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3. ARDEX Group (Germany) and Sika AG (Switzerland) are the Key Player in the Tile Adhesives & Stone Adhesives Market

The global tile & stone adhesives market size is projected to grow from USD 4.7 billion in 2022 to USD 7.0 billion by 2027, at a CAGR of 8.0%. The increasing demand for tile & stone adhesives from end uses, such as residential, commercial and institutional, drives the market. Demand for these adhesives is encouraged by many companies to formulate different developmental strategies in the tile & stone adhesives market to expand their footprint in the market. The companies have adopted various strategies, such as investment & expansion, merger & acquisition, new product launch, and joint venture to increase their global presence and maintain sustained growth in the tile & stone adhesives market.

Tile & stone adhesives find end uses in residential, commercial and institutional. The residential accounted for the major share of the tile & stone adhesives market in 2021. The growth is due to higher yields, coupled with less volatility in residential construction as compared to other end uses. The use of these adhesives in residential applications is attributed to the benefits offered by them, such as increased strength, excellent quality of finish, improved tensile strength, aesthetics, improved productivity, and reduced manufacturing costs.

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The tile & stone adhesives market in Asia Pacific is forecasted to register the highest CAGR, in terms of value, between 2022 and 2027. The growth is attributed to increasing consumption of tile & stone adhesives, rapid modernization, and urbanization in different countries. High industrial growth is witnessed in Japan, China, South Korea, and India, among other countries. Mega infrastructure repair projects such as those of bridges, pipelines, public buildings, and water structures, among other projects, have propelled the demand for tile & stone adhesives across the region.

There are various small, medium, and large players operating in the market. Some of the major market players include ARDEX Group (Germany), Terraco Group (UAE), Sika AG (Switzerland), Saint-Gobain Weber (France), H.B. Fuller (US), Mapei S.p.A (Italy), Fosroc International Limited (UK), Pidilite Industries Limited (India), Laticrete International, Inc. (US), and Arkema (Bostik) (France). They have adopted various developmental strategies such as investment & expansions, new product launches, merger & acquisitions and joint ventures to increase share in the market.

ARDEX Group is a key player in the tile & stone adhesives market. The ARDEX Group (ARDEX) is one of the leading solution providers of specialist high-performance building products, globally. The company manufactures a wide variety of products such as tile and stone adhesives, construction chemicals, sealants, concrete repair systems, wall smoothing products, and grout, among other products, for residential and commercial applications. It has about 18 globally renowned brands for construction applications.       

• In September 2019, ARDEX announced a joint venture with Ceramfix, a manufacturer of products for the installation of ceramic tiles, including mortars, tile adhesives, grouts, waterproofing, and accessories. This has helped ARDEX to serve customers in the Brazilian market.

Sika AG is the second most active company in the tile & stone adhesives market. It is a specialty chemical company that operates through two business segments: construction industry and industrial manufacturing. In the construction industry business segment, Sika manufactures products for roofing, waterproofing, flooring, and concrete. Tile adhesives are produced under the construction industry segment.

The company has subsidiaries and over 300 manufacturing facilities across 100 countries. It has a strong customer base and business operations in Europe, North America, Asia Pacific, South America, Africa, and the Middle East.

• In February 2022, Sika expanded in Tanzania to supply locally produced mortars and tile adhesives in addition to concrete admixtures by eliminating the need for long transport routes and ensuring rapid and reliable delivery to customers. Its site extension in Ivory Coast allows the company to double production capacities in tile adhesives and repair mortars while simultaneously increasing warehousing capacities.

Related Reports:

Tile Adhesives & Stone Adhesives Market by Chemistry (Cementitious and Epoxy), Construction Type (New Construction and Repairs & Renovation), End Use (Residential, Commercial, and Institutional) and Region - Global Forecast to 2027

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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