The India floor coatings market accounted for revenue of $56,000 thousand in 2017 and is anticipated to generate revenue of $91,129.8 thousand by 2025. This market is projected to grow at a CAGR of 6.0% from 2018 to 2025.
Floor coatings are resinous solutions that are used to increase the durability of concrete, tiles, wooden floors, carpets, vinyl, and others. Floor is subjected to greatest amount of damage and thus, requires protection and careful consideration during new construction and refurbishment projects. Floor coatings prevent the floor from damages such as thermal shocks, abrasions, corrosions, and chemical attacks. They consist of sealers and sealants to protect the surface from oxidation and moisture, respectively. They also contain one or more liquid resins that are mixed with aggregates, powders, and decorative materials at the time of application, giving them a highly finished and utilitarian appearance. Other operational advantages of floor coatings are waterproofing, puncture resistance, slip resistance, and microbial protection. They are used across industries such as commercial retail stores, medical & healthcare facilities, aviation & transportation, correctional facilities, educational institutes, restaurants, and others.
The growth of the India floor coatings market is driven by increase in demand from several end-use industries such as construction, industrial, and others. For instance, the Indian market is full of epoxy and polyurethane-based products. Epoxy floor coatings have been gaining prominence in the Indian market due to their ability to provide versatile benefits in terms of aesthetics, performance, and long term durability. However, increase in competition from substitutes is expected to hamper the growth of this market.
Several existing cities and mostly smaller cities and towns are witnessing a boom in housing projects, hospitals and office spaces owing to the Smart City Mission by the Indian government, which fuels the demand for paints & coatings in the country. This creates lucrative opportunities for the floor coatings market.
The India floor coatings market is segmented based on binder type, coating component, floor structure, end-use, and region. Based on binder type, it is categorized into epoxy, thermoplastic, thermoset, and others. By coating component, the market is divided into one-component (1K), two-component (2K), and three-component (3K). Based on floor structure, it is classified into wood, terrazzo, mortar, and others. By end-use, it is classified into residential, commercial, and industrial.
By region, the market is studied across North India, East India, South India, and West India. Some of the major players analyzed in this report are Flowcrete India, AkzoNobel N.V., DowDuPont, The Arkema Group, Asian Paints Ltd., Kansai Nerolac Paints Limited, Sika AG, British Paints, 3M, and Indigo Paints.
Key Benefits for India Floor Coatings Market:
Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
This report outlines the current trends and future scenario of the market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
Major states are mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of the key players along with their key strategic developments are enlisted in the report.
India Floor Coatings Key Market Segments:
By Binder Type
Epoxy
Thermoplastic
Thermoset
Others
By Coating Type
One component (1k)
Two component (2k)
Three component (3k)
By Floor Structure
Wood
Terrazzo
Mortar
Others
By End Use
Residential
Commercial
Industrial
By Region
North India
East India
West India
South India
Table of Contents
Executive Summary
According to this report titled 'India Floor Coatings Market by Binder Type, by Coating Type, by Floor Structure, by End Use, and by Region: Opportunity Analysis and Industry Forecast, 2018 - 2025,' the India floor coatings market accounted for revenue of $56,000 thousand in 2017 and is anticipated to generate revenue of $91,129.8 thousand by 2025. The India floor coatings market is projected to grow at a CAGR of 6.0% from 2018 to 2025.Floor coatings are gaining increased importance in the residential, commercial, and industrial sectors, as floors are an essential part of a construction that experience damages such as spillage; abrasion; and exposure to dust, chemicals, heavy load, and UV light. Major manufacturers focus on advancement in technology for the development of eco-friendly products. Epoxy floor coating is a major binder type used across all the major industries in the India floor coatings market.
The factors that drive the growth of the India floor coatings market include rise in awareness related to the benefits provided by the floor coatings in industrial, commercial, and residential spaces and development of floor coatings in compliance to the environment.
The use of metallic epoxies for garage and other commercial floor spaces is the latest trend in the commercial floor coatings market, as they provide high-gloss, metallic finish, which enhance the look of the floor. Moreover, these floor coatings exhibit prolonged durability and resist abrasion. Also, they are easy to maintain. Imparting aesthetic appearance to the indoor spaces, which further facilitate their adoption in the India floor coatings market. Such innovation and product development shift the use of traditional floor coatings toward new advanced floor coating solutions.
Rapid urbanization in India leads to upsurge in civil construction activities, which is a key factor that promotes the usage of floor coatings in the residential, commercial, and industrial.
The India floor coatings market is segmented based on binder type, coating component, floor structure, end use, and region. Based on binder type, it is categorized into epoxy, thermoplastic, thermoset, and others. By coating component, the market is classified into one-component (1K), two-component (2K), and three-component (3K). Based on floor structure it is classified into wood, terrazzo, mortar, and others. By end use it is classified into residential, commercial, and industrial. By region, the market is studied across North India, East India, South India, and West India.
The key players analyzed in India floor coatings market are Flowcrete India, AkzoNobel N.V., DowDuPont, The Arkema Group, Asian Paints Ltd., Kansai Nerolac Paints Limited, Sika AG, British Paints, 3M, and Indigo Paints.
According to Onkar Sumant, Manager, Chemical and material, the India floor coatings market is heading toward growth expansion phase over the coming years. Present levels of urban infrastructure are insufficient to meet the demands of the existing urban population. There is a need for re-generation of urban areas in existing cities and the creation of new, comprehensive smart cities to meet the demands of increasing population and migration from rural to urban areas. Future cities of India will require smart real estate and urban infrastructure. These factors are anticipated to boost the growth of the market during the forecast period.
Key Findings of the India Floor Coatings Market:
Epoxy in the binder type segment dominated the India floor coatings market with a revenue share of over 38% in 2017
South India is projected to grow at a highest CAGR of nearly 6.4%, in terms of revenue, during the forecast period
The residential segment dominated the end user segment with more than one-third share in 2017
The qualitative data in this report aims on the market dynamics, trends, and developments in the industry while the quantitative data provides information of the India floor coatings market size in terms of revenue
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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