Floor Coatings Market Size (2024 - 2029)

The floor coatings market is projected to experience growth over the forecast period, driven by rising awareness of their benefits and increased housing construction in emerging economies. Despite challenges posed by strict VOC regulations, the market is poised for expansion due to the growing demand for eco-friendly bio-based options and the effective performance of polyaspartic coatings. The Asia-Pacific region leads in market consumption, with significant contributions from China and India.

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Market Size of Floor Coatings Industry

Floor Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.36 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Floor Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Floor Coatings Market Analysis

The Global Floor Coatings Market size is estimated at USD 6.71 billion in 2023, and is expected to reach USD 8.30 billion by 2028, growing at a CAGR of 4.36% during the forecast period (2023-2028).

Due to the COVID-19 outbreak construction activities were halted worldwide which resulted in lower demand in the year 2020. However, in the years 2021 and 2022, these activities resumed and have helped the demand for floor coatings reach pre-pandemic levels.

  • Growing awareness about the advantages of floor coatings and increasing housing construction activities in emerging economies are expected to drive the market over the forecast period.
  • However, strict regulations on VOCs released from floor coatings and concrete polishing is expected to hinder market growth.
  • The increasing popularity of eco-friendly bio-based floor coatings and the promising performance of polyaspartic coatings will act as an opportunity for the growth of the market during the forecast period.
  • Asia-Pacific dominated the market across the world, with the largest consumption from China and India.

Floor Coatings Industry Segmentation

Floor coatings are durable, protective layers applied to surfaces that are subjected to extreme wear or corrosion. Warehouses, chemical plants, and production floors are examples of typical applications. The market is segmented by product type, floor material, end-user industry, and geography. By product type, the market is segmented into Epoxy, Polyaspartics, Acrylic, Polyurethane, and Other Product types. By floor material, the market is segmented into Wood, Concrete, and Other Floor Materials. By end-user industry, the market is segmented into Decorative, Industrial, and Car Park. The report also covers the market size and forecasts for the floor coatings market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (Kilo tons).

Product Type
Epoxy
Polyaspartics
Acrylic
Polyurethane
Other Product Types
Floor Material
Wood
Concrete
Other Floor Materials
End-user Industry
Decorative (Including Residential and Commercial)
Industrial
Car Parks
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Floor Coatings Market Size Summary

The floor coatings market is poised for steady growth, driven by increasing awareness of their benefits and rising construction activities in emerging economies. The market experienced a temporary setback due to the COVID-19 pandemic, but demand has since rebounded to pre-pandemic levels. The Asia-Pacific region leads the market, with significant consumption in China and India, where the construction industry is expanding rapidly. The industrial sector, particularly in chemicals, automotive, and food and beverages, remains the dominant consumer of floor coatings, emphasizing the need for high-performance, chemical-resistant flooring to ensure safety and hygiene. The market is also witnessing a shift towards eco-friendly and bio-based coatings, presenting new growth opportunities.

Despite the promising growth prospects, the market faces challenges from stringent regulations on volatile organic compounds (VOCs) emissions. However, the increasing popularity of polyaspartic coatings and the expansion of the construction sector in Asia-Pacific are expected to drive market growth. The market is highly fragmented, with key players like Sika AG, Akzo Nobel N.V., and PPG Industries, Inc. actively expanding their portfolios through strategic acquisitions and innovations. These developments, coupled with significant investments in the construction and industrial sectors, particularly in the United States and China, are likely to sustain the market's growth trajectory over the forecast period.

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Floor Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Awareness about the Advantages of Floor Coatings

      2. 1.1.2 Increasing Construction Activities across the Globe

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Strict Regulations on VOCs Released for Floor Coatings

      2. 1.2.2 Benefits of Concrete Polishing over Floor Coatings

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

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

    1. 2.1 Product Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Polyaspartics

      3. 2.1.3 Acrylic

      4. 2.1.4 Polyurethane

      5. 2.1.5 Other Product Types

    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 Decorative (Including Residential and Commercial)

      2. 2.3.2 Industrial

      3. 2.3.3 Car Parks

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Floor Coatings Market Size FAQs

The Floor Coatings Market is projected to register a CAGR of 4.36% during the forecast period (2024-2029)

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

Floor Coatings Market Report Snapshots

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