Floor Coatings Market Outlook 2031
- The global floor coatings market was valued over US$ 4.5 Bn in 2020
- It is estimated to expand at a CAGR of 6.3% from 2021 to 2031
- The global floor coatings market is expected to cross the value at US$ 8.7 Bn by the end of 2031
Request For Brochure :https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=78664
Analysts’ Viewpoint on Floor Coatings Market Scenario
Manufacturers in the floor coatings market are concentrating on key revenue generating industries such as healthcare facilities, educational institutes, and government organizations to maximize profits amid the COVID-19 outbreak. However, emerging companies should gain sufficient knowledge about VOC content acceptable as per different regions of the world for manufacturing floor coatings. Hence, companies should comply with national and local regulatory authorities to adhere with the guidelines. The rise in usage of polyaspartic, epoxy, and polyurethane in concrete is a key factor that is expected to boost the expansion of the global floor coatings market during the forecast period. Floor coatings are known to enhance the floor conditions and protect them from wear & tear.
Enquiry Before Buying:https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=78664
AEC Industry Creates Favorable Revenue Streams for Floor Coating Manufacturers
Floor coatings are almost omnipresent in different places such as residential, commercial, industrial, and government sectors, among others. This explains why the global floor coatings market is projected to advance at a favorable CAGR throughout the assessment period. The ever-expanding architecture, engineering and construction (AEC) industry is generating incremental opportunities for floor coating manufacturers. This is evident as floor paints and coatings are an essential part of any house renovation or construction project.
Floor coatings are being used for mission-critical projects including for surfaces with heavy wear and corrosion such as manufacturing floors, warehouses, and at chemical plants. Leading-edge floor coatings help to enhance worker safety. Antiskid or non-slip epoxy floor paints help to minimize injury resulting from falls and slips.
Request for Covid19 Impact Analysis:https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=78664
Supply Chain Resilience Gaining Importance amid COVID-19 Outbreak
Import and export of floor coatings is projected to rise, owing to an increase in shipment and demand trends amid the COVID-19 outbreak. Companies in the floor coatings market are avoiding disruption across customer demand, supply of materials, and availability of logistics services to ensure business continuity.
Several multinational companies (MNCs) have already started re-evaluating their supply chains, and are in the process of shuffling their supply chains to reduce concentration in a handful of countries. They are increasing their local production capabilities and sourcing alternate supply partners to keep economies moving forward. The industry is likely to witness steady expansion driven by increase in demand for floor coatings with better resolution of supply chain issues in various countries.
Buy Now :https://www.transparencymarketresearch.com/checkout.php?rep_id=78664<ype=S
VOC Content in Floor Coatings Requires Strict Compliance by Manufacturers
One of the challenges for companies in the floor coatings market is the presence of VOCs (Volatile Organic Compounds) in products. Hence, manufacturers must adhere to regulations for products since national and local regulators treat acceptable VOCs differently based on the application & industry. Often referred to as Intended Use Categories, these applications include everything from industrial high-heat coatings to floor coatings.
On the other hand, manufacturers are increasing output capacities in floor coatings that offer anti-vibration, anti-static, and waterproof properties. They also provide a better finish to floors and concrete. These floor coatings can be applied in warehouses, residential flats, hotels, offices, and the likes.
Explore Transparency Market Research’s award-winning coverage of the global Industry:https://www.prnewswire.com/news-releases/naphthenic-base-oil-market-to-surpass-valuation-of-us-3-6-bn-by-2031-notes-tmr-study-301539745.html
Asia Pacific and Europe Dictated by Presence of High-volume Manufacturers
The rapid urbanization in countries of Asia Pacific is contributing to a large revenue share of the global floor coatings market during the forecast period. The market in the region is likely to expand at an exponential CAGR. The increase in demand for epoxy as an additive in building materials is driving the market in Asia Pacific.
China holds lucrative opportunities for floor coating manufacturers in Asia Pacific. It held major share of the floor coatings market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period. On the other hand, Europe is also a key region of the market. The presence of a large number of paint manufacturers is driving the demand for floor coatings in Europe.
About Us :
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
0 Comments