According to a new report, published by KBV research, The Global Floor Coatings Market size is expected to reach $5 billion by 2030, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,086.32 kilo tonnes, experiencing a growth of 4.9% (2019-2022).
The Industrial segment is leading the Global Floor Coatings Market by End-User in 2022; thereby, achieving a market value of $2.2 billion by 2030. Industrial floor coatings are known for their exceptional durability and wear resistance. These coatings can withstand heavy foot traffic, heavy equipment movement, and impact from abrasive materials. The protective layer formed by the coating helps extend the lifespan of industrial floors. Safety is a primary consideration in industrial settings, and industrial floor coatings frequently incorporate slip-resistant properties. These coatings provide traction underfoot, reducing the risk of slips and falls, especially in areas prone to spills or wet conditions.
The Polyurethane segment is registering a CAGR of 5.7% during (2023 - 2030). Polyurethane coatings resist various chemicals, including oils, acids, and cleaning agents. This chemical resistance is particularly valuable in industrial and commercial environments where floors are exposed to various substances. Polyurethane coatings protect the underlying substrate from chemical damage, ensuring the integrity of the flooring. Polyurethane floor coatings can be applied seamlessly, eliminating joints and seams where dirt and contaminants accumulate. The seamless surface is not only visually appealing but also easy to clean. This characteristic is beneficial in environments where cleanliness is a priority, such as healthcare facilities, laboratories, and food processing areas.
The Concrete segment dominated the Global Floor Coatings Market by Application in 2022; thereby, achieving a market value of $2.3 billion by 2030. Concrete floor coatings are extensively used in industrial settings, including manufacturing plants, warehouses, and distribution centers. These coatings' chemical resistance and durability enable them to withstand industrial processes, foot traffic, and heavy machinery. Epoxy, polyurethane, and other specialized coatings enhance the longevity of industrial concrete floors. Educational institutions like schools and universities benefit from applying concrete floor coatings in high-traffic areas like hallways, cafeterias, and gymnasiums. These coatings' durability and ease of maintenance make them suitable for educational environments.
The Single Component segment is showcasing a CAGR of 6.3% during (2023 - 2030). Single component coatings eliminate the need for precise mixing ratios, a characteristic of two-component coatings. The absence of complex mixing requirements simplifies the application process, reduces the likelihood of errors during mixing, and minimizes waste. This simplicity appeals to a broad range of users, including those with limited experience in coating applications. Single-component coatings typically have faster application and drying times compared to two-component systems. This quick turnaround is beneficial when minimizing downtime is crucial, such as in commercial and industrial settings. Fast curing and drying times enable quicker return to service, reducing disruptions to daily operations.
Full Report: https://www.kbvresearch.com/floor-coatings-market/
The Asia Pacific region is anticipating the Global Floor Coatings Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.9 billion by 2030. The Europe region is experiencing a CAGR of 5.2% during (2023 - 2030). Additionally, The North America region would exhibit a CAGR of 5.7% during (2023 - 2030).
By End-User (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Component (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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