Market Size of Canada Floor Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Floor Coatings Market Analysis
The Canada Floor Coatings Market is expected to reach USD 200 million by the end of this year and is projected to register a CAGR of 3.5% 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 in the future.
- Increasing building and construction activities in the country will likely drive market growth in Canada during the forecast period.
- 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.
- On the flip side, strict regulations on VOCs released for floor coatings hinder the market growth.
- With the increasing environmental concerns, the rising demand for environment-friendly floor coatings is expected to act as an opportunity to drive the market in the coming years.
Canada 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. The market is segmented by resin type, floor material, coatings component, and end-user industry. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyaspartics, and other resins. By floor material, the market is segmented into the wood, concrete, and other floor materials. By end-user industry, the market is segmented into residential, commercial, and industrial. For each segment, the market sizing and forecasts have been done based on revenue. (USD million)
| Resin Type | |
| Epoxy | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyaspartics | |
| Other Resin Type |
| Floor Material | |
| Wood | |
| Concrete | |
| Other Floor Materials |
| End-User Industry | |
| Residential | |
| Commercial | |
| Industrial |
Canada Floor Coatings Market Size Summary
The Canadian floor coatings market is poised for steady growth, driven by the resurgence of construction activities and increasing demand from the industrial sector. The market has rebounded to pre-pandemic levels and is expected to expand steadily over the forecast period. The construction sector, a significant contributor to Canada's economy, is experiencing growth, which in turn fuels the demand for floor coatings in both residential and commercial applications. Ongoing high-value projects, such as condominium developments and airport expansions, are anticipated to further boost the consumption of floor coatings. However, the market faces challenges due to stringent regulations on volatile organic compounds (VOCs) emitted by floor coatings, which could hinder growth. Despite these challenges, the rising demand for environmentally friendly coatings presents a promising opportunity for market expansion.
In industrial applications, floor coatings play a crucial role in enhancing efficiency and ensuring workplace safety by protecting concrete floors from damage and providing slip resistance. The rapid industrialization in Canada, particularly in sectors like food and beverage, automotive, and pharmaceuticals, is expected to drive significant demand for floor coatings. Projects such as warehouse constructions and other industrial facilities contribute to this demand. The market is characterized by fragmentation, with key players including RPM International Inc, AkzoNobel NV, Sika AG, The Sherwin-Williams Company, and PPG Industries Inc. These companies are actively involved in the market, with recent developments being closely monitored. Overall, the Canadian floor coatings market is set to grow, supported by construction and industrial activities, despite regulatory challenges.
Canada Floor Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Construction Activities
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1.2.2 Growing Demand for Floor Coatings in the Industrial Applications
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1.3 Market Restraints
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1.3.1 Strict Regulations on VOCs Released for Floor Coatings
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1.3.2 Other Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Epoxy
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2.1.2 Acrylic
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2.1.3 Alkyd
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2.1.4 Polyurethane
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2.1.5 Polyaspartics
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2.1.6 Other Resin Type
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2.2 Floor Material
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2.2.1 Wood
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2.2.2 Concrete
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2.2.3 Other Floor Materials
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2.3 End-User Industry
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2.3.1 Residential
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2.3.2 Commercial
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2.3.3 Industrial
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Canada Floor Coatings Market Size FAQs
What is the current Canada Floor Coatings Market size?
The Canada Floor Coatings Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Canada Floor Coatings Market?
RPM International Inc, AkzoNobel NV, Sika AG,, The Sherwin-Williams Company and PPG Industries Inc. are the major companies operating in the Canada Floor Coatings Market.
