Floor Coatings Market: Size, Share, Demand Forecast Report 2030

Floor Coatings Market is boosted by increasing demand for floor coatings from end users such as commercial, residential, and industrial. The globalfloor coatings marketsize was accounted for $3.1 billion in 2020, and is expected to reach $5.5 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030, As per the published report by Allied Market Research.

Increase in demand for floor coatings from end users such as commercial, residential, and industrial and surge in demand for interior decoration have boosted the growth of the global floor coatings market. However, slippery characteristic of floor coating hinders the market growth. On the contrary, effective price strategy owing to rise in competition in the industry would unlock lucrative opportunities in the future.

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Rise in population, growth in construction industry, and increased demand from various end-users propels the growth of the floor coatings market. The infrastructure spending by the government and wide application scope of floor coatings generates rise in demand for floor coatings products. Moreover, the surge in infrastructure activities in the emerging countries positively impacts the market growth. The myriad of upcoming construction projects in the developed and developing countries are expected to provide lucrative opportunities for the global floor coatings market growth over the forecast period.

By region, the market across Asia-Pacific dominated in 2020, accounting for more than one-third of the market. In addition, the region is expected to register the highest CAGR of 7.3% during the forecast period, due to increase in populace, surge in middle-class income, rapid urbanization, and upcoming construction projects in the region. On the other hand, the global floor coatings market across North America is expected to showcase a CAGR of 4.5% from 2021 to 2030.

The floor coatings protect floors from stains, moisture, & cracks and deliver a smooth, high-performance, and durable surface that withstand heavy load and last for several years. These find applications in hospitals, warehouses, garages, manufacturing & industrial plants, commercial & retail stores, showrooms, and airplane hangars. The increased construction expenditure globally is thereby anticipated to create massive demand for floor coatings during the projection period. China, the US, India, Indonesia, Saudi Arabia, the U.K., and the UAE are among the major countries that contribute to the development of the global construction sector.

Furthermore, the construction industry in Asia-Pacific dominates the market and grows at a healthy rate due to the rise in populace, rapid urbanization, and increase in middle-class income. Further, various upcoming construction projects, including Atlanta Chattanooga High-Speed Rail Ground Transportation project, JKF International Airport redevelopment & expansion, and other projects, are expected to create ample growth opportunities for the floor coatings market in North America. These factors are anticipated to drive the floor coatings market growth during the forecast period.

Major market players

The Sherwin-Williams Company

BASF SE

ArmorPoxy

Akzo Nobel N.V.

Axalta Coating Systems, Ltd.

RPM International Inc.

PPG Industries, Inc

Sika AG3M

The Lubrizol Corporation

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.