- Surge in utilization of epoxy, polyurethane, and polyaspartic in concrete is leading to sizable sales opportunities in the floor coatings market
ALBANY, N.Y., April 25, 2022 (GLOBE NEWSWIRE) -- The global floor coatings market is estimated to register growth at a CAGR of 6.3% during the forecast period from 2021 to 2031, notes an assessment by Transparency Market Research (TMR).
Floor coatings are being increasingly utilized in the construction industry, owing to their ability to improve floor conditions and safeguard from wear & tear. Epoxy, polyaspartic, and polyurethane are being increasingly utilized in concrete. This factor is projected to drive business prospects in the global floor coatings market in the upcoming years.
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Floor Coatings Market: Key Findings
- Floor coatings are being used in varied applications in commercial, residential, government, and industrial sectors across the globe. Hence, rising product use in varied industries is propelling the global floor coatings market. Floor coatings and paints are considered key in any house construction or renovation projects. Hence, the growth of the architecture, engineering and construction (AEC) industry is prognosticated to aid in the expansion of the floor coatings market. Moreover, the market is driven by improving spending power of people around the world.
- Floor coatings find application in various mission-critical projects, including surfaces with extreme wear and corrosion such as warehouses, chemical plants, and manufacturing floors. Demand for advanced floor coatings is rising globally in order to improve the safety of workers. Moreover, there has been a surge in the use of antiskid or non-slip epoxy floor paints in order to reduce possibilities of injury due to slips and falls, notes the study on the floor coatings market. Rapid industrialization in several developed and developing nations globally is also projected to generate lucrative prospects in the floor coatings market in the near future.
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Floor Coatings Market: Growth Boosters
- With rise in global population, there has been a surge in the number of different construction projects pertaining to residential as well as commercial purposes. This factor is fueling expansion of the construction industry, which, in turn, is propelling the floor coatings market.
- Surge in use of high-performance equipment and machinery in varied industry verticals is projected to drive the demand for efficient floor protective solutions, which is prognosticated to boost sales growth in the floor coatings market
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Floor Coatings Market: Regional Analysis
- The floor coatings market in Asia Pacific is expected to witness promising demand opportunities during the forecast period, owing to factors such as swift urbanization in several regional nations. In addition, the Asia Pacific floor coatings market is projected to gain sizable business prospects due to rise in use of epoxy as an additive in different building materials.
- The Europe floor coatings market is projected to expand at considerable pace in the forthcoming years, owing to existence of many paint manufacturing companies in the region
Floor Coatings Market: Key Players
Some of the key players profiled in the report are:
- Akzo Nobel N.V.
- Steward Advanced Floors Inc
- ASIAN PAINTS LTD.
- ARKEMA S.A.
- DUPONT
- BERGER PAINTS INDIA LIMITED
- 3M
- FLOWCRETE INDIA PVT LTD.
- KANSAI NEROLAC PAINTS LIMITED
- INDIGO PAINTS
- Jemkon Pvt. Ltd
- SIKA INDUSTRIES LTD
- Dr. Cipy- Specialized Floor Coatings
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Floor Coatings Market Segmentation
Material
- Epoxy
- Bisphenol A
- Bisphenol F
- Others (including Phenolic Novolac)
- Polyaspartic
- Solid Polyaspartic
- Hybrid Polyaspartic
- Others (including Pure Polyaspartic)
- Polyurethane
- Polyester-based
- Polyether-based
- Acrylic
- Methyl Acrylate
- Ethyl Acrylate
- Styrene Acrylate
- Others (including Butyl Acrylate)
- Others (including Thermoplastic and Thermoset)
Floor Type
- Wood
- Concrete
- Ceramic
- Others (including, Terrazzo, Rubber Flooring and Marble)
Application
- Residential
- In-house
- Basement
- Garage
- Others (including Staircase and Parking)
- Industrial
- Shop Floor
- Warehouse
- Laboratory
- Others (including Fire & Public Safety Sectors)
- Commercial
- Clinic
- Academic Institution
- Hospital
- Others (including Sport Facilities, Retail Outlets)
Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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