Floor Coatings Market Size To Reach $5.11 Billion By 2030

Floor Coatings Market Growth & Trends

The global floor coatings market size is anticipated to reach USD 5.11 billion by 2030 and is projected to grow at a CAGR of 6.9% during the forecast period, according to a new report by Grand View Research, Inc. The growth is majorly attributed to its wide use in commercial and industrial applications such as warehouses, hospitals, manufacturing and industrial plants, showrooms, commercial and retail stores, garages, and airplane hangars. The coating protects floors from moisture, stains, and cracks and provides a high-performance, smooth, and durable surface that lasts several years and withstands heavy loads.

Moreover, the product manufacturers are designing VOC-free and environment-friendly coatings to cater to the increasing demand for such products in green buildings. With the rising demand for green buildings, the product market is also expected to grow substantially over the forecast period. Various properties of the product, such as excellent wear resistance and durability, extreme temperature resistance, high gloss, and excellent surface quality, are projected to further fuel their demand for green building activities.

There has been growing demand for tile flooring among residential & commercial applications owing to its benefits such as low maintenance, insulation, anti-corrosion, durability, and water, stain, odor, and bacteria resistance. Flooring tiles are usually made of raw materials such as glass, sand, and clay. Various residential applications, such as flats, apartments, single-family housing units, and others, widely adopt tiles over coatings for flooring. The aesthetic and visual appearance of flooring plays a vital role in driving flooring tiles over floor coatings.

The product market is highly regulated by governmental and environmental norms globally. The use of solvents in the formation of floor coatings contributes to environmental pollution as it is a key contributor to the formation of ozone levels. In addition, exposure to VOCs during the manufacturing and installation process adversely affects human health. Thus, with the rising environmental and human health concerns, the use of VOCs in floor coatings is strictly being monitored by several regional, local, and national regulations.

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Floor Coatings Market Report Highlights

• The epoxy coatings segment dominated the market with a revenue share of 40.7% in 2023, as epoxy coatings are widely used on concrete floors in several industrial and commercial applications

• The single-component segment dominated the market with a revenue share of 48.2% in 2023. The single-component product offers a convenient and effective solution for protecting and enhancing the durability and appearance of floors in various settings.

• The concrete application segment dominated the market with a revenue share of 48.2% in 2023. Concrete floor coatings are specialized products applied to concrete surfaces to enhance their durability, aesthetics, and performance in various residential, commercial, and industrial settings.

• The industrial segment dominated the market with a revenue share of 44.5% in 2023. The product is used in various industries. The demand for floor coatings from different industries is expected to grow during the forecast period owing to their wear and temperature resistance and anti-slip properties.

• Asia Pacific region dominated the global market with a revenue share of 41.9% in 2023, which is attributed to rising construction activities and growing demand from the construction sector in emerging countries, such as India, Japan, and South Korea.

Floor Coatings Market Segmentation

Grand View Research has segmented the global floor coatings market based on product, component, application, end use, and region:

Floor Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Epoxy

• Polyaspartic

• Polyurethane

• Acrylic

• Methyl Methacrylate

Floor Coatings Component Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Single Component

• Double Component

• Triple Component

• Others

Floor Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Concrete

• Wood

• Terrazzo

• Others

Floor Coatings End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Residential

• Industrial

• Commercial

Floor Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Floor Coatings Market

• Flowcrete Group Ltd.

• BASF SE

• Stonhard

• AKZO NOBEL N.V.

• Asian Paints Limited

• Terrazzo & Marble Supply

• Maris Polymers

• 3M

• Koninklijke DSM N.V.

• Michelman, Inc.

• AXALTA COATING SYSTEMS LTD.

• Chugoku Marine Paints, Ltd.

• Hempel A/S

• Kansai Paint Co., Ltd.

• Nippon Paint Holdings Co., Ltd.

• Grnd Polycoats

• Florock Polymer Flooring

• CPC Floor Coatings

• Tikkurila Oyj

• Teknos Group

• Mapei S.p.A.

• LATICRETE International, Inc.

• The Jotun Group

• ArmorPoxy

• Arkema

• PPG Industries, Inc.

• The Sherwin-Willams Company

• Tambour

• The Dow Chemical Company

• The Lubrizol Corporation

• Sika Group