Floor Coatings Market: By Resin Type, By Coating Component, Two-component, Three-component and Other Components, By End User and Geography
Floor Coatings Market was valued at US$ 8,935.43 million in 2022, and is poised to grow at a CAGR of 5.5% from 2023-2029. Some of the key factors propelling the market growth are rising globalization and rapid development in industrialization, increasing construction business in countries such as India and China and new technological advancements in material handling equipment’s. However, factors such as rise in raw material prices and strict regulations imposed on floor coatings are hindering the market growth. Because of the building industry's recession, increasing demand for floor coatings will be more difficult in 2020. The economic downturn produced by the COVID-19 outbreak is likely to cause a period of low growth in building and construction throughout significant regions over the following two years. The commercial building industry, in particular, has seen a significant drop as a result of the current situation. Lower demand in end-user sectors, such as the construction industry's accelerated growth decrease and a slowdown in core industries, had a cascade effect on other industries, resulting in a drop in overall demand for floor coatings. Housing development activity in Asia-Pacific economies are projected to pick up in the short future. VOCs generated by floor coatings, on the other hand, are subject to stringent controls. The industrial sector's need for floor coatings dominated the market studied, and it is predicted to rise over the projection period due to rising demand from the chemical industry. Polyaspartic coatings' promising performance is likely to present an opportunity in the future.
Study Period
2024-2030Base Year
2023CAGR
5.5%Largest Market
Asia-PacificFastest Growing Market
North America
Floor coatings are an important facet of the construction industry. These are used in a broad range of floor coating applications. The demand for concrete floor coatings is primarily led by growth in the construction industry and increasing awareness about floor coatings globally. These coatings also offer different options related to styles and colors, thus increasing their adoption in houses, hotels, offices and warehouses. Use of floor coatings helps in the reduction of cracking of concrete and maintenance cost. Use of floor coatings help clean the floors easily and make manufacturing units, factories, and offices attractive delivering lustrous appearance on the floor. They are used across educational institutes, restaurants, aviation & transportation, medical & healthcare facilities, and commercial retail stores.
Asia Pacific accounted for larger revenue share in global floor coatings market with considerable CAGR. XX. This region is one of the key markets for floor coatings production. Presence of various heavy industry companies in Japan and China has propelled the demand for this market particularly in APAC region. On the other hand, North America has witnessed steady growth in the market due to huge infrastructural development and technological advancements.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2022 |
US$ 8,935.43 million |
|
Market CAGR |
5.5% |
|
By Resin Type |
|
|
By Coating Component |
|
|
By Coating Component |
|
|
By Region |
|
Download Free Sample Report
The key segments covered in the floor coatings market are: by resin type, coating component, end-user and geography
The floor coatings market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The floor coatings market key players are: BASF SE, Tambour, DoW Chemical Company, Akzonobel N.V, Arkena Group
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
Download Free Sample
