PUBLISHER: Grand View Research | PRODUCT CODE: 1530100
PUBLISHER: Grand View Research | PRODUCT CODE: 1530100
The North America subfloor adhesives market size is expected to reach USD 1,607.0 million by 2030, as per the new report by Grand View Research, Inc. The market is also expected to grow at a CAGR of 10.1% from 2024 to 2030. The demand for subfloor adhesives in the North America market is influenced by several factors, including infrastructure development and construction projects. These factors contribute to the growth and expansion of the construction industry, which in turn drives the demand for subfloor adhesives.
Infrastructure development projects, such as the construction of airports, educational institutions, hospitals, industrial facilities, and water infrastructure, require the use of adhesives in various applications, including flooring installation, laminating, and roofing. The investment in infrastructure projects, both new and existing, leads to an increased demand for construction adhesives.
The construction industry plays a significant role in driving the demand for subfloor adhesives. The growth of the residential and non-residential sectors, along with government investments in infrastructure projects, contributes to the rising demand for adhesives. Adhesives are essential tools in the construction site and are used in various applications, including bonding plywood and OSB to concrete. The increasing construction activities and the development of new projects create a need for reliable and durable adhesives.
Furthermore, the escalating prices of raw materials significantly affect the industry's operations. The consistent increase in raw material costs creates a complex challenge that reverberates across the value chain, influencing manufacturers, distributors, and end-users. The volatility in the production cost of subfloor adhesives, driven by the high cost of raw materials such as oil, acts as a major restraint for the overall growth of the market. Fluctuations in raw material prices can impact the profitability and pricing strategies of manufacturers, potentially hindering subfloor adhesives market growth.