Floor Coatings Market Poised for Significant Growth, Projected to Hit $5.5 Billion by 2030

WIN SIVERS DRIVE, OR, UNITED STATES, January 6, 2025 /EINPresswire.com/ -- According to the published research report by Allied Market Research, The global floor coatings market size was valued at $3.1 billion in 2020, and is expected to reach $5.5 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030. The report provides an extensive analysis of market size & estimations, drivers & opportunities, key investment pockets, major segments, and competitive landscape.

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Increase in demand for floor coatings from end users such as commercial, residential, and industrial and surge in demand for interior decoration have boosted the growth of the global floor coatings market. However, slippery characteristic of floor coating hinders the market growth. On the contrary, effective price strategy owing to rise in competition in the industry would unlock lucrative opportunities in the future.

By coating component, the double component segment held the largest share in 2020, accounting for more than two-thirds of the global floor coatings market. In addition, the segment is estimated to register the highest CAGR of 6.1% during the forecast period, owing to growing demand for anti-corrosion products from multiple end-use sectors. The report includes analysis of the single component and triple component segments.

By end user, the commercial segment is projected to manifest the highest CAGR of 6.1% from 2021 to 2030, owing to presence of huge consumer base in the regions including Asia-Pacific. However, the residential segment held the largest share in 2020, contributing to more than two-fifths of the global floor coatings market, due to durability and longevity of floor coating.

On the basis of floor structure, the market is segmented into concrete, mortar, terrazzo, wood, and others (carpet, basic tiling, and vinyl sheets). The end user segment of the floor coatings market is broadly classified into residential, commercial, and industrial. On the basis of binder type, the market is segmented into epoxy, acrylic, polyurethane, methyl methacrylate, and others. The coating component of the market is categorized into single component, double component, and triple component. The residential sector accounted for the highest market share in 2020, owing to surge in usage of floor coatings products for residential construction due to rapid industrialization worldwide.

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By region, the market across Asia-Pacific dominated in 2020, accounting for more than one-third of the market. In addition, the region is expected to register the highest CAGR of 7.3% during the forecast period, due to increase in populace, surge in middle-class income, rapid urbanization, and upcoming construction projects in the region. On the other hand, the global floor coatings market across North America is expected to showcase a CAGR of 4.5% from 2021 to 2030.

Major market players

The Sherwin-Williams Company
BASF SE
ArmorPoxy
Akzo Nobel N.V.
Axalta Coating Systems, Ltd.
RPM International Inc.
PPG Industries, Inc.
Sika AG
3M
The Lubrizol Corporation

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Key benefits for stakeholders

This report provides a detailed quantitative analysis of the current floor coatings market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of floor coatings market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global floor coatings market.

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David Correa
Allied Market Research
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