Floor Coatings Market Key Drivers, Business Insights, Trends And Forecast To 2026 Akzo Nobel N.V., ArmorPoxy, Asian PPG Industries Limited, BASF SE, Epoxy- Coat
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Global floor coatings market is expected to rise to an estimated value of USD 3353.94 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Increasing globalization and rapid growth in economy is the factor for the growth of this market.
Floor coating is a protective layer which is applied on the surface of the floor. They are mainly applied on the application where the corrosion or heavy metal wear is expected. Material such as thermoset, acrylic, epoxy, polyaspartic, polyurethane and others are used in the floor coating. There main function is to increase the shelf life of the surface by protecting them. Decorative coating, cold room floor coating, and non- slip coatings are some of the common type of the floor coatings. These coatings are widely used in residences, garage, warehouses, chemical industries, retail outlets and others.
• Rising awareness about the benefits of floor coatings is the factor driving the market growth
• Growing house construction activities will also propel the market growth
• Increasing urbanization and industrialization is also contributing as a factor for growth of this market
• Rising demand for floor coating from food industry will also accelerate the market growth
• Strict regulation associated with the VOCs released for floor coating will hamper the market growth
• Limitation of the epoxy resin will also restrict the growth of this market
Segmentation: Global Floor Coatings Market
By Binder Type
• Methyl Methacrylate
By Coating Component
• Two- Component
• Three- Component
By Floor Structure
• Decorative Coatings
• Non-Slip Coatings
• Cold Room Floor Coatings
Key Developments in the Market:
• In January 2018, Pidilite announced that they have acquired 70% of their CIPY Polyurethanes Pvt. Ltd so that they can expand them in the floor coatings and resin flooring market. They can use thetechnologies of the CIPY so that they can strengthen their position in the market and will be able to meet the need and requirement of the people
• In January 2017, Innovative chemical products company announced that they have acquired Rock-Tred Corp so that they can expand their floor coating portfolio. This acquisition will help the company to provide best solutions to their contractor in North America and will allow them to produce floor coating product, flexible membranes, wall coatings and others
Global floor coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of floor coatings market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors:
Few of the major competitors currently working in the global floor coatings market are Akzo Nobel N.V., ArmorPoxy, Asian PPG Industries Limited, BASF SE, Epoxy- Coat, Henkel AG & Co.KGaA, JOTUN, Kansai Nerolac Paints Limited, LATICRETE International, Inc., MAPEI S.p.A., Maris Polymers S.A., NIPSEA GROUP, PPG Industries, Inc., Sika AG, StoCretec GmbH, Tambour, Teknos Group Oy, The Sherwin-Williams Company, Tikkurila among others.
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