Floor Coating Market to Cross US$ 3,941.2 Mn by 2027

Concrete is the most basic flooring material. Usually, it is only the surface of the slab that is poured directly on the gravel or dirt bed to install the foundation of a building. The concrete flooring material is not only durable, reliable, and incredibly long-lasting, but also developed a reputation for being utilitarian and course underfoot. However, modern advancements have given the flooring professionals a variety of design options that are allowing them to reinvent this primary building material entirely.

Today concrete floors have the option to be polished smooth or even be textured to provide traction. These can also be stained or painted with a variety of techniques that allows them to replicate the appearance of natural materials or embed the floor with intricate printed designs. Traditionally concrete floorings have been used in locations where durability, utility, and ease of maintenance are more important than design. This includes a variety of environments that bear heavy equipment or machinery may routinely be used, or at places where staining agents may be familiar. It is also a popular commercial flooring alternative for areas of high traffic.

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The Asia-Pacific region accounted for the highest share in the global floor coating market. The Asia-Pacific, floor coating market is primarily being driven by the growing demands for floor coating products mainly from the residential application segment. With the rise of individual residencies, luxurious residences, and multi-residential properties, the demand for innovative floor coating is anticipated to grow at a faster rate. The trend is foreseen to continue over the years, as the population in European counties continues to grow, thereby creating a huge space for residential constructions. European countries such as Germany and UK are experiencing high growth in their construction sector. The shifting trend towards floor protection in manufacturing, transportation, chemical, and food-processing industries have stimulated the floor coatings to demand in the European region.

The market for global floor coating is concentrated with some very well-established players. Some of the key players in the global floor coating market include Axalta Coating Systems Ltd., Apurva India Pvt. Ltd, sian Paints Limited, Grand Polycoats, Maris Polymers S.A., Michelman, Inc., The Lubrizol Corporation, The Sherwin-Williams Company, PPG Industries, Inc., and 3M Company, among others.

The rise in the Number of Commercial and Residential Construction Projects has led to the growth of the Floor Coating Market

Floor coatings are applied on surfaces to impart slip resistance properties to them. Besides offering slip resistance, they also exhibit anti-vibration, antistatic, and waterproof properties. Floor coatings are used in residential and commercial projects to increase the durability of concrete floors with epoxy coatings. Epoxy, polyurethane, and acrylic coating on concrete floors enable them to withstand a considerable amount of static and dynamic loads. Floor coatings also prevent wear and tear on the surface of these floors. As floor coatings are resistant to cleansers, oils, chlorides, water, snow, ice, hail, transmission fluids, and bleaches, they are increasingly being used to overlay the floors of parking spaces, garages, and car showrooms. Besides their applications in coating parking deck floor, they are also used in residential construction projects to produce decorative seamless floors. They are used to enhance the aesthetics of floors in houses. These factors are influencing the market for floor coatings.        

Strategic Insights

Strategic market initiatives such as merger and acquisition have positively impacted the growth of the global floor coating market. The recent development in the global floor coating market is listed below:

2018: PPG acquired ProCoatings which is a leading architectural paint and coatings wholesaler located in The Netherlands. This acquisition will provide PPG’s business with even greater opportunities to support the customers and strengthen the company’s presence in this market

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Global Floor Coating Market – By Type

• Epoxy
• Polyurethane
• Acrylics
• Polymethyl Methacrylate
• Others

Global Floor Coating Market – By Formulation

• Solvent-Based
• Water-Based

Global Floor Coating Market – By Coating Component

• 1K
• 2K
• 3K

Global Floor Coating Market – By Flooring Material

• Wood
• Concrete
• Mortar
• Terrazzo
• Others

Global Floor Coating Market – By Application

• Residential
• Commercial
• Industrial