Kenneth Research published a report titled “U.S. Tile Adhesive Market:Demand Analysis & Opportunity Outlook 2033” which delivers detailedoverview of the U.S. tile adhesive market in terms of market segmentation bytype, and by application.
Further, for the in-depth analysis, the reportencompasses the industry growth indicators, restraints, supply and demand risk,along with detailed discussion on current and future market trends that areassociated with the growth of the market.
The U.S. tile adhesive market is expected to holda revenue of ~USD 590 million by 2033growing from a sufficient revenue in 2022. The market growth can be attributedto the growing housing units in the United States (U.S.), the rapid growth ofurbanization, growth in the number of houses bought, developments in thetourism industry, and increased disposable income.
The U.S. tile adhesive market is expected to growat a CAGR of approximately 9% from 2023-2033. The market is segmented by typeinto the cementitious adhesive, dispersion adhesive, and reactive resinadhesive. Of these, the cementitious adhesive segment is anticipated to holdthe largest market share by the end of 2033, owing to its suitability withdifferent types of tiles, increased durability, increase in the number ofhousing units, and the considerable growth in tile consumption in the U.S.
SignificantGrowth in The Number of Housing Units to Boost the Market Growth
It was estimated thatthe number of housing units in the U.S. saw a two million growth between 2020and 2021. COVID-19 affected the various industries in the U.S., just as inother parts of the world. However, despite the economic decline, the residents ofthe U.S. invested more in owning houses.
The steady growth in thenumber of houses bought for own use rather than for renting out resulted inpeople spending more on the interior design and furnishing of homes. This, inturn, is thought to have increased the consumption of tile adhesives in the U.S.
Rapid Urbanization in the United States toboost the Market Growth
More than 3570 urban areas in the U.S. have beenrecorded even as a part of the 2010 census. Additionally, significant growthhas been observed in the number of urban populations in the two decades,beginning from 2010.
Urbanization increases the need for moreinvestment in infrastructure development and construction projects. Theincreasing population in urban areas needs to be accommodated adequately,leading to the construction of more high-rise buildings, skyscrapers, and evenindividual housing units. This increased demand for dwelling spaces, along withthe popularity of tiles as a flooring material, together create a favorable situationfor the growth of the U.S. tile adhesive market.
However, alternatives of tile available in themarket and the decline in the real estate and tourism industry all over theworld as a consequence of the pandemic are expected to operate as key restraintsto the growth of the U.S. tile adhesive market over the forecast period.
This report also provides the existing competitivescenario of some of the key players of the U.S. tile adhesive market whichincludes company profiling of ABB Ltd, Ariel Corporation, Baker Hughes Company,Caterpillar, Compass Energy Systems Ltd., Eni S.p.A., Flowserve Corporation,General Electric Company, Kinder Morgan, Inc., Linde, Inc., and others. Theprofiling enfolds key information of the companies which encompasses businessoverview, products and services, key financials and recent news anddevelopments. On the whole, the report depicts detailed overview of the U.S.tile adhesive market that will help industry consultants, equipmentmanufacturers, existing players searching for expansion opportunities, newplayers searching possibilities and other stakeholders to align their marketcentric strategies according to the ongoing and expected trends in the future.
Kenneth Research is aleading service provider for strategic marketresearch and consulting.We aim to provide unbiased, unparalleled market insights and industry analysisto help industries, conglomerates and executives to take wise decisions fortheir future marketing strategy, expansion and investment etc. We believe everybusiness can expand to its new horizon, provided a right guidance at a righttime is available through strategic minds. Our out of box thinking helps ourclients to take wise decision in order to avoid future uncertainties.
Contact for more Info:
U.S.Phone: +1 313 462 0609