Floor Coatings Market Research Report- Forecast to 2030

Floor Coatings Market Information - by Resin Types (Epoxy, Polyaspartic, Polyurethane and others), by Coating Component (1K,2K,3K and others), by End User (Residential, Commercial, and Industrial) and by Region - Forecast to 2030

ID: MRFR/CnM/1648-HCR | February 2021 | Region: Global | 130 pages

Floor Coatings Market

Floor Coatings Market is estimated to reach 5.5 million in 2022 registering CAGR of 7.2% during the forecasted period

Segmentation

By Resin Types Epoxy Polyaspartic Polyurethane and others
By End User Residential Commercial Industrial

Key Players

  • BASF SE (Germany)
  • Sherwin Williams Company Inc (US)
  • The Dow Chemical Company (US)
  • Akzo Nobel NV (Netherlands)
  • The Arkema Group(France)
  • Asian Paints PPG Pvt. Ltd (India)
  • Nora Systems Inc.(Germany)
  • RPM Internationals Inc.(US)
  • Maris Polymers (Europe)
  • Tambour (Israel) and others

Drivers

  • Increased globalization and rapid industrialization
  • Rapid economic growth owing to changes in industry trends
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Floor Coatings Market Overview


Floor Coatings Market is estimated to reach XX million in 2022 registering CAGR of 7.2% during the forecasted period 2027. The market is segmented into types, coating component and end user. Based on resin type, floor coating market is segment into epoxy, polyaspartic, polyurethane and others.


Increased globalization and rapid industrialization is key factors in restructuring floor coating industry. Floor coatings is seen a rapid economic growth owing to changes in industry trends. Floor coatings are applied on concrete, tiles, wooden floors etc. so that it acts as defensive layer to prevent moisture damage, corrosion resistant, thermal shocks and chemical attacks. The main aspect of floor coatings is the long shelf life of the floor coatings along with providing decorative aspects, protection, cost effective and low maintenance. According to different varieties of floor coatings available in market, each type possesses various characteristics and are used for different purposes across the industry.


Floor coatings are made of one or more resins which are mixed with powder, decorative materials and other aggregates to provide smooth texture and aesthetic appearance. Epoxy floor coatings dominates market segment in terms of volume with contribution of 40% of market share of global floor coatings market. These is due to factors such as high wear & tear resistance, chemical resistance, low shrinkage and high durability. Polyaspartic is type of polyurea that are two-part system mixed with catalyst to create self-hardening material. They possess special characteristics such as low viscosity equivalent to water, bubble free surface even in high humidity, UV stable and no volatile organic compound (VOC) content. Thus, fastest curing time and high abrasion resistance than epoxy has fueled the demand for polyaspartic based floor coatings in past years.  


Study Objectives of Floor Coatings Market:



  • To study market overview of Floor Coatings.

  • To estimate market size by types, by application and region.

  • To provide insights about market drivers, restrains and opportunities of Floor Coatings market.

  • To provide geographical market analysis and outlook for North America, Europe, Asia, and rest of the world (ROW).

  • To analyze the global Floor Coatings market based on various factors like supply chain analysis, Porters Five Force analysis etc.

  • To provide strategic profiling of key players in the market, broadly analyzing their core competencies.

  • To evaluate competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Floor Coatings


Market Segmentation


According to coating component, floor coating is divided into 1K, 2K, 3K and others. 1K or single component contains low level of VOC and vaporizes when exposed to air. It does not require hardener, activator or catalyst. Thus, single component is eco-friendly is fastest growing segment owing to government policies regarding usage of eco-friendly products. 2K or “two components” is widely used with hardener, activator or catalyst to prevent it from chemicals, weather and UV rays. Water based 2K polyurethane systems provides curing and hardness which is top preferred choice in residential, commercial and industrial applications.


Based on end user, floor coatings in segmented into residential, commercial and industrial. The growing construction and infrastructure development in countries like china and India has boosted the demand for floor coatings in coming years. Increasing demand from multinational companies for decorative coatings is expected to boost the demand for floor coatings in near future. Innovation in floor coatings is major opportunity for many manufacturers to increase their production capacity.


Key Players


With innovation in floor coating, manufacturer in developed and developing regions are looking out for expansion in capacities. The key players of global Floor Coatings market are BASF SE (Germany), Sherwin Williams Company Inc (US), The Dow Chemical Company (US), Akzo Nobel NV (Netherlands), The Arkema Group(France), Asian Paints PPG Pvt. Ltd (India), Nora Systems Inc.(Germany), RPM Internationals Inc.(US), Maris Polymers (Europe), Tambour (Israel) and others.


Regional Analysis


Geographically, Asia-Pacific is largest consumer of floor coatings with more than 35% of market share in global floor coatings market. Huge investment in building and construction along with infrastructure development has fueled the demand for floor coatings in coming years. China is major revenue generating country due to growing construction activities which leads to decorative floor coating in various industries. Europe & North America accounts for second and third market share respectively.


The report for global Floor Coatings market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report also provides details information and strategies of the top key players in the industry along with giving detail about different market segments and regions.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   7.2% (2022–2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Resin Types, By End User and By Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Sherwin Williams Company Inc (US), The Dow Chemical Company (US), Akzo Nobel NV (Netherlands), The Arkema Group(France), Asian Paints PPG Pvt. Ltd (India), Nora Systems Inc.(Germany), RPM Internationals Inc.(US), Maris Polymers (Europe), Tambour (Israel) and others
  Key Market Opportunities

  • Decorative aspects
  • Protection
  • Cost Effective
  • Low maintenance.
  •   Key Market Drivers

  • Increased globalization and rapid industrialization
  • Rapid economic growth owing to changes in industry trends


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    Frequently Asked Questions (FAQ) :

    The floor coatings market is predicted to grow at a 7.2% CAGR between 2020-2027.

    Notable players profiled in the floor coatings market include Tambour (Israel), Maris Polymers (Europe), RPM Internationals Inc (US), Nora Systems Inc. (Germany), Asian Paints PPG Pvt. Ltd (India), The Arkema Group (France), Akzo Nobel NV (Netherlands), The Dow Chemical Company (US), Sherwin Williams Company Inc (US), and BASF SE (Germany).

    The APAC region is predicted to have the lions share in the market during the forecast period for infrastructure development and huge investments in building & construction.

    Rapid industrialization, rapid economic growth, availability of different varieties, and various benefits such as ease of maintenance, long shelf life, and easy moving are adding to the growth of the floor coatings market.

    Floor coatings are in great demand for the multiple benefits that it offers such as low maintenance, cost-effective, waterproofing, slip resistance, among others.