The report "Tile Adhesives & Stone Adhesives Market by Chemistry (Cementitious and Epoxy), Application (Residential, Commercial, and Institutional), and Type of Construction Activity (New Construction and Repairs & Renovation) - Global Forecast to 2021", The tile adhesives & stone adhesives market size was USD 2.37 Billion in 2015 and is projected to reach USD 4.10 Billion by 2021, registering a CAGR of 9.4% between 2016 and 2021. There are increasing applications of tile adhesives in the housing, commercial, and infrastructure sectors in Asia-Pacific and the Middle East & Africa as a result of increased awareness about its benefits. In addition to this, the demand for ceramic and porcelain tiles are growing globally due to their low cost and maintenance, which is driving the market for tile & stone adhesives.
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 Asia-Pacific region is the fastest-growing segment of the tile adhesive market. This growth is mainly attributed to high economic growth rate, followed by growing demand for ceramic tiles in the residential and commercial applications and rising demand for infrastructure development, maintenance, and renovation, which is eventually driving the tile & stone adhesives market. The Asia-Pacific and RoW markets are estimated to witness significant growth in the next five years with the allied industries expected to stabilize the overall business requirement in the respective regions. The key players in the tile & stone adhesives market are Bostik Inc. (France), Mapei (Italy), Ardex GmbH (Germany), Laticrete (U.S.), and Saint-Gobain Weber (France).
