Global Flooring Market to be Driven by Increase in Construction Activities and Coatings Applications During the Forecast Period 2021-2026

Expert Market Research’s new report titled “Global Flooring market Report and Forecast 2021-2026′, gives an in-depth analysis of the global flooring market, assessing the market based on its segments such as type of binder, coating component, floor structure, end use and the regional market, among others. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026)

  • Historical market size (2020): $2.69 billion
  • Forecast CAGR (2021-2026): 7.1%

The flooring industry is being restructured due to increasing globalization. Due to the rapid economic growth seen in India and China, there has been a change in industrial patterns. With many Asia-Pacific countries remaining predominantly rural, economic growth is expected to encourage continued urbanization. Additionally, expanding population in these countries is expected to increase the demand for housing and commercial infrastructure, which is expected to be a major driver for the flooring market during the forecast period. The flooring market is expected to be fueled by increased investments in the building and construction sector due to the global economic growth and growing population in both developed and developing countries. Increased flooring efficiency, high mechanical strength, high chemical and thermal resistance, and exceptional and superior finishing ability are all contributing to the growth of the market.

Industry definition and major segments

Antistatic, waterproof, anti-vibration and non-slip are some of the sought-after qualities of flooring. They are responsible for extending the life of underlying concrete floors by helping to preserve the concrete surfaces on which they are placed. The extended shelf life of floor coverings, along with the ornamental elements they provide, are expected to drive the expansion of the market throughout the projection period. The expansion of the construction sector, together with the increasing use of coatings in commercial, industrial and residential applications, as well as high investments in building and construction, are likely to be important drivers to advance the flooring market.

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On the basis of binder type, the flooring market is segmented into:

  • Epoxy
  • Thermoplastic
  • Thermosetting
  • Others

On the basis of coating component, the flooring market is segmented into:

  • Monocomponent (1k)
  • Bi-component (2k)
  • Three components (3k)

On the basis of flooring structure, the flooring market is classified into:

  • Drink
  • terrazzo
  • Mortar
  • Others

On the basis of end use, the flooring market is segmented into:

  • Residential
  • Commercial
  • Industrial

Major Regional Markets of Flooring Coatings Market are:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

The global flooring industry is propelled by increasing construction spending worldwide. Due to the increase in the residential sector and the creation of infrastructure, such as indoor playgrounds and sidewalks, the one-component (1k) segment, among other coating components, is growing at a faster rate. . The needs of the industrial segment for flooring are driven by the expansion of the food and chemical processing sectors, as well as increasing industrialization and the rise of manufacturing industries. Due to the widespread use in industrial and commercial applications, epoxy is expected to dominate the market throughout the projected period. Due to the growing demand for flooring in the residential, commercial and industrial sectors in the region, Asia-Pacific leads the industry, followed by Europe. Additionally, the growing demand for green buildings in developing countries like India, China, and New Zealand is giving the industry a boost. The availability of replacements like bamboo tiles, carpets and flooring, on the other hand, could stifle the growth of the industry in the coming years.

Main market players

The major market players are BASF SE (ETR: BAS), Akzo Nobel NV (AMS: AKZA), Dow Chemical Company (NYSE: DD), Arkema Group, Maris Polymers, Nora Systems GmbH, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

Content Source: of -2021-2026/

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