SAN FRANCISCO, July 30, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 235 page research report with TOC on "Floor Coatings Market Size, Share & Trends Analysis Report By Product (Polyaspartic, Epoxy, Polyurethane, Acrylic, MMA), By Component, By Application, By End-User, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/floor-coatings-market
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.
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
- Japan
- India
- Australia
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
Find more research reports on Paints, Coatings & Printing Inks Industry, by Grand View Research:
- Fluoropolymer Coating Additives Market - Increasing application in end-use industries such as construction and automobile industries is projected to drive global fluoropolymer coating additives market growth.
- UV Coatings Market - Increasing environmental awareness coupled with growing electronics industry is projected to drive the global UV coatings market over the forecast period.
- Xylene Market - Growing polymer and petrochemical sector coupled with increasing demand for PET, leather and rubber are expected to drive xylene market over the next six years.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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