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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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