Asia Pacific Floor Coating Market
Floor coatings are surface coatings applied on concrete surfaces to enhance its wear and abrasion resistance and prolong life. They are inert to oils, detergents and cleaners, transmission fluids, water, hail, snow, and corrosive chemicals. Floor coatings impart waterproof, anti-static, anti-vibration, and anti-skid properties to concrete floors and hence are favored in many industrial, as well as construction industries.
In 2018, China dominated the Asia Pacific floor coating market, followed by India. China’s population growth trajectory is exponential, and the same is expected to reach 250 Mn in next couple of years. With an aim to accommodate the constantly rising population, China invest heavily in its infrastructural projects comprising of residential and commercial. The Chinese government consistently emphasizes on it infrastructure and has undertaken various initiative to support the development. For instance, recently China has initiated several urban infrastructures including multi-residential properties, hotels, and hospitals among others. However, the individual debts among the Chinese population is rising rapidly, which is restraining the mass to invest in newer infrastructures. Pertaining to this fact, Chinese Government has dusted off the interest rates, with an aim to increase the investments to furnish the residential infrastructures further. Increasing number of residential projects is helping the floor coating manufacturers to sell their products in large quantity thereby catalyzing the market growth. Increasing residential projects and manufacturing of buildings are the two key drivers of floor coatings market in China in the recent years.
Strategic insights for the Asia Pacific Floor Coating provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 905.6 Million |
| Market Size by 2027 | US$ 1,675.0 Million |
| Global CAGR (2019 - 2027) | 7.1% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Floor Coating refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
In numerous industrial settings, such as warehouses, airplane hangars, assembly plants, paint shops, body shops, and distribution facilities, concrete floors are subject to wear and tear from exposure to harsh as well as corrosive chemicals and oils, and damage by scratches and abrasions caused by heavy machines and equipment such as airplanes and forklifts. Floor coatings impart durability and strength to the normal concrete floors. They provide protection to the concrete floors from abrasions and wear from the constant movement of automated guided vehicles, sliding carts, forklifts, etc. Moreover, the slip resistance provided by these coatings to floors help minimize the accidents on work floors. The rising importance of ensuring workplace safety and worker welfare has led to high consumption of floor coatings in industrial applications. The deployment of floor coatings in industrial applications to increase the productivity by allowing faster material movement and lowering the risks of accidents at workplaces is expected to fuel the demand for industrial-grade floor coatings during the forecast period.
Based on type, the Asia Pacific floor coating market is bifurcated as epoxy, polyurethane, acrylics, polymethyl methacrylate, and others. In 2018, the Asia Pacific floor coating market was dominated by the epoxy segment. Epoxy floor coating offer many advantages as compared to other traditional coating applied over concrete. The epoxy floor coating is known to create a shiny high-gloss surface that significantly increases the brightness of the interior area. It offers a hard-wearing, durable surface that is able to withstand heavy and continuous traffic. It is quick and easy to install, requires no layout, cutting additional adhesives, or special tools. This floor coating is durable and easy to clean and serves to be ideal for industrial and warehouses applications. The epoxy floor coating is known to resists oil stains and water and also creates a seamless surface that is known to last many years. The epoxy coating can be combined with colors and paints to mask off chips and cracks. The epoxy coating is known to provide a chemically resistant surface that is ideal for manufacturing plants. It is known to offer enhanced safety when the surface contains anti-slip additives. The coating can be applied in various patterns for creating visible driveways or to identify walkable areas.
The Asia Pacific floor coating market is bifurcated based on formulation into solvent-based and water-based. The water-based floor coating dominated the Asia Pacific floor coatings market in 2018. The low VOC content of the water-based formulation has been a major contributing factor responsible for the development and expansion of the floor coating market all over Asia Pacific. Solvent-based floor coatings have various advantages over water-based epoxy systems, typically included that it has greater durability and performance. The solvent-based formulations are more tolerant of petroleum contaminates on a concrete surface that makes it ideal for garages and parking structures and also gives a glossier finish. These benefits were ultimately overshadowed by the fact that government regulations stated for products containing volatile organic compounds (VOCs) and other pollutants have been progressively tighter over the years. With industry and individual consumers seeking more environmentally friendly alternatives, high VOC solvent-based formulation systems are no longer the norm.
The Asia Pacific floor coating market is bifurcated based on coating component into 1k, 2k, and 3k. In 2018, the 1k coating component segment accounted for a substantial share in the Asia Pacific floor coating market. 1k coating components are floor coatings that don’t require a hardener, catalyst, or activator for their application. All lacquer, enamel, and acrylic enamel floor coatings can be included under 1k coatings. Single components or 1k floor coatings are easy to apply as they don’t require to be measured and mixed with other coating ingredients. As 1k floor coatings does not require an activator to cure it usually requires less drying time, however the final coating is not as hard wearing and resilient. Single component penetrating synthetic acrylic coating have excellent adhesion to concrete surfaces and when dried or cured, form a semi-gloss flexible film. The 1k coatings are easy to apply. They can be applied by simple roller, or brush application. Ease of application, rapid curing, and good mechanical properties, has makes 1k components ideal for parquet coatings. 1k coating systems are environment friendly and can be formulated with low levels of VOC. The ease of application, better mechanical properties, and low curing time has led to significant demand for 1k floor coatings market in Asia Pacific during 2019–2027.
The Asia Pacific floor coating market is bifurcated based on flooring material as wood, concrete, mortar, terrazzo, and others. The concrete segment dominated the Asia Pacific floor coating market in 2018. The concrete flooring material is not only durable, reliable, and incredibly long-lasting, but also developed a reputation for being austere, utilitarian, and course underfoot. However, modern advancements have given the flooring professionals a variety of design options that are allowing them to reinvent this primary building material entirely. Today concrete floors have the option to be polished smooth or even be textured to provide traction.
The Asia Pacific floor coating market is bifurcated based on application as commercial, residential, and industrial buildings. The industrial segment dominated the Asia Pacific floor coatings market in 2018. Bare concrete at a manufacturing facility is prone to cause problems. Unprotected concrete eventually starts to crack and crumble due to the constant movement of heavy machinery. Concrete repair costs get expensive quickly, which is why many of the industrial facilities have turned to floor coatings to protect the floors. Thus the rising costs of the floor maintenance have led to an upsurge in the floor coating market all over Asia Pacific and have proven to be a contributing factor for the increasing demand of the floor coatings across Asia Pacific.
Strategic insights for the Asia Pacific Floor Coating provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 905.6 Million |
| Market Size by 2027 | US$ 1,675.0 Million |
| Global CAGR (2019 - 2027) | 7.1% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Floor Coating refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in Asia Pacific floor coating market. Few of the recent developments in the Asia Pacific floor coating market are listed below:
The List of Companies - Asia Pacific Floor Coating Market
The Asia Pacific Floor Coating Market is valued at US$ 905.6 Million in 2018, it is projected to reach US$ 1,675.0 Million by 2027.
As per our report Asia Pacific Floor Coating Market, the market size is valued at US$ 905.6 Million in 2018, projecting it to reach US$ 1,675.0 Million by 2027. This translates to a CAGR of approximately 7.1% during the forecast period.
The Asia Pacific Floor Coating Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Floor Coating Market report:
The Asia Pacific Floor Coating Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Floor Coating Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Floor Coating Market value chain can benefit from the information contained in a comprehensive market report.
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