According to a new report published by Allied Market Research, titled, " Tile Grout and Adhesives Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global tile grout and adhesives market size was valued at $2,244.0 million in 2018, and is projected to reach $3,880.2 million by 2026, growing at a CAGR of 6.8% from 2019 to 2026.
Tile grout and adhesive is a mixture of cement, chemicals, sand, and water. It is used to install and fill gaps of tiles for flooring. In other words, it is a special kind of glue utilized to fix tiles all around the residential and commercial spaces.
Rise in adoption of thermally treated tiles, growing popularity of outdoor entertaining area among residential end users, and surge in residential and non-residential construction activities drive the growth of the tile grout and adhesives market. However, threat of substitute products and fluctuations in foreign currencies may hamper the tile grout and adhesives market growth. Furthermore, increase in emphasis toward utilization of low VOC grout and adhesive is expected to offer lucrative growth opportunities for the market.
In 2018, based on type, the adhesives segment accrued the largest share in the tile grout and adhesives market. In addition, the expansion of infrastructure sector throughout the globe especially in emerging nations such as China and India fuels the demand for construction adhesives. Thus, growing infrastructure sector is expected to drive the growth of the grout and adhesives market.
Moreover, the manufacturers of grout and adhesives are developing new products as a strategy to increase their tile grout and adhesives market shares. For instance, in October 2019, Bostik, a brand of Arkema, launched BAM, a high-performance fiber-reinforced tile mortar. The product is formulated with RapidCure technology and can be used for the installation of heavy & large tiles, mosaics, porcelain, ceramic, natural stones, and other tiles. Similarly, in April 2019, it launched Grip N Grab adhesive for installation of heavy materials such as natural stone, concrete, wood, ceramic tiles, and others. The product features advance hybrid technology, which enables strong and permanent adhesion of materials on vertical surfaces.
Furthermore, the growth of residential sector, owing to increase in population and urbanization around the globe is projected to fuel the demand for tile grout and adhesives market in the coming years. Currently, based on application, in 2018, the residential segment have garnered significant market share, owing to the expansion of infrastructure sector in developing regions. In addition, the commercial segment is expected to exhibit significant growth during the forecast period. Proliferation of new commercial and residential properties in developing countries is expected to propel the demand for tile grout and adhesives, which, in turn, is anticipated to fuel the growth of the global grout and adhesives market.
Moreover, growth in the retail infrastructure across developing nations would boost the sales of grout and adhesives especially through hypermarkets and other channels. In terms of region, Asia-Pacific and LAMEA collectively contributed around 81.2% of shares in the global market in 2018.
The key players profiled in the tile grout and adhesives market report include Ardex GmbH, Arkema Group, BASF, Dow, Henkel, Laticrete International Inc., Pidilite Industries Limited, Saint-Gobain Group, Schomburg GmbH & Co. KG, and Sika AG. And some enterprises, such as Laticrete and Saint-Gobain., Ltd., are well-known for their grout and adhesives. For instance, in June 2019, Weber, a brand of Saint-Gobain launched, Multi Fix tile adhesive for fixing of hard body ceramic tiles. The hard body ceramic tiles are denser and stronger than the regular ceramic tiles and thus, the Multi Fix adhesive is especially designed with advance formulation, which has slower absorption rates. Similarly, in September 2018, it developed, weberjoint premium tile grout. The new grout is extra-flexible and scratch resistant that can be used for ceramic, quarry, natural stone & mosaic, and interior & exterior tiles.
Key Findings of the Tile Grout and Adhesives Market:
- The report provides an extensive analysis of the current and emerging tile grout and adhesives market trends and dynamics.
- Depending on type, the adhesive segment dominated the market, in terms of revenue in 2018 and grout segment is projected to grow at a CAGR 7.4% during the forecast period.
- By application, the residential segment led the tile grout and adhesives market in 2018.
- LAMEA is projected to register the highest growth rate in the coming years.
- In-depth tile grout and adhesives market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The key market players within the tile grout and adhesives market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the tile grout and adhesives industry.
- The report provides an extensive analysis of the market trends and emerging opportunities of the market.
- The global tile grout and adhesives market forecast analysis from 2018 to 2026 is included in the report.