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.
Rapid globalisation and industrial boom in various parts of the world is supporting the growth of the market. Increased construction activities in fast-developing countries is boosting the demand for floor coatings. Such coatings are applied in a wide range of construction materials such as titles, concretes, wooden floors etc.
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
Coatings have become an important component in modern construction, they offer extra layering that helps prevent corrosion resistant, moisture damage, chemical attacks and thermal shocks. Floor coatings not only improve the overall life cycle of the floor but also create an aesthetic appeal. Construction managers and property developers are leaning towards floor coatings owing to benefits such as cost-efficiency and low maintenance. There are a variety of floor coatings available, manufacturers are actively focusing on introducing application specific floor coatings. Over the years, application of floor coating has increased sharply.
Global Floor Coatings Market: Segmental Analysis
This report includes a comprehensive segmental analysis of the global Floor Coatings Market based on coating component, resin type and end user.
By coating component, the market has been segmented into 1K, 2K, 3K and others. The 1K or single component segment is likely to witness a healthy growth during the forecast period. This is primarily owing to the low VOC emission of 1K coating component. 1K can be used without adding any activator, catalyst or hardener.
By resin type, the market has been segment into polyurethane, polyaspartic, and others. The epoxy floor coatings segment currently accounts for the lion’s share of the market. Epoxy floor coatings account for more than one-third of the total floor coatings supplied worldwide. Epoxy floor coatings have high resistance to wear tear and chemical. Also, epoxy as a chemical has high durability and low shrinkage. Meanwhile, the polyaspartic segment is expected to witness a considerable growth in the near future. Polyaspartic floor coatings have special characteristics such as self-hardening.
Some of other key characteristics of polyaspartic include zero VOC emission, UV stable, low viscosity equivalent to water and bubble free surface even in unfavourable conditions. Polyaspartic floor coatings also have high abrasion resistance and fast curing time, which makes such as coatings sought-after.
China is major revenue generating country due to growing construction activities which leads to decorative floor coating in various industries. United Floor Coatings accounts for second and third market share respectively.
By end user, the market has been segment into industrial, commercial and residential. A sharp rise in construction activities and increase focus on infrastructure development in many of the fast-developing countries in regions such as APAC, MEA and LatAm has booted the global sales of floor coatings. Rapid industrialisation and development future-ready buildings has creates tremendous market opportunities for floor coating suppliers in recent years and the trend is likely to continue beyond 2019. Product innovation is expected to remain a key area of focus for manufacturers in the years to come.
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