US Floor Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Floor Coatings Market Analysis
The United States Floor Coatings market is expected to reach around USD 1270 million by the end of this year. It 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
- Strict regulations on VOCs released for floor coatings are hindering market growth.
- The increasing demand for bio-based floor coatings will likely act as an opportunity.
- In End-user Industry, the Industrial Segment to dominated the market.
US Floor Coatings Market Trends
This section covers the major market trends shaping the US Floor Coatings Market according to our research experts:
Soaring Demand from Industrial Sector
- The United States has one of the world's largest construction industries. The rising demand for industrial, commercial, and residential structures in the United States is expected to boost the consumption of floor Coating for protective layers applied to surfaces subjected to extreme wear or corrosion.
- The chemical manufacturing industry in the United States is well-established, with leading chemical product manufacturers such as Dow, DuPont, PPG Industries Inc., Huntsman Corporation, and Eastman Chemical, among others, having origins in the country. In the recent decade, the country recorded roughly 340 chemical and plastic production projects, thereby showing a sustained demand for floor coatings from the sector.
- Furthermore, several companies, like Exxon Mobil and BASF SE, are investing in the growth of chemical plants. This may increase the demand for floor coatings over the forecast period.
- For instance, In July 2022, BASF SE announced it had invested about USD 780 million to expand its chemical plant in Ascension Parish, Louisiana, United States. The Construction will begin this year and is expected to be complete by mid-2025.
- The food and beverage industry of the industrial sector is an essential part of the US economy. E-commerce and delivery are also growing in popularity. With the high internet penetration rate and increasing demand for convenience, consumers are increasingly ordering groceries and other food products online.
- Furthermore, Bakery production accounts for the most significant number of food and beverage processing plants in New York, followed by wineries and animal slaughter and processing industries.
- All such projects in the country are likely to drive the demand in the floor coatings market.
The Water-borne Segment to Drive the Market Growth
- Water-borne is the fastest growing technology in the floor coatings market. The major reason for their gain over solvent-borne is due to their eco-friendly nature, as they are generally lower in volatile organic compounds (VOCs), which degrade the environment. Additionally, other properties, like low odor, more durability, and block resistance, make water-borne paints preferable.
- Water-borne coatings constitute a major portion of water as solvents, binders, pigments, and performance additives, as per the requirements. The proportion of additives and resins is variable, as per the application of the coatings.
- In General, polyurethanes(PU) are hydrophobic in nature and insoluble in water. The waterborne PU coatings are made by modifying PU with ionic groups and/or non-ionic hydrophilic segments. One-component water-based dispersed polyurethane can be easily applied on flooring, either manually or even industrially.
- They are used as clear coat for wood flooring application. The ease of application, rapid curing, and good mechanical properties of these polyurethanes make them the standard technology for parquet coatings
- The water-borne coatings in the industrial segment are expected to show healthy growth in the next few years, especially in the United States, driven by huge investments in the construction industry, housing projects, and renovation of existing residential and commercial buildings.
- The increasing adoption of waterborne coatings is due to their physical and chemical qualities, such as high chemical resistance, low processing temperature, and solvent-free formulations.
- Owing to above mentioned factor, waterborne technology is expected to grow significantly during the forecast period.
US Floor Coatings Industry Overview
In general, the United States Floor Coatings Market is a partially consolidated market with no significant share to any particular company. The same applies to all the subtypes of floor coatings. The top companies in the market include (not in any specific order) SIKA AG, The Sherwin-Williams Company, PPG Industries Inc., RPM International Inc., and Akzo Nobel NV.
US Floor Coatings Market Leaders
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The Sherwin-Williams Company
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PPG Industries Inc
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RPM International Inc
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Akzo Nobel N.V.
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Sika AG
*Disclaimer: Major Players sorted in no particular order
US Floor Coatings Market News
- In 2022, TSR Concrete Coatings ("TSR"), a Bertram Capital ("Bertram") portfolio company and provider of residential concrete coating solutions, announced the merger of TSR with Ninja Coatings ("Ninja") and PolyPro Concrete Coatings.
- In 2021, Coatings for Industry, Inc. (CFI) launched WearCoat 2055, a long-cure polyaspartic floor coating formulated to provide a smooth, glossy finish.
US 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 Market Drivers
- 4.1.1 Increasing Construction Activities
- 4.1.2 Other Drivers
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4.2 Market Restraints
- 4.2.1 Strict Regulations on VOCs Released for Floor Coatings
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Acrylic
- 5.1.3 Alkyd
- 5.1.4 Polyurethane
- 5.1.5 Polyaspartics
- 5.1.6 Other Resin Type
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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 Industrial
- 5.3.2 Decorative
- 5.3.3 Car Parks
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 AkzoNobel NV
- 6.4.2 ArmorPoxy
- 6.4.3 BASF SE
- 6.4.4 Henkel AG & Co. KGaA
- 6.4.5 Jotun
- 6.4.6 Kansai Nerolac Paints Limited
- 6.4.7 LATICRETE INTERNATIONAL INC.
- 6.4.8 Mapei
- 6.4.9 NIPSEA Group
- 6.4.10 PPG Industries Inc.
- 6.4.11 Sika AG
- 6.4.12 Tambour
- 6.4.13 Teknos Group
- 6.4.14 The Sherwin Williams
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Rising Demand for Environment-friendly Floor Coatings
US 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 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. By End-User Industry segments the market into Industrial, Decorative, and Car Parks. The report offers market size and forecasts for revenue (USD million) for all the above details.
| Resin Type | Epoxy |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyaspartics | |
| Other Resin Type | |
| Floor Material | Wood |
| Concrete | |
| Other Floor Materials | |
| End-User Industry | Industrial |
| Decorative | |
| Car Parks |
US Floor Coatings Market Research FAQs
What is the current United States Floor Coatings Market size?
The United States Floor Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in United States Floor Coatings Market?
The Sherwin-Williams Company, PPG Industries Inc, RPM International Inc, Akzo Nobel N.V. and Sika AG are the major companies operating in the United States Floor Coatings Market.
What years does this United States Floor Coatings Market cover?
The report covers the United States Floor Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Floor Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Floor Coatings Industry Report
Statistics for the 2024 United States Floor Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States 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.
