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Floor Coatings Market Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2027

Companies covered in the floor coatings market are Kansai Paint Co., Ltd (Osaka, Japan), DSM (Heerlen, Netherlands), ADCOS NV (Malle, Belgium), Asian Paints Ltd. (Mumbai, India), The Sherwin-Williams Company (Ohio, U.S.), BASF SE (Ludwigshafen, Germany), PPG Industries, Inc. (Pennsylvania, U.S.), Tennant Coatings (Minneapolis, U.S.), Nippon Paint Holdings Co. (Singapore), Jotun (Sandefjord, Norway), Akzo Nobel N.V. (Amsterdam, Netherlands), RPM International Inc. (Ohio, U.S.),and more players pr


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According
to Fortune Business Insights™, the global
floor
coatings market

size is projected to reach USD 4,734.9 million by 2027, exhibiting a CAGR of
7.8% during the forecast period. Rising preference for sustainable flooring
solutions will be a central factor driving the growth of this market, as shares
in its report.



With
growing pollution from buildings and infrastructures in urban areas, consumers
are showing an increasing inclination towards adopting flooring products that
have low levels of volatile organic compounds (VOCs) and low carbon emissions.
As a result, several floor coating manufacturers are developing sustainable
flooring solutions to meet this changing consumer behavior. For example,
Ecoflor, a UK-based flooring company, has developed Smooth PU (polyurethane)
and Liquid Vinyl floors that have long life expectancy and can be re-sealed or
modified within premises. As a result, these floors are not only sustainable
but are also cost-effective. Similarly, US-based Liquid Floors has been
offering green epoxy floor coatings that have zero VOC content. Thus, the
widening availability of green floor coatings will hugely benefit the growth of
this market.



 



As
per the report, the global market value stood at USD 2,687.7 million in 2019.
The report also provides the following:




  • A comprehensive
    evaluation of the various market drivers and trends;

  • Granular
    analysis of the challenges facing the market;

  • Careful
    segmentation of the market; and

  • In-depth study
    of the competitive milieu and regional prospects of the market.



 



List
of Key Companies Profiled in the Floor Coatings Market Report:




  • Kansai Paint
    Co., Ltd (Osaka, Japan)

  • DSM (Heerlen,
    Netherlands)

  • ADCOS NV (Malle,
    Belgium)

  • Asian Paints
    Ltd. (Mumbai, India)

  • The
    Sherwin-Williams Company (Ohio, U.S.)

  • BASF SE
    (Ludwigshafen, Germany)

  • PPG Industries,
    Inc. (Pennsylvania, U.S.)

  • Tennant Coatings
    (Minneapolis, U.S.)

  • Nippon Paint
    Holdings Co. (Singapore)

  • Jotun
    (Sandefjord, Norway)

  • Akzo Nobel N.V.
    (Amsterdam, Netherlands)

  • RPM International
    Inc. (Ohio, U.S.)



 



The
slowdown in Construction Activities Worldwide amid COVID-19 to Hinder Market
Progress



Central
to the factors boosting the floor coatings market growth is the booming demand
for construction, especially in the developing economies of India and China.
According to Oxford Economics, for instance, 57% of the global growth in the
construction industry will be led by India, China, and the US by 2030. However,
the outbreak of the COVID-19 pandemic has dampened the energies of the
construction industry.



A
recent survey by the Royal Institution of Chartered Surveyors in the UK
revealed that on-site productivity at construction sites is expected to fall by
12%, while only 20% of the stalled projects are predicted to restart amid the
pandemic. Contracting construction operations will have a direct bearing on the
market for floor coatings as these materials are extensively deployed in
residential and commercial spaces. With construction projects being executed
with a reduced workforce and social distancing measures, the bounce-back of the
construction industry is anticipated to be sluggish.



 



Regional
Insights



Governmental
Support to Construction Projects to Propel the Asia Pacific Market



At
USD 1,136.4 million, Asia Pacific dominated the floor coatings market share in
2019 on account of the strong support from the governments in the region to
construction activities and infrastructural development. The policies are
particularly geared towards promoting and building sustainable urban infrastructures
since urban populations in countries such as India and China are rapidly
expanding. 



The
market in North America is slated to experience stable growth on account of the
widespread presence of globally-recognized flooring manufacturers in the
region. Moreover, advanced floor coatings are being speedily adopted by
manufacturing plants across the US and Canada to ensure the safety of workers
in these spaces. In Europe, on the other hand, the high purchasing power of
consumers is encouraging the adoption of more sophisticated and premium
flooring solutions, which is creating numerous opportunities for market players
in the region.



 



 



Competitive
Landscape



Strategic
Product Releases & Acquisitions to Energize Market Competition



Key
players in this market are developing and strategically launching products to
expand their footprint in the floor coatings domain. In addition, to further
strengthen their market position and gain a tactical edge, companies are
increasingly entering into agreements to acquire fellow competitors.



 



Detailed
Table of Content




  • Introduction




  • Executive
    Summary

  • Market Dynamics




  • Market Drivers

  • Market
    Restraints

  • Market
    Opportunities

  • Emerging Trends




  • Key Insights


  • Qualitative
    Insights – Impact of COVID-19 on Global Floor Coatings Market



TOC
continued



 



Key
Industry Developments:




  • September
    2020: PPG
    Industries introduced a comprehensive line of floor coating offerings,
    which includes, top coats, base coats, and prime coats. The products are
    designed according to the working environment, thus ensuring their optimum
    performance.

  • August 2020: Nippon
    Paint Holdings purchased 100% stake in the Australia-based paint company,
    Dulux Group Ltd, for an estimated value of 291.7 billion yen. Nippon
    Paints aims at broadening its business horizons across Australia and New
    Zealand with this acquisition.



 



Browse
Detailed Summary of Research Report:



https://www.fortunebusinessinsights.com/floor-coatings-market-102341



 



About
Us:



Fortune
Business Insights™ delivers
accurate data and innovative corporate analysis, helping organizations of all
sizes make appropriate decisions. We tailor novel solutions for our clients,
assisting them to address various challenges distinct to their businesses. Our
aim is to empower them with holistic market intelligence, providing a granular
overview of the market they are operating in.



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