Construction Flooring Chemicals Market - Forecast (2024 - 2030)

Construction Flooring Chemicals Market Overview

Construction Flooring Chemicals Market size is forecast to reach US$7.2 billion by 2027 after growing at a CAGR of 4.2% during 2022-2027. Construction Flooring chemicals are one of the most important components of the modern-day construction industry. The major Construction flooring chemicals include poly methyl methacrylate, polyurethanes, epoxy,?and vinyl. They are utilized for the coverage of floors to enhance protection against various external factors that may affect their durability. Particularly, the?Epoxy Floor coating segment dominates the Flooring chemicals utilized in construction. These kinds of Flooring Chemicals offers a waterproofing solution, noise reduction effect, insulation, durability, dust binding, and an aesthetic appearance to the flooring. The market is expected to expand significantly, owing to the strong growth of commercial and industrial sectors and an increase in home improvement and renovation projects. On the other hand, Polyurethane Floor coating is used to coat wood flooring and other wood surfaces, such as wooden floors, wood-based flooring sheets, cabinets, and furniture. Vinyl is preferred for use in?residential kitchens and bathrooms, as well as in healthcare facilities, and commercial and retail establishments.?The increasing?growth of millennials and nuclear families as well as a rise in their disposable income towards capability in purchasing residential apartments in emerging markets is expected to promote the usage of such Construction flooring chemicals. Also, the expansion of producing facilities in developing nations is projected to expand the application of construction flooring chemicals over the forecast period.?However, high disposable income associated with the process is expected to booth the growth of the Construction Flooring Chemicals market.

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COVID-19 Impact

Currently, due to the COVID-19 pandemic, the core industries such as construction, infrastructure, and others are highly impacted. Reduced demand, lockdown, and absence of labor most of the construction projects of both infrastructure and commercial were shut down, which declined the production of Construction Flooring Chemicals. This can be attributed to significant disruptions experienced by their respective manufacturing and supply-chain operations as a result of various restrictions that were enforced by governing authorities across the globe. Moreover, consumer demand has also subsequently reduced as individuals are now more keen on eliminating non-essential expenses from their respective budgets as the general economic status of most individuals has been severely affected by this outbreak. These aforementioned elements are expected to burden the revenue trajectory of the global construction flooring chemicals market over the forecast timeline. Also, due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption for Construction Flooring Chemicals and thus, had declined in the building & construction sector in 2020-2021.

Report Coverage

The report: “Construction Flooring Chemicals Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Construction Flooring Chemicals Market.

By Product: Epoxy Floor Coating, Grout Chemicals, Admixtures Chemicals, Floor Hardeners, Curing and Sealing Compounds, Primers, Polyurethane Coating, and Others By Application: Industrial Flooring, Residential Flooring, Waterproofing, Repair and Protection, Anti-skid and Anti-slip Flooring and Others. By End-Use Industry: Building and construction (Residential (Independent Houses, Apartments, and Row Houses), Commercial (Office Building, Hospitals, Retailers, Hotel/Hospitality, Restaurants, Educational Institutions, and Others), and Industrial), Infrastructural ( Airports, Highways, and Others), and Others By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa)

Key Takeaways

• The Asia Pacific dominates the Construction Flooring Chemicals market, owing to the increasing innovations in the Asia-Pacific market is likely to act as an opportunity, in the future.
• Key factors driving the market include increasing demand for customized and money-efficient constructions, increasing investments in infrastructure, due to rapid urbanization and industrialization, and others.
• The fluctuation in the price of crude oil, which is an essential raw material for construction flooring chemicals is likely to remain a growth restraint for the market.
• In Asia-Pacific, China is one of the leading countries, emerged as a major Construction Flooring Chemicals consumer, due to strong government support, efforts toward standardization, and expanding application segments.

Construction Flooring Chemicals Market Segment Analysis – By Product

The Epoxy Floor Coating segment held the largest share of 32% in the Construction Flooring Chemicals market in 2021. The epoxy floor coating segment is widely applied in the building and construction of hotels, luxury residences, hotels, resorts, office buildings, and others.?There are various benefits that come with using an epoxy floor coating, compared to using other types of products for flooring. Most importantly, epoxy is popular for its highest strength composition in the industry. It provides a very strong bond between the reinforcement and the resin, which allows for the construction of the lightest part and most durable structures. Epoxy is usually preferred for its great dimensional stability and its mechanical properties. With proper curing, epoxy floor coatings provide good chemical and heat resistance, and very minimal shrinkage.?Epoxy resins used in floor coatings are a great option for repairs since they bond to dissimilar materials and previously cured materials. The bonding strength shown by epoxy floor coatings cannot be matched by other flooring coatings like vinyl ester or polyester. These are some of the major facts supporting the market growth for the Epoxy Floor Coating segment in the Construction Flooring Chemicals market during the forecast period.?

Construction Flooring Chemicals Market Segment Analysis – By Application

The Industrial Flooring segment occupied the largest share in the Construction Flooring Chemicals market in 2021 up to 38%, owing to increased industrial construction activities globally. For instance, according to the Civil Aviation Administration of China (CAAC), China plans to construct more than 230 new airports in their country while expanding many others in the next 15 years, hence opening great business opportunities. The floors in Industrial Flooring is one among the foremost essential component, and floor coating is that the most efficient and commonly used flooring option in residential, commercial, and industrial applications. Industrial flooring using flooring chemicals offers a highly resilient and sturdy work surface, perfectly fitted to the challenging operating conditions of the industrial environment. Flooring Chemicals is available in a wide selection of features from waterproofing, heat resistant, with anti-skid and anti-slip to heavy-duty industrial protection. The flooring chemicals provide a very seamless surface with greatly enhanced performance compared to the traditionally used concrete base on which it’s typically applied.

Construction Flooring Chemicals Market Segment Analysis – By End-Use Industry

The Building and Construction segment held the largest share in the Construction Flooring Chemicals market in 2021 and is growing at a CAGR of 8.5% during 2022-2027. Due to rapid urbanization, especially in?developing countries the demand for residential construction is increasing each day. According to Invest India, the Building and Construction Industry is expected to reach $1.4 Trillion by 2025. The market for Construction Flooring Chemicals in the residential segment has expanded globally, majorly in Asia-Pacific and other emerging economies. The demand for houses is above the availability in emerging nations, like South Africa. Moreover, the increase in demand for housing in urban areas has increased, and therefore the government’s National Infrastructural Plan is supporting this growth, with new projects expected within the future. The aforementioned factors are expected to drive the demand for Construction Flooring Chemicals, during the forecast period in the building and construction segment.?

Construction Flooring Chemicals Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the Construction Flooring Chemicals market in 2021 up to 43%, primarily due to the increase in income and population within the region. This has led to major growth in new construction projects in the region. China exhibits attractive opportunities for the Construction Flooring Chemicals market in the Asia Pacific due to the presence of some prominent innovators in the country, government support, raising awareness, and an expanding set of applications. The market in the Asia Pacific and some parts of North America is projected to expand significantly in the near future. Growth of the building and construction sector in these regions is projected to steer to a rise in demand for cost-effective building elements fabricated through Construction Flooring Chemicals techniques to enrich the several new infrastructure developments and building construction projects. For instance,?the Union Budget of 2020-2021 that was made by the Indian government, allocated US $6.85 billion (Rs. 50,040 crores) to the Ministry of Housing and Urban Affairs.?Increasing infrastructural activity in developing countries is that the major driving factor for the Asia-Pacific building and construction sector. In addition, the entry of major players from the European Union into the lucrative market of China has further fuelled the industry’s expansion. Thus, construction activity has been growing within the Asia-Pacific, which is predicted to steer the development of the Construction Flooring Chemicals market.

Construction Flooring Chemicals Market Drivers

Increase in the global infrastructure sector

Infrastructure is a crucial driver for the expansion of the economy of any region. Increasing urbanization plans in developing countries will help boost the infrastructure sector and simultaneously the construction flooring chemicals market. For instance, In Union Budget 2021, the Indian government has given a massive push to the infrastructure sector by allocating Rs. 233,083 crore (US$ 32.02 billion) to enhance the region's infrastructure. Increased spending on infrastructure features a multiplier effect on the general economic process because it demands industrial growth and manufacturing. This, in turn, steers the collective demand, by improving the living conditions of the people. According to the OCED organization, the present infrastructure spending at the worldwide level is USD 4.1-4.3 trillion per year between 2014 and 2050.

Growing demand for cheaper construction products

Construction flooring chemicals are preferably a low-cost?and durable option for people seeking out to save a lot of money during the construction process. Not just it helps to save material costs, but it also saves the renovation cost as well. There are certain chemicals that can completely protect from leakage and seepage, from the result of it, paint and concrete would be in tip-top shape. Therefore, being cost-efficient has driven the market growth for construction flooring chemicals.

Construction Flooring Chemicals Market Challenges

Increase in Drying Shrinkage

Drying shrinkage is contracting a hardened construction flooring chemical due to the loss of capillary water. This may cause an increase in tensile stress, which will eventually lead to?cracking, internal?warping, and external deflection. Additionally, all the waterproofing?admixtures?reduce the surface absorption and?water?permeability of the concrete by acting on the?capillary?structure of the cement paste, hence this led to drying shrinkage of the concrete. So, in the upcoming time drying shrinkage may become a matter of concern for the growth of construction flooring chemicals globally

Construction Flooring Chemicals Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. Construction Flooring Chemicals market top 10 companies include:

1. AkzoNobel 2. Basf 3. Borealis Ag 4. Dow Chemical 5. Dupont 6. Exxon Mobil 7. Forbo Holding 8. Huntsman Corp 9. LG Chemical 10. Lyondellbasell Industry