Mexico Floor Coatings Market Size (2024 - 2029)

The Mexico Floor Coatings market is anticipated to experience steady growth, driven by increasing building and construction activities. The industrial sector, particularly the chemical industry, is expected to be a significant contributor to the market's expansion. Despite challenges posed by strict VOC regulations, the market has rebounded to pre-pandemic levels and is poised for further growth. Additionally, the rising demand for environmentally friendly floor coatings presents new opportunities for market expansion.

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Market Size of Mexico Floor Coatings Industry

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Mexico Floor Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %
Market Concentration Low

Major Players

Mexico Floor Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Mexico Floor Coatings Market Analysis

The Mexico Floor Coatings market is expected to reach USD 200 million by the end of this year and is projected to register a CAGR of over 4% 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 the country will likely drive market growth in Mexico 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 increasing demand from the chemical industry.
  • On the flip side, strict regulations on VOCs released for floor coatings hinder market growth.
  • With 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.

Mexico 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 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 on the basis of revenue. (USD million)

Resin Type
Epoxy
Acrylic
Alkyd
Polyurethane
Polyaspartics
Other Resin Types
Floor Material
Wood
Concrete
Other Floor Materials
End-User Industry
Residential
Commercial
Industrial
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Mexico Floor Coatings Market Size Summary

The Mexico 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 burgeoning construction and industrial sectors in the country. The demand for floor coatings is particularly strong in the industrial sector, fueled by the chemical industry’s needs. However, the market faces challenges due to stringent regulations on volatile organic compounds (VOCs) emitted by floor coatings. Despite these challenges, the increasing emphasis on environmentally friendly solutions presents a significant opportunity for market expansion. The construction industry, a key economic driver, continues to expand, with numerous high-value projects underway, further propelling the demand for floor coatings in both residential and commercial applications.

In industrial settings, floor coatings play a crucial role in enhancing efficiency and safety by protecting concrete floors from damage and providing slip resistance. The recovery of industrial activities post-COVID-19 has bolstered the demand for floor coatings, particularly in sectors such as food and beverage, automotive, and pharmaceuticals. The market is characterized by its fragmentation, with major players like RPM International Inc, AkzoNobel NV, Sika AG, The Sherwin-Williams Company, and PPG Industries Inc. actively participating. Innovations, such as Akzo Nobel India's introduction of Dulux Floor Plus, highlight the ongoing advancements in the market, catering to the need for protective and aesthetic solutions in flooring.

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Mexico Floor Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Construction Activities

      2. 1.2.2 Growing Demand for Floor Coatings in the Industrial Applications

    3. 1.3 Market Restraints

      1. 1.3.1 Strict Regulations on VOCs Released for Floor Coatings

      2. 1.3.2 Other Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

  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 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 Residential

      2. 2.3.2 Commercial

      3. 2.3.3 Industrial

Mexico Floor Coatings Market Size FAQs

The Mexico Floor Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

RPM International Inc, AkzoNobel NV, Sika AG, The Sherwin-Williams Company and PPG Industries Inc. are the major companies operating in the Mexico Floor Coatings Market.

Mexico Floor Coatings Report Snapshots

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