Floor Coatings Market is Projected to Gain USD 8.7 billion 2031, Growing at a 6.3% CAGR: Transparency Market Research Inc.

Wilmington, Delaware, United States, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global floor coating market was estimated to have acquired US$ 4.5 billion in 2020. It is anticipated to register a 6.3% CAGR from 2021 to 2031 and by 2031; the market is likely to gain US$ 8.7 billion.  

The use of digital technologies in floor design and customization, including 3D printing and digital imaging, is a growing trend that enhances the visual appeal of floor coatings.

The trend towards developing floor coatings with multiple functionalities, such as antimicrobial properties, anti-slip features, and UV resistance, addresses a broader range of customer needs.

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The ongoing emphasis on hygiene and health in various environments, including healthcare facilities and public spaces, is driving the demand for floor coatings with anti-microbial properties.

The trend towards offering customizable and personalized floor coating solutions allows consumers to have a unique and tailored flooring experience.

Global Floor Coating Market: Key Players  

The following companies are well known participants in the global floor coating market: 

• Steward Advanced Floors Inc.
• Akzo Nobel N.V.
• ARKEMA S.A.
• ASIAN PAINTS LTD.
• BERGER PAINTS INDIA LIMITED
• DUPONT
• FLOWCRETE INDIA PVT LTD.
• 3M
• INDIGO PAINTS
• KANSAI NEROLAC PAINTS LIMITED
• SIKA INDUSTRIES LTD
• Jemkon Pvt. Ltd
• Dr. Cipy- Specialized Floor Coatings

Key Findings of Market Report  

• The expansion of industries such as automotive, aerospace, healthcare, and manufacturing often leads to an increased demand for specialized floor coatings tailored to specific requirements.
• The development of advanced, high performance coatings that offer superior durability, chemical resistance, and other desirable properties can create new opportunities in the market.
• The expansion of e-commerce and the need for advanced warehouse facilities create opportunities for specialized floor coatings that can withstand heavy traffic, abrasion, and impact in distribution centers.
• Innovations in application methods, such as the development of easier to use, quick curing coatings, can influence the market by reducing application time and costs.

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Trends for Floor Coating Market 

• Growth in construction and infrastructure development, both residential and commercial, typically drives the demand for floor coatings.
• There is an increasing awareness among consumers and industries about the importance of floor protection, which includes factors such as durability, chemical resistance, and ease of maintenance.
• The ongoing global trend of industrialization and urbanization often leads to the construction of industrial facilities and commercial spaces, creating a demand for protective floor coatings.
• A growing interest in decorative and aesthetically pleasing flooring solutions, including epoxy and polyurethane coatings, is expected to augment the market growth.

Global Market for Floor Coating: Regional Outlook 

Various reasons are propelling the growth of the floor coating market in different regions. The regions include,

Asia Pacific

• The growth of manufacturing activities in Asia Pacific, fueled by factors like favorable government policies and a large consumer base, is boosting the demand for industrial floor coatings.
• The market for specialized floor coatings is expanding, as awareness of the importance of floor protection increases, especially in industries like automotive and electronics manufacturing.

North America

• North America is often at the forefront of technological advancements. The adoption of advanced floor coating technologies, such as high performance epoxy coatings, is contributing to market growth.
• The growth of healthcare infrastructure, coupled with an increased focus on patient safety, is creating opportunities for floor coatings with anti-microbial and easy to clean properties.

Few of key developments by the players in this market are: 

Global Floor Coating 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 and Retail Outlets)

• Region

• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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