The global floor coatings market size is expected to reach
USD 3,901.5 million by 2025, exhibiting a CAGR of 6.6% over the forecast
period, according to a new report by Grand View Research, Inc. The market is
anticipated to be driven by rising demand for green buildings globally.
Green buildings are gaining popularity over the
conventional ones in the recent years. Efficient use of energy & water, use
of renewable energy, reduced operating costs, improved air quality, and reduced
overall load on metal structures as compared to conventional buildings are
fueling the demand for green buildings.Floor coating manufacturers are
designing VOC-free and environment-friendly products to cater to the increasing
demand in green buildings. These factors are projected to significantly fuel
the market growth over the forecast period.
Based on product segment, polyurethane is
anticipated to ascend at the highest growth rate over the forecast period.
Polyurethane offers abrasion, corrosion, and wear resistance along with high
flexibility. These benefits make the product suitable for use as flooring
solutions in residential, commercial, and industrial structures. Epoxy coatings
are applied on various surfaces including terrazzo, chip, and colored aggregate
flooring to enhance the aesthetic appeal.
Double component segment is expected to witness
substantial growth over the forecast period. Double component surface coatings
are suitable for areas such as parking & bridge decks, warehouses,
industrial spaces, service stations, chemical & metal treatment plants, and
machinery service area. They have excellent chemical, abrasion, and water
resistance properties. With rapid industrialization and increase in
infrastructure development, double component coatings are expected to witness
growth in demand, especially in developing countries such as China, India, and
Brazil.
Wood is one of the prominent application
segments.Surface coatings are used on wood floors to enhance wood grain and to
protect the surface. Consumers can select one between matte finish and glossy
finish depending on their requirement for covering wooden floors. Types of
products that are used to impart a clear finish to traditional hardwood floors
include water-based polyurethane, solvent-based polyurethane, and others.
Commercial end-user segment is projected to
witness significant growth owing to the increasing spending on construction
activities including shopping malls, commercial stores, hospitals, restaurants,
warehouses, institutions, and similar other projects with the rise in
purchasing power parity across regions such as Asia Pacific, North America, and
Europe. Surface coatings with anti-slip property and glossy appearance are
useful in heavy traffic areas such as commercial centers that witness high
footfall along with movement of machines such as forklifts.
Various strategic initiatives were recorded in
the past few years to boost the market growth. For instance, in January 2019,
LATICRETE International, Inc. displayed its product line at 2019 World of
Concrete show. The product line included various flooring systems, coatings,
and construction materials marketed under SPARTACOTE, LATICRETE SUPERCAP, and
NXT brands.
For Full Research Report On Floor Coatings Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/floor-coatings-market
Further key findings from the report suggest:
- Asia
Pacific dominated the market during the forecast period from 2019 to 2025
- China is
the fastest growing country in Asia Pacific region on account of the
growing industrialization
- Polyurethane
segment is fueling the floor coating market growth owing to its rising
demand in various applications
- Market
players are adopting various strategies such as showcasing their floor
coating product lines in commercial expos to create awareness among the
end users and boost product sales.
Get request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/floor-coatings-market/request/rs1
Grand
View Research has segmented the global floor coating market on the basis of
product, component, application, end-user, and region:
Floor Coating Product Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- Epoxy
- Polyaspartic
- Polyurethane
- Acrylic
- Methyl
Methacrylate
Floor Coating Component Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- Single
Component
- Double
Component
- Triple
Component
- Others
Floor Coating Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
- Concrete
- Wood
- Terrazzo
- Others
Floor Coating End-User Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- Residential
- Industrial
- Commercial
Floor Coating Regional Outlook (Volume, Kilotons; Revenue, USD Million,
2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Asia
Pacific
- China
- India
- Japan
- Australia
- Central
& South America
- Brazil
- Argentina
- Middle
East & Africa
- Saudi
Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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