Floor
Coatings Market: Overview
Floor
coatings have typically been used for surfaces that undergo wear, corrosion, or
stress, such as in large warehouses, manufacturing facilities, and chemical
plants. In recent years, they have been utilized in protection of surfaces in
residential, commercial, and industrial floors around the world. The drive for
floor coatings market evolution is underpinned by constant advances in the
chemistries of paints, their curing techniques, and expanding product portfolio
of manufacturers. Different types of floor coatings, notably including
epoxy-based and polyurethane, have been key to driving sales in the floor
coatings market. These have been used in resurfacing applications or in
covering stains and damage in some cases.
Other key
product types in the floor
coatings market can include polyaspartic, methyl methacrylate, and
acrylic. Floor coating products also contain sealers and sealants. Some of the
major areas that contribute to the growth of the floor coatings market are used
in retail stores, showrooms, garages, hospitals, and airplane hangar, and the
surface may consist of mainly of wood and concrete. Of these, concrete has
spurred a large revenue streams for manufactures and vendors in the floor
coatings market.
Floor Coatings Market: Key Trends
Over the
years, different product varieties have been developed to meet the required
features of floor coatings. Manufacturers in the floor coatings market have to
meet specialized characteristics of end users such as wear resistance,
refractoriness, and low electrical resistivity. Growing demand for increasing
the surface strength of concrete surfaces has spurred new product development
avenues for manufacturers on a large scale. The utilization of floor coatings
for concretes has spurred the growth of the floor coatings market.
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Strides
being made in infrastructural developments in both developing ad developed
countries has spurred the demand for floor coatings. Spending of governments to
support the construction of commercial spaces in urban spaces is a key trend
invigorating demand in the floor coatings market. Of the various key
application areas, concrete floor coatings have been propelling the rapid
expansion of the market. Rapid pace of industrialization in various parts of
the world is boosting the demand for floor coatings for residential
construction.
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Floor
Coatings Market: Competitive Analysis and Key Developments
The
landscape is characterized by high intensity of competition. Floor coating
manufacturers are keen on expanding their product portfolio, especially for
concrete floors. Most players are focusing on offering end users better
techniques of applying apart from better performance from their products.
Numerous chemical companies in the floor coatings market are spending on
research and development activities that can overcome traditional solvent-based
products.
Top
players in the floor coatings market are leaning on consolidating their
position by targeting new markets and new geographies. To this end, key players
are getting into strategic partnerships with some regional players. A case in
point is some of the recent strategic moves by BASF SE. Some top players are
setting sights on meeting unmet needs and untapped revenue potential in the
floor coatings markets. An example is growing attention of players for meeting
the end-user demand in GCC countries.
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Some of
the top players in the floor coatings market are:
·
Sherwin-Williams Company
·
RPM International Inc.
·
PPG Industries, Inc.
·
Kansai Paint Co., Ltd.
·
BASF SE
·
Axalta Coating System
·
Akzo Nobel N.V.
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