Floor Coatings Industry Expected to increase at CAGR of 7.2% by the end of 2022 | Market Share, Size, Trends, Features, Future Opportunities, Key Players and more
Floor Coatings Market Share, Floor Coatings Market Size, Floor Coatings Market Forecast, Floor Coatings Market Analysis
Floor Coatings Market is growing rapidly post 2018 as the market is boosted due to growing demand of decorative floor and construction activities across the globe. The market size is expected to increase at CAGR of 7.2% by the end of 2022.
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.
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Floor Coatings Market Key Players:
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.
Floor Coatings Market Segmentation:
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.
Floor Coatings Market 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.
Floor Coatings Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Floor Coatings Market
Floor Coatings Market Table of Content to be Continue………
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