Floor Coatings Market Overview
The floor coatings market is projected to register a CAGR of more than 5% during the forecast period (2021-2026). Floor coatings are durable, protective layers applied to surfaces that are subjected to extreme wear or corrosion. Warehouses, chemical plants, and production floors are examples of typical applications. The demand for floor coatings from the industrial sector dominated the market, and it is expected to grow during the forecast period due to the increasing demand from the chemical industry. The promising performance of poly aspartic coatings is likely to act as an opportunity in the future. In the short term, the housing construction activities in the emerging economies of Asia-Pacific are likely to increase. However, there are strict regulations on VOCs released for floor coatings.
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Floor Coatings Market – Geographical Overview
Asia-Pacific region dominated the global floor coatings market share
The increasing housing construction activities in the emerging economies of Asia-Pacific have also hugely contributed to the market growth. As state-owned and private enterprises dominate the construction industry, increased government and private expenditure in this regard are 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. Besides, the consumption of floor coatings has been witnessing positive strides in China, owing to the significant growth of high-rise buildings in the country for the past five years. According to the Council on Tall Buildings and Urban Habitat, in 2019 alone, 56 high-rise buildings (over 200 meters in height) were completed in the country.
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Key Highlights of the Floor Coatings Market
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List of Key Players in the Floor Coatings Market
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Mordor Intelligence has segmented the global floor coatings market on the basis of product type, floor material, coatings component, end-user industry, and geography:
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