The market size for tile adhesives & stone adhesives is projected to reach USD 4.10 billion by 2021, registering a CAGR of 9.4% during the forecast period. The increased demand for residential projects, rise in awareness about benefits of tile adhesives, and increase in the use of complex substrates such as fiberboard and rubber panels are some of the factors influencing the growth of the tile adhesives and stone adhesives market.
Innovations in the tile industry such as thin porcelain tiles used for bathrooms, kitchens and rise in demand for exotic stones such as marble and granite in high-end residential projects is expected to drive the tile adhesives & stone adhesives market. In addition to this, stringent regulations related to the manufacturing process of tiles have led manufacturers to invest heavily in R&D of environmentally friendly tiling solutions.
The demand for tile adhesives & stone adhesives is expected to witness significant growth in countries such as Russia, Qatar, Saudi Arabia, and Vietnam, as these countries have started focusing on affordable residential housing projects for the low- and medium-income families. Residential is expected to be the fastest-growing application of the tile & stone adhesives market. As a result, major players in the tile adhesives & stone adhesives market such as Mapei (Italy), Saint-Gobain Weber (France), and Laticrete International (U.S.) have rolled out new cost-effective products, especially for the Middle East & Africa market.
