Market Overview:
North America Floor Coatings Market Size Was Valued at USD 613.29 Billion in 2022, and is Projected to Reach USD 1035.76 Billion by 2030, Growing at a CAGR of 6.77 % From 2023-2030.
Floor coatings are tough, protective layers that are used in places where corrosion or heavy surface wear is expected. The end-use regions incorporate private, business, and modern applications. Pharmaceutical manufacturing, research and laboratory facilities, hospitals and medical offices, food manufacturing and bottling facilities, restaurants and breweries, and warehousing and distribution facilities are some of the primary applications for industrial and commercial floor coatings. The features of floor coatings differ. Sealants and sealers are found in a lot of products. Other things to think about are appearance, installation time, the total cost of the project, and the expected lifespan.
Top Key Players Covered In The North America Floor Coatings Market:
- 3M (US)
- AKZO NOBEL N.V. (Netherlands)
- PPG INDUSTRIES INC. (US)
- THE SHERWIN-WILLIAMS COMPANY (US)
- MBCC GROUP (Germany)
- DOW (US)
- FLOROCK (US)
- ASIAN PAINTS PPG PVT. LIMITED (India)
- AXALTA COATING SYSTEMS LTD (US)
- DSM (Netherlands), and Other Major Players.
Market Dynamics and Factors:
For a long time, concrete has been used as a flooring material in utility rooms, garages, patios, and basements. Concrete floors, on the other hand, are versatile materials that can be adapted to almost any design or budget because, like other flooring materials, the methods for installing and decorating them have improved over time. Concrete combines endless customization options with durability for high-traffic, heavy-use areas. It is an excellent option for offices, churches, schools, medical facilities, retail stores, restaurants and bars, industrial buildings, and restaurants and bars. The demand for concrete floors and the expansion of the North American floor coatings market as a whole are being driven by the fact that concrete floors are a great alternative to linoleum, carpet, wood, tile, stone, or marble flooring.
Several governments and end users are increasingly utilizing environmentally friendly floor coatings in response to rising environmental concerns. Due to the growing emphasis on health, safety, and environmental regulations in floor coating application areas, end users are more likely to choose eco-friendly floor coatings. As a result, manufacturers have switched to solvent-free floor coatings and reduced the use of volatile organic compounds (VOCs) in response to consumer demand for environmentally friendly products. As a result, the North American floor coatings market is expected to gain more traction as end users' preferences for eco-friendly floor coatings shift.
North America Floor Coatings Market Report Highlight:
- By Technology, the Water-borne segment is anticipated to lead the growth of the North America Floor Coatings market in the forecasted timeframe. Water-based floor coatings necessitate a clean environment and surface. Throughout the process, the applicators must be more precise, accurate, and clean to guarantee good results. Water-borne floor coatings typically have a lower solid content than solvent-borne versions.
- By Product Type, the Epoxy segment is expected to have the highest share of the North America Floor Coatings market over the projected period. Due to their lower initial installation costs, epoxy binders have become increasingly common in synthetic terrazzo floors. Carpets, vinyl sheets, and basic tiling are examples of application surfaces that fall into the other category.
- By Component, the Water-borne segment is projected to lead the growth of the North America Floor Coatings market in the forecasted timeframe. The double-component coating is applied to describe a coating that needs to be mixed with an activator, hardener, or catalyst. Once it hardens, it produces high resistance to chemicals, weather, or UV rays.
- By Application, the Concrete segment is expected to have the highest share of the North America Floor Coatings market over the projected period. Concrete floors, on the other hand, are versatile materials that can be adapted to almost any design or budget because, like other flooring materials, the methods for installing and decorating them have improved over time.
- By end-users, the residential segment is set to develop at the highest growth during the forecasted timeframe. Because floor coatings are long-lasting and durable. The floor coatings are frequently used in garages, laundry rooms, pool areas, and other locations to provide flooring that is extremely durable, simple to clean, and possibly resistant to slippage.
Key Industry Development:
In October 2023, Tremco: Announced "Illusions™ Decorative Concrete Coatings," a collection of pre-blended, metallic epoxy coatings creating stunning visual effects on concrete floors, catering to the rising demand for personalized and artistic floor designs.
In April 2023, Benjamin Moore: Launched "Aura Floor Enamel," a premium water-based floor paint boasting exceptional durability and chip resistance, appealing to eco-conscious consumers seeking high-performance, low-VOC options.
North America Floor Coatings Market Segmentation:
By Technology
- Water-Borne
- Solvent-Borne
- Others
By Product Type
- Epoxy
- Polyurethane
- Acrylic
- Polyaspartic
- Others
By Component
- One-Component
- Two-Component
- Three-Component
- Others
By Application
- Concrete
- Wood
- Terrazzo
- Others
By End Users
- Residential
- Commercial
- Industrial
For this report, Introspective Market Research has segmented the North America Floor Coatings Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
