India Floor Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Floor Coatings Market Analysis
The India Floor Coatings Market was worth USD 1090 million at the end of the year, and it is expected to register a CAGR of 7% during the forecast period. Because construction stopped all over the country because of the COVID-19 pandemic, it hurt the market. But after COVID-19, the country went back to building homes and businesses, which will help the market recover in the coming years.
- In the short term, rising residential and commercial construction activities in India will likely drive the market.
- On the other hand, traditional floor coatings are bad for the environment, which slows the growth of the market.
- In the market that was looked at, most of the demand for floor coatings came from the industrial sector, and this demand is expected to grow as the chemical industry grows.
- Polyaspartic coatings are likely to have a chance in the future because of how well they work.
India Floor Coatings Market Trends
Increasing Construction Activities in India
- In India, growth in population, migration from hometowns to service sector clusters, and the nuclear family trend are some factors driving residential construction. Besides, decreasing land-to-population ratio and the growing trend of constructing high-rise residential buildings and townships have been driving the application of floor coatings in the residential construction segment in the country.
- The residential sector is expected to grow significantly in the country. The Indian government, in its Union Budget 2022-23, allocated USD 580 million for its 'PM Aawas Yojana scheme, reiterating its commitment to implementing 'Housing for All' and building 20 million affordable homes for the urban poor by 2022.
- The Indian government has been actively boosting housing construction, aiming to provide homes to about 1.3 billion people by 2022. The country is likely to witness around USD 1.3 trillion of investment in housing over seven years from 2021 and the construction of 60 million new homes. The growing construction activities in the country are expected to increase the demand for floor coatings over the forecast period.
- The growing individual townships are also driving the current studied market. The development of the Palva industrial township, Zaheerabad integrated industrial township, and many other projects involving public and private investments with a total of USD 29.38 billion are boosting the sector.
- India is gearing up to embrace urbanization by leveling up its existing infrastructure in cities. The government, which had already commenced the drive to build 100 smart cities in 2014, is currently focusing on expanding the mission with an investment of USD 1.2 billion for carrying out city-wide developments.
The Industrial Segment to Dominate the Market
- The industrial segment is dominating the overall floor coatings market. The core sectors, such as chemical, automotive, manufacturing, and other industries such as food and beverages and electrical and electronics, among others, are major consumers of floor coatings.
- Chemical-resistant floor coatings are used in several industrial applications such as wet food and beverage processing areas, process tank areas, chemical storage, secondary containment, process floors, trenches, sumps, railcar loading and unloading, truck loading and unloading areas, warehouses, and loading docks.
- Among all the core sectors, the chemical industry is a major end-user of floor coatings. High-performance flooring is essential for research and development labs, production plants, and other industrial facilities to protect the appearance of floors and walls against chemical stains.
- In the industry, chemical resistance flooring, strict hygiene, and safety protocols play vital roles in avoiding the risks related to damage, accidents, and the health of workers.
- In the food and beverage industry, the risk of microbial growth due to spillage is high. Consequently, these contaminants degrade the processed food's purity. To avoid such problems, the industry requires durable and thick floor coatings to provide a protective barrier, which can help prevent contaminants from entering the concrete substrate and ensures a hygienic surface.
- In the automotive manfacturing industry, floor coatings are used for slip resistance, to provide strength and aesthetic appeal to the floor, and to separate different zones of operations in the production plants.
India Floor Coatings Industry Overview
The Indian floor coatings market is partially consolidated. Some major players in the market include (not in any particular order) Akzo Nobel N.V., Asian Paints, Berger Paints India Limited, Kansai Nerolac Paints Limited, and Nippon Paint Holdings Co. Ltd.
India Floor Coatings Market Leaders
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Akzo Nobel N.V.
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Asian Paints
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Berger Paints India Limited
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Kansai Nerolac Paints Limited
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Nippon Paint Holdings Co. Ltd
*Disclaimer: Major Players sorted in no particular order
India Floor Coatings Market News
- October 2020: Kansai Nerolac Paints announced an investment of USD 54.3 million to add capacity by 40,000 lakh liter at its plant in Amritsar, Punjab.
India Floor Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Awareness about the Advantages of Floor Coatings
- 4.1.2 Increasing Construction Activities in India
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4.2 Restraints
- 4.2.1 Harmful Environmental Impact of Conventional Coatings
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Value in USD Million)
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5.1 Product Type
- 5.1.1 Epoxy
- 5.1.2 Polyaspartics
- 5.1.3 Acrylic
- 5.1.4 Polyurethane
- 5.1.5 Other Product Types
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5.2 Floor Material
- 5.2.1 Wood
- 5.2.2 Concrete
- 5.2.3 Other Floor Materials
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5.3 End-user Industry
- 5.3.1 Residential
- 5.3.2 Commercial
- 5.3.3 Industrial
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Akzo Nobel N.V.
- 6.4.2 Asian Paints
- 6.4.3 BASF SE
- 6.4.4 Henkel AG & Co. KGaA
- 6.4.5 HMG Paints Limited
- 6.4.6 Indigo Paints Ltd
- 6.4.7 Jotun
- 6.4.8 JSW Paints
- 6.4.9 Kansai Nerolac Paints Limited
- 6.4.10 Mapei
- 6.4.11 Nippon Paint Holdings Co., Ltd.
- 6.4.12 PPG Industries
- 6.4.13 Sika AG
- 6.4.14 Shalimar Paints
- 6.4.15 Sheenlac Paints Ltd.
- 6.4.16 Sto SE & Co. KGaA
- 6.4.17 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 The promising performance of polyaspartic coatings
India 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 product type, floor material, and end-user industry. 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 residential, commercial, and industrial. The report offers market size and forecasts in terms of revenue (USD million) for all the above segments.
| Product Type | Epoxy |
| Polyaspartics | |
| Acrylic | |
| Polyurethane | |
| Other Product Types | |
| Floor Material | Wood |
| Concrete | |
| Other Floor Materials | |
| End-user Industry | Residential |
| Commercial | |
| Industrial |
India Floor Coatings Market Research FAQs
What is the current India Floor Coatings Market size?
The India Floor Coatings Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in India Floor Coatings Market?
Akzo Nobel N.V., Asian Paints, Berger Paints India Limited, Kansai Nerolac Paints Limited and Nippon Paint Holdings Co. Ltd are the major companies operating in the India Floor Coatings Market.
What years does this India Floor Coatings Market cover?
The report covers the India Floor Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Floor Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Floor Coatings Industry Report
Statistics for the 2024 India Floor Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Floor Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
