According to IMARC Group’s latest report, titled “Floor Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 2.47 Billion in 2021. Floor coatings are protective layers used in places where corrosion or heavy surface wear is expected. They protect the floor from cracks and moisture and provide a smooth and high-performance surface that can withstand heavy loads for several years. Floor coatings also assist in brightening or defining areas of facilities, marking traffic aisles, routing traffic, etc. As a result, they find a wide range of applications in hospitals, manufacturing, industrial plants, commercial and retail stores, garages, etc.
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The escalating product utilization in the chemical industry to ensure high-performance flooring for production plants, research and development (RD) labs, and other facilities is one of the key factors driving the floor coatings market. Furthermore, the growing need for protective coverings that ensure chemical resistance and strict hygiene, while protecting the health of workers and adhering to safety protocols, is also catalyzing the market growth. Additionally, the widespread utilization of floor coatings in the manufacturing industry is further bolstering the market growth. Apart from this, the inflating risk of microbial growth spillage in the food and beverage (FB) industry, which can degrade the quality of the processed food, is propelling the demand for thick and durable floor coatings. Additionally, the expanding construction sector, on account of the rising infrastructural developments across the commercial and residential sectors, is anticipated to fuel the floor coatings market in the coming years. Looking forward, IMARC Group expects the global floor coatings market to reach US$ 3.64 Billion by 2027, exhibiting at a CAGR of 6.5% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- 3M Company
- Akzo Nobel N.V.
- Arkema S.A.
- Asian Paints Ltd.
- Axalta Coating Systems Ltd.
- BASF SE
- Henkel AG Co. KGaA
- Kansai Paint Co. Ltd.
- Koninklijke DSM N.V.
- PPG Industries Inc.
- RPM International Inc.
- Sika AG
- The Dow Chemical Company
- The Sherwin-Williams Company.
Market Segmentation:
Breakup by Binder Type:
- Epoxy
- Thermoplastic
- Thermoset
- Acrylic
- Polyaspartics
- Polyurethane
- Polymethyl Methacrylate
- Others
Breakup by Coating Component:
- One-Component (1K)
- Two-Component (2K)
- Three-Component (3K)
Breakup by Floor Structure:
- Wood
- Terrazzo
- Mortar
- Concrete
- Others
Breakup by Formulation:
- Solvent-Based
- Water-Based
- Others
Breakup by End User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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