Asia-Pacific Floor Coatings Market Size (2024 - 2029)

The Asia-Pacific Floor Coatings market is experiencing growth, having recovered from the COVID-19 impact and returning to pre-pandemic levels. The market size is being driven by increasing construction activities, particularly in China, and a rising demand from the industrial sector, especially the chemical industry. However, growth is somewhat constrained by strict regulations on VOC emissions from floor coatings. Despite these challenges, the demand for environmentally friendly floor coatings presents opportunities for further market expansion.

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Market Size of Asia-Pacific Floor Coatings Industry

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Asia-Pacific Floor Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

Asia-Pacific Floor Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Floor Coatings Market Analysis

The Asia-Pacific Floor Coatings market is expected to reach around USD 5,240 million by the end of this year. It is projected to register a CAGR of more than 6% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.

  • Increasing building and construction activities in China are likely to drive market growth.
  • The demand for floor coatings from the industrial sector is expected to dominate the market studied, and it is expected to grow during the forecast period due to the increasing demand from the chemical industry.
  • Conversely, strict regulations on VOCs released for floor coatings hinder the market growth.
  • The Rising demand for environment-friendly floor coatings is expected to act as an opportunity to drive the market in the coming years.
  • In Asia-Pacific, China dominates the market with the most significant consumption of Floor Coating.

APAC Floor Coatings Industry Segmentation

Floor coatings are durable, protective layers applied to surfaces subjected to extreme wear or corrosion. Warehouses, chemical plants, and production floors are examples of typical applications-resin Type, Floor Material, End-User Industry, and Geography segment of the market. By Resin Type, the market is segmented into epoxy, polyaspartics, acrylic, polyurethane, and other resin types (polyester, vinyl ester). By Floor Material, the market is segmented into wood, concrete, and other floor materials. End-User Industry segments the market into Industrial, Decorative, and Car Parks. By Geography, the market is segmented into China, India, Japan, South Korea, ASEAN, and the Rest of Asia-Pacific. The report also covers the market sizes and forecasts for the floor coatings market in 4 countries. The report offers market size and forecasts for revenue (USD million) for all the above segments.

Resin Type
Epoxy
Acrylic
Alkyd
Polyurethane
Polyaspartics
Other Resin Type
Floor Material
Wood
Concrete
Other Floor Materials
End-User Industry
Industrial
Decorative
Car Parks
Geography
China
India
Japan
South Korea
ASEAN
Rest of Asia-Pacific
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Asia-Pacific Floor Coatings Market Size Summary

The Asia-Pacific floor coatings market is experiencing a resurgence, having rebounded to pre-pandemic levels and is poised for steady growth. This growth is primarily driven by the surge in building and construction activities, particularly in China, which is a dominant player in the region. The industrial sector, especially the chemical industry, is expected to lead the demand for floor coatings, supported by rapid industrialization and the establishment of manufacturing plants in countries like China, Japan, and South Korea. However, the market faces challenges due to stringent regulations on volatile organic compounds (VOCs) emitted by floor coatings. Despite these challenges, the increasing demand for environmentally friendly floor coatings presents significant opportunities for market expansion.

China's robust construction industry, coupled with its significant chemical market, underpins the demand for floor coatings. The expansion of residential and commercial construction, along with initiatives to promote low-cost housing, further fuels this demand. The food and beverage sector also contributes to the market's growth, necessitating durable floor coverings to prevent microbial contamination. The market is characterized by fragmentation, with no single company holding a significant share. Key players such as SIKA AG, The Sherwin-Williams Company, PPG Industries Inc., RPM International Inc., and Akzo Nobel NV are actively involved in the market, with recent developments including new product launches and strategic acquisitions to enhance their market presence.

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Asia-Pacific Floor Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Building and Construction Activities in China

      2. 1.1.2 Growing Demand for Floor Coatings in the Industrial Applications

      3. 1.1.3 Other Drivers

    2. 1.2 Market Restraints

      1. 1.2.1 Strict Regulations on VOCs Released for Floor Coatings

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Acrylic

      3. 2.1.3 Alkyd

      4. 2.1.4 Polyurethane

      5. 2.1.5 Polyaspartics

      6. 2.1.6 Other Resin Type

    2. 2.2 Floor Material

      1. 2.2.1 Wood

      2. 2.2.2 Concrete

      3. 2.2.3 Other Floor Materials

    3. 2.3 End-User Industry

      1. 2.3.1 Industrial

      2. 2.3.2 Decorative

      3. 2.3.3 Car Parks

    4. 2.4 Geography

      1. 2.4.1 China

      2. 2.4.2 India

      3. 2.4.3 Japan

      4. 2.4.4 South Korea

      5. 2.4.5 ASEAN

      6. 2.4.6 Rest of Asia-Pacific

Asia-Pacific Floor Coatings Market Size FAQs

The Asia-Pacific Floor Coatings Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Sika AG, The Sherwin-Williams Company, PPG Industries Inc.,, RPM International Inc and Akzo Nobel N.V. are the major companies operating in the Asia-Pacific Floor Coatings Market.

Asia-Pacific Floor Coatings Report Snapshots

Asia-Pacific Floor Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)