Press release
Floor Coatings Industry-Grow Pricing, Features, Reviews & Comparison of Alternatives Forecast to 2022
Global Floor coatings market witnesses a strong growth due to rise in building & construction industry owing to growing population across the globe. Suppliers in these segments are looking out for technological innovations such as water based emulsion so that eco-friendly products can be generated and there is less replacement cost for manufacturers. Government is spending on infrastructure along with changes in FDI policy is boosting the demand for floor coatings in end user such as residential and commercial. Rise in demand for construction in Asia-Pacific has impacted the demand for floor coatings in these regions. As the floor coating products extracted from petroleum, they are subject to price and supply variations. Therefore, the market can be restricted by volatile prices of crude oil and low supply of raw materials.
Floor coatings market is used for protecting concrete, tiles, wooden floors etc. from corrosion and climatic condition. Floor coatings are applied in order to increase shelf life with low maintenance and cost effective. These coating contains resins which protect them from oxidation and moisture. Owing to operational advantages, different varieties of floor coatings possesses various characteristics to suit various environments.
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Floor coatings are segmented on basis of resin type, coating component and end user. Based on resin type, floor coating market is segmented as epoxy, polyaspartic, polyurethane and others. Epoxy floor coatings is largest market share owing to high wear & tear resistance, high chemical resistance and high durability. Polyaspartic floor coatings is expected fastest growth owing to superior properties such as high abrasion, rapid curing and high UV protection. Development of bio based polyurethane is expected to open opportunity for floor coating market over the forecasted period.
According to coating component, floor coating is segmented into 1K,2K and 3K. 1K or single component is highly sensitive to moisture and humidity. It evaporates when exposed to air and do not require hardener, activator or catalyst. Other coating component like 2K or single component is highly preferred choice of manufacturer owing to faster curing and strong hardness and protect from heat, UV rays and chemicals.
Key Players
• BASF SE (Germany)
• Sherwin Williams Company Inc (US)
• The Dow Chemical Company (US)
• Akzo Nobel NV (Netherlands)
• The Arkema Group(France)
• Asian Paints PPG Pvt. Ltd (India)
• Nora Systems Inc.(Germany)
• RPM Internationals Inc.(US)
• Maris Polymers (Europe)
• Tambour (Israel)
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Segmentation
The global floor coatings market is majorly segmented on the basis of resin types, coating component and end user. based on resin types of floor coatings the market is segmented into epoxy, polyaspartic, polyurethane and others. Similarly, on the basis of coating component the market is classified into 1K, 2K, 3K and others. further, based on end user, floor coating market is segmented into residential, commercial, and industrial.
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