Sweden To Account For 35% Share In Nordic Floor Paints Market
Key Takeaways from Market Study
• Epoxies account for a prominent share in the market and are a highly preferred resin type in floor paints.
• Sweden is anticipated to account for a key share of 35% in the Nordic market for floor paints.
• Growing population coupled with rising industrialization are expected to drive the sales outlook of floor paints over the coming years.
• Demand for floor paints for cement and mortar purposes is anticipated to expand at a CAGR of 2.7% over the next ten years.
• Growing food, chemical processing, and manufacturing industries are propelling demand for floor paints in the industrial segment.
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The Nordic market for floor paints has been identified as a moderately consolidated space due to the dominance of some key market participants. Some of the leading players included in the report, such as PPG Industries, Sherwin Williams, Sika AG, Tikkurila Oyj, RPM International Inc., Jotun Group, AkzoNobel N.V., Hempel A/S, TEKNOS, Hagmans Nordic AB, Axalta Coating systems, Rust-Oleum, Nor-Maali, Fosroc Inc., and Technima Group, are anticipated to create tough a competitive environment in across Nordic countries.
Over the forecast period, rapid industrialization as well as expansion of infrastructure and manufacturing sectors fueled by private and public sector investments are expected to have a favorable influence on the industry of floor paints. The need for floor paints is driven by rise in demand to preserve concrete floors in industrial and commercial buildings. Furthermore, increasingly stringent environmental regulations have pushed the adoption of eco-friendly paint solutions and water-borne coatings that are less toxic, and at the same time offer excellent surface properties and also make excellent primers. Several key players are further investing a significant portion of their revenue in research and development to develop new products and solutions for long-term sustainability.
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