Saudi Arabia Floor Adhesive Market
Saudi Arabia Floor Adhesive Market - By Resin Type (Epoxy, Polyurethane, Acrylic, Vinyl, Others); By Technology (Water-borne, Solvent-borne, Other Technologies); By Application (Tile & Stone, Carpet, Wood, Laminate, Resilient Flooring, Other Applications); End-Use Industry (Residential, Commercial, Industrial), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: January 2023
- Report ID: BWC23082
- Available Format: PDF
- Page: 112
Report Overview
Increasing disposable income among people driving the renovations of existing buildings across the kingdom and growing investments in the construction industry are expected to boost the expansion of Saudi Arabia floor adhesives market during the forecast period between 2023 and 2029.Saudi Arabia Floor Adhesive Market - Industry Trends & Forecast Report, 2029
Saudi Arabia floor adhesive market size is projected to grow at a CAGR of 6.7% during the forecast period between 2023 and 2029. Major growth factors for the Saudi Arabia floor adhesive market include expanding construction activities in the country. The Saudi Government is focusing on economic diversification and boosting tourism, as part of its Saudi Vision 2030. For this purpose, it is investing in the construction of commercial, industrial, and residential spaces. The increasing development of commercial spaces, such as offices, schools, and shopping complexes, and the rising demand for housing in Saudi Arabia will eventually boost the demand for flooring materials, propelling the overall market growth.
Saudi Arabia Floor Adhesive Market – Overview
The purpose of flooring adhesives is to join two surfaces, often the bottom of the flooring and the concrete beneath it. Liquid flooring glue is applied, hardens as it dries, and permanently fuses the two components. There are three types of floor adhesives available in the market: water-based, polyurethane-based, and acrylic. Various adhesives dry at various speeds. This refers to the amount of time before the glue dries out to use it. It will also show how long it will take for the floor to set once it has been put up. The user may work more quickly during installation and move more quickly over the floor the shorter the dry period.
Saudi Arabia Floor Adhesive Market
Growth Drivers
Growing Investments in the Construction Industry
The Saudi Arabian construction market is expected to grow as a result of the government's plans to develop the housing industry. In addition, the market is growing due to the expansion of the tourism industry and the rise in residential construction. “Not surprisingly, the Kingdom has maintained its position as the strongest market across the MENA region with the highest total value of project awards for four consecutive years,” as the Arab News reported. As a result, the demand for floor adhesives is projected to surge during the forecast period, propelling the overall market growth.
Restraints
Hazardous Health Effects Due to VOC Emissions
Floor adhesives can emit VOCs, just as other products with petrochemical bases (Volatile Organic Compounds). Other compounds in the product have the potential to cause immediate damage to exposed employees and building occupants. They may deteriorate over time, putting building inhabitants in danger. By inhaling it over an extended period of time, tile adhesive poses a major health risk. Ingestion of these adhesives may result in significant irritation of the mouth, esophagus, and digestive system. These health hazards act as a major restraining factor for the Saudi Arabia floor adhesive market growth.
Impact of COVID -19 on Saudi Arabia Floor Adhesive Market
The COVID-19 pandemic drastically slowed the demand for floor adhesive in Saudi Arabia market. Saudi Arabia's construction work was briefly put on hold due to the lockdown and the suspension of non-essential economic operations. Due to the building and construction sector's sluggish growth, the demand for flooring adhesive products in 2020 were slow. Additionally, the residential sector's lack of demand for remodeling and restoration projects resulted in significant losses for the Saudi Arabian floor adhesive industry.
Saudi Arabia Floor Adhesive Market
Segmental Coverage
Saudi Arabia Floor Adhesive Market – By Resin Type
Based on resin type, the Saudi Arabia floor adhesive market is segregated into epoxy, polyurethane, acrylic, vinyl, and other segments. The acrylic segment accounts for the highest share in the Saudi Arabia floor adhesive market. The substantial growth of this segment is ascribed to acrylic resins' properties, which include quick setting times and improved adherence to bond-challenging surfaces. They give good resistance to the environment. The creation of UV light-curing adhesives as well as waterborne and heat-resistant adhesives uses acrylic resins.
Saudi Arabia Floor Adhesive Market – By Technology
Based on technology, the Saudi Arabia floor adhesive market is segmented into water-borne, solvent-borne, and other technologies. The water-borne technology has the highest demand in the Saudi Arabia floor adhesive market, as water-based adhesives can be used with diverse types of floorings including tile and stone. They are simple to use and inexpensive to create. With a wet bond glue, it is typically simpler to have a consistent consistency, which also acts as a favorable factor for the market growth of the water-borne floor adhesive in the Saudi Arabia market.
Saudi Arabia Floor Adhesive Market – By Application
Based on application, the Saudi Arabia floor adhesive market is segmented into tile & stone, carpet, wood, laminate, resilient flooring, and other applications. Tiles and stones are the most common flooring type in Saudi Arabia. Tiles are widely applied as dining room table tops as well as flooring in kitchens, baths, parking lots, and rooftops. Furthermore, ceramic floor tiles do not draw dust and dust mites as carpets do. Because there is less dust in homes with ceramic tiles and fewer household allergens, the air is significantly better, which acts as a favorable factor in the demand for tiles and stone flooring in Saudi Arabia.
Saudi Arabia Floor Adhesive Market – By End-User Industry
Based on the end-user industry, the Saudi Arabia floor adhesive market is categorized into residential, commercial, and industrial segments. The commercial segment accounts for the highest share in the Saudi Arabia floor adhesive market owing to the increasing construction of commercial spaces such as offices, retail stores, hotels, medical centers, warehouses, in the country. With an increasing focus and investments towards boosting tourism, the number of tourist-centered spaces such as hotels, airports, and guest houses, is also rising, significantly boosting the demand for floor adhesives for flooring installation purposes.
Competitive Landscape
Major players operating in the Saudi Arabia floor adhesive market include Bostik SA, Mapei S.P.A., Laticrete International Inc., Forbo Holding AG, Wacker Chemie AG, The DOW Chemical Company, Henkel AG & Co. KGaA, Sika AG, Pidilite Industries Limited, and BASF. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Million |
Product/ Service Segmentation |
Resin Type, Technology, Application, End-Use Industry |
Key Players |
Bostik SA, Mapei S.P.A., Laticrete International Inc., Forbo Holding AG, Wacker Chemie AG, The DOW Chemical Company, Henkel AG & Co. KGaA, Sika AG, Pidilite Industries Limited, BASF |
By Resin Type
-
Epoxy
-
Polyurethane
-
Acrylic
-
Vinyl
-
Others
By Technology
-
Water-borne
-
Solvent-borne
-
Other Technologies
By Application
-
Tile & Stone
-
Carpet
-
Wood
-
Laminate
-
Resilient Flooring
-
Other Applications
By End-Use Industry
-
Residential
-
Commercial
-
Industrial
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Saudi Arabia Floor Adhesive Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing Investments in the Construction Industry
- Shifting Trend Toward the Renovation of Existing Buildings Owing To Increasing Disposable Income
- Restraints
- Hazardous Health Effects Due to VOC Emissions
- Opportunities
- Government Initiatives Towards Economic Recovery
- Increasing Demand from Residential End-user Industry Segment
- Challenges
- Volatility in Raw Material Prices
- Growth Drivers
- Technology Landscape/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia Floor Adhesive Market Overview
- Market Size & Forecast by Value, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Resin Type
- Epoxy
- Polyurethane
- Acrylic
- Vinyl
- Others
- By Technology
- Water-borne
- Solvent-borne
- Other Technologies
- By Application
- Tile & Stone
- Carpet
- Wood
- Laminate
- Resilient Flooring
- Other Applications
- By End-Use Industry
- Residential
- Commercial
- Industrial
- By Resin Type
- Market Size & Forecast by Value, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- Impact of COVID-19 on Saudi Arabia Floor Adhesive Market Industry
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- Bostik SA
- Mapei S.P.A.
- Laticrete International Inc.
- Forbo Holding AG
- Wacker Chemie AG
- The DOW Chemical Company
- Henkel AG & Co. KGaA
- Sika AG
- Pidilite Industries Limited
- BASF etc.
- Other Prominent Players
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
- Key Strategic Recommendations
List of Figures
Figure 1 Saudi Arabia Floor Adhesive Market Segmentation
Figure 2 Saudi Arabia Floor Adhesive Market Value Chain Analysis
Figure 3 Porters Analysis
Figure 4 Saudi Arabia Floor Adhesive Market Size, By Value (USD Million), 2019–2029
Figure 5 Saudi Arabia Floor Adhesive Market Share, By Resin Type, By Value, 2019–2029
Figure 6 Saudi Arabia Floor Adhesive Market Share, By Technology, By Value, 2019–2029
Figure 7 Saudi Arabia Floor Adhesive Market Share, By Application, By Value, 2019–2029
Figure 8 Saudi Arabia Floor Adhesive Market Share, By End User, By Value, 2019–2029
Figure 9 Saudi Arabia Floor Adhesive Company Market Share Analysis, 2022
List of Table
Table 1 Saudi Arabia Floor Adhesive Market Size, By Resin Type, By Value, 2019–2029
Table 2 Saudi Arabia Floor Adhesive Market Size, By Technology, By Value, 2019–2029
Table 3 Saudi Arabia Floor Adhesive Market Size, By Application, By Value, 2019–2029
Table 4 Saudi Arabia Floor Adhesive Market Size, By End User, By Value, 2019–2029
Table 5 Bostik SA, Company Overview
Table 6 Bostik SA Financial Overview
Table 7 Mapei S.P.A Company Overview
Table 8 Mapei S.P.A Limited Financial Overview
Table 9 Laticrete International Inc. Company Overview
Table 10 Laticrete International Inc. Financial Overview
Table 11 Forbo Holding AG Company Overview
Table 12 Forbo Holding AG Financial Overview
Table 13 Wacker Chemie AG Company Overview
Table 14 Wacker Chemie AG Financial Overview
Table 15 The DOW Chemical Company: Company Overview
Table 16 The DOW Chemical Company Financial Overview
Table 17 Henkel AG & Co. Company Overview
Table 18 Henkel AG & Co. Financial Overview
Table 19 Sika AG Company Overview
Table 20 Sika AG Financial Overview
Table 21 Pidilite Industries Limited Company Overview
Table 22 Pidilite Industries Limited Financial Overview
Market Segmentation
By Resin Type
-
Epoxy
-
Polyurethane
-
Acrylic
-
Vinyl
-
Others
By Technology
-
Water-borne
-
Solvent-borne
-
Other Technologies
By Application
-
Tile & Stone
-
Carpet
-
Wood
-
Laminate
-
Resilient Flooring
-
Other Applications
By End-Use Industry
-
Residential
-
Commercial
-
Industrial
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
Frequently Asked Questions (FAQs):
RELATED REPORTS
WHY CHOOSE US
-
24/7 Research Support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Custom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
-
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.