Floor Coatings Market Share

Global Floor Coatings Market Overview

Floor Coating Market Size was valued at USD 3.68 Billion in 2023. The Floor Coating industry is projected to grow from USD 3.90 Billion in 2024 to USD 6.09 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.74% during the forecast period (2024 - 2032). The floor coatings market is expected to be driven by its increasing use in the construction industry and the surging demand for concrete floor coatings. In the construction sector, floor coatings are widely used for various applications due to their durability, functionality, and aesthetic appeal. While Concrete floor coatings are widely used for a variety of purposes due to their ability to enhance the functionality, durability, and appearance of concrete floors. While the surging product launches by market players coupled with government support are expected to create an opportunity for the market to flourish during the forecast period.

Floor Coatings Market Trends

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  Development of New Floor Coatings Technologies Drive Growth for Floor Coatings Market

  
  

Floor coatings are a vital part of many buildings, providing protection, durability, and aesthetic appeal. In recent years, there has been a growing interest in the development of new floor coatings technologies. These new technologies offer several advantages over traditional floor coatings, including improved performance, sustainability, and cost-effectiveness. Traditional floor coatings have a number of limitations. They can be harmful to the environment, they can be difficult to apply, and they can be susceptible to damage. As a result, there is a growing need for new floor coatings technologies that offer improved performance, sustainability, and cost-effectiveness.

There are several new floor coatings technologies that are currently being developed. Some of the most promising technologies include Water-based floor coatings are a more sustainable alternative to solvent-based floor coatings. They are less harmful to the environment, and they have a lower odor. Self-healing floor coatings are able to repair minor damage on their own. This makes them a more durable and long-lasting option. Anti-microbial floor coatings are designed to inhibit the growth of bacteria and mold. This makes them a good choice for areas where hygiene is important. Photocatalytic floor coatings are able to break down pollutants in the air. This makes them a good choice for improving air quality.

With continued innovation, these coatings will become even more versatile, and they will play an increasingly important role in protecting the environment. The development of new floor coatings technologies is a rapidly evolving field. As new technologies emerge, they will continue to improve the performance, sustainability, and cost-effectiveness of floor coatings.

The American Coatings Show 2024, which will take place in Indianapolis, Indiana (USA) from April 30 to May 2, 2024, will see the introduction of multiple new lower yellowing epoxy solutions by Westlake Epoxy, according to a statement from Westlake Corporation. Epoxy Research Resin RSL-4710 in combination with Research Curing Agent RSC-4731 constitutes the Deep Pour Lower Yellowing Epoxy System. This two-component epoxy/amine solution is designed to have a lower exotherm temperature and a longer set time. Even in bright sunshine, the technology provides better color retention and superior air release.

Floor Coatings Market Segment Insights

Floor Coatings Market by Resin Types Insights

The floor coatings market segmentation, based on installation it has been segmented as Polyurethane, Epoxy, Polyaspartic, Methyl Methacrylate and Others. Among them, epoxy occupies the dominant share in the floor coatings market. In 2022, it occupied USD 1,617.6 Million of the market, Epoxy floor coatings are becoming increasingly popular due to their durability, stain resistance, and ease of maintenance. They are often used in commercial and industrial settings, but they are also becoming more popular for use in residential homes.

Floor Coatings Market by Components Insights

The floor coatings market segmentation, based on components it has been segmented as Single, Double, Triple and Others. Single Floor coating segment is the largest segment in the floor coating market in the year 2022.  As ingle floor coating is relatively easy to apply, even for DIYers. This makes it a popular choice for homeowners who want to update their floors without having to hire a professional, single floor coating is typically more cost-effective than other types of floor coatings, such as multi-coat systems, this is because it requires less material and labor to apply.

Floor Coatings Market by Application Insights

The floor coatings market segmentation based on the Application, has been segmented as Concrete, Terrazzo, Wood, and Others. Concrete held the largest market share in 2022, Concrete floors can have protective coatings added to them to improve their performance, appearance, and longevity. These coatings provide several advantages, including improved safety characteristics including anti-slip qualities and increased resistance to abrasion, chemicals, stains, and impacts. Warehouses, manufacturing plants, distribution centers, retail establishments, and parking garages frequently have concrete flooring. The market for floor coatings is driven by the need to safeguard and improve the operation of these concrete floors.

Floor Coatings Market by End Use Insights

The floor coatings market segmentation based on the end use, are used by residential, commercial, and industrial. Among them, the industrial segment holds the largest share in the year 2022, as it can protect the underlying concrete from wear and tear, chemicals, and other environmental factors. This is important in industrial settings where the floors are subjected to heavy traffic and exposure to harsh chemicals. Floor coatings can improve safety in industrial settings by providing a slip-resistant surface. This is important in areas where there is a lot of foot traffic, such as loading docks and warehouses. Floor coatings can extend the lifespan of industrial floors, making them a cost-effective investment. This is important in industries where the floors are subjected to heavy wear and tear.

Floor Coatings Market Regional Insights

By Region, the study segments the floor coatings Market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia Pacific is the largest market in floor coatings market. The market is projected to reach USD 2,663.3 million by 2030, growing at a rate of 6.82% CAGR.

The Asia Pacific region is experiencing rapid economic growth, which is leading to an increase in demand for industrial and commercial floor coatings. The Asia Pacific region is also experiencing rapid urbanization, which is leading to an increase in demand for residential floor coatings mainly from China and India. Europe is anticipated to grow during the forecast period. Due to technological developments and the rising demand for construction industry in the region. North America is also expected to grow in the forecast period as the demand for end use in the residential, industrial, and commercial sector increases.

Floor Coatings Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Floor Coatings Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Floor Coatings Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

Sherwin Williams Company specializes in the manufacturing of numerous types of paints and coatings products. The company makes its products available through a chain of over 5,000 stores which are operated by the company and through mass merchandisers, independent paint dealers, home centers, automotive retailers, hardware stores, and industrial distributors across various parts of North America, parts of Europe, China, Australia, and New Zealand. The company serves numerous industries such as transportation, construction, and packaging by offering a wide array of product under brands such as Miniwax, Purdy, Carbot and Krylon, among others. Also, it has around 136 manufacturing and distribution facilities across various geographical regions, further enabling the company to expand their market penetration.

Akzo Nobel N.V. operates its business by manufacturing products of various industries such as decorative paints, automotive & specialty coatings, industrial coatings, powder coating and marine, protective and yacht coatings. The automotive and specialty coatings segment of the business comprises products such as aerospace coatings, consumer electronics coatings, automotive OEM coatings, vehicle refinishes and sign finishes. Further, its industrial coatings segment offers products including coil and extrusion coatings, wood finishes, packaging coatings, and adhesives. The company owns more than 3,100 patents and has robust research and development capabilities which is evident from the fact that it has spent around USD 1.33 billion on research and development in last five years and possess five R&D centers. The brand portfolio offered by the company includes Dulux, Sikkens, International and Interpon and has a strong geographical presence in around 150 countries.

The newest addition to Dutch Boy® Paints' product selection, a next-generation Porch and Floor Paint + Primer, will be unveiled in 2024. Dutch Boy® Paints' Porch and Floor Paint + Primer is an easy, affordable fix for porches, basements, and breezeways. The new formulas are an advancement over the highly regarded Porch and Floor Paint + Primer solutions now offered by Dutch Boy® Paints. The capacity to stop dirt from collecting and the paint finish's surface's resistance to mildew are two important improvements.

HMG Paints declared in 2023 that HydroPro Floor Paint, its most recent invention, would be available. This innovative water-based floor paint is made to offer outstanding durability and a superior finish for both indoor and external applications. Its cross-linking formulation is intended to revolutionize floor finishing. With the ease of water-based application and the strength of cross-linking technology, HydroPro Floor Paint delivers a special composition.

Key Companies in the Floor Coatings Market include:

• Sherwin Williams Company (US)


• Akzo Nobel N.V. (Netherland)


• Arkema Group (France)


• RPM International Inc (US)


• Sika AG (US)


• BASF SE (Germany)


• Dur-A-Flex, Inc. (US)


• Rust-Oleum (US)


• T & M Protective Coating (US)


• Chemsol Polymer Industries Pvt. Ltd. (India)

Floor Coatings Industry Developments

April 2023 Dur-A-Flex Inc., a manufacturer of high-performance, resinous flooring and wall systems proudly launches a breathable epoxy flooring system: Vent-E. This revolutionary new formulation was specifically designed to provide additional protection to concrete floors that surpass the threshold for moisture and salt content of most epoxy coatings.

November 2022 Sherwin-Williams Company acquires Oskar Nolte GmbH and Klumpp Coatings GmbH: Sherwin-Williams Company announced the acquisition of German wood coatings companies named Oskar Nolte GmbH and Klumpp Coatings GmbH for accelerating its growth opportunities in industrial wood market.

June-2021The Carboline subsidiary of RPM International, Inc. acquires Dudick Inc.: RPM International Inc. announced that its Carboline subsidiary acquired Dudick Inc., manufacturer of high-performance linings and secondary containment coatings. This acquisition would help the company to expand their sales and enhance growth opportunities.

March-2021 Sika Corporation acquires DriTac: Sika Corporation acquired flooring adhesives business of DriTac, a US- based company specialising in floor covering adhesives. This acquisition would help Sika Corporation to expand their presence among floor coverings installers and distributors.

Sept-2020 Arkema acquires an Italian company Ideal Work: Arkema acquired Ideal Work that specialises in decorative floor technologies. With this acquisition Arkema aims at strengthening its flooring product portfolio, also will help the company to escalate the growth of its adhesive offerings. 

Floor Coatings Segmentation

Floor Coatings Resin Type Outlook

• Polyurethane


• Epoxy


• Polyaspartic


• Methyl Methacrylate


• Others

Floor Coatings Components Outlook

• Single


• Double


• Triple


• Others

Floor Coatings Application Outlook

• Concrete


• Terrazzo


• Wood


• Others

Floor Coatings End Use Outlook

• Residential


• Commercial


• Industrial

Floor Coatings Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South America