Floor Paints Market Analysis :
Floor is the bottom surface of a building, which supports the expected load. Similar to buildings, floor requires coatings and paintings for aesthetic appearance and protection from external factors. Thus, floor painting serves as an ideal option to add color and visual punch. In addition, floor paints provide protection from dust and make floor cleaning easy, which boost their demand, globally. Floor paints are made of various materials including polyurethane, alkyd (oil), epoxy, or latex based. Various floor types include concrete, hardwood, and tiles. The cost of floor paints varies according to the brand and the cost of production.
COVIND-19 SCENARIO ANALYSIS
- Owing to the outbreak of COVID-19, governments of various counties have enforced lockdown, which has led to the down turn of the economy and has negatively impacted the growth of the construction industry. In addition, laborers are finding it difficult to return to the sites due to lockdown, which has led to daily losses in the construction industry.
- Under restrictions imposed during the lockdown, the transportation of commodities and raw materials has been delayed, which has affected the supply of raw materials, and subsequently has led to increase in prices.
- In India, the construction sector is losing Rs. 30,000 core on a daily basis.
- However, post the pandemic, the application for floor painting is expected to increase, due to increase in demand for renovation of old houses. This, in turn, is anticipated to augment the growth of floor paints market and balance the economy.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Upsurge in construction activities to meet the demands of growing population and increase in industrialization are the key factors that contribute toward the growth of the global floor paints market. However, availability of cheap alternatives acts as a major restraint of this market. On the contrary, rise in investment in infrastructure, surge in urbanization, and rise in demand for antimicrobial paints are anticipated to offer remunerative opportunities for the expansion of the global market.
New product launches to boost the market
As COVID-19 has hit the economy, it is impacting every sector and creating challenges for growth. However, the launch of new products in the floor paints market is offering new avenues for the market. The product Nanova Hygiene+TM is an antimicrobial covering for surfaces such as textures, plastics, metals, and cements that contains mixed drinks of nontransitory QUATs and emphatically charged AgNPs as bioactive nanoparticles. Moreover, Nanova Hygiene+TM antimicrobial covering shows low surface vitality esteem (>20 mN/m)10 and carries on as an omniphobic surface by repulsing water and oil together.
Key benefits of the report
- This study presents the analytical depiction of the global floor paints industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report further present’s information related to key drivers, restraints, and opportunities along with detailed analysis of the global market share.
- The current market is quantitatively analyzed to highlight the global floor paints market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the floor paints market research report:
- Which are the leading market players active in the floor paints market?
- What the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Key Market Segments
- By Type
- Epoxy
- Polyurethane
- Others
- By Application
- Residential
- Commercial
- Industrial
- Others
- By Region
- North America
- Europe
- Germany
- UK
- France
- rest of Europe
- Asia-Pacific
- China
- Japan
- India
- rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- rest of LAMEA
Key Market Players
- Asian Paints PPG Pvt. Ltd. (India)
- The Dow Chemical Company (U.S.)
- RPM International Inc. (U.S.)
- Axalta Coating Systems Ltd. (U.S.)
- The Sherwin-Williams Company (U.S.)
- The Lubrizol Corporation (U.S.)
- BASF SE (Germany)
- AkzoNobel N.V. (The Netherlands)
- PPG Industries, Inc. (U.S.)
- The Daw Group (The Netherlands)
- 3M Company (U.S.)