As per Stratview Research, the global floor adhesives market is projected to grow at a healthy growth over the next five years and reach US$ 6,947.8 million in 2023. Growing global construction industry, increasing consumption of adhesives globally, increasing use of water-based adhesives over solvent-based adhesives to reduce VOC emissions, replacement of mechanical fastening systems with adhesives, and ability of adhesives to bond dissimilar materials are some of the key factors burgeoning the demand for floor adhesives in the construction industry. Another factor which attracts adhesives usage is ease of installation of polymer-based adhesives compared to traditional mechanical fastening system or cementitious powders.

Based on the material type, acrylic adhesive segment currently dominates the global floor adhesives market, driven by increasing usage of carpet and resilient flooring applications. Polyurethane (PU) adhesive is mainly preferred in wood flooring applications, owing to its excellent properties, such as long-lasting surface finish; superior chemical, solvent, and scratch resistance; fast drying; resistance to UV light damage, general wear-and-tear, and extreme temperature variations.

Resilient flooring is likely to remain the most dominant application type in the global floor adhesives market over the next five years. Among resilient flooring applications, luxury vinyl tile (LVT) is gaining popularity

In terms of technology type, water-based technology dominates the floor adhesives market.

Asia-Pacific is expected to remain the largest and fastest-growing floor adhesives market globally in the foreseeable future. Despite declining growth of the Chinese economy,

Some of the major floor adhesive suppliers include Ardex GmbH, Arkema Inc. (including Bostik), Bona AB, H.B. Fuller Company, Henkel AG & Co. KGaA, Mapei Corporation, Pidilite Industries Limited, Roberts Consolidated, Sika AG, and W.F. Taylor Co., Inc. Development of innovative products, regional expansion, and building of vast distribution network to the unpenetrated markets are some of the major strategies adopted by the major companies in order to quickly gain market share and to gain a competitive edge in the market.