Stone And Tile Adhesives & Sealants Market - Forecast(2023 - 2028)

Stone and Tile Adhesives & Sealants Market Overview

Stone and Tile Adhesives & Sealants Market size is forecast to reach $4.3 billion by 2026, after growing at a CAGR of 9% during 2021-2026 due to increasing demand from the residential, commercial and institutional sector. Polyvinyl acetate (PVA) is the most preferred vinyl ester to manufacture stone and tile adhesives and is used as porcelain decorative tiles in buildings. Agglomerated marbles are stone and tile adhesives & sealants, which are used for kitchen porcelain decorative tiles. The increasing building projects are expected to increase the demand of stone and tile adhesives & sealants in the global market. For instance, according to “India Brand Equity Foundation (IBEF),” India is representing 13% of GDP in real estate sector, which is expected to reach US$ 650 billion by 2025. Apart from this, according to “Associated General Contractors (AGC) of America”, in 2019 with private construction, the Unites States spending reached US$ 975 billion and with new construction expects to reach over 1.53 trillion dollars by 2022. Hence, rapid growth in the residential construction sector is expected to grow the stone and tile adhesives & sealants industry over the forecast period.

Impact of Covid-19

Major industries have got a hit because of COVID-19. Building and construction sector is one of the major industries that has shut their plant during lockdown due to lack of workers and less production & exportation of materials. For instance, according to the “Associated General Contractors of America (AGC)”, in 2020 private nonresidential construction spending was down 1.5%, commercial construction down 1.9%, and residential improvements dropped 0.4%. In addition, stone and tile adhesives & sealants are used in buildings as porcelain decorative ties. Also, agglomerated marbles are used in modular kitchen. However, hold on residential projects are hampering the market growth.

Report Coverage

The report: “Stone and Tile Adhesives & Sealants Market – Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Stone and Tile Adhesives & Sealants Industry.
By Material Type: Vinyl Ester, Polyvinyl Acetate, Epoxy Resin, and Others
By Application: Glass Tiles, Mosaic Tiles, Decorative Glass Panels and Splash backs, Porcelain Decorative Tiles (Kitchens, Hallways, Fireplace Surrounds, Floor Tiles, Others), Ceramic Tiles, Natural Stone Wall, Split Face Cladding Tiles, Agglomerated Marble, and Others
By End Use Industry: Residential Buildings (Private Dwellings, Apartments, Raw Houses), Commercial Buildings {Office, Industrial Buildings (Production Space, Warehouse, Others), Healthcare (Hospitals, Long Term Care Facilities, Clinics and Diagnostic Centers, Others), Hotels and Restaurants, Concert Halls and Museums, Sport Arena (Gym, Training and Coaching Center, Sports and Recreation Centers, Others), Educational Institutes (Schools, Universities and Colleges, Research Centers)}, and Others
By Geography: North America (U.S, Canada, and Mexico), Europe (U.K., Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle east and Africa)

Key Takeaways

• North America dominated the market share in stone and tile adhesives & sealants market due to the growing demand for single family houses in this region and increasing FDI in the construction sector in developed countries such as Canada, and Mexico.
• According to the “United Nations Conference on Trade and Development (UNCTAD)”, in 2019 Canada increased 16% FDI inflow (USD 50 billion of FDI) as comparison of 2018 (USD 43 billion of FDI).
• Agglomerated marble (made up of vinyl ester/epoxy resin), is widely used in both residential and public structures. Also, these marbles and porcelain decorative tiles are used in modular kitchens due to being very dense in nature. Thus, increase use of stone tiles and marbles are expected to grow the market demand in near future.
• Due to COVID-19 the building sector in highly affected because all constructions were held. For instance, according to the “AGC”, private and public nonresidential spending declined by a combined 1.6 percent in august 2020 and public construction spending declined by 1.7 % in September 2020.

Figure: North America Stone and Tile Adhesives & Sealants Market Revenue, 2021-2026 (US$ Billion)

Stone and Tile Adhesives & Sealants Market Segment Analysis – By Material Type

Vinyl ester segment held the primary material type of stone and tile adhesives & sealants market in 2020. vinyl esters are more tolerant of stretching and east to process than polyesters thus these are used for buildings and reinforcements for bridges. Vinyl ester is more able to absorb impact without damage. In addition, due to their low cost, superior chemical and corrosion resistance, excellent heat performance and good mechanical properties, vinyl ester is used in building and construction. Vinyl ester is mostly preferred polyvinyl acetate (PVA) to manufacturing of stone and tile adhesives. Thus, increasing the demand of vinyl esters for manufacturing of stone & tile adhesive, is expected to grow the market demand.

Stone and Tile Adhesives & Sealants Market Segment Analysis – By Application

Porcelain decorative tiles held the largest share by application in Stone and Tile Adhesives & Sealants Market in 2020 because porcelain decorative tiles are used in commercial space either a kitchen, washroom, hall ways, fireplace surround and other, due to their resistance and durability. Porcelain tiles are made by using finely grained clay at higher temperatures (1320°C), also these are denser, stronger and absorb moisture better than ceramic tiles. Thus, these are available in all finishes and use for both indoor and outdoor installations. Thus, porcelain decorative tiles can last many years in a residential setting. However, increasing investment in the residential project with growing demand for single family houses in United States will be expected to grow the demand of the flooring market. For instance, according to the “U.S. Census Bureau” and the “U.S. Department of Housing and Urban Development”, the United States had 1,386,000 building permits and 1,290,000 housing starts. It closed to 1,255,000 housing completions in 2019. Such all these factors are to meet the demand for stone and tile adhesives & sealants market.

Stone and Tile Adhesives & Sealants Market Segment Analysis – By End Use Industry

Residential sector held the largest share in stone and tile adhesive & sealants market in 2020, and is growing at a CAGR 9.2% in 2021. Globally, increasing demand of stone and tiles for interior decoration and outdoor applications are expected to grow the demand of the market. Thus, increasing construction activities contribute in market growth. For instance, according “India Brand Equity Foundation (IBEF)”, the real state sector in India is expected to reach a market size of US$ 1 trillion by 2030 and will grow to (US$ 9.30 billion) by 2040. On the other hand, according to India Brand Equity Foundation (IBEF), in 2019 Puravankara realty firm limited plans to invest Rs 850 crore to build 3 luxury housing projects in Bengaluru, Chennai, Mumbai over the next 4 years. Hence, increasing investment and projects to meet the growth for stone and tile adhesives & sealants market.

Stone and Tile Adhesives & Sealants Market Segment Analysis – By Geography

North America held the largest share in the Stone and Tile Adhesives & Sealants Market in 2020 with 30%. Increasing investment in residential sector with growing demand for single family houses in this region. According to an “American Housing Survey in U.S.”, there are about 95 million single family homes as of 2019. According to U.S. Census Bureau’s In 2019, 36% of the 683,000 U.S. homes sold. According to the “Commission for Environmental Corporation (CEC)”, in Canada, Mexico, and also the United Sates, industrial and residential building operations account for concerning 20%, 30%, and 40 % of the first energy consumption, severally. They usually additionally account for 20-25% of the landfill waste and 5-12 % of the water consumption. Apart from this, increasing FDI into the construction segment in Canada and Mexico, are further augmenting the demand for stone and tile adhesives & sealants.

Stone and Tile Adhesives & Sealants Market Drivers

Rapidly Increasing Residential Projects in Developing Region

In modern construction, ceramic tiles, porcelain decorative tiles and mosaics tiles, are used for decoration and finishing. Stone and tile adhesives & sealants market are expected to expand at a relatively high rate due to the growth in construction of buildings in developing regions such as Asia Pacific. For instance, according to “India Brand Equity Foundation (IBEF)”, Indian central government is aiming to build 20 million affordable houses in urban areas across the country by 2022, under scheme of the “Union Ministry of housing and Urban Affairs” " Pradhan Mantri Awasa Yojana". Under the "Housing for All" scheme by 2022, 40 million houses will be built in rural areas and 20 million houses will be built in urban areas. Thus, expected to influence market growth. 

Increase in the Usage of Ceramic and Thin Porcelain Decorative Tiles

Ceramic tiles and thin porcelain decorative tiles are used for interior decoration as well as renovation. Porcelain decorative tiles are used in commercial space either a kitchen, washroom or basement due to their resistance and durability. These tiles are waterproof and it is best to use when installing a wet room due to the levels of moisture. Apart from this, ceramic tiles are rapidly increasing in North America due to growing construction sector in the region is the major factor driving the demand for ceramic tiles. For instance, according to “Associated General Contractors of America (AGC)”, in 2020 private residential construction spending rose 2.9%. Single-family homebuilding jumped 5.6%, while multifamily construction spending rose 1.2%. in addition, in 2017 India shipped 20% of its total ceramic export to Saudi Arabia. Thus, Asia pacific held the largest share of the ceramic tiles market due to booming construction activities. For instance, according “India Brand Equity Foundation (IBEF)”, the real state sector in India is expected to reach a market size of US$ 1 trillion by 2030 and will grow to (US$ 9.30 billion) by 2040. Hence, due to various properties such as high wear resistance with low density, resistance to plastic deformation, ceramic and porcelain tiles used in buildings as well as flooring surface, which will be expecting the demand of stone & tile adhesive and sealants market.

Stone and Tile Adhesives & Sealants Market Challenges

Lack of Awareness Regarding Usage of Ceramic Tiles

Ceramic is cold when used as a flooring material in the residential & commercial sector and cannot be comfortable during wintertime in colder climates. It has high density of ceramic; it takes long time to heat or cool than other flooring materials. In addition, ceramic requires caulking where the ceramic meets another construction material in wet areas and the caulk will need to be replaced after long time due to cracking. Thus, they are unable to take heavy loads on their surface. Hence, a lack of awareness regarding ceramic tiles may be hamper the market of stone and tile adhesive & sealants market.

Stone and Tile Adhesives & Sealants Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the stone and tile adhesives & sealants market. Major players in the stone and tile adhesives & sealants market top 10 companies are:

1. Henkel AG & Co. KGaA
2. H.B. Fuller Company
3. Arkema Group (Bostik SA)
4. BASF SE
5. 3M
6. AKEMI
7. Fosroc, Inc.
8. Ardex Endura
9. LATICRETE International Inc.
10. DowDuPont and among others.

Acquisitions/Technology Launches

In February 2020, Henkel has officially inaugurated its new production facility in Kurkumbh, India, near Pune. With a total investment of about USD 57 million, the business unit aims to serve the growing demand of Indian industries for high-performance solutions in adhesives, sealants and surface treatment products. Designed as a smart factory, the new plant enables a wide range of Industry 4.0 operations and meets the highest standards for sustainability. 

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