Press release
Construction Flooring Chemical Market is expected to reach $3,787 million by 2023 | with CAGR 5.3%
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Construction flooring chemicals play a crucial role in reinforcing the foundations of load-bearing structures. These chemicals exhibit diverse chemistries tailored to specific applications, with the ability to impart special characteristics such as fast setting, free flow, and non-shrinkage based on end-user requirements.
The exponential growth in the construction industry, particularly in emerging economies like China, India, Brazil, the Middle East, and Africa, is attributed to changing lifestyle patterns, rapid economic development, and increased disposable income. This has significantly propelled the construction flooring chemical market. Additionally, a surge in home improvement and renovation projects further contributes to market expansion.
Soft covering flooring, encompassing carpets and rugs, dominates the global flooring construction chemical market. This segment offers benefits such as noise reduction, dust-binding, warmth, comfort, and aesthetically pleasing designs.
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Despite the positive outlook, volatility in raw material prices for flooring poses a challenge to market growth. Furthermore, concerns about environmental impact due to the use of volatile organic compounds (VOCs) in flooring materials act as a restraint. However, the growing emphasis on flooring compounds to enhance building foundation durability for sustainability presents a growth opportunity for the construction flooring chemical market.
Key findings from the report include:
LAMEA is expected to lead the market in terms of value, followed by Asia-Pacific.
The soft covering segment generated the highest revenue in 2016.
The residential segment is the largest application, with a CAGR of 5.0% during the forecast period.
LAMEA accounted for over one-third of the market share in 2016.
Asia-Pacific is anticipated to experience the highest CAGR from 2017 to 2023.
Asia-Pacific and LAMEA collectively contributed to over half of the global construction flooring chemical market share by revenue in 2016
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Key Benefits of Construction Flooring Chemical Market:
This report provides the quantitative analysis of the current market and estimations, trends, and dynamics from 2015 to 2023, which assists in identifying the prevailing market opportunities.
The study covers competitive landscape and value chain analysis, which helps to understand the competitive environment globally.
An in-depth analysis of current R&D within market is provided that helps in understanding the behavior of the market.
Extensive analysis of segment by product type helps in understanding the current flooring materials and the variants that are expected to gain prominence.
Extensive analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
Major Companies in the Industry:
►Armstrong World Industries Inc.
►Forbo
►Mohawk Industries Inc
►Shaw Industries
►Congoleum Corporation
►Gerflor
►Interface Incorporation
►James Halstead Plc
►The Dixie Group
►and Toli Corporation
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Leather Chemicals Market: https://www.alliedmarketresearch.com/leather-chemical-market-A07692
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