Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Floor Coatings Market Size is Expected to Grow from USD 3.0 Billion in 2023 to USD 5.7 Billion by 2033, at a CAGR of 6.63% during the forecast period 2023-2033.
Browse 210 Market Data Tables and 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Floor Coatings Market Size, Share, and COVID-19 Impact Analysis, By Product (Epoxy, Polyaspartic), By End-use (Residential and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
The market for floor coatings involves worldwide demand for protective and abrasion-resistant coatings put on floors, especially in industrial and commercial environments, to improve functionality and solve problems such as corrosion, extreme wear, and staining. The product is used on wood, terrazzo, concrete, and other floor types to shield them against corrosion, thermal shock, moisture, and chemicals. These are primarily utilized to increase the shelf life of the floor and give decorative features, low maintenance, and protection. Furthermore, the increasing building and construction sector, particularly in the emerging markets of China and India, is significantly driving the product market growth. Attributes like high abrasion resistance, quick drying and hardening, chemical resistance, and affordability are driving the product demand for end-use applications. The global building and construction sector is among the leading consumers of coatings globally, meeting more than 40% of global coatings demand. However, the market for floor coatings is challenged by volatile raw material prices, strict regulation, and growing competition from the use of concrete polishing as an alternative, while offering opportunities in sustainable solutions and high-performance coatings.
The epoxy segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 42.5% during the forecast period.
Based on the product, the global floor coatings market is divided into epoxy and polyaspartic. Among these, the epoxy segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 42.5% during the forecast period. This is due to their extensive usage on concrete floors in a variety of industrial and commercial uses, including warehouses, commercial and retail establishments, showrooms, garages, manufacturing facilities, hospitals, airplane hangars, and more.
The industrial segment held the highest share in 2023 and is estimated to grow at a CAGR of 38.12% during the projected period.
Based on the end-use, the global floor coatings market is divided into residential and industrial. Among these, the industrial segment held the highest share in 2023 and is estimated to grow at a CAGR of 38.12% during the projected period. The product finds application in several sectors. These are demanded by the food, chemical processing, and manufacturing sectors. Demand for floor coatings by these industries is anticipated to increase in the forecast period due to wear and temperature resistance, anti-slip functionality, etc., provided by them.
North America is anticipated to hold the highest share of the global floor coating market over the projected period.
North America is anticipated to hold the highest share of the global floor coatings market over the projected period. This is due to the greater demand for non-residential building projects, including hospitals, office buildings, and colleges. National policies aimed at the revival of the housing segment are anticipated to have a favorable effect on future construction trends. Reconstruction efforts in the U.S., combined with infrastructure construction in Canada and Mexico due to increased industrialization, are anticipated to offer great market potential in North America during the forecast period, thereby boosting the demand for the product within the region.
Asia Pacific is estimated to grow at the fastest CAGR of the global floor coatings market during the forecast period. This is driven by increased construction activities and increasing demand from the construction industry in developing nations like India, Japan, and South Korea. Various companies are increasing their current manufacturing units or establishing new ones due to low labor costs and the convenience of raw material availability in China.
Company Profiling
Major vendors in the global floor coatings market are BASF SE, Stonhard, AKZO NOBEL N.V., Asian Paints Limited, Terrazzo & Marble Supply, Maris Polymers, 3M, Koninklijke DSM N.V., Michelman, Inc., AXALTA COATING SYSTEMS LTD., Flowcrete Group Ltd., Chugoku Marine Paints, Ltd., Hempel A/S, Kansai Paint Co., Ltd., The Lubrizol Corporation, Nippon Paint Holdings Co., Ltd., Grand Polycoats, Florock Polymer Flooring, CPC Floor Coatings, Tikkurila Oyj, Teknos Group, Mapei S.p.A., LATICRETE International, Inc., The Jotun Group, Sika Group, ArmorPoxy, Arkema, PPG Industries, Inc., The Sherwin-Willams Company, Tambour, The Dow Chemical Company, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global floor coatings market based on the below-mentioned segments:
Global Floor Coatings Market, By Product
Global Floor Coatings Market, By End-use
Global Floor Coatings Market, By Regional
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