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Floor Coatings Market Size, Share, Floor Structure, End User, Coating Component, Binder Type, Business Insights, Regional Analysis and Forecast 2021-2030

10-12-2023 01:39 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research.

Floor Coatings Market

Floor Coatings Market

As per the report, the global floor coatings industry was accounted for $3.1 billion in 2020, and is expected to reach $5.5 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030. Increase in demand for floor coatings from end users such as commercial, residential, and industrial and surge in demand for interior decoration have boosted the growth of the global floor coatings market. However, slippery characteristic of floor coating hinders the market growth. On the contrary, effective price strategy owing to rise in competition in the industry would unlock lucrative opportunities in the future.

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By coating component, the double component segment held the largest share in 2020, accounting for more than two-thirds of the global floor coatings market. In addition, the segment is estimated to register the highest CAGR of 6.1% during the forecast period, owing to growing demand for anti-corrosion products from multiple end-use sectors. The report includes analysis of the single component and triple component segments.

By end user, the commercial segment is projected to manifest the highest CAGR of 6.1% from 2021 to 2030, owing to presence of huge consumer base in the regions including Asia-Pacific. However, the residential segment held the largest share in 2020, contributing to more than two-fifths of the global floor coatings market, due to durability and longevity of floor coating.

By region, the market across Asia-Pacific dominated in 2020, accounting for more than one-third of the market. In addition, the region is expected to register the highest CAGR of 7.3% during the forecast period, due to increase in populace, surge in middle-class income, rapid urbanization, and upcoming construction projects in the region. On the other hand, the global floor coatings market across North America is expected to showcase a CAGR of 4.5% from 2021 to 2030.

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Major market players

The Sherwin-Williams Company
BASF SE
ArmorPoxy
Akzo Nobel N.V.
Axalta Coating Systems, Ltd.
RPM International Inc.
PPG Industries, Inc.
Sika AG
3M
The Lubrizol Corporation

Covid-19 scenario:

The Covid-19 pandemic severely disrupted the supply chain and procurement of raw materials due to strict implementation of lockdown regulations.
The ongoing construction projected halted or postponed during the pandemic due to lack of operations and concerns regarding safety of workforce. This negatively affected the demand for floor coatings.
However, rise in vaccination programs and relaxation in lockdown regulations would propel the demand for floor coatings.

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Key benefits for stakeholders

This report provides a detailed quantitative analysis of the current floor coatings market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of floor coatings market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global floor coatings market.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us

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Wilmington, New Castle,
Delaware 19801 USA.
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