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Floor Coating Market to 2027 - Global Analysis and Forecasts by Type ; Formulation ; Coating Component ; Flooring Material, Application, and Geography

Floor Coating Market to 2027 - Global Analysis and Forecasts by Type ; Formulation ; Coating Component ; Flooring Material, Application, and Geography

  • December 2019
  • 197 pages
  • ID: 5862133
  • Format: PDF
  • By The Insight Partners

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The global floor coating market accounted for US$ 2,175.6 Mn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 - 2027, to account to US$ 3,941.2 Mn by 2027. Floor coating exhibit desirable properties such as waterproof, anti-static, anti-vibration, and anti-skid. These desirable properties have made them the favored coating in many industrial, as well as construction industries. Floor coating protect the concrete surfaces onto which they are applied and are responsible for extending the life of the underlying concrete floors. They are inert to oils, detergents and cleaners, transmission fluids, water, hail, snow, and corrosive chemicals. Floor coating are also used to improve the aesthetic appeal of the floor. They are available in a number of colors, shades, and textures. Metallic pigments, and vinyl color flakes are added to the floor coating systems to produce floor coating surfaces with iridescent colors. The aesthetic appeal of colorful floor coating is expected to drive the market for floor coating used in new housing projects and renovation of old houses. The aesthetic appeal of seamless floor is expected to entice buyers towards floor coating in the forecast period.

Based on formulation, the floor coating market is categorized into the solvent-based and water-based.The water-based segment is dominating the floor coating market.

With more limited availability of solvent-based formulations, the water-based formulation coating have seen an upsurge in use.Their lower VOC content has been a huge advantage where restrictions on VOCs are especially stringent.

Water-based formulation coatings typically have a very low to zero solvent content and minimal odor and, based on the product, can often be applied to concrete while it is still moist or still in the process of curing.However, water-based formulation technology, while having made significant strides, has not yet been able to mark materials with the level of chemical resistance and durability desired for many industrial and commercial applications.

It is, therefore, often used in light to moderate duty environments, where frequent recoating is acceptable.

Growing demand for floor coatings in industrial applications is driving this market.In numerous industrial settings, such as warehouses, airplane hangars, assembly plants, paint shops, body shops, and distribution facilities, concrete floors are subject to wear and tear from exposure to harsh as well as corrosive chemicals and oils, and damage by scratches and abrasions caused by heavy machines and equipment such as airplanes and forklifts.

Floor coatings impart durability and strength to the normal concrete floors.They provide protection to the concrete floors from abrasions and wear from the constant movement of automated guided vehicles, sliding carts, forklifts, etc.

Moreover, the slip resistance provided by these coatings to floors help minimize the accidents on work floors. The rising importance of ensuring workplace safety and worker welfare has led to high consumption of floor coatings in industrial applications.

Some of the players present in global floor coating market are 3M Company, Apurva India Pvt. Ltd, Asian Paints Limited, Grand Polycoats, The Lubrizol Corporation, Maris Polymers S.A., Michelman, Inc., PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems Ltd. among others. These players are influencing the growth of the floor coating market.

The overall global floor coating market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the floor coating market.

Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the floor coating market.

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