[FURL= https://www.industryarc.com/Report/16312/floor-coating-market.html]Floor Coatings Market[/FURL] size is forecast to reach $9.5 billion by 2025, after growing at a CAGR of 5.7% during 2020-2025. Floor coatings are applied on surfaces to impart slip resistance properties to them. Besides offering slip resistance, they also exhibit anti-vibration, anti-static, and waterproof properties. Rising construction industry and increasing use of coatings in commercial, industrial, and residential applications are factors favoring the market growth.Key Takeaways
New product developments and increasing investments in research and development of floor coatings are expected to drive the growth of this market.
Among end users, industrial segment is projected to lead the floor coatings market during the forecast period.
Asia Pacific dominated the floor coatings market.
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Geography- Segment Analysis
Asia Pacific dominated the floor coatings market with a share of more than 35%, followed by North America and Europe. Increasing housing construction activities in the emerging economies of Asia-Pacific have hugely contributed to the growth of the market. Despite volatile growth in the real estate sector, significant development of rail and road infrastructure by the Chinese government has resulted in the robust growth of the Chinese construction industry, in the recent years. As the construction industry is dominated by state-owned and private enterprises, increased government and private expenditure in this regard is pushing the industry toward global primacy. In recent years, the entry of major construction players from the European Union, in China, has further boosted the growth of this industry. The construction sector in India has been growing rapidly, with increased investment by the government. The Indian government's ‘Housing for All by 2022’ is also a major game changer for the industry. Such factors are, in turn, boosting the demand for floor coatings in the region.
Drivers – Floor Coatings Market
The rise in number of commercial and residential construction projects has led to the growth of floor coating market
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the floor coatings market. In 2019, the market of floor coatings has been consolidated by the top five players accounting for xx% of the share. Major players in the floor coatings market are 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. among others.
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