Floor coatings market report, published by Allied Market Research, forecasts that the global market is expected to garner $2,612 million by 2022, registering a CAGR of 6.6% during the period 2016-2022. Epoxy-based floor coatings segment is anticipated to remain the highest revenue contributor among other binder types. In the year 2015, Asia-Pacific held the leading position in the global market, and is expected to maintain this trend.
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Floor coatings are gaining increased
importance in residential, commercial, and industrial sector, as floors are an
essential part of a construction that undergo damages such as spillage;
abrasion; and exposure to dust, chemicals, heavy load, and UV light. Further,
the prevention provided by the floor coatings promotes their usage at a global
platform. Major manufacturers focus on advancement in the technology and development
of products that are eco-friendly. Epoxy floor coating is a major binder type
used in the global floor coatings market across all the major industries. Rise
in awareness related to the benefits provided by the floor coatings in
industrial, commercial, and residential spaces, and development of floor
coatings in compliance to the environment are the factors that drive the growth
of the market.
The global epoxy floor coatings
market estimated to reach $1,008 million by 2022, growing at a CAGR
of 7.0% from 2016 to 2022. This market is projected to grow at a CAGR of 7.3%,
in terms of volume.
The use of metallic epoxies for
garage and other commercial floor spaces is the latest trend in the commercial
floor coatings market, as they provide high-gloss, metallic finish, which
enhances the look of the floor. Moreover, these floor coatings possess
properties such as prolonged durability, abrasion resistance, and easy
maintenance, giving a finished appearance to the indoor spaces, which further
facilitate their adoption globally. Such innovation and product development
create a paradigm shift in the market from use of traditional floor coatings
toward new advanced floor coating solutions.
Rapid urbanization in the emerging
economies, such as India, China, Brazil, and others, has led to
upsurge in civil construction activities, which is a key driving factor that
promotes the usage of floor coatings in the residential, commercial, and
industrial. Moreover, increase in commercial and residential construction
activities in the emerging economies, such as India and China,
is expected to fuel the market growth in Asia-Pacific.
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Key Findings of the Floor Coatings
Market
·
Epoxy segment occupied the highest
share in 2015, and is expected to grow at a high CAGR of 7.0%, in terms of
value, during the forecast period.
·
Residential sector is the leading end
user segment for floor coatings in Asia-Pacific, followed by industrial
and commercial.
·
2K-component segment is expected to
grow at the highest CAGR of 6.8%, in terms of value.
·
Wood floor coatings is the leading
market for floor coatings in the European region, growing at a CAGR of 6.7%, in
terms of value.
Asia-Pacific accounted for the
largest share in the global floor coatings market in 2015, and is expected to
maintain its leading position, owing to increase in building & construction
and automotive manufacturing industries, and improvement in
economy. China is projected to grow at the fastest rate, and is
projected to remain dominant throughout the forecast period.
The prominent players profiled in
this report include BASF SE, Akzo Nobel NV, Tambour, The Dow Chemical Company,
The Arkema Group, The Sherwin Williams Company Inc., Maris Polymers, Nora
Systems Inc., Asian Paints PPG Pvt. Ltd., and RPM Internationals Inc.
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About Us:
Allied Market Research (AMR) is a
full-service market research and business-consulting wing of Allied Analytics
LLP based in Portland, Oregon. Allied Market Research provides global enterprises
as well as medium and small businesses with unmatched quality of "Market
Research Reports" and "Business Intelligence Solutions". AMR has
a targeted view to provide business insights and consulting to assist its
clients to make strategic business decisions and achieve sustainable growth in
their respective market domain.
We are in professional corporate
relations with various companies and this helps us in digging out market data
that helps us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Each and every data presented in the
reports published by us is extracted through primary interviews with top
officials from leading companies of domain concerned. Our secondary data
procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
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