Floor Coatings Industry Status and Trend Report by 2025

According to a report by Grand View Research, Inc., the FloorCoatings Market is poised to rise to a valuation of USD 3.9 billion and is projected to witness a CAGR of 6.6 % by 2025. Increasing use of these coatings in industrial, residential, and commercial applications and growing construction industry are the factors driving the growth of the market.

The rising demand from multinational companies and huge businesses for decorative floor coatings is propelling the market demand across the globe. Rising use of floor coatings in the food industry is also anticipated to fuel the demand for the market in the years to come.

Architectural coatings that imitate the sun radiant heat is an innovative product expected to generate and boost the demand for the market in the years to come. Along with innovation, cost, quality, design, and color are the key factors propelling the market development. On the other hand, the rising risk of alternatives such as carpet, tiles, and bamboo flooring is estimated to hinder the floor coatings growth over the years to come.

Manufacturers of floor coatings are concentrating on enhancing the supply chain starting from the raw material traders to third-party providers. In 2016, BAFS introduced Ucrete MF40AS, heavy-duty anti-static industrial flooring system, in the European marketplace. In addition, the approach was to improve the product range of chemical solutions for the construction industry. The Epoxy layers is a widely chosen technology on account of rising floor coatings market demand, its quick adhesive property, and high durability.

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Furthermore, demand for concrete floor coatings is also an emerging trend in the market. Concrete has become one of the most viable materials for flooring in modern houses. Currently, this flooring can be easily found in the stained or polished forms, in houses. Concrete flooring finds application everywhere including bathrooms, kitchen, foyer, basement, garage, entry, etc.

Asia Pacific was one of the leading regional sectors in 2018, followed by Europe, and is driven by rising product demand from commercial, industrial, and residential sectors. Asia Pacific region is anticipated to account for a substantial share of the overall market over the forthcoming period. In addition, China led the market in terms of both revenue and volume in the Asia Pacific region.

The key participants in the floor coatings market are Akzo Nobel N.V.; PPG Industries, Inc.; BASF SE; Kansai Paint Co., Ltd.; Axalta Coating System; Sherwin-Williams Company; and RPM International, Inc.

About Grand View Research:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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