Floor Coatings Market Size, Share & Industry Report 2022 - BASF SE, Sherwin Williams Company Inc, The Dow Chemical Company, Akzo Nobel NV, The Arkema Group, Asian Paints PPG Pvt. Ltd, Nora Systems, RPM Internationals, Maris Polymers, Tambour

Market Synopsis of Global Floor Coatings Market

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.

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The Global Floor Coating Market is estimated to reach XX million in 2022 registering CAGR of 7.2% during the forecasted period 2022. 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. 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.

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.

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.

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.

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