Floor Coatings - World Market Growth, Trends and Forecasts (2019-2024): Demand for Concrete Floor Coatings to Boost the Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 1, 2019--The “Floor Coatings Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The market for floor coatings is expected to grow at a CAGR of 6.15 % during the forecast period of 2019-2024.
One of the major factors driving the market studied is the number of increasing housing construction activities in the emerging economies of Asia-Pacific. There are strict regulations on VOCs released for floor coatings.
The demand for floor coatings from industrial coatings dominated the market in 2017 and is expected to grow during the forecast period, owing to the increasing demand from the chemical industry.
The promising performance of polyaspartic coatings is likely to act as an opportunity in the future.
Asia-Pacific dominated the market across the globe, with the largest consumption from China and India.
Key Market Trends
Demand for Concrete Floor Coatings to Boost the Market
Concrete has become one of the viable materials for flooring in modern houses. Presently, concrete flooring can be easily found in the polished, stained, or etched form in houses.
In houses, concrete flooring finds application almost everywhere, including in the kitchen, bathroom, basement, entry, foyer, mudroom, bathroom, garage, etc.
Apart from residential applications, concrete is also widely used in commercial areas. For instance, in retail stores, offices, restaurants and bars, schools, churches, medical institutions, and industrial buildings.
Concrete flooring has certain benefits, such as unlimited designs and patterns, extreme durability, very low maintenance demand, stain resistance, etc.
Floor coatings serve as a sealer on the concrete. The application of coating helps avoid seepage, staining, and cracking of concrete. Additionally, it reduces allergens by avoiding the growth of microorganisms, which may develop on the floor due to seepage or spillage.
Asia-Pacific to Dominate the Market
Asia-Pacific dominated the global market share in 2017. Increasing housing construction activities in the emerging economies of Asia-Pacific have also hugely contributed to the growth of the market studied.
Despite volatile growth in the real estate sector, significant development of rail and road infrastructure by the Chinese government (in order to withstand demand from the growing industrial and service sectors) has resulted in the robust growth of the Chinese construction industry, in the recent years.
As the construction industry is dominated by state-owned and private enterprises, increased government and private expenditure in this regard is pushing the industry toward global primacy. In recent years, the entry of major construction players from the European Union, in China, has further boosted the growth of this industry.
The construction sector in India has been growing rapidly, with increased investment by the government. The Indian government’s Housing for All by 2022′ is also a major game changer for the industry.
A cumulative total of USD 24.67 billion in foreign direct investment was made toward construction activities (including townships, built-up infrastructure, and construction-development projects) in the country, between April 2000 and December 2017. Such factors are, in turn, boosting the demand for floor coatings in the region.
The global floor coatings market is fragmented, with the top 10 players accounting for around one-third of the revenue share. The top companies in the market include Sika, The Sherwin-Williams Company, PPG Industries, and AkzoNobel.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from the Power Industry
4.1.2 Increase in Demand for Desalination Activity
4.1.3 Increase in Demand from the Chemical Industry
4.2.1 Stagnant Industrial Growth in Developed Countries
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Regulatory Policy Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.5 Other Product Types
5.2 Floor Material
5.2.3 Other Floor Materials (Stone, Granite, Tiles)
5.3 Coatings Component
5.3.1 One-component (1K)
5.3.2 Two-component (2K)
5.3.3 Three-component (3K)
5.3.4 Other Components (4K, 5K, etc.)
5.4 End-user Industry
184.108.40.206 Parking Lots
220.127.116.11 Retail Outlets
18.104.22.168 Other Commercial Industries
22.214.171.124 Chemical Industry
126.96.36.199 Food and Beverage Industry
188.8.131.52 Other Industries
5.5.2 North America
5.5.4 South America
5.5.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel N.V.
6.4.3 Asian Paints PPG Pvt. Ltd.
6.4.4 BASF SE
6.4.6 Henkel AG & Co. KGaA
6.4.8 Kansai Nerolac Paints Limited
6.4.9 LATICRETE International Inc.
6.4.11 Maris Polymers
6.4.12 NIPSEA Group (Nippon Paint)
6.4.13 PPG Industries Inc.
6.4.14 RPM International Inc. (Flocrete)
6.4.15 Sika AG
6.4.16 StoCretec GmbH
6.4.18 Teknos Group
6.4.19 The Sherwin-Williams Company
6.4.20 Tikkurila Oyj
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Popularity of Eco-friendly Bio-based Floor Coatings
7.2 Promising Performance of Polyaspartic Coatings
For more information about this report visit https://www.researchandmarkets.com/research/4ppnr2/floor_coatings?w=4
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Related Topics:Paints and Coatings
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 04/01/2019 12:26 PM/DISC: 04/01/2019 12:26 PM