction customers. The
expansion would help Bostik to increase its market share and give strong
competition to Custom Building Products, one of the giant in tile adhesive in
U.S.
April 2016 – Parex Group
acquired Quartzobra, Brazilian tile setting material producer which has been
generating yearly revenue of USD 7.15 million. The acquisition has been made by
eyeing strong country based operations in Brazil for tile ashesives. The
acquisition strategy would help Parex Group to increase its market share in
Latin America region.
October 2016 – Sika AG
acquired a Hong Kong based leading manufacturer of tile adhesive and repair
mortars. The acquisition has been done in order to expand the tile adhesive
operation in Hong Kong in order to address the forthcoming demand.
January 2017 – ADREX has
expanded its manufacturing operations in Thailand earlier this year. The
production capacity of newly started factory is 15,000 tons, wherein the
primary focus will be the manufacturing of high-quality ARDEX Flooring and
Tiling products. The expansion has been done in order to address the demand of
tile adhesive in Asia Pacific region.
February 2017 – BASF
launched MasterTile® tile adhesives production in Russia. The range of
MasterTile® products includes five adhesives: MasterTile 404, MasterTile 414,
MasterTile 415, MasterTile FLX 23, MasterTile FLX 24. The adhesives’
formulations have been developed in line with GOST R 56387-2015 Russian
national standard, and EN 12004 European regulations, which regulate the
adhesion strength. The new product launch strategy would help BASF to dominate
in Europe tile adhesive market.
March 2017 – Saint-Gobain,
through the mortars activity (Saint-Gobain Weber), acquired 100% of Buildezee
Adhesives Botswana (PTY) Ltd, a leading manufacturer of tile adhesives and
grouts in Botswana. The acquisition has been done in order to expand the tile
adhesive operation in the region in order to address the forthcoming demand.
April-2016 - EVO-STIK has
launched a new, white floor and wall tile adhesive, ideal for use with ceramic,
stone and porcelain tiles with no risk of show through. Setting in as little as
two hours, the cement-based adhesive can be used to fix tiles to a range of
materials including wood, concrete and plaster. The innovative solution in tile
adhesive market by EVO-STIK would help it to attract the consumers in the
market.
April-2016 - Consumer
products giant Henkel has acquired tile adhesives business and associated
brands of Columbian wall and floor coverings manufacturer Alfagres for $19
million. The acquisition includes Alfagres’s key brands Alfalisto and
Pegalisto. With this acquisition, Henkel expects to expand its portfolio in
emerging markets and strengthen its adhesive technologies business in Colombia.
Competitive Landscape:
In competitive landscape, the
MRFR studies the key developments adopted by the companies between 2011 and
2016. Players in this market adopted various strategies to expand their
footprint and augment their market share. The key strategies followed by most
companies in the U.S. tile adhesive market were agreements and collaborations,
mergers and acquisitions, joint ventures and expansion. Due to growing demand
of tile adhesive in Asia Pacific region, the manufacturers in European region
are using acquisition strategy in the Asia Pacific and U.S. market.
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