The global floor coatings market accounted for $1,666 million revenue in the year 2015, and is expected to reach $2,612 million by 2022, supported by a CAGR of 6.6%.Increased globalization is a key factor in restructuring the floor coatings industry. A shift in the industry trends is observed owing to rapid economic growth in India and China.
The economic growth is set to foster the ongoing urbanization, with many countries in Asia-Pacific still being largely rural. Moreover, the growth in population in these countries is expected to boost the demand for housing and commercial infrastructure, which in turn is projected to drive the floor coatings market during the forecast period.
According to Asian Development Bank, Asia is estimated to invest $8-9 trillion in infrastructure development between 2010 and 2020 to maintain its economy. The heavy investment in building & construction industry due to the global economic development and rise in population in both developed and developing countries is projected to fuel the floor coatings market.
The high benefits coupled with professional finish are the major driving factors for the growth of floor coatings market in LAMEA. The LAMEA floor coatings market revenue was $167 million in 2015, and is projected to grow at a CAGR of 6.3% to reach $257 million by 2022.
Leading players in the global floor coatings market have adopted various strategies gathered from press releases, annual reports, and primary calls made to industry experts to achieve additional market share. Market players profiled in this report are floor coating manufacturers and distributors catering to industrial, commercial, and residential industries.
Key players profiled in the report include BASF SE, Akzo Nobel NV, Tambour, The Dow Chemical Company, The Arkema Group, The Sherwin Williams Company Inc., Maris Polymers, Nora Systems Inc., Asian Paints PPG Pvt. Ltd., and RPM Internationals Inc.
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