Press release
Global Floor Paints Market Growth Forecast and Analysis 2023-2025: CAGR: 5.2%
Floor Paints Market
Floor paints are coatings applied on floors to protect them from damage, enhance their appearance, and improve their durability. The global floor paints market has been witnessing significant growth over the past few years, driven by factors such as rising construction activities, increasing demand for durable and aesthetically appealing flooring solutions, and growing awareness about the benefits of floor coatings. This report provides an overview of the floor paints market, including its size, growth prospects, key drivers and challenges, and competitive landscape.
Market Size:
According to the latest market research report, the global floor paints market was valued at USD 2.5 billion in 2017 and is projected to reach USD 3.6 billion by 2025, growing at a CAGR of 5.2% during the forecast period.
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Drivers, Restraints, and Challenges:
Drivers:
1. Growing demand for floor paints from the construction industry due to the increase in construction activities across the globe.
2. Advancements in technology and innovations in floor paints leading to the development of eco-friendly and high-performance paints.
3. Increase in the number of renovation projects in the residential and commercial sectors, driving the demand for floor paints.
Restraints:
1. Fluctuating raw material prices leading to a rise in the cost of production, which may hinder the growth of the floor paints market.
2. Environmental concerns related to the harmful chemicals present in floor paints, leading to strict regulations on the usage of such paints.
3. Limited availability of skilled labor for the application of floor paints, leading to a shortage of skilled professionals in the market.
Challenges:
1. Developing floor paints that are safe for the environment and human health while maintaining high-performance standards.
2. Educating consumers about the benefits of advanced floor paints and their suitability for different applications.
3. Meeting the demand for customized floor paints to cater to the varied needs of customers.
Segmentation:
By binder type
• Epoxy
• Polyurethane
• Latex
• Alkyd (oil)
• Thermoplastic
By Coating component
• 1K ( single component)
• 2K (Two component)
• 3K (Three component)
• 4k (four component)
By Floor Structure
• Wood
• Mortar
• Terrazzo
• Others
By end use
• Residential buildings and garages
• commercial buildings and garages
• Industrial Premises
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Key Players:
• Sherwin-Williams
• PPG Industries
• Axalta Coating Systems
• Asian Paints
• Tambour
• Akzo Nobel
• BASF
• Roto Polymers
• Maris Polymers
• RPM International
• ArmorPoxy
• Milliken & Company
• Florock Polyme
This report covers a thorough analysis of:
• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain
Regional analysis includes:
• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)
Report highlights:
• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint
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About us:The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.
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