Floor Coatings Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Market.
Global Floor Coatings market size was estimated at USD 6.7 billion in 2023 and is projected to reach USD 9.7 billion in 2030 at a CAGR of 4.9% during the forecast period 2023-2030.
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Recent Developments
In May 2023, Sika AG completed the acquisition of MBCC Group. Through this acquisition, Sika AG has expanded its portfolio of decorative floor coatings.
In March 2023, BASF SE announced that it has started the production of its first bio-based polyol, Sovermol which is designed for applications like flooring coating, waterpipe coating, adhesive, and putty applications. The production facility was started at Mangalore, India to serve the growing market in the Asia-Pacific.
Asia-Pacific to Dominate the Floor Coatings Market:
Asia Pacific, comprising of a vast expanse of land and water, has been observed to have acquired a preeminent position in the global market for protective coatings, as evidenced by its acquisition of the largest market share.
The exponential rise in the demand for such coatings in this region can be primarily attributed to the unprecedented growth and development of its industrial, infrastructural and constructional, marine, and automotive sectors, which has been nothing short of phenomenal.
The prominent players in the Floor Coatings market are
· 3M Company
· A& I Coatings
· AkzoNobel N.V.
· Apurva India
· Ardex Endura
· Asian Paints Ltd.
· Axalta Coating Systems Ltd.
· BASF SE
· Grand Polycoats
· Key Resin
· Lubrizol
· Michelman Inc
· Milliken & Company
· PPG Industries, Inc.
· RPM International Inc.
· The Daw Group
· The Sherwin-Williams Company
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The current surge in the need for enhanced surface strength of concrete surfaces has acted as a catalyst for the emergence of novel product development avenues for manufacturers on a global scale. The adoption of floor coatings for concretes has significantly contributed to the expansion of the floor coatings market.
Moreover, the rapid expansion of the residential sector is expected to be a major driving force behind the market's growth. Additionally, upcoming economies, such as China, India, Thailand, and South Africa are projected to present substantial growth opportunities for the worldwide floor coatings market participants, owing to the increase in construction industry expansion in conjunction with the escalation of governmental support to promote infrastructure investments.
The Floor Coatings Market is segmented into various segments such as by Floor Structure, End User, Binder Type, Coating Component and Region:
Based on Resin Type
· Epoxy
· Polyurethane
· Hybrid
Based on the Flooring Material
· Concrete
· Mortar
· Terrazzo
Based on the Coating Component
· One-component
· Two-component
· Three-component
· Four-component
· Five-component
Based on Technology
· Water-borne
· Solvent-borne
Based on End-Use Sector
· Manufacturing
· Aviation & transportation
· Food processing
· Science & technology
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In addition to the market data for the Floor Coatings Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Floor Coatings Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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