The Global Floor Coatings Market size is expected to reach $5 billion by 2030, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 1086.32 kilo tonnes, experiencing a growth of 4.9% (2019-2022).
The seamless and high gloss finishes of epoxy coatings contribute to a professional and aesthetically pleasing appearance. Therefore, the Epoxy segment acquired 45.2% revenue share in 2022. The ability to customize epoxy coatings with different colors and patterns allows businesses to create a unique and branded environment. Epoxies are commonly used in residential applications, particularly for garage floors. The durability, stain resistance, and easy maintenance of epoxy coatings make them ideal for protecting garage surfaces from oil spills, chemicals, and abrasion.
The concurrent development of new residential, commercial, and industrial buildings generates a demand for it. Property developers and builders recognize the importance of providing durable and visually appealing flooring surfaces in newly constructed structures. Expanding industrial activities and constructing new manufacturing plants, warehouses, and logistics centers create a significant demand for industrial-grade products.
Additionally, Parking areas within automotive facilities, including manufacturing plants and showrooms, require it that protect against corrosion caused by vehicular traffic and exposure to the elements. Coatings with corrosion-resistant properties contribute to the longevity of parking area surfaces. Hence, rising adoption of the automotive sector has been a pivotal factor in driving the growth of the market.
However, the high initial costs associated with premium-quality can pose budgetary challenges for end-users, especially for small businesses, homeowners, or institutions with limited financial resources. Budget constraints may compromise the quality or scope of these projects. In residential applications, where cost considerations are significant, homeowners may hesitate to invest in high-cost floor coatings. Thus, high initial costs can slow down the growth of the market.
The seamless and high gloss finishes of epoxy coatings contribute to a professional and aesthetically pleasing appearance. Therefore, the Epoxy segment acquired 45.2% revenue share in 2022. The ability to customize epoxy coatings with different colors and patterns allows businesses to create a unique and branded environment. Epoxies are commonly used in residential applications, particularly for garage floors. The durability, stain resistance, and easy maintenance of epoxy coatings make them ideal for protecting garage surfaces from oil spills, chemicals, and abrasion.
The concurrent development of new residential, commercial, and industrial buildings generates a demand for it. Property developers and builders recognize the importance of providing durable and visually appealing flooring surfaces in newly constructed structures. Expanding industrial activities and constructing new manufacturing plants, warehouses, and logistics centers create a significant demand for industrial-grade products.
Additionally, Parking areas within automotive facilities, including manufacturing plants and showrooms, require it that protect against corrosion caused by vehicular traffic and exposure to the elements. Coatings with corrosion-resistant properties contribute to the longevity of parking area surfaces. Hence, rising adoption of the automotive sector has been a pivotal factor in driving the growth of the market.
However, the high initial costs associated with premium-quality can pose budgetary challenges for end-users, especially for small businesses, homeowners, or institutions with limited financial resources. Budget constraints may compromise the quality or scope of these projects. In residential applications, where cost considerations are significant, homeowners may hesitate to invest in high-cost floor coatings. Thus, high initial costs can slow down the growth of the market.
By End Use Analysis
By end-user, the market is segmented into residential, industrial, and commercial. The residential segment recorded 33.3% revenue share in the market in 2022. Basements are commonly subject to moisture and humidity issues. Floor coatings, particularly those with moisture-resistant properties, protect against potential water damage.
By Application Analysis
On the basis of application, the market is divided into concrete, wood, terrazzo, and others. The wood segment garnered 25.9% revenue share in the market in 2022. Wood creates a resistant surface that repels liquids and stains. This is particularly important in areas prone to spills, such as kitchens and dining spaces.By Product Analysis
By product, the market is categorized into epoxy, polyaspartic, polyurethane, acrylic, and methyl methacrylate. The polyaspartic segment procured 26.6% revenue share in the market in 2022. Polyaspartic coatings resist various chemicals, including oils, solvents, and cleaning agents. This chemical resistance makes them suitable for use in environments where exposure to various substances is common, such as manufacturing facilities and garages.By Component Analysis
Based on component, the market is classified into single component, double component, triple component, and others. In 2022, the double component segment witnessed 65.3% revenue share in the market. Double components are versatile and can be applied to various substrates, including concrete, metal, and certain existing coatings.By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired 25.3% revenue share in the market. North America has been experiencing ongoing construction and infrastructure development, like residential, commercial, and industrial projects.Recent Strategies Deployed in the Market
- 2024-Feb: BASF SE came into partnership with INEOS Automotive, a vehicle manufacturing company in England. Through this partnership, BASF SE would enhance provision of sustainable refinishing solutions, expert guidance, and state-of-the-art digital color-matching solutions and training.
- 2023-Dec: Arkema S.A. took over Arc Building Products, a wholesale building materials manufacturing company. Through this acquisition, Arkema S.A. would enhance its presence in Ireland's expanding construction adhesives market by offering a more extensive array of solutions and establishing a local manufacturing footprint.
- 2023-Oct: Arkema S.A. came into partnership with EOS, a personal care product company and Stratasys, an additive manufacturing company. Through this partnership, Arkema S.A. would develop the succeeding iteration of 3D printed materials and solutions.
- 2023-Aug: DuPont de Nemours, Inc. took over Spectrum Plastics Group Inc, medical equipment manufacturing company. Through this acquisition, DuPont de Nemours, Inc. would enhance its range of offerings for vital healthcare applications, driven by customer-centric innovation.
- 2022-Mar: BASF SE came into partnership with WorldSkills, an international charity that organizes world and national championships for vocational skills. Through this partnership, BASF SE would enhance the automotive refinishing industry and reinforce the company's backing for the upcoming WorldSkills Competition.
List of Key Companies Profiled
- Akzo Nobel N.V.
- Arkema S.A.
- DuPont de Nemours, Inc.
- 3M Company
- Tennant Company
- BASF SE
- PPG Industries, Inc.
- The Dow Chemical Company
- Koninklijke DSM N.V.
- RPM International, Inc.
Market Report Segmentation
By End-User (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Industrial
- Residential
- Commercial
- Concrete
- Wood
- Terrazzo
- Others
- Epoxy
- Polyurethane
- Polyaspartic
- Acrylic
- Methyl Methacrylate
- Double Component
- Single Component
- Triple Component
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Floor Coatings Market by End-User
Chapter 6. Global Floor Coatings Market by Application
Chapter 7. Global Floor Coatings Market by Product
Chapter 8. Global Floor Coatings Market by Component
Chapter 9. Global Floor Coatings Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Akzo Nobel N.V.
- Arkema S.A.
- DuPont de Nemours, Inc.
- 3M Company
- Tennant Company
- BASF SE
- PPG Industries, Inc.
- The Dow Chemical Company
- Koninklijke DSM N.V.
- RPM International, Inc.
Methodology
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