Floor Coatings Market: Introduction
Transparency Market Research delivers key insights on the global floor coatings market. In terms of revenue, the global floor coatings market is estimated to expand at a CAGR of 6.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global floor coatings market.
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The global floor coatings market is broadly affected by several factors, including rise in usage of floor coatings in various construction methods for residential, industrial, warehouses, and others. Rise in global demand for better construction methods has led to significant growth in the floor coatings market. Increase in production and demand for epoxy floor coatings is expected to be the primary driver for the expansion of the floor coatings market. Rise in demand for construction materials application is propelling the floor coatings market.
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Floor Coatings Market: Dynamics
Floor coatings is primarily used in the construction of various floors. The global demand for better construction methods has been increasing at a significant pace. This is boosting the production of floor coatings in several countries. Thus, increase in production of building materials, wherein floor coatings are used, is propelling the global floor coatings market.
Epoxy is the family of basic components of cured end-products of epoxy resins. It is a reactive polymer of the epoxide group. It is used in coatings, adhesives, and composite materials. It helps in low shrinkage during cure. It is moisture resistant.
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Construction companies are the major users of floor coatings. Studies have shown extraordinary benefits of epoxy resins for the long life of floors across all stages of their use. The usage of floor coatings in residential, industrial, and commercial construction helps maintain hygiene and long life of floor. It also gives a rich texture to floors.
Floor coatings are durable coatings that can be used for a variety of purposes from strong adhesives to durable paints and coatings. These provide a decorative, high gloss finish; and are available in variety of colors and styles.
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Floor Coatings Market: Prominent Regions
Asia Pacific dominates the global floor coatings market. The market in the region is anticipated to expand at a CAGR of more than 6.6% during the forecast period. Increase in demand for epoxy as an additive in building materials is driving the floor coatings market in Asia Pacific. China is a key country of the floor coatings market in Asia Pacific. It held major share of the floor coatings market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Europe is also a key region of the global floor coatings market. Rest of Europe led the floor coatings market in Europe in 2020. The presence of large numbers of paint manufacturers is driving the demand for floor coatings in Rest of Europe.
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Floor Coatings Market: Key Players
The global floor coatings market is consolidated, with the presence of key players. Major players operating in the global Floor Coatings market are Steward Advanced Floors Inc, Akzo Nobel N.V., ARKEMA S.A., ASIAN PAINTS LTD., BERGER PAINTS INDIA LIMITED, DUPONT, FLOWCRETE INDIA PVT LTD. 3M, INDIGO PAINTS, KANSAI NEROLAC PAINTS LIMITED, SIKA INDUSTRIES LTD, Jemkon Pvt. Ltd, and Dr. Cipy- Specialized Floor Coatings.
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