Floor Coatings Market Size- Growth Drivers, Opportunities and Forecast Analysis to 2023
Market Insights
The Floor Coatings Market appears to be less
competitive with the presence of only few major global chemicals and materials
manufacturers operating in the floor coatings market. Presence of few key
players will lead to monopoly situation and competitive edge in innovation and
technology is expected to be indelicate. As these materials are pricing at
higher costs in the current markets and increasing demand for floor coatings
materials in residential and industrial applications will influence the end
user products from these industries. Floor coatings market demonstrates a high
growth potential as the demand for these materials is increasing other key players
are likely to invest in opening new production capacities to meet the global
demand with better solutions.
Floor coatings Market - Synopsis
The Global Floor Coatings Market Size is increasing
with the rapid growth; mainly due to the flourishing construction industry. The
global construction market is anticipated to increase at an impulsive pace than
world GDP over the forecast period. As Asian economies continue to industrialise
and the US recovers from the sharp downturn during the global financial crisis
is driving the construction industry. According to a recent study report
published by the Market Research Future, the global market of Floor coatings is
increasing and expected to witness influence over the forecast period. The
market is forecasted to demonstrate a stunning growth by 2023, surpassing its
previous growth records in terms of value with a striking CAGR during the
estimated period (2017 – 2023).
Globally, the market for floor coatings is driven
by the region Asia pacific, rapid development in construction and oil & gas
industries population is driving the floor coatings market. The chief function
of a protective coating is to prevent moisture and oxygen from reaching the
substrate. Floor coatings materials are
extensively used in the air conditioning applications (HVAC) to maintain
cooling and humidity control in residential and non-residential properties, and
public transport. Floor coatings materials possess low thermal conductivity,
high levels of shear and compression strength, low density and light weight,
and strong adhering properties. These materials helps to conserve mass, energy
and cost economize various industrial processes.
These coatings can be formulated in a wide range of
colors and finishes while still maintaining high levels of chemical resistance
and durability. As good and as tough as these coatings may be, they are still
vulnerable to delamination and, in some cases, blistering. On the other hand,
emission of harmful volatile organic compounds (VOCs) when exposed to extreme
harsh conditions of temperatures and chemical attacks which is in turn expected
to influence floor coatings market.
Floor coatings materials such as polyaspartic,
acrylic, polypropylene, polyester, epoxy, and vinyl ester are costlier but they
are capable to deliver high performance for long run purposes. These high value
added products widely used to provide properties such as strong surface,
excellent mechanical durability ease of
cleaning withstanding of chemical
stresses well ease and simplicity of
application. Floor coatings are used in applications such as residential,
commercial and industrial construction activities.
Acrylic based floor coatings are most widely used
floor coatings on concrete flooring constructions and followed by polyaspartic.
Epoxy based floor coatings can be utilized for multiple coatings purposes such
as coating industrial machinery and also concrete flooring.
Key Players
·
Akzo Nobel
N.V.
·
BASF SE
·
The Dow
Chemical Company
·
Arkema S.A.
·
The
Sherwin-Williams Company
·
Asian Paints
Ltd.
·
RPM
International Inc.
·
3M Company
·
PPG Industries
Inc.
·
CPC Floor
Coatings
Industry/ Innovation/
Related News:
December 2016 – Akzonobel N.V. (the Netherlands), one of the key
manufacturers of Floor coatings also having presence in India. The company
announced that AkzoNobel India has acquired the industrial coatings business of
BASF India Ltd for Rs 11.17 crores. This follows the closure of global acquisition
of BASF's industrial coatings business by AkzoNobel. By this acquisition,
AkzoNobel, bringing expertise to innovate and serve an expanded customer base
worldwide.
December 2016 – BASF SE (Germany), is one the leading manufacturers
of floor coatings in the world, has announced their product Ucrete MF40AS BASF
has launched a new heavy-duty antistatic flooring system that is based on a
polyurethane cement technology. It complements the BASF product portfolio of
chemical solutions for construction, which is bundled under the Master Builders
Solutions® brand. Ucrete MF40AS offers numerous advantages in terms of a safe
and aesthetic working environment, robustness and durability. Its antistatic
properties protects flooring system from electrostatic-sensitive devices and
can be used in explosion hazard areas. On this new innovation keeps the BASF
ahead in the race for new innovative products in the global market for floor
coatings over the forecast period.
About
Market Research Future:
At Market Research Future (MRFR), we enable our customers to
unravel the complexity of various industries through our Cooked Research Report
(CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R),
Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality
market research and intelligence services to our clients. Our market research
studies by Components, Application, Logistics and market players for global,
regional, and country level market segments, enable our clients to see more,
know more, and do more, which help to answer all their most important
questions.
Access Complete Report @ https://www.marketresearchfuture.com/reports/bleaching-chemicals-market-2502
Comments
Post a Comment