Enjoy complimentary customisation on priority with our Enterprise License!
The floor coatings market size is estimated to grow by USD 1.97 billion at a CAGR of 4.27% between 2023 and 2028. The market is experiencing significant growth due to an increase in new product launches and the adoption of moisture-resistant coatings. This trend is driven by rapid urbanization and infrastructure development, which have led to a surge in demand for durable and long-lasting flooring solutions. Moisture-resistant coatings, in particular, are gaining popularity due to their ability to protect floors from damage caused by water and humidity. Additionally, the increasing awareness of the importance of indoor air quality and the desire for aesthetically pleasing floors are also contributing to the market's growth. Overall, the floor coatings market is poised for continued expansion in the coming years.
For More Highlights About this Report, Request Free Sample
The market encompasses a wide range of products used to protect and enhance the appearance of various surfaces, including warehouses, hospitals, manufacturing plants, showrooms, commercial retail stores, garages, airplane hangars, and construction sites. The market is driven by increasing construction spending and activities, particularly in the manufacturing sector. Tiles, carpet, bamboo flooring, and tile flooring are popular flooring options, but concrete floor coatings remain the most commonly used due to their durability and cost-effectiveness. Single component floor coatings, such as polyaspartic coatings from companies like AsymchemLabs and Dairy cooperative Dairgold, offer fast curing times and high resistance to chemicals. Biotics Research, on the other hand, specializes in water-based floor coatings, which are more environmentally friendly. Other advanced floor coating technologies include self-healing, anti-microbial, and photocatalytic coatings. The market is segmented into residential and manufacturing facilities, with the manufacturing facilities segment accounting for the larger share due to the need for durable and protective coatings. Overall, the Floor Coatings Market is expected to grow significantly in the coming years, driven by increasing demand for durable and aesthetically pleasing flooring solutions. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in new launch of floor coatings is notably driving market growth. Floor coatings are essential for various sectors including warehouses, hospitals, manufacturing industrial plants, showrooms, commercial retail stores, garages, and airplane hangars. Construction spending and activities continue to drive the demand for these coatings. Tiles, carpet, bamboo flooring, and concrete are common surfaces that benefit from floor coatings. Single, double, and triple component coatings are available in the market, with epoxy, polyurethane, acrylic, polyaspartic, methyl methacrylate, and others being popular choices. VOCs are a concern in floor coatings, leading to the development of water-based and self-healing options. AsymchemLabs, Dairy cooperative Dairgold, Biotics Research, and other manufacturers provide concrete floor coatings. Anti-microbial, photocatalytic, and other advanced floor coatings are also gaining traction in the market. Thus, such factors are driving the growth of the market during the forecast period.
The rising number of M&A among vendors is the key trend in the market. Floor coatings are essential for various sectors including warehouses, hospitals, manufacturing industrial plants, showrooms, commercial retail stores, garages, and airplane hangars. Construction spending and activities continue to drive the demand for floor coatings in new and ongoing projects. Tiles, carpet, bamboo flooring, and concrete are common substrates for floor coatings. Single component, double component, and triple component systems are available in the market, each offering unique benefits. Epoxy, polyurethane, acrylic, polyaspartic, methyl methacrylate, and other types of floor coatings cater to diverse requirements. VOCs are a concern in floor coatings, leading to the development of water-based and self-healing options. AsymchemLabs, Dairy cooperative Dairgold, Biotics Research, and other manufacturers provide concrete floor coatings, while some companies specialize in water-based, anti-microbial, and photocatalytic floor coatings. Single, double, and triple component coatings are used extensively in residential and commercial applications. Thus, such trends will shape the growth of the market during the forecast period.
The fluctuations in prices of raw materials is the major challenge that affects the growth of the market. Floor coatings are essential protective coverings applied to various surfaces in diverse sectors, including warehouses, hospitals, manufacturing industrial plants, showrooms, commercial retail stores, garages, and airplane hangars. Construction spending and activities continue to drive the demand for floor coatings, particularly concrete and wood flooring, such as tiles, carpet, bamboo, terrazzo, and others. Single, double, and triple component floor coatings, including epoxy, polyurethane, acrylic, polyaspartic, methyl methacrylate, and others, are widely used. Industrial applications often prefer high-performance coatings, such as epoxy and polyaspartic, for their durability and resistance to chemicals and heavy traffic. Residential applications lean towards water-based floor coatings for their ease of application and lower volatile organic compound (VOC) emissions. Self-healing, anti-microbial, and photocatalytic floor coatings are gaining popularity due to their added benefits, such as improved durability, healthier indoor environments, and energy efficiency. Companies like AsymchemLabs, Dairy cooperative Dairgold, Biotics Research, and others are leading the way in innovation within the floor coatings market. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akzo Nobel NV - The company offer floor coatings such as Intergard 435 Flooring coatings and stains.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The epoxy segment is estimated to witness significant growth during the forecast period. Floor coatings are essential for various sectors including warehouses, hospitals, manufacturing industrial plants, showrooms, commercial retail stores, garages, and airplane hangars. Construction spending and activities continue to drive the demand for these coatings. Tiles, carpet, bamboo flooring, and concrete are common substrates for floor coatings.
Get a glance at the market share of various regions Download the PDF Sample
The epoxy segment accounted for USD 3.50 billion in 2018. Single, double, and triple component coatings are available in the market, with epoxy, polyurethane, acrylic, polyaspartic, methyl methacrylate, and VOCs being popular choices. Companies like AsymchemLabs, Dairy cooperative Dairgold, and Biotics Research offer concrete floor coatings, water-based floor coatings, self-healing floor coatings, anti-microbial floor coatings, and photocatalytic floor coatings. Residential applications also utilize these coatings for wood, terrazzo, and other floor types. Single, double, and triple component coatings provide varying benefits such as durability, easy application, and low VOCs. Polyaspartic coatings have gained popularity due to their fast curing properties and resistance to chemicals and abrasion.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 48% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is experiencing significant growth due to the expansion of manufacturing facilities and chemical plants, which necessitate the use of durable and protective coatings on concrete surfaces. The construction sector's growth, fueled by population growth and industrialization, is also driving demand for floor coatings in both residential and commercial applications. Epoxy-based coatings are popular choices due to their durability and resistance to organic solvents. However, the environmental impact and human health concerns associated with the production and application of these coatings are under scrutiny. The infrastructure sector's development requires the establishment of new production facilities, which will increase labor requirements and potentially lead to vaccination programs for workers. Current floor coatings are undergoing advancements to reduce their environmental footprint and improve their safety profile.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Floor coatings are essential protective coverings applied to various surfaces such as warehouses, hospitals, manufacturing industrial plants, showrooms, commercial retail stores, garages, airplane hangars, and construction sites. The market for floor coatings is driven by construction spending and activities. Tiles, carpet, bamboo flooring, tile flooring, concrete, wood, terrazzo, epoxy, polyurethane, acrylic, polyaspartic, methyl methacrylate, and VOCs are among the popular types of floor coatings. Single component, double component, and triple component are the various forms of floor coatings. Manufacturers of floor coatings cater to diverse industries, including residential, manufacturing, and construction. Companies like AsymchemLabs, Dairy cooperative Dairgold, and Biotics Research produce concrete floor coatings, water-based floor coatings, self-healing floor coatings, anti-microbial floor coatings, and photocatalytic floor coatings. Polyaspartic coatings are gaining popularity due to their fast curing properties and low VOC content. The market is segmented into single, double, and triple component coatings based on their composition. Wood, concrete, and tile flooring are the primary applications for floor coatings. The market for floor coatings is expected to grow significantly due to the increasing demand for durable and long-lasting flooring solutions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
205 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.27% |
|
Market growth 2024-2028 |
USD 1.97 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.11 |
|
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 48% |
|
Key countries |
US, China, Germany, UK, France, and Japan |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Akzo Nobel NV, Arkema SA, Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Behr Process LLC, Benjamin Moore and Co., Dudick Inc.,, Dur-A-Flex Inc., Elite Crete Systems, Dow Inc., Hempel AS, Jotun Group, Nippon Paint India Pvt. Ltd., PPG Industries Inc., RPM International Inc., Rust Oleum Corp., Sakshi Coating Pvt. Ltd., Sika AG, The Sherwin Williams Co., Tnemec Co. Inc., and The Valspar Corp. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Additional Value/Volume Data
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by End-user
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
