Floor Coating Market Size, Trends & Analysis - Forecasts To 2025 By Product Type (Epoxy, Polyaspartics, Acrylic, Polyurethane), By Floor Material (Wood, Concrete), By Coatings Component (One-Component (1K), Two-Component (2K), Three-Component (3K)), By End-User Industry (Residential, Commercial, Industrial), By Region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa); Vendor Landscape, and Company Market Share Analysis & Competitor Analysis - Global Market Estimates
Floor Coating Market Insights
The Global Floor Coating market is expected to grow at a significant CAGR during the forecast period. The market is driven by the ability of floor coating to provide benefits in multiple end-use industries such as manufacturing, construction, and packaging among others. The demand for floor coating is also expected to be positively impacted by growing industrialization in emerging economies.
However, factors such as Government restrictions and potential hazardous implications of Volatile Organic Compounds are likely to hinder market growth up to a certain extent. Limitations of epoxy raisins are also likely to negatively impact growth in the floor coating market.
Floor Coating Market: Product Type Insights
On the basis of product type, the Floor Coating market can be classified into Epoxy, Polyaspartics, and Acrylic, Polyurethane. The Epoxy segment is expected to hold the largest share in the floor coating market in terms of revenue. Epoxy coatings are conventionally used in commercial and industrial applications owing to various benefits such as improved brightness and ability to withstand heavy impact. Epoxy floor coatings are also being used in residential applications.
Floor Coating Market: Floor Material Insights
The Global Floor Coating market is segmented into Wood and Concrete based on floor material. The concrete segment is projected to hold the largest market share in terms of revenue. This growth can be attributed to multiple uses of concrete floor coating in the industrial sector.
Floor Coating Market: Coatings Component Insights
Based on the coating component, the Global Floor Coating market is segmented into One-Component (1K), Two-Component (2K), and Three-Component (3K). The 2K segment is projected to hold the majority segment in terms of revenue and is likely to grow at the highest CAGR as well. 2K is generally mixed with a hardener or an activator. This makes the coating resistant to chemicals and harsh environments. The market is further driven by its extensive applications in the industrial sector.
Floor Coating Market: End User Insights
The Floor Coating Market can be classified into Residential, Commercial and Industrial applications based on end-user. The industrial applications segment is projected to hold the largest market share in terms of revenue. Further, the residential segment is likely to grow at a substantial CAGR owing to its rising applications in architecture and residential construction.
Floor Coating Market: Regional Insights
The Asia Pacific market for floor coating is projected to grow at the highest CAGR owing to rising industrial and commercial activities in emerging economies. The market growth can be attributed to rising manufacturing and construction activities in countries such as India and China. North America is expected to hold the largest share in the Floor coating market in terms of revenue.
Floor Coating Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase controlled release fertilizer over the coming years. Some leading consumers of controlled release fertilizer are Royal BAM Group, Hilcorp and Devon Energy among others.
Floor Coating Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Floor Coating Market: Share & Competitor Analysis
Some of the key players operating in the Floor Coating market are BASF SE, The Sherwin Williams Company, Maris Polymers, Nora Systems Inc., Asian Paints PPG Pvt. Ltd, Arkema Group, RPM International, Akzo Nobel N.V and Tambour among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2018, BASF announced increase in prices of their epoxy based products in the European region
In August 2017, Sherwin Williams launched their water based floor coatings which reduce the VOCs as against solvent based formulations.
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The global Floor Coating market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Floor Coating market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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