Floor Coatings Market Size, Share, Growth Analysis, By End-User (Residential, Industrial), By Product (Epoxy, Polyaspartic), By Component (Single Component, Double Component), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2316 | Region: Global | Published Date: September, 2024
Pages: 184 |Tables: 147 |Figures: 78

Floor Coatings Market Insights

Global Floor Coatings Market size was valued at USD 3.1 Billion in 2022 and is poised to grow from USD 3.30 Billion in 2023 to USD 5.72 Billion by 2031, at a CAGR of 6.3% during the forecast period (2024-2031).

The rise in use of floor coatings in wide application in residential, commercial, and industrial settings, including warehouses, factories, healthcare facilities, and retail spaces are the key growth drivers. The purpose of the floor coatings market is to provide protective and decorative solutions for different types of floors. These coatings not only enhance the appearance of floors but also protect them from wear and tear, stains, and damage, thereby extending their lifespan. Additionally, floor coatings offer benefits such as easy cleaning and maintenance, slip resistance, and improved safety. The market includes the need for continuous innovation to develop coatings with improved performance properties, such as higher durability and resistance to chemicals and abrasion.

Adhering to stringent environmental regulations and addressing the growing concerns regarding sustainability are also challenges faced by market participants. The global floor coatings market serves the purpose of providing protective and decorative solutions for various types of floors. It is driven by the construction industry, the demand for sustainable coatings, and the need for enhanced durability and aesthetics. While restraining factors and challenges exist, the market presents opportunities for innovation, expansion, and meeting the evolving demands of different industries.

Market Snapshot - 2024-2031

Global Market Size

USD 3.30 Billion

Largest Segment

Commercial

Fastest Growth

Residential

Growth Rate

6.3% CAGR

Global Floor Coatings Market ($ Bn)
Country Share for North America Region (%)

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Floor Coatings Market Segmental Analysis

The global floor coatings market is segmented by end-user, product, application component and region. Based on end-user, the market is segmented into residential, industrial, and commercial. In terms of product, the market is segmented into epoxy, polyaspartic, polyurethane, acrylic, methyl methacrylate. Based on component the market is segmented into Single Component, Double Component, Triple Component and Others. Based on application, Concrete, Wood, Terrazzo and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Floor Coatings Market Analysis by End-User   

The largest segment in terms of end-users is the commercial sector, which encompasses a wide range of establishments such as offices, retail stores, hospitality venues, healthcare facilities, and educational institutions. The commercial sector holds a significant share in the floor coatings market, driven by the need for durable and aesthetically pleasing flooring solutions. These establishments require floor coatings that can withstand high foot traffic, abrasion, stains, and other wear and tear, while also providing an attractive appearance to enhance the overall ambiance. The demand for floor coatings in the commercial sector is also driven by the growing emphasis on maintaining cleanliness, hygiene, and safety standards in public spaces. 

The fastest-growing segment in the floor coatings market is the residential sector. The residential segment includes homes, apartments, and other residential buildings. The demand for floor coatings in the residential sector is witnessing significant growth due to infrastructure development, urbanization, and rising disposable incomes, leading to increased construction and renovation activities. Homeowners are increasingly opting for floor coatings to enhance the durability, aesthetics, and ease of maintenance of their floors. Moreover, the growing trend of DIY (do-it-yourself) floor coating kits and the availability of a wide range of colors, finishes, and textures are further driving the demand in the residential sector. 

Floor Coatings Market Analysis by Product 

Epoxy coatings dominate the market due to their excellent durability, chemical resistance, and high-performance characteristics. They offer exceptional adhesion to various substrates, including concrete, and provide a seamless, glossy finish that enhances the aesthetic appeal of the floor. Epoxy coatings are widely used in a variety of applications, such as industrial facilities, warehouses, commercial spaces, and garages, where a robust and long-lasting flooring solution is required. The versatility and superior performance of epoxy coatings have made them the preferred choice for many end-users, driving their prominence in the market. 

The fastest-growing segment in the floor coatings market is polyaspartic coatings. Polyaspartic coatings offer several advantages that contribute to their rising popularity. These coatings exhibit fast cure times, allowing for quick installations and reduced downtime. They also possess excellent UV resistance, making them suitable for both indoor and outdoor applications. Polyaspartic coatings provide high abrasion resistance, chemical resistance, and a glossy finish, making them ideal for various end-use sectors such as commercial buildings, industrial facilities, and residential properties. The growing demand for efficient and time-saving flooring solutions, coupled with the superior performance properties of polyaspartic coatings, is driving their rapid growth in the market. 

Floor Coatings Market Analysis by Component 

The market has been divided into single, double, triple, and other segments based on the components. With a 48.6% sales share in 2018, the single-component sector was the largest, followed by the double-component segment. The market for single-component coatings is expected to increase due to growth in the residential sector, particularly with infrastructure development including indoor playgrounds, pathways, and other features.  

 Single-component floor coatings are inexpensive, simple to apply, impermeable, and have good adherence to the concrete surface. They give the surface a semi-glossy sheen. Due to these characteristics, the coating may be used in a variety of locations, such as parking lots, businesses, warehouses, basements, hangars for aero planes, and more. 

Floor Coatings Market Analysis by Application 

In the worldwide floor coatings market, the concrete, wood, terrazzo, and other application sectors are major players. According to estimates, the greatest application sector in 2018 was concrete. Concrete floor coatings are used in many techniques to improve the look of bare concrete surfaces.  

Several sectors have established colour codes and guidelines for applying concrete floor coatings. For example, a concrete sealer needs the least amount of labour prior to application. There are several coating kinds available for different uses. Sealers are used to make cleaning concrete surfaces easier and to prevent food stains and chemical spills. 

Global Floor Coatings Market By End user

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Floor Coatings Market Regional Insights

Asia-Pacific is poised to dominate the floor coatings market both in terms of revenue growth and market share. This can be attributed to the significant investments in the building and construction sector, coupled with rapid infrastructure development taking place in the region. Among the countries in the Asia-Pacific region, China stands out as a major revenue generator due to its exponential growth in construction activities. The surge in construction projects across various sectors has led to a high demand for decorative floor coatings. 

Europe is expected to witness the fastest development in the floor coatings market during the forecast period of 2023-2030. This growth can be attributed to the increasing number of commercial and residential construction projects and infrastructure development activities taking place in the region. The report's country section provides detailed insights into the market factors and regulatory changes specific to each country, which impact on the current and future trends of the market. Factors such as downstream and upstream value chain analysis, technical trends, Porter's Five Forces analysis, and case studies are taken into consideration to forecast the market scenario for individual countries.  

Global Floor coatings Market By Region
  • Largest
  • Fastest

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Floor Coatings Market Dynamics

Floor Coatings Market Drivers

Growing Construction Industry

  • The construction industry has been a major driver of the floor coatings market. In 2022, there has been an increase in construction activities globally, particularly in emerging economies. For example, countries like China, India, and Brazil have witnessed robust construction growth, leading to a higher demand for floor coatings in residential, commercial, and industrial projects.

Increasing Focus on Sustainable Solutions

  • Sustainability has emerged as a key driver in the floor coatings market. In 2022, there has been a greater emphasis on eco-friendly and sustainable floor coating solutions. Manufacturers are developing low VOC (volatile organic compounds) and water-based coatings to meet the growing demand for environmentally friendly products. This trend is driven by stricter regulations and a growing awareness of the environmental impact of traditional coating materials.

Floor Coatings Market Restraints

Volatility in Raw Material Prices

  • The floor coatings market has faced challenges due to the volatility in raw material prices. Fluctuations in the prices of key ingredients, such as resins and pigments, can impact the overall cost of floor coatings. Manufacturers may face difficulties in maintaining stable pricing and profitability, which can act as a restraint in the market.

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Floor Coatings Market Competitive Landscape

The global floor coatings market features a competitive landscape characterized by a mix of established players and emerging companies striving to gain a strong foothold in the industry. Key market players are continuously focusing on research and development activities to introduce innovative products and strengthen their market position. Additionally, strategic collaborations, partnerships, mergers, and acquisitions are common strategies adopted by these companies to expand their geographical presence and customer base. To maintain a competitive edge, companies are focusing on developing environmentally friendly and sustainable floor coating solutions to align with the growing demand for eco-friendly products. They are also investing in research and development to introduce advanced technologies and formulations that offer enhanced performance characteristics such as improved durability, abrasion resistance, chemical resistance, and quick curing times.

Floor Coatings Market Top Player’s Company Profiles

  • Sherwin-Williams Company (US) 
  • Akzo Nobel N.V. (Netherlands) 
  • PPG Industries Inc. (US) 
  • RPM International Inc. (US) 
  • BASF SE (Germany) 
  • Asian Paints Ltd. (India) 
  • Nippon Paint Holdings Co., Ltd. (Japan) 
  • Axalta Coating Systems Ltd. (US) 
  • Jotun Group (Norway) 
  • Hempel A/S (Denmark) 
  • Sika AG (Switzerland) 
  • Benjamin Moore & Co. (US) 
  • Kansai Paint Co., Ltd. (Japan) 
  • Berger Paints India Limited (India) 
  • Rust-Oleum Corporation (US) 
  • Masco Corporation (US) 
  • Nippon Paint (USA) Inc. (US) 
  • Teknos Group Oy (Finland) 
  • DAW SE (Germany) 
  • Mapei S.p.A. (Italy) 
  • Royal DSM N.V. (Netherlands) 
  • Ardex Group (Germany) 
  • RPM Belgium Vandex (Belgium) 
  • Florock Polymer Flooring (US)

Floor Coatings Market Recent Developments

  • In March 2024, Jon-Don, a supplier of commercial supplies, equipment, consumables, and know-how for specialty contractors, announced that it has partnered with PPG to expand its offering of resinous floor coatings for concrete flooring.

  • In November 2023, James Millsaps, founder of Perrysburg, OH based Gorilla Concrete Coatings, announced that the company is rebranding to LYNX Concrete Coatings.

  • In May 2023, PPG announced a major expansion of its PPG FLOORING concrete coatings offering. The expanded range comprises integrated systems of primers, base and topcoats for environments that require electrostatic protection, for equipment mechanical rooms and for applications where a combination of high performance and ultra-fast return to service is essential.

Floor Coatings Key Market Trends

  • Focus on Decorative and Aesthetic Flooring: In 2022, there has been a growing trend towards decorative and aesthetically appealing flooring solutions. Consumers are increasingly looking for floor coatings that offer unique designs, patterns, and finishes to enhance the visual appeal of their spaces. This trend is particularly prominent in the residential and commercial sectors, where floor coatings are used as a means of interior decoration.
  • Technological Advancements: The floor coatings market has witnessed advancements in technology, leading to the development of innovative coating solutions. In 2022, there has been a focus on advanced formulations, such as self-leveling coatings, high-performance coatings with improved durability and chemical resistance, and faster-curing coatings. These technological advancements aim to provide better performance, ease of application, and longer-lasting results.

Floor Coatings Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global floor coatings market analysis, the growing construction industry, increasing demand for sustainable flooring solutions, and the need for floor protection in residential, commercial, and industrial sectors are the key growth drivers. The construction industry plays a crucial role in the floor coatings market, as it drives the demand for coatings in new construction projects and renovation activities. The global floor coatings market is witnessing growth due to the construction industry's expansion, increasing demand for sustainable solutions, and the need for floor protection. The market is expected to continue growing as manufacturers focus on innovation and meeting customer requirements.

Report Metric Details
Market size value in 2022 USD 3.1 Billion
Market size value in 2031 USD 5.72 Billion
Growth Rate 6.3%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • End-User
    • Residential, Industrial, and Commercial
  • Component
    • Single Component, Double Component, Triple Component and Others
  • Application
    • Concrete, Wood, Terrazzo and Others
  • Product
    • Epoxy, Polyaspartic, Polyurethane, Acrylic, and Methyl Methacrylate
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Sherwin-Williams Company (US) 
  • Akzo Nobel N.V. (Netherlands) 
  • PPG Industries Inc. (US) 
  • RPM International Inc. (US) 
  • BASF SE (Germany) 
  • Asian Paints Ltd. (India) 
  • Nippon Paint Holdings Co., Ltd. (Japan) 
  • Axalta Coating Systems Ltd. (US) 
  • Jotun Group (Norway) 
  • Hempel A/S (Denmark) 
  • Sika AG (Switzerland) 
  • Benjamin Moore & Co. (US) 
  • Kansai Paint Co., Ltd. (Japan) 
  • Berger Paints India Limited (India) 
  • Rust-Oleum Corporation (US) 
  • Masco Corporation (US) 
  • Nippon Paint (USA) Inc. (US) 
  • Teknos Group Oy (Finland) 
  • DAW SE (Germany) 
  • Mapei S.p.A. (Italy) 
  • Royal DSM N.V. (Netherlands) 
  • Ardex Group (Germany) 
  • RPM Belgium Vandex (Belgium) 
  • Florock Polymer Flooring (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Floor Coatings Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Floor Coatings Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Floor Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Floor Coatings Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Floor Coatings Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Floor Coatings Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Floor Coatings Market size was valued at USD 3.1 Billion in 2022 and is poised to grow from USD 3.30 Billion in 2023 to USD 5.72 Billion by 2031, at a CAGR of 6.3% during the forecast period (2024-2031).

The global floor coatings market features a competitive landscape characterized by a mix of established players and emerging companies striving to gain a strong foothold in the industry. Key market players are continuously focusing on research and development activities to introduce innovative products and strengthen their market position. Additionally, strategic collaborations, partnerships, mergers, and acquisitions are common strategies adopted by these companies to expand their geographical presence and customer base. To maintain a competitive edge, companies are focusing on developing environmentally friendly and sustainable floor coating solutions to align with the growing demand for eco-friendly products. They are also investing in research and development to introduce advanced technologies and formulations that offer enhanced performance characteristics such as improved durability, abrasion resistance, chemical resistance, and quick curing times. 'Sherwin-Williams Company (US) ', 'Akzo Nobel N.V. (Netherlands) ', 'PPG Industries Inc. (US) ', 'RPM International Inc. (US) ', 'BASF SE (Germany) ', 'Asian Paints Ltd. (India) ', 'Nippon Paint Holdings Co., Ltd. (Japan) ', 'Axalta Coating Systems Ltd. (US) ', 'Jotun Group (Norway) ', 'Hempel A/S (Denmark) ', 'Sika AG (Switzerland) ', 'Benjamin Moore & Co. (US) ', 'Kansai Paint Co., Ltd. (Japan) ', 'Berger Paints India Limited (India) ', 'Rust-Oleum Corporation (US) ', 'Masco Corporation (US) ', 'Nippon Paint (USA) Inc. (US) ', 'Teknos Group Oy (Finland) ', 'DAW SE (Germany) ', 'Mapei S.p.A. (Italy) ', 'Royal DSM N.V. (Netherlands) ', 'Ardex Group (Germany) ', 'RPM Belgium Vandex (Belgium) ', 'Florock Polymer Flooring (US)'

The construction industry has been a major driver of the floor coatings market. In 2022, there has been an increase in construction activities globally, particularly in emerging economies. For example, countries like China, India, and Brazil have witnessed robust construction growth, leading to a higher demand for floor coatings in residential, commercial, and industrial projects.

Focus on Decorative and Aesthetic Flooring: In 2022, there has been a growing trend towards decorative and aesthetically appealing flooring solutions. Consumers are increasingly looking for floor coatings that offer unique designs, patterns, and finishes to enhance the visual appeal of their spaces. This trend is particularly prominent in the residential and commercial sectors, where floor coatings are used as a means of interior decoration.

Asia-Pacific is poised to dominate the floor coatings market both in terms of revenue growth and market share. This can be attributed to the significant investments in the building and construction sector, coupled with rapid infrastructure development taking place in the region. Among the countries in the Asia-Pacific region, China stands out as a major revenue generator due to its exponential growth in construction activities. The surge in construction projects across various sectors has led to a high demand for decorative floor coatings. 

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