Floor Coating Market Size Worth US$ 4.1 Billion by 2026
The global floor coating market size is propel to reach around US$ 4.1 billion by 2026 and to grow at CAGR above 6.5 % over the forecast time frame 2019-2026
LOS ANGELES, July 24, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Floor Coatings Market (By Product: Acrylic, Epoxy, Polyurethane, Polyaspartic, Methyl Methacrylate; By Component: Triple, Double, Single, Others; By Application: Terrazzo, Wood, Concrete, Others; By End-User: Commercial, Industrial, Residential) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026.”
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Globally, demand for green buildings is expected to drive the market. In latest years, green buildings become more popular than standard structures. Efficient utilization of energy & water, renewable sources of energy, decreased operating costs and improved air qualité as well as decreased overall load for metal structures in comparison to conventional buildings are fueling the demand for green buildings. These variables will considerably fuel the development of the market during the forecast era.
Polyurethane is projected to increase at the greatest growth pace over the projected era based on the product section. Polyurethane provides elevated flexibility and abrasion, corrosion and wear resistance. These advantages make the product appropriate for use in housing, business and industrial facilities as flooring alternatives. In order for esthetic attraction to be improved, epoxy laminates are implemented on multiple surfaces such as terrazzo, chip and colored flooring.
Over the prediction era, significant growth is anticipated in the section of the double element. Dual surface coatings of components are appropriate in fields such as parking and bridge decks, warehouse, industrial space, stations, chemical and metal-processing plants and service area for equipment. The chemistry, abrasion and water resistance characteristics are outstanding. Dual component coatings are anticipated to show demand growth, particularly in developing nations such as China, India and Brazil, as a result of quick industrialization and an increase in infrastructure development.
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Wood is one of the most important segments of implementation. On floors wood is used for the improvement of wood grain and for the protection of the ground. Depending on its wooden floors necessity, consumers can choose one between matte and brilliant finish. Products used to give traditional hardwood floors a clear finish include water-based polyurethane, solvent-based polyurethane and others.
The business end-user segment is expected to be significantly growing as the purchasing power parity in areas such as Asia, North America and Europe will grow, with growing building expenditure, including shopping malls, business shops, hospitals, restaurants and comparable projects. Surface coatings with slip-resistant properties and glossy aspect are helpful in heavy-duty fields such as trade centers with a strong footprint and moving machines such as gliders.
Key Findings
During the forecast era 2019 to 2026, Asia Pacific dominated the market.
Because of the increasing industrialization, China is the fastest increasing nation in the Asia-Pacific region.
Due to its increasing demand in multiple applications, the polyurethane segment fuel the development of the floor coating industry.
Market players adopt a number of approaches to raise awareness among end customers and increase product sales by showing their product lines for ground coating on business shows.
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Key Players & Strategies
The market is characterized by the presence of various well-established players, such as Axalta Coating System; Akzo Nobel N.V.; BASF SE; Ltd.; RPM International, Inc.; PPG Industries, Inc.; Kansai Paint Co., and Sherwin-Williams Company. Competitive competition in the coming years is anticipated to stay high as major players continue to expand their product range and global geographical presence. Market companies compete according to the product and technology provided for the manufacture of floor coatings.
Major players compete with regional players on the grounds of application development capabilities in order to minimize the danger of extending to a different marketplace. Established players such as BASF SE invest in R&D operations to expand their business opportunities, enabling them to compete against other players. In October 2018, for example, BASF introduced the Dubai Science Park Research & Development center for building materials, which includes protective layers, tile fasteners, repair moths, waterproof membranes, sealants, ornamental flooring materials or covering parking facilities. The initiative was taken to promote product development operations of the company and to address the increasing building sector in GCC countries.
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