Data collated by Persistence Market Research, regarding ‘Floor Paints Market’ unveils a succinct analysis of the market size, regional spectrum and revenue forecast about the Floor Paints market. Furthermore, the report points out major challenges and latest growth plans embraced by key manufacturers that constitute the competitive spectrum of this business domain.
Floor is the area in a building which is exposed the most and subjected to a lot of wear and tear, hence requires flooring or a coating for its maintenance. Floor paints provide protection to the surface of floor, it’s a very good decorative aspect and have simple application. Floor paints also offers chemical resistance and high abrasion for chemical and industrial plants.
Floor Paints are usually composed of Polyurethane, alkyd (oil), epoxy or latex based which are available in various product types. Oil and latex or polyurethane can be used to paint any type of floor surface. These are also referred as binders which holds the materials together forming an adhesive, giving shock absorbent and elastic adhesion property to the floor coating material. These binders determines abrasion resistance, hardness, flexibility adhesion, drying speed, gloss level and durability of floor paint.
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Further, Selection of Floor paints depends on the floor type as well such as wooden floor, Mortar Floor etc. Furthermore, they are also selected on the basis of coating component i.e. one component coating, two component coating or three component coating. One component coating or 1k of floor paints is a coating which does not require an activator, hardener or a catalyzer, it just vaporizes once exposed to air. Polyurethane (one component) coating are generally used to block blistering in floor coating as it offers low thickness. Water Based (one component) polyurethane floor paints be easily applied via industrial method. It is economical, eco-friendly, and efficient for indoor application. Hence it’s the standard Floor paint. Two component or 2k Polyurethane is a type of floor paint which requires hardener, catalyzer or an activator and after it’s hardens, it shows high resistance from UV rays, weather and chemicals.
Major application of floor paints are in residential, commercial, healthcare, educational and industrial buildings and their garages.
Floor Paints Market: Dynamics
Increased expenditure of government on manufacturing and infrastructure facilities will surely influence Floor Paints market growth. Rise in consumer choice for better finishing ability with good chemical resistance and high mechanical strength of floor coating will definitely demand for more floor paints. Increased concern of quality, contamination, hygiene and purity of goods in food and beverage industry is one of the key drivers of floor paint market.
Epoxy is mostly preferred due to its durability in sever environment conditions and its solvent resistance & high adhesion qualities. Another trending floor paint type is Polyurethane for outdoor application as it offers protection from UV Rays and mostly used in unit of food processing, garages and warehouse.
Four component flood paints (epoxy coating) has good potential in market as they are available in number of colors and can withstand wheels traffic. Another component; 2K (Polyurethane) owns the lion’s share of the floor paint market and is expected to see more opportunities in future due to its some consumer driving qualities such as its glossy pigments provide great durability against friction.
However, Floor paints are being replaced by flooring (Laminating, tiles, carpet or vinyl) in slight extent and hence effecting the market of floor paints.
Floor Paints Market: Segmentation
Segmentation of floor paint market by binder type:
- Alkyd (oil)
Segmentation of floor paint market by Coating component:
- 1K ( single component)
- 2K (Two component)
- 3K (Three component)
- 4k (four component)
Segmentation of floor paint market by Floor Structure:
Segmentation of floor paint market by end use:
- Residential buildings and garages
- commercial buildings and garages
- Industrial Premises
Floor Paints Market: Regional Outlook
Asia pacific dominates the market of floor paints owing to accelerating growth of construction industries in china and India. Also, Indian government and government of china have emphasized on development of infrastructure in their 12th five year plan which will hugely influence market of floor paints.
Development of infrastructure in Automobile, Educational, healthcare and gas & oil sectors in Mexico will expand the market of floor paints in North America and will bring more opportunities in coming years. PAC (growth acceleration program), a newly launched program for funding and improving public housing in Brazil will bring more sales of floor paints in south America resulting in decent market growth.
Floor Paints Market: Key Players
- PPG Industries
- Axalta Coating Systems
- Asian Paints
- Akzo Nobel
- Roto Polymers
- Maris Polymers
- RPM International
- Milliken & Company
- Florock Polyme