According to the report by Expert Market Research (EMR), the global floor coatings market size is projected to grow at a CAGR of 7.1% between 2024 and 2032. Aided by the escalating demand for durable and aesthetically pleasing floor finishes, coupled with the diversified applications across residential, commercial, and industrial sectors, the market is expected to grow significantly by 2032.
Floor coatings, commonly recognised as surface protectors or finishes, are engineered layers designed to be applied over floor surfaces to augment their life span, improve resistance against wear and tear, and elevate their visual appeal. These coatings not only act as protective barriers for floors against mechanical damage, chemical erosions, and UV radiation but also embellish them with a sleek, glossy finish, thereby enhancing the aesthetic value of spaces.
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One of the pivotal factors propelling the global floor coatings market growth is the rapid pace of urban development and the consequent boom in the construction industry. With burgeoning infrastructural projects, ranging from swanky commercial hubs and lavish residential complexes to sprawling industrial units, the necessity for floor finishes that seamlessly blend durability with elegance is more pronounced than ever.
The multifaceted nature of floor coatings amplifies the spectrum of the floor coatings market demand. Commercial arenas, such as corporate offices, retail spaces, and hospitality sectors, bank upon these coatings to provide a sophisticated look coupled with sustained protection. In industrial setups, particularly in areas prone to chemical spills or heavy machinery movement, the need for robust and chemically resistant floor coatings is indispensable. Meanwhile, in the domestic sector, homeowners are increasingly veering towards these coatings, lured by their promise of durability coupled with minimalistic beauty.
The floor coatings market growth is further fuelled by continuous innovation and evolution. Recent trends underscore a noticeable tilt towards environmentally conscious, low-VOC (Volatile Organic Compound) floor coatings. As the global emphasis shifts towards sustainability, eco-friendly coatings, which ensure reduced environmental footprints without compromising on quality, are gaining traction. Manufacturers, sensing this shift, are investing heavily in research and development initiatives to introduce greener, more sustainable solutions.
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According to the floor coatings market analysis, the recent years have witnessed an uptick in demand for bespoke floor coating solutions. Tailored to specific needs, these solutions ensure optimal performance and aesthetics, catering to a diverse clientele with varied requirements.
Floor Coatings Market Segmentation
The market can be divided based on binder type, component type, floor structure, end use, and region.
Market Breakup by Binder Type
- Epoxy
- Thermoplastic
- Thermoset
- Others
Market Breakup by Component Type
- One-Component (1k)
- Two-Component (2k)
- Three-Component (3k)
Market Breakup by Floor Structure
- Wood
- Terrazzo
- Mortar
- Others
Market Breakup by End Use
- Residential
- Commercial
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global floor coatings market. Some of the major players explored in the report by Expert Market Research are as follows:
- BASF SE
- Akzo Nobel N.V.
- Dow Chemical Company
- Nora systems GmbH
- Arkema Group
- Maris Polymers S.M.S.A.
- Others
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