Floor Coatings Market Analysis: Industry Size, Growth Trends, And Demand Forecast To 2030

(MENAFN- EIN Presswire) EINPresswire/ -- According to a newly released report by Allied Market Research titled“Floor Coatings Market by Floor Structure, End User, Binder Type, and Coating Component: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global floor coatings market generated $3.1 billion in 2020 and is projected to reach $5.5 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.

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Key Market Drivers:-

The market is witnessing strong growth fueled by:

- Rising demand from commercial, residential, and industrial sectors
- Growing preference for interior enhancement and decorative flooring solutions

However, certain challenges such as the slippery nature of some floor coatings may limit adoption. Meanwhile, intensifying competition and strategic pricing initiatives are expected to create new market opportunities.

Segmental Highlights:-

Double Component Coatings Lead the Market:

- The double component segment accounted for over two-thirds of the market in 2020 and is expected to maintain dominance with the highest CAGR of 6.1%. This is primarily due to increasing demand for high-performance, anti-corrosion coating solutions across industries.

Commercial Segment Exhibits Strong Growth Potential:

- The commercial sector is expected to witness the fastest CAGR of 6.1% through 2030, driven by rapid urbanization and expanding infrastructure, particularly in Asia-Pacific.
- The residential segment held the largest market share in 2020, supported by rising adoption of durable and long-lasting floor coating solutions.

Asia-Pacific Leads Global Market Growth:

Asia-Pacific emerged as the largest regional market in 2020, capturing over one-third of the global share. The region is also projected to grow at the highest CAGR of 7.3%, propelled by:

- Expanding population and middle-class income
- Accelerated urban development
-Surge in construction and renovation activities
- North America is expected to grow at a steady CAGR of 4.5% during the forecast period.

Key Market Players:

- The Sherwin-Williams Company
- BASF SE
- ArmorPoxy
- Akzo Nobel N.V.
- Axalta Coating Systems, Ltd.
- RPM International Inc.
- PPG Industries, Inc.
- Sika AG
- 3M
- The Lubrizol Corporation

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Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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