Editor's Note
This editor’s note highlights the key facts and market implications behind “Tile Grout and Adhesives Market Size, Share Anal”, with emphasis on sourcing, product fit, fabrication, logistics, or buyer impact.
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 are special kinds of glue utilized to fix tiles. It is a ready-made mixture that includes polymers, Portland cement, epoxy, and aggregate particles. In addition, it is used for laying tiles in connecting sections of pre-cast concrete, masonry walls, and sealing joints in flooring. The sealing of tiles with adhesive and grout makes them water-resistant to avoid discoloration. Moreover, these grouts and adhesives eliminate the threat of mold and mildew caused by moisture by restricting water entry through the gaps between the tiles.
However, the utilization of mortar instead of grout and adhesive may hamper the tile grout and adhesives market growth. Mortar is one of the most commonly used materials to attach tiles to flooring and drywall. The cost of mortar is low compared to grout and adhesive; hence, in developing countries of Asia-Pacific and LAMEA, mortar remains the popular choice for installation of tiles. Furthermore, lack of awareness regarding grout and adhesive also increases the utilization of mortar. Laying tiles using mortar requires less cement. Around 15 kg of cement can be used to lay tiles on an average area of 5 square meters, whereas 25 kg of tile adhesive is required for the installation of tiles. In addition, a shortage of skilled tile fixers who can use grout and adhesive effectively restrains the growth of the tile grout and adhesives market.
Furthermore, an increase in emphasis toward the utilization of low VOC grout and adhesive is anticipated to create lucrative business opportunities for market players. VOC compounds emit gases that are extremely harmful and can cause both adverse short-term and long-term health effects. Thus, low VOC and non-toxic grout and adhesive for wall and flooring materials have been widely introduced to the construction industry to reduce indoor pollutant concentrations.
There is a rising trend toward the adoption of thermally treated tiles, owing to their increasing popularity among residential and commercial end users. In addition, installation of ceramic flooring in outdoor spaces has raised the value perception among individuals due to its antique features. Thus, the growing adoption of such tiles is anticipated to drive market growth during the forecast period.
The global tile grout and adhesives market is segmented on the basis of type, application, and region. Based on type, the market is segmented into adhesive and grout. By application, it is divided into residential, commercial, and industrial. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market 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.
The major players operating in the global market have adopted key strategies such as acquisition and product development to strengthen their market outreach and sustain stiff competition. For instance, in October 2018, Sika AG launched the SikaCeram adhesive range in the Indian market. These adhesives can be used for tile and stone applications. Similarly, in May 2019, Sika AG acquired the company Parex, a global manufacturer of tile adhesives, façade mortars, and waterproofing mortars. The acquisition has created opportunities for Sika AG to gain a strong foothold in Parex’s distribution channels and open new business opportunities.
However, a rise in the trend of adoption of mortar for tile fixing is anticipated to restrain global market growth. Moreover, growth in adoption of non-toxic grout and adhesives is expected to provide lucrative growth opportunities. Market players are also acquiring other companies and enhancing their product portfolios to increase their market potential in terms of geographic and customer base expansion.
Outdoor entertainment areas such as porches, patios, and backyards have gained significant popularity, owing to their functional utility for small gatherings and semi-natural ambiance. As a result, people are increasingly opting for outdoor entertainment areas in their residential and commercial buildings. Moreover, a rise in demand for outdoor flooring among residential buildings such as bungalows, condos, townhouses, and row houses with attractive outdoor flooring solutions fuels market growth.
Source: Read the original article | Published: December 02, 2019