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Tile & Stone Adhesive Market: Drivers and Restraints
The tile & stone adhesive market is expected to expand at a relatively high rate due to the growth in construction and manufacturing sectors in developing regions such as Asia Pacific. Demand for tile & stone adhesive is anticipated to increase in the next few years, led by the rise in repairs & rehabilitation activities in the construction industry and new construction of buildings. Many newly developed products give better performance and results. However, lower profit margins due to the usage of low-cost chemicals to reduce the overall construction cost are expected to restrain the market. Furthermore, high value and performance products have hampered the demand for tile and stone adhesives; these are used merely in premium construction projects. Price sensitive environment, low entry barriers for new entrants, and low awareness about good quality construction materials are estimated to adversely affect the tile & stone adhesive market in the near future.
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Tile & Stone Adhesive Market: Segmentation
The tile & stone adhesive market can be segmented based on product type into:
- Cementitious adhesives
- Epoxy adhesives
- Polymer based adhesives
Cementitious adhesives are generally used in construction activities owing to their lower price. They are primarily used as ceramic floor tile adhesives and wall tile adhesives. Polymer modified cements and water resistant cements are appropriate for both internal and external usage. Epoxy resins are cold-curing adhesives that create high-strength durable bonds. They are resilient to water, oils, alkalis, dilute acids, and may be used externally or internally. Polymer based adhesives are suitable for fitting wall tiles in wet and damp conditions such as swimming pools and domestic showers.
The tile & stone adhesive market can be segmented based on formulation type into:
- Normal setting adhesives
- Fast setting adhesives
In terms of application, the tile & stone adhesive market can be segmented into:
- Natural & agglomerated stones
Tile & Stone Adhesive Market: Region-wise outlook
Based on geography, the global tile & stone adhesive market can be classified into five key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, Asia Pacific accounts for the major share of the tile & adhesive market across the globe. The tile & stone adhesive market in the region is poised to expand at a fast pace in the near future. Rapid growth in the urban housing sector in Asia Pacific is the key factor driving the tile & stone adhesive market. Product innovation, low cost of products, rise in adoption of modern techniques, and increase in infrastructure investments are anticipated to provide immense growth opportunities to the tile & stone adhesive market in developing regions such as Asia Pacific.
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