Tile adhesives & stone adhesives are used for fixing ceramic or porcelain tiles as well as stones such as marble and granite to walls, floors, and other areas. The global tile adhesives & stone adhesives market size is estimated to reach USD 4.10 billion by 2021 and is projected to register a CAGR of 9.4% between 2016 and 2021. Increasing awareness about benefits of tile adhesives in the Asia-Pacific region, rising housing demand, favorable government policies on residential construction, urbanization, and rapid industrialization are fueling the growth of the tile & stone adhesives market, globally.
New construction is the largest segment of the tile adhesives & stone adhesives market, as huge residential projects are planned by the developing regions in countries such as Saudi Arabia, Qatar, Mexico, Malaysia, and Vietnam. Moreover, the government of each country has substantially increased the investment patterns to enhance the living standards of people.
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The cementitious segment of the market is expected to witness the highest growth during the forecast period. It is a preferred choice, as polymer-modified cementitious chemistry bonds a wide range of ceramic and porcelain tiles to concrete substrates. The price of these adhesives is the lowest, as cement is available abundantly. In addition to this, cementitious adhesives are being modified with new chemistries to replace costly epoxy and polyurethane chemistries.
The tile adhesives & stone adhesives market is expected to witness a high growth rate between 2016 and 2021, in terms of volume. The market is rapidly evolving with the key players playing a crucial role in its development. The key companies profiled in this report include Mapei (Italy), Ardex GmbH (Germany), Laticrete International (U.S.), Saint-Gobain Weber (France), and Bostik Inc. (France). The growing demand for tile adhesives & stone adhesives in Asia-Pacific and Latin America has encouraged companies such as Mapei and Bostik Inc. to adopt several business strategies to retain their competitiveness in the global market.
Expansions are the most widely used strategy by these players in the Middle East & Africa, Asia-Pacific, and Latin America. Market players are concentrating on increasing their production capacities and developing cost-effective technologies. Major companies are investing to upgrade their units for enhanced production of tile adhesives. All these developments meet the increasing demand for tile & stone adhesives from a variety of applications such as residential, commercial, and institutional.
H.B. Fuller (U.S.) adopted acquisition as its key strategy in the tile adhesives & stone adhesives market. The company has acquired ProSpec (U.S.), a leading manufacturer of tile & stone adhesives to increase its foothold in the South Eastern and Western part of the U.S. where tile consumption is the largest.
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Bostik Inc. (France), a leading producer of tile adhesives, globally, has increased its plant capacity in Seremban, Malaysia in May 2016 for manufacturing cementitious products as a result of the rising demand from the Southeast Asian countries. The company also inaugurated a 100 kilotons cementitious tile adhesive manufacturing plant in Rio de Janeiro, Brazil in 2015. It recently started a new plant in China to cater the demand for cementitious products.
Mapei (Italy), a leading manufacturer of construction adhesives, added new tile adhesive products to its existing portfolio. The adhesives are suitable for installation of ceramic and porcelain tiles for non-moisture applications.
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