Floor Paints Market: Introduction
- Floor paints refer to a finish material applied over a floor structure to protect the surface from wear and oxidation. They exhibit anti vibration, waterproof, and anti-static properties and provide an attractive finish to the floor and bare concrete. It also facilitates the cleaning process of the surface.
- Floor paints find extensive application in residential, commercial, and industrial embodiments such as office buildings, single & multi-house buildings, educational institutes, and factories, to provide high performance, long life span, and an attractive surface. It can also be used to route traffic, mark traffic aisles, and define or brighten areas of facilities.
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Key Drivers & Restrains of the Floor Paints Market
- Increase in demand for floor coating solutions from residential, commercial, and industrial establishments to enhance the surface life by reducing the chance of cracking of concrete is expected to drive the floor paints market during the forecast period. Floor paints deliver a hard-wearing durable surface able to withstand continuous and heavy traffic.
- Surge in capital expenditure in building & construction industry due to rise in population in both developing and developed nations and strong economic growth is anticipated to propel the floor paints market. Floor paint offers high chemical & temperature resistance, mechanical strength, and remarkable & superior finishing properties, which is expected to further complement market growth.
- Availability of substitute products is expected to restrain the global floor paints market during the forecast period.
Epoxy Segment Expected to Hold Major Share of the Global Market
- The global floor paints market can be segmented based on type, floor structure, application, and region
- In terms of type, the global floor paints market can be divided into epoxy, polyurethane, and others. Epoxy paint is one of the most extensively used floor paint due to its ability to improve safety and reduce floor damage. Its environment-friendly, cost effective, and chemical resistance features are driving its adoption in various industries, including pharmaceuticals, food & beverage, and packaging.
- On the basis of floor structure, the global floor paints market can be classified into wood, concrete, and other floor materials. Concrete is one of the most extensively used materials for flooring in modern houses. This flooring is found in the etched, stained, and polished form across buildings. Its ability to offer stain resistance, low maintenance, durability, and unlimited designs & patterns are some of the features making its adoption viable.
- In terms of application, the global floor paints market can be divided into residential, commercial, and industrial buildings. Residential segment is predicted to witness significant growth due to increase in investments in construction of single and multi-housing units along with shift in population trend from rural to urban areas.
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Asia Pacific Expected to Hold Major Share of the Global Floor Paints Market
- In terms of region, the global floor paints market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The floor paints market in Asia Pacific is expected to expand at a significant pace during the forecast period due to the increase in investments in infrastructure development primarily in developing nations such as India and China. Rapid urbanization, population migration from rural to urban areas, and increase in purchasing power are expected to further fuel the market growth.
- The floor paints market in North America is expected to expand at a significant pace during the forecast period. This growth of the market can be attributed to the rise in construction activity which leads to decorative floor coating in various industries.
- The floor paints market in Europe is also projected to witness growth during the forecast period due to increase in demand for parquet floors primarily from Eastern & central Europe. Parquet flooring is a geometric mosaic of wood pieces used to increase the aesthetic appeal of wood floors.
- The floor paints market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period.
Key Players Operating in the Global Market
Leading companies operating in the global floor paints market include:
- Asian Paints Ltd.
- Akzo Nobel N.V.
- Kansai Nerolac Paints Limited
- NIPPONPAINT Co. Ltd.
- The Sherwin-Williams Company
- RPM International Inc.
- NIPSEA GROUP
- Axalta Coating Systems, LLC
- DAW SE
- Maris Polymers
- BASF Group
Global Floor Paints Market: Research Scope
Global Floor Paints Market, by Type
Global Floor Paints Market, by Floor Structure
Global Floor Paints Market, by Application
Global Floor Paints Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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