Floor Coatings Market Research – 2030
The global floor coatings market size was valued at $3.1 billion in 2020 and is projected to reach $5.5 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030. The increased focus on floor maintenance and longevity is a key factor driving the growth of the floor coating market. Businesses and property owners are increasingly recognizing the importance of investing in high-quality floor coatings that extend the lifespan of their flooring systems and reduce overall maintenance costs.
Introduction
Floor coatings are specialized surface treatments applied to floors in residential, commercial, and industrial environments to enhance durability, appearance, and functionality. These coatings are typically composed of materials such as epoxy, polyurethane, polyaspartic, and acrylic, which are chosen for their specific properties, such as resistance to wear, chemical spills, moisture, and UV damage. Floor coatings are designed to protect the underlying substrate, whether it is concrete, wood, or other flooring materials, from daily wear and tear, heavy traffic, abrasions, and environmental stressors.
In addition to their protective qualities, floor coatings serve aesthetic purposes by improving the visual appeal of a space. Available in a variety of colors, finishes, and textures, they can be customized to meet design requirements while offering slip-resistant surfaces for enhanced safety. Industrial and commercial spaces, such as factories, warehouses, hospitals, and retail outlets, often utilize floor coatings to ensure durability, hygiene, and compliance with safety regulations.
Market Dynamics
Rise in focus on floor protection and durability is a key factor for driving the growth of the floor coatings market. As businesses, industrial facilities, and homeowners seek to protect their flooring investments, the need for coatings that provide long-term protection from wear and tear has grown significantly. In high-traffic areas, such as factories, warehouses, retail spaces, and commercial buildings, floors are subject to constant stress from foot traffic, machinery, and environmental factors such as moisture, chemicals, and temperature changes. Floor coatings designed to resist these challenges help extend the life of the underlying flooring, reducing the need for frequent repairs and replacements. This results in cost savings over time, making durable floor coatings an attractive investment. All these factors are expected to drive the growth of the floor coating market during the forecast period.
However, the application of floor coatings, particularly in industrial and commercial settings, often involves substantial upfront costs due to the need for skilled labor, specialized equipment, and preparatory work, such as cleaning and repairing the existing floor substrate. For many businesses, these initial expenses can be prohibitive, especially in smaller operations or companies with limited budgets. In addition, the costs associated with ongoing maintenance, such as periodic reapplication or surface repairs, add to the financial burden, discouraging some potential users from adopting high-performance floor coatings. All these factors hamper the growth of the global floor coatings market during the forecast period.
The growing popularity of anti-slip and anti-microbial floor coatings is creating significant opportunities in the floor coating market, particularly as industries and consumers prioritize safety and hygiene in their spaces. In sectors such as healthcare, food processing, pharmaceuticals, and hospitality, maintaining a hygienic environment is crucial to prevent the spread of harmful bacteria and viruses. Anti-microbial floor coatings are designed to inhibit the growth of microbes, ensuring that floors remain cleaner for longer periods, which helps reduce the need for frequent cleaning and lowers the risk of contamination. All these factors are anticipated to offer new growth opportunities for the global floor coatings market during the forecast period.
Market Segmentation
The floor coatings market is segmented on the basis of floor structure, end user, binder type, coating component, and region. On the basis of floor structure, the market is segmented into concrete, mortar, terrazzo, wood, and others (carpet, basic tiling, and vinyl sheets). The end user segment of the market is broadly classified into residential, commercial, and industrial. On the basis of binder type, the market is segmented into epoxy, acrylic, polyurethane, methyl methacrylate, and others. The coating component of the market is categorized into single component, double component, and triple component. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Floor Coatings Market, By Region
Floor Coatings Market
By Region 2030 Asia-pacific North America Europe LAMEA Asia- Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By Region
Asia- Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Asia-Pacific dominates the floor coatings market and consists of countries, such as China, India, Japan, South Korea, Australia, and rest of Asia-Pacific. Growth in commercial and residential construction activities in the region has stimulated the demand for floor coatings. Rise in population and surge in disposable income of the populace in the emerging countries have fueled the market growth in the past few years. Moreover, the consumption of floor coatings has witnessed positive strides in India and China and the construction industry in the region has been rising rapidly, with augmented investment by the government. For instance, according to Invest India, The Real Estate Industry in India is anticipated to reach $1 trillion by 2030 and is likely to contribute 13% to India’s GDP. Moreover, in India, numerous initiatives implemented by the Indian government, including the Smart City project and Housing for All by 2022 are projected to provide impetus to the country’s construction industry. Consequently, the growth of these construction activities is expected to have a positive influence on the growth of the floor coating market.
Floor Coatings Market, By Floor Structure
By Floor Structure
Concrete is projected to be the dominating segment.
The concrete segment dominates the global floor coatings market. The floor coatings on concrete floors have a sleek appearance and are therefore absorbed into the working area. The factors such as the excellent durability of concrete, its lower cost, and its tensile strength make it an extensively utilized material for the construction of industrial, residential, and commercial floors.
Floor Coatings Market, By End User
By End User
Residential is projected to be the dominating segment.
The residential segment dominates the global floor coatings market on account of the durability and longevity of floor coating. The floor coatings are widely used in garages, laundry rooms, pool areas, and others to offer flooring with maximum durability, easy cleaning, and possible slip resistance.
Floor Coatings Market, By Binder Type
Floor Coatings Market
By Binder Type Epoxy is projected to be the dominating segment.
By Binder Type
Epoxy is projected to be the dominating segment.
Epoxy holds the highest share and is the fastest growing segment since epoxy based floor coatings are widely utilized in resurfacing applications and in covering stains.
Floor Coatings Market, By Coating Component
By Coating Component
Double component is projected to be the dominating segment.
The double component segment dominates the global floor coatings market. The double component coating is utilized to define a coating that needs to be mixed with an activator, hardener, or catalyst. Once it hardens, it produces high resistance to chemicals, weather, or UV rays. The growth in demand for double component coating is attributed to the substantial demand for anti-corrosion products from multiple end-use sectors. The double component coating has superior durability, high corrosion resistance, and excellent resistance against chemicals such as inorganic and organic alkali petroleum products and acids.
Competitive Landscape
The key players profiled in the floor coatings market report include BASF SE; The Sherwin-Williams Company; Akzo Nobel N.V., ArmorPoxy, RPM International Inc.; Axalta Coating Systems, Ltd., Sika AG, PPG Industries, Inc., 3M, and The Lubrizol Corporation.
The other companies operating in the floor coatings industry include Ardex Endura, Grand Polycoats Company Pvt. Ltd, Key Resin Company, Apurva India Ltd., A & I Coatings, Milliken & Company, Michelman Inc., and others. These companies compete for the share of the market through product launch, joint venture, partnership, and expansion of their production capabilities to meet the future demand for the floor coatings market during the forecast period.
Key benefits for stakeholders
This report provides a detailed quantitative analysis of the current floor coatings market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of floor coating market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global floor coatings market.
Floor Coatings Market Report Highlights
| Aspects | Details |
 By Floor Structure |
|
 By End User |
|
 By Binder Type |
|
 By Coating Component |
|
 By Region |
|
 OTHER KEY PLAYERS IN THE MARKET VALUE CHAIN INCLUDE | Ardex Endura, Grand Polycoats Company Pvt. Ltd, Key Resin Company, Lubrizol, Apurva India Ltd., A & I Coatings, Milliken & Company, Michelman Inc. |
Analyst Review
Increased population, rise in industrialization, growth in the construction industry, and surge in usage of coating materials in industrial flooring applications are some of the key factors that drive the growth of the floor coatings market. The use of floor coatings witnessed quite a notable growth in the past years, owing to its resistance to oil stains & water and exceptional abrasion, anti-static, waterproof, anti-vibration, and anti-skid properties.
The favorable government initiatives and growth in investment in infrastructural growth raise the demand for floor coatings. Moreover, economic growth across the world drives industrialization and urbanization, which has a favorable impact on the floor coatings market. Furthermore, augmentation in construction activities, such as the construction of new hotels and restaurants provides substantial growth opportunities for the floor coatings market. For instance, as per India Brand Equity Foundation, FDIs in the construction development sector and construction activities in India were valued at US$ 26.14 billion and US$ 25.38 billion, respectively, between April 2000 and June 2021.
Asia-Pacific is the leading regional market for the floor coatings market owing to major infrastructure investments in India and China. China is likely to remain the largest construction market throughout 2022, surpassing global average growth rates to reach about US$ 1.4 trillion by 2030. In addition, majority demand for floor coatings in Asia-Pacific is anticipated to be driven by increased population along with surge in disposable income of people in the emerging economies.
Increased globalization, growth in population, growing construction industry, and growth in demand from end-users such as commercial, industrial, and residential are the key factors boosting the growth of floor coatings market.
The surge in infrastructure spending worldwide offers lucrative growth opportunities for the floor coatings market.
The most established players of the global floor coatings market are BASF SE, Akzo Nobel NV, Tambour, The Dow Chemical Company, The Arkema Group, The Sherwin Williams Company Inc., Maris Polymers, Nora Systems Inc., Asian Paints PPG Pvt. Ltd., and RPM Internationals Inc.
Based on floor structure, concrete segment is anticipated to hold the largest share of the floor coatings market during the forecast period.
The floor coatings market is segmented on the basis of floor structure, end user, coating component, and geography. On the basis of floor structure, the market is segmented into concrete, mortar, terrazzo, wood, and others (carpet, basic tiling, and vinyl sheets). The end user segment of the floor coatings market is broadly classified into residential, commercial, and industrial. The coating component of the market is categorized into single component, double component, and triple component. On the basis of geography, the floor coatings market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Increasing demand for highly durable coatings in order to protect floors from cracks is the key driver of floor coatings market.
Based on end user, residential segment is anticipated to hold the largest share of the floor coatings market during the forecast period.
Asia-Pacific region is anticipated to dominate the floor coatings market during the forecast period.
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