Latest market study on “Global Floor coating Market to 2027 – Analysis and Forecasts by Type (Epoxy, Polyurethane, Acrylics, Polymethyl Methacrylate, and Others), Formulation (Solvent-Based and Water-Based), Coating Component (1K, 2K, and 3K), Flooring Material (Wood, Concrete, Mortar, Terrazzo, and Others), Application (Residential, Commercial, and Industrial)”, The global floor coating market is accounted to US$ 2,175.6 Mn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 – 2027, to account to US$ 3,941.2 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Strategic Insights

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Floor coating exhibit desirable properties such as waterproof, anti-static, anti-vibration, and anti-skid. These desirable properties have made them the favored coating in many industrial, as well as construction industries. Floor coating protect the concrete surfaces onto which they are applied and are responsible for extending the life of the underlying concrete floors. They are inert to oils, detergents and cleaners, transmission fluids, water, hail, snow, and corrosive chemicals. Floor coating are also used to improve the aesthetic appeal of the floor. They are available in a number of colors, shades, and textures. Metallic pigments, and vinyl color flakes are added to the floor coating market systems to produce floor coating market surfaces with iridescent colors.

Rise in number of commercial and residential construction projects is estimated to escalate the floor coating market at a CAGR of 6.9%

Concrete is the most basic flooring material. Usually, it is only the surface of the slab that is poured directly on the gravel or dirt bed to install the foundation of a building. The concrete flooring material is not only durable, reliable, and incredibly long-lasting, but also developed a reputation for being utilitarian and course underfoot. However, modern advancements have given the flooring professionals a variety of design options that are allowing them to reinvent this primary building material entirely. Today concrete floors have the option to be polished smooth or even be textured to provide traction. These can also be stained or painted with a variety of techniques that allows them to replicate the appearance of natural materials or embed the floor with intricate printed designs. Traditionally concrete floorings have been used in locations where durability, utility, and ease of maintenance are more important than design. This includes a variety of environments that bear heavy equipment or machinery may routinely be used, or at places where staining agents may be familiar. It is also a popular commercial flooring alternative for areas of high traffic.

Impact of COVID-19 on Floor Coating Market:

The COVID-19 pandemic originated in Wuhan (China) in December 2019, and since then, it has spread across the globe at a fast pace. The US, Brazil, India, Russia, Italy, China, Spain, France, and Germany are among the worst-affected countries in terms of confirmed cases and reported deaths as of June 2020. The pandemic has affected conomies and industries due to enforced lockdowns, travel bans, and business shutdowns. Chemical and materials is one of the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. The global economic break down due to COVID-19 is also affecting the growth of the Floor Coating Market growth due to shutting down of factories and obstacles in supply chain.

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Floor Coating Market: Coating Component-Based Insights

The floor coating market, based on coating component, is segmented into 1K, 2K, and 3K. The 2K segment is considered to be one of the lucrative segments in the floor coating market and is expected to grow at the fastest rate in the forecasted period. 2k coatings or 2 component coatings are floor coating which require an activator or hardener to cure or dry the floor coating. The hardener in the 2k coating system is used to crosslink or bond the liquid coating on to the denser film surface. The hardener imparts durability, and chemical resistance to the floor coating. Once the 2k floor coating hardens it is less susceptible to chemicals, weather elements such as heat, ice, and rain, and UV light. However, it is important to note that most traditional 2K hardeners are Isocyanic based and sold widely as 2 pack paints. The type of hardener used in the traditional 2k coatings include compounds which are harmful to both humans and animals, and are known to cause cancer and other serious respiratory illnesses. The harmful effects of 2k coatings may restrict its use as they are required to be used under the stringent health and safety conditions.

Floor Coating Market: Competitive Landscape and Key Developments

The market for global floor coating is concentrated with some very well-established players. Some of the key players in the global floor coating market include Axalta Coating Systems Ltd., Apurva India Pvt. Ltd, sian Paints Limited, Grand Polycoats, Maris Polymers S.A., Michelman, Inc., The Lubrizol Corporation, The Sherwin-Williams Company, PPG Industries, Inc., and 3M Company, among others.

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