Floor Paints Market by Product Type (Solvent-borne, Water-borne) | By Resin Type - Epoxy, Polyurethane, Acrylic, Alkyd
Industry: Chemicals and Materials
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 235
Report ID: PMRREP32698
The most recent industry analysis from Persistence Market Research predicts that the global market for floor paints will reach US$ 85.0 Mn in 2023. With a consistent growth rate of 2.7% the market for floor paints is anticipated to reach US$ 111.0 Mn in value by 2033.
| Attributes | Key Insights |
|---|---|
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Floor Paints Sales (2022A) |
US$ 82.5 Mn |
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Floor Paints Demand (2023E) |
US$ 85.0 Mn |
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Floor Paints Market Projections (2033F) |
US$ 111.0 Mn |
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Value CAGR (2023-2033) |
2.7% |
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Collective Value Share: Top 3 Countries (2023E) |
80.3% |
Floor paints are the types of paints that are applied to floors to protect, mark, or decorate them. They can be utilized in residential, commercial, industrial, and institutional structures on a variety of floor substrates, including cement and concrete, wood, Terrazzo, and many more. Floor coatings give the flooring a shine and provide abrasion and wear resistance. Floor paints are also utilized on the surfaces of warehouses, garages, galleries, sports fields, and many other structures.
The fundamental quality of floor coatings is their long shelf life, which they give in addition to protection, cost-effectiveness, and low maintenance. The many floor coating kinds available on the market each have unique characteristics and perform a particular job within the business. One or more resins are blended with powder, decorative components, and other aggregates to produce floor coverings with a smooth texture and appealing appearance. Epoxy floor coatings have a significant market share impact on the global market for floor coatings.
Floor coatings are applied to surfaces to provide them with qualities that make them less slick. They have anti-static, anti-vibration, and waterproof properties in addition to slip resistance. The growing need for coatings in industrial, commercial, and residential applications and the expanding construction industry are factors promoting market expansion.
Floor Paints manufacturers claim that demand has continuously increased for both indoor and outdoor applications. Despite the surge in demand for epoxy-based coatings, the expansion of the building and construction industries has helped to drive Floor Paint sales in recent years. According to the historical analysis, the market for floor paints expanded at a compound annual growth rate (CAGR) of 1.2% from 2017 to 2022. As the construction industry bounces back from the COVID-19 epidemic, which created a setback in the industry in 2020, the market for floor paints is anticipated to grow in the near future.
It is projected that the market for floor paints would expand more swiftly than in the past. According to forecasts, the market would grow at a CAGR of 2.7% during the anticipated period. Floor paints are useful in situations where the flooring needs to have features like chemical resistance and slip resistance. The primary variables projected to substantially impact the market are growing globalization and economic development, particularly in the Asia Pacific area. Emerging markets like India and China are seeing a lot of prospects in business as a result of urbanization. The requirement for housing and industrial infrastructure has also expanded significantly due to the enormous rise in world population. Along with these advancements, paints' intrinsic appeal as coatings due to their anti-static, anti-vibration, and waterproof properties has increased their demand.
A Spike in the number of commercial and residential construction projects has led to the growth of the floor paints market
Floor coatings are widely used to increase the longevity of concrete floors with epoxy resins in both residential and commercial construction. Epoxy, polyurethane, and acrylic resins can support heavy static and dynamic stresses on concrete floors. Floor coverings also prevent the surfaces of these floors from degrading. Because floor coatings are impervious to water, cleaners, chlorides, oils, snow, ice, transmission fluids, hail, and bleaches, they are increasingly being utilized to cover the flooring of garages, parking lots, and auto showrooms. In addition to coating parking deck flooring, they are used in residential construction projects to create lovely seamless floors. They are utilized to improve the aesthetics of floors in homes.
On the other hand, during the past few years, demand for decorative paints, especially floor paints, has increased due to urbanization growth, a high standard of living, and growing customer interest in displaying architectural touches in residential structures. The market for floor paints is expected to be driven by the significant investment in the building and construction sector brought on by the expansion of the global economy and the population in developed and emerging nations.
Growing Urbanization Coupled with Change in Demand Pattern from Consumers
Due to reasons including increased urbanization, a high level of living, and growing consumer interest in showcasing architectural details in residential constructions, the demand for decorative paints, particularly floor paints, has increased recently. As cities expand, so is the need for new homes and businesses, which could benefit the floor paint market. Due to increased disposable income, consumer demand has changed to favor paints with very durable properties and a modern aesthetic preference.
This change in demand pattern is expected to work as a catalyst for the Nordic Floor Paints market. Also, with the demand for floor paints getting an increase, the ability of manufacturers to supply products as per consumers’ tastes and needs is paving way for above-average market growth.
Solid consumer spending, Lower unemployment levels, growth in fixed business investments, and increasing residential construction are subsequently expected to propel the demand for floor paints across various end-use sectors, creating opportunities for growth for market players over the forecast years.
Environmental Regulations and Threat of Product Substitution To Constraint the Market Growth
Environmental restrictions, particularly in industrialized regions, are becoming more and more strict when it comes to the usage of non-biodegradable materials and chemically treated items that are also linked to dangerous production when utilized near people. Manufacturers are under pressure to comply with new rules, whether by altering their production techniques, raw materials, or formulations or by switching to environmentally friendly materials like biopolymers, which occasionally may have an impact on profit margins. Additionally, rules in one or more of the regions that the supply chain passes through could limit the availability of some raw materials. All of these elements could result in an imbalance between supply and demand, which would limit the market growth for floor paints to some extent.
Numerous prominent firms are investing a sizable sum of money in research and development to develop innovative technologies and creative solutions that will enable paint manufacturing to abide by requirements for the chemicals used. The potential market displacement of traditional products by cutting-edge emerging technologies like nanotechnology and powder paints presents challenging obstacles for global businesses. Numerous research projects on nanoparticles are currently being carried out in the labs of companies, associations, and academic institutions. Many patent applications have been made as a result of this research. It is also projected that significant research on biopolymers for use in the production of paint will change the market's dynamics in the future years.
What is the market scenario of Floor Paints in the Norway market?
Norway is anticipated to continue to be a significant market for floor paints. Norway is renowned for its strict laws and rules that promote low-carbon buildings. The country is seeing significant growth in the greener construction sector. developing intelligent, energy-efficient buildings for sustainable development, and using environmentally friendly materials to achieve net zero emission construction sites.
The nation's recent transition to a circular economy considerably reduced negative effects on the environment and the climate. Higher demand for environmentally friendly categories of floor paints is anticipated in the nation as a result of the idea of re-examining, reusing, and re-establishing the building materials, zero-emission construction sites, and growing awareness about the use of environmentally friendly building materials. The country is predicted to consume a significant amount of floor paint due to factors including rising new housing projects in the building sector and rising investments in infrastructure projects like the construction of new retail malls and hotels.
What Is the Growth Outlook of the Floor Paints Market in Sweden?
The most attractive market for Nordic Floor paint's major players is anticipated to be Sweden. This is due to the country having a larger population and more residential, commercial, and industrial structures than other Nordic nations. The Swedish market for concrete floor coverings is being driven by the highly developed building and construction sector as well as an increase in renovation projects.
The need for floor paints is anticipated to rise in Sweden as a result of industrialization and the country's abundance of vital industries, including forestry, iron and steel, medicines, home goods, telecommunications, industrial machines, and chemical goods.
What is the demand outlook for Epoxy Resin Type in the Floor Paints Market market?
Epoxy Resin Type in Floor Paints dominates the market with an impeccable market share of 52.70% by value. Epoxy Floor Paints are applied to concrete floors in many industrial and commercial environments, such as factories, warehouses, stores, showrooms, garages, hospitals, and aviation hangars. These coatings offer a lovely, high-gloss appearance and are available in a variety of hues. Epoxy floor Paints are applied on terrazzo, Chip, and colored aggregate flooring for ornamental purposes. The coatings offer a flooring alternative that is simple to maintain and chemically resistant and may be applied directly over both new and old concrete floors.
How does the Cement & Mortar segment fairing in the Floor Paints Market?
The market for floor coatings was dominated by the cement and mortar segment. In the market for floor paints, the sector has a dominating 70.6% market share. Floor Paints are used in a variety of techniques that cover bare concrete surfaces to improve their look. For the application of Floor Paints, various sectors have established color standards and rules. There are several coating kinds for various applications, such as a concrete sealer, which needs the least preparation work before application. Sealers are applied to concrete surfaces to prevent spills of chemicals and food, as well as to make cleaning easier.
Market Players are spending money all over the world to enhance their Floor Paints production capacity to meet the growing demands of end consumers. The numerous technological developments and the major competitors' increasing efforts to expand through mergers, strategic alliances, and agreements have produced a wide spectrum of market opportunities. Players are working extremely hard to create and implement cutting-edge technological advancements to stay one step ahead of the competition. All of these developments imply that the Floor Paints market has enormous potential for global growth in the years to come.
For instance,
| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
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Key Countries Covered |
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Key Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available Upon Request |
By Resin Type, the Floor Paints market is segmented as:
By Product type, the Floor Paints market is segmented as:
By Floor type, the Floor Paints market is segmented as:
By Application, the Floor Paints market is segmented as:
By Country:
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The global market of Floor Paints is estimated to reach a valuation of US$ 85.0 Mn in 2023.
The Floor Paints demand is anticipated to witness a growth rate of 2.7% over the forecast period of 2023 and 2033 in terms of value.
According to PMR analysis, AkzoNobel, Jotun Group, RPM International Inc., Sika AG, Sherwin Williams, PPG Industries, Hempel A/S, Axalta Coating System, Technica Group, Hagman's Nordic AB, Rust-Oleum, Tikkurila Oyj, Teknos Fosroc Inc., Woca Denmark A/S, ECOS paints, Welesgard, Nor-Maali, Esbjerg paints, PLP Coatings others are identified as the key manufacturers in the Floor Paints market.
Key players in the Nordic Floor Paints market are expected to account for about 80.3% of the overall market share.
The top countries driving the Nordic Floor Paints demand are Sweden, Norway, and Denmark.
