The global mastic remover market was valued at $531.6 million in 2021, and is projected to reach $990.6 million by 2031, growing at a CAGR of 6.4% from 2022 to 2031.
Mastic removers are specially formulated compounds used for removing asbestos/black mastic, vinyl glue, ceramic mastic, and traditional carpet adhesive from concrete and vinyl floorings. They safely remove most mastics and adhesives in a single application. The chemical agent present in mastic remover allows it to penetrate through the various layers of mastics and adhesives on a surface, so that it is absorbed into the bottom layers ensuring effective removal and a cleaner surface.
Increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India, have led the building & construction sector to witness a significant growth where mastic removers are widely used to remove rubber type mastics, floor tile adhesives, as well as, tar, paint and motor oil stains from masonry and concrete surfaces. This is projected to boost the growth of the mastic remover market. In addition, factors such as increase in demand for various consumer goods, rise in investment, policy support, and competitive advantage has surged the establishment of manufacturing industries in both developed and developing economies, where mastic removers are used to remove sheet vinyl mastics, tile mastics, carpet mastics, and asbestos mastics in different industrial facilities. This is projected to propel the growth of the mastic remover market during the forecast period.
However, volatility in prices of raw materials used for producing mastic removers is expected to restrain the manufacturers with less investment potential to enter into the mastic remover market. This factor is expected to hamper the growth of the mastic remover market during the forecast period.
On the contrary, factors such as growth in concentration of manufacturers, availability of feedstock at reduced prices, and arrival of local players have led manufacturers to offer mastic remover at low prices. This is anticipated to increase sales of mastic remover in several end-use sectors; thus creating lucrative opportunities for the market.
The mastic remover market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into solvent-based and soy-based. On the basis of application, it is divided into concrete, vinyl flooring, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global mastic remover market profiles leading players that include Abatement Technologies, Abatix Corp, American Building Restoration Products, Inc., Aramsco, ArmorPoxy, Citrus Depot, Franmar, ILC Dover LP, Jon-Don, LLC, Mast Away Mastic Remover, Norkan Inc., Quest Safety Products, Inc., Soy Technologies, LLC, SureCrete Design Products, and Twin Chemicals, Inc. The global mastic remover market report provides in-depth competitive analysis as well as profiles of these major players.
Mastic removers are specially formulated compounds used for removing asbestos/black mastic, vinyl glue, ceramic mastic, and traditional carpet adhesive from concrete and vinyl floorings. They safely remove most mastics and adhesives in a single application. The chemical agent present in mastic remover allows it to penetrate through the various layers of mastics and adhesives on a surface, so that it is absorbed into the bottom layers ensuring effective removal and a cleaner surface.
Increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India, have led the building & construction sector to witness a significant growth where mastic removers are widely used to remove rubber type mastics, floor tile adhesives, as well as, tar, paint and motor oil stains from masonry and concrete surfaces. This is projected to boost the growth of the mastic remover market. In addition, factors such as increase in demand for various consumer goods, rise in investment, policy support, and competitive advantage has surged the establishment of manufacturing industries in both developed and developing economies, where mastic removers are used to remove sheet vinyl mastics, tile mastics, carpet mastics, and asbestos mastics in different industrial facilities. This is projected to propel the growth of the mastic remover market during the forecast period.
However, volatility in prices of raw materials used for producing mastic removers is expected to restrain the manufacturers with less investment potential to enter into the mastic remover market. This factor is expected to hamper the growth of the mastic remover market during the forecast period.
On the contrary, factors such as growth in concentration of manufacturers, availability of feedstock at reduced prices, and arrival of local players have led manufacturers to offer mastic remover at low prices. This is anticipated to increase sales of mastic remover in several end-use sectors; thus creating lucrative opportunities for the market.
The mastic remover market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into solvent-based and soy-based. On the basis of application, it is divided into concrete, vinyl flooring, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global mastic remover market profiles leading players that include Abatement Technologies, Abatix Corp, American Building Restoration Products, Inc., Aramsco, ArmorPoxy, Citrus Depot, Franmar, ILC Dover LP, Jon-Don, LLC, Mast Away Mastic Remover, Norkan Inc., Quest Safety Products, Inc., Soy Technologies, LLC, SureCrete Design Products, and Twin Chemicals, Inc. The global mastic remover market report provides in-depth competitive analysis as well as profiles of these major players.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mastic remover market analysis from 2021 to 2031 to identify the prevailing mastic remover market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the mastic remover market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global mastic remover market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Solvent Based
- Soy Based
By Application
- Concrete
- Vinyl Flooring
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Abatement Technologies
- Abatix Corp
- American Building Restoration Products, Inc
- Aramsco
- ArmorPoxy
- Citrus Depot
- Franmar
- ILC Dover LP
- Jon-Don, LLC
- Mast Away Mastic Remover
- Norkan Inc
- Quest Safety Products, Inc.
- Soy Technologies, LLC
- SureCrete Design Products
- Twin Chemicals, Inc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MASTIC REMOVER MARKET, BY TYPE
CHAPTER 5: MASTIC REMOVER MARKET, BY APPLICATION
CHAPTER 6: MASTIC REMOVER MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Mastic Remover Market," the mastic remover market was valued at $531.6 million in 2021, and is estimated to reach $990.6 million by 2031, growing at a CAGR of 6.4% from 2022 to 2031.Mastic remover is a substance intended to break down and remove mastics, layered adhesives, and glues from surfaces. It is a highly efficient and safe biodegradable formulation that is ideal for use in occupied areas such as post offices, schools, hospitals and other public places where safety is important.
An increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India, has led the building & construction sector to witness significant growth where mastic removers cling to and dissolve rubber-type mastics, floor tile adhesives, as well as, tar, paint and motor oil stains from masonry and concrete surfaces. In addition, sustainable economic growth coupled with an increase in demand for consumer goods has led the industrial manufacturing sector to witness a significant increase in demand where mastic remover is widely used for corrosion protection applications in underhood parts, engine components, and the interior of containers, and storage vessels. These factors are projected to contribute to the global market growth.
However, mastic removers are manufactured by combining several raw materials such as soybean, asphalt, latex dye formulations, and others. The prices of these materials have increased, which in turn has led manufacturers, wholesalers and store owners to pass on the price increase to the final end-users. This factor may hamper the growth of the mastic remover market during the forecast period.
On the contrary, mastic removers are safe, effective, and environmental-friendly formulations widely used for removing all latex and acrylic carpet adhesives in various end-use sectors including building & construction, hospitals, schools, industries, and others. Rise in -environmental awareness has surged the demand for various sustainable products in both developed and developing economies. Furthermore, an increase in government regulations and stringent policies have led several end-use sectors to become linear toward using environmental-friendly products. This is anticipated to increase the sales of mastic removers; thus creating lucrative opportunities for the market.
The mastic remover market is segmented on the basis of type, application, and region. By type, the market is segregated into solvent-based and soy-based. The soy-based segment dominated the global market in terms of revenue in 2021, with 69.34% of the total share. This is attributed to the fact that soy-based mastic removers are biodegradable formulations used to remove black asphalt-based mastics, yellow carpet adhesives, grease, lubricants, inks and other petroleum-based residues. They are ideal for projects where a biodegradable with no odor product is preferred. This has surged the popularity of soy-based mastic removers among various end-use sectors.
By application, the market is divided into concrete, vinyl flooring, and others. The concrete segment dominated the global market in terms of revenue in 2021, with 52.52% of the total share. This is attributed to the growing population, which in turn has led the building & construction sector to witness significant growth, owing to an increase in construction of residential and commercial facilities, where mastic remover is widely used to remove black asphalt-based mastics, yellow carpet adhesives, grease, lubricants, inks and other construction adhesives. For instance, according to a report published by the U.S. Census Bureau, the total construction spending during February 2022 was estimated at a seasonally adjusted annual rate of $1,704.4 billion, which is 11.2% above February 2021 estimate of $1,533.3 billion. This factor has fueled the demand for mastic removers for concrete applications.
Region-wise, the mastic remover market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific mastic remover market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major mastic remover market share in 2021, owing to the rise in building & construction, industrial manufacturing, and other sectors that have enhanced demand for mastic remover in the Asia-Pacific region.
China's industrial manufacturing sector is increasing rapidly, which in turn has enhanced the performance of the mastic remover market in the region. According to a report published by the United Nations Statistics Division, China witnessed around 28.7% of the global manufacturing output for various consumer goods in 2019. Also, countries such as India and Australia are witnessing a rapid increase in building & construction sectors where mastic removers are employed to remove stubborn coatings from concrete such as coating, carpet or tile adhesive, thin-set and thin mil coatings like urethane or paint.
Key players operating in the global mastic remover market include Abatement Technologies, Abatix Corp, American Building Restoration Products, Inc., Aramsco, ArmorPoxy, Citrus Depot, Franmar, ILC Dover LP, Jon-Don, LLC, Mast Away Mastic Remover, Norkan Inc., Quest Safety Products, Inc., Soy Technologies, LLC, SureCrete Design Products, and Twin Chemicals, Inc.
COVID-19 Analysis
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The mastic remover market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the building & construction, industrial manufacturing, and other end-use sectors. The increasing risk of infection among the workforce has resulted in delayed construction projects amid the COVID-19 scenario. For instance, according to an article published by CNA, the Construction Industry Joint Committee (CIJC) has said that the shortage of manpower may lead to delays in construction projects attributed to workplace safety and other factors. Moreover, several sustainable product manufacturers in South East Asia and Australia have either shut down or shrank their operations which in turn have resulted in supply chain disruptions. Also, different raw materials for producing mastic removers are purchased or hired from other enterprises. The decreased purchasing potential of suppliers has also negatively impacted the market amid the COVID-19 scenario. Furthermore, the COVID-19 pandemic has led to disruptions in transportation, contractual implications problems, labor shortage, and other factors that together have led the construction sector to witness a downfall. For instance, according to a report published by the Australian Performance of Construction Index (PCI) Survey, the construction activity has dropped by 16.3 points to 21.6 points from March 20201 to August 2020.However, emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are projected to drive the growth of mastic removers used in vinyl flooring applications. For instance, according to an interim report for the 2021 Australian infrastructure plan, the Australian Construction Industry Forum (ACIF) expects the construction industry to return to pre-COVID-19 levels by 2022-23, driven by strong public investments. This is projected to boost the growth of the mastic remover market post-COVID-19 period.
Key Findings of the Study
- The soy-based segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.5% from 2022 to 2031.
- The concrete application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.7% from 2022 to 2031.
- Asia-Pacific garnered the highest share of 36.4% in 2021, in terms of revenue, growing at a CAGR of 7.4%.
Companies Mentioned
- Abatement Technologies
- Abatix Corp
- American Building Restoration Products, Inc
- Aramsco
- Armorpoxy
- Citrus Depot
- Franmar
- Ilc Dover Lp
- Jon-Don, LLC
- Mast Away Mastic Remover
- Norkan Inc
- Quest Safety Products, Inc.
- Soy Technologies, LLC
- Surecrete Design Products
- Twin Chemicals, Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 239 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 531.6 million |
| Forecasted Market Value ( USD | $ 990.6 million |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
