Floor Coating Market
Floor Coating Market Introduction:
Floor Coating Market is estimated to Reach Million Dollar in 2022 Registering CAGR of 7.2% during the forecasted period 2022.
Floor Coatings is seen a rapid economic growth owing to changes in industry trends. Floor coatings are applied on concrete, tiles, wooden floors etc. so that it acts as defensive layer to prevent moisture damage, corrosion resistant, thermal shocks and chemical attacks. The main aspect of floor coatings is the long shelf life of the floor coatings along with providing decorative aspects, protection, cost effective and low maintenance. According to different varieties of floor coatings available in market, each type possesses various characteristics and are used for different purposes across the industry.
Floor Coatings Market is used for protecting concrete, tiles, wooden floors etc. from corrosion and climatic condition. Floor coatings is applied in order to increase shelf life with low maintenance and cost effective. These coating contains resins which protect them from oxidation and moisture. Owing to operational advantages, different varieties of floor coatings possesses various characteristics to suit various environment.
Floor Coatings are most widely used floor coatings on concrete flooring constructions and followed by polyaspartic. Epoxy based floor coatings can be utilized for multiple coatings purposes such as coating industrial machinery and also concrete flooring.
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Floor Coating Market Application:
Floor Coatings Market is increasing with the rapid growth; mainly due to the flourishing construction industry. The global construction market is anticipated to increase at an impulsive pace than world GDP over the forecast period. As Asian economies continue to industrialise and the US recovers from the sharp downturn during the global financial crisis is driving the construction industry. According to a recent study report published by the Market Research Future, The global market of Floor coatings is increasing and expected to witness influence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2016 – 2022).
Floor Coatings Materials such as polyaspartic, acrylic, polypropylene, polyester, epoxy, and vinyl ester are costlier but they are capable to deliver high performance for long run purposes. These high value added products widely used to provide properties such as strong surface, excellent mechanical durability ease of cleaning withstanding of chemical stresses well ease and simplicity of application. Floor coatings are used in applications such as residential, commercial and industrial construction activities.
Floor Coatings are special Coatings which are used for preventing the material from corrosion, chemical attacks and thermal shocks. Floor Coatings enhance the product shelf life leading to low replacement cost thus benefiting manufacturers. Hence, it is highly preferable in end user industries. Floor are highly subjected to wear, thus requires protection and high maintenance during construction activity. Owing advantages of Floor Coatings such as water proofing, slip resistance, microbial protection and others has boosted the demand for floor coatings over the forecasted period.
Floor Coatings can be formulated in a wide range of colours and finishes while still maintaining high levels of chemical resistance and durability. As good and as tough as these coatings may be, they are still vulnerable to delamination and, in some cases, blistering. On the other hand, emission of harmful volatile organic compounds (VOCs) when exposed to extreme harsh conditions of temperatures and chemical attacks which is in turn expected to influence floor coatings market.
Floor Coating Market Key Players:
Floor Coatings Market are BASF SE (Germany), Sherwin Williams Company Inc (US), The Dow Chemical Company (US), Akzo Nobel NV (Netherlands), The Arkema Group(France), Asian Paints PPG Pvt. Ltd (India), Nora Systems Inc.(Germany), RPM Internationals Inc.(US), Maris Polymers (Europe), Tambour (Israel) and others.
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Floor Coating Market Based on Resin Type:
Floor Coating component and end user, floor coating market is segmented. Based on resin type, epoxy dominates the Floor Coating Market due to high wear & tear resistance, high chemical sustainability, low shrinkage and high durability. Polyaspartic based floor coatings are also fastest growing market owing to high abrasion and faster curing property than epoxy and polyurethane based floor coating.
Floor Coatings Market Competitive Analysis:
Floor Coatings Market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the floor coatings market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for floor coatings materials in residential and industrial applications will influence the end user products from these industries. Floor coatings market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.
Floor Coating Market Segmentation:
Floor Coating is divided into 1K, 2K, 3K and others. 1K or single component contains low level of VOC and vaporizes when exposed to air. It does not require hardener, activator or catalyst. Thus, single component is eco-friendly is fastest growing segment owing to government policies regarding usage of eco-friendly products. 2K or “two components” is widely used with hardener, activator or catalyst to prevent it from chemicals, weather and UV rays. Water based 2K polyurethane systems provides curing and hardness which is top preferred choice in residential, commercial and industrial applications.
Based on end user, floor coatings in segmented into residential, commercial and industrial. The growing construction and infrastructure development in countries like china and India has boosted the demand for floor coatings in coming years. Increasing demand from multinational companies for decorative coatings is expected to boost the demand for floor coatings in near future. Innovation in floor coatings is major opportunity for many manufacturers to increase their production capacity.
Floor Coating Market Regional Analysis:
Geographically, Asia-Pacific is largest consumer of floor coatings with more than 35% of market share in global floor coatings market. Huge investment in building and construction along with infrastructure development has fueled the demand for floor coatings in coming years. China is major revenue generating country due to growing construction activities which leads to decorative floor coating in various industries. Europe & North America accounts for second and third market share respectively.
Floor Coating Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Floor Coatings Market
5 Industry Overview of Global Floor Coatings Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
Floor Coating Market Table of Content to be Continue……,
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