India Floor Coatings Market, by Binder Type (Epoxy, Thermoplastic, Thermoset, and Others), by Coating Component (One Component (1K), Two Component (2K), and Three Component (3K)), by Floor Structure (Wood, Terrazzo, Mortar, and Others), End User (Residential, Commercial, and Industrial), and by Region (North India, East India, West India, South India): Opportunity Analysis and Industry Forecast, 2018 - 2025 Update Available On-Demand
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A04813
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Pages: 160
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Feb
2019 |
2680 Views
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Author(s) :
Abhijith Yenduri & Onkar Sumant
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Tables: 78
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Charts: 28
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Formats*:
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The India floor coatings market accounted for $56,000.0 in 2017 and is anticipated to reach $91,129.8 by 2025, registering a CAGR of 6.0% from 2018 to 2025.
Floor coatings are used in slip resistance applications. They are anti-static, anti-vibration, and waterproof and provide attractive finish to floor and bare concrete. These coatings also offer different options related to styles and colors, thus increasing their adoption in houses, hotels, offices and warehouses. Use of floor coatings helps in the reduction of cracking of concrete and maintenance cost. Use of floor coatings help clean the floors easily and make manufacturing units, factories, and offices attractive delivering lustrous appearance on the floor. They are used across educational institutes, restaurants, aviation & transportation, medical & healthcare facilities, and commercial retail stores.
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The Indian floor coatings market is driven by increase in demand from end users such as commercial, industrial, and residential. This market majorly consists of epoxy and polyurethane-based products and gain popularity in the Indian market as they exhibit abrasion, slippage, spillage, heat, and chemical resistance. The surface on which epoxy floor coatings is applied remains seamless, antistatic, and is easy to maintain. Growth in competition from substitutes is anticipated to hinder the growth of the floor coating market. The Asia-Pacific market experiences growth due to favorable government initiatives such as housing projects that boosts the development in construction industry which correspondingly increases the demand for floor coatings in the market.
The India floor coatings market is segmented based on binder type, coating component, floor structure, end use, and region. Based on binder type, the market is divided into epoxy, thermoplastic, thermoset, and others. Based on coating type, the market is classified into one component (1k), two component (2k), and three component (3k). Based on floor structure, the market is categorized into wood, terrazzo, mortar, others. Based on end use, the market is fragmented into residential, commercial, and industrial. Based on region, the market is analyzed across North India, East India, West India and South India.
The major key players operating in the India floor coatings market include Akzo Nobel N.V., Akema S.A., Asian Paints Ltd., Berger Paints India Limited, and DowDuPont, Flowcrete India Pvt. Ltd., Indigo Paints, Kansai Nerolac Paints Limited, Sika Industries Ltd., 3M. Other players operating in the floor coating market include the Sherwin-Williams company, PPG Industries, Conpro Chemicals, Carbolink India Pvt. Ltd.
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India Floor Coatings market share, by region
Based on region, North India accounts for major share in the India floor coatings market. Favorable governmental initiatives such as Make in India and rise in investment in infrastructural development increase the importance of floor coatings. In addition, economic development drives urbanization and industrialization, which has positive impact on the floor coatings market. Growth in commercial activities, such as construction of new hotels and restaurants provide significant growth opportunities for the floor coating market in India.
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India Floor Coatings market, by Binder Type
Based on binder, the epoxy segment dominated the market in 2017, owing to physical properties such as resistant to water, saline, organics, acids, temperature, and mechanical damages, which make them a preferred material for floor coatings.
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India Floor Coatings market, by Coating Component
Based on coating component, the two component (2K) segment dominated the market in 2017, owing to unique mechanical properties, superior weather resistance, high chemical resistance, and enables rapid curing. It can withstand high temperatures when cured and thus can be applied at nearly any temperature. This in turn increases the adoption of two component coating in residential, commercial, and industrial applications.
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India Floor Coatings market, by floor structure
Based on floor structure, the mortar segment dominated the market in 2017, owing to its low cost and high strength. This in turn increased the adoption of mortar floor structure for outdoor walls.
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India Floor Coatings market, by End Use
Based on end use, the residential segment dominated the market in 2017, owing to construction of new residential spaces. This in turn increased the adoption of floor coatings for residential construction.
Key Benefits for India Floor Coatings Market:
- The report provides an in depth analysis of the India floor coatings market with current and future trends
- The major states in each region have been mapped according to their individual revenue contribution to the regional market.
- Porters five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future scenario of the market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the India floor coatings report.
India Floor Coatings Key Market Segments:
By Binder Type
- Epoxy
- Thermoplastic
- Thermoset
- Others
By Coating Type
- One component (1k)
- Two component (2k)
- Three component (3k)
By Floor Structure
- Wood
- Terrazzo
- Mortar
- Others
By End Use
- Residential
- Commercial
- Industrial
By Region
- North India
- East India
- West India
- South India
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Rise in consumer awareness regarding the benefits of floor coatings
3.4.1.2. Increase in investments across end user industries
3.4.2. Restraint
3.4.2.1. Stringent governmental regulation regarding volatile organic compound
3.4.3. Opportunity
3.4.3.1. Bio-based floor coatings
3.5. Top player positioning, 2017
CHAPTER 4: INDIA FLOOR COATING MARKET BY BINDER TYPE
4.1. Overview
4.1.1. Market size and forecast, by binder type
4.2. Epoxy
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.3. Thermoplastic
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.4. Thermoset
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.5. Others
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
CHAPTER 5: INDIA FLOOR COATINGS MARKET, BY COATING COMPONENT
5.1. Overview
5.1.1. Market size and forecast, by coating component
5.2. One-component (1k)
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.3. Two-component (2k)
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.4. Three-component (3k)
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
CHAPTER 6: INDIA FLOOR COATINGS MARKET, BY FLOOR STRUCTURE
6.1. Overview
6.1.1. Market size and forecast, by Floor Structure
6.2. Wood
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.3. Terrazzo
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.4. Mortar
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.5. Others
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
CHAPTER 7: INDIA FLOOR COATING MARKET, BY END USE
7.1. Overview
7.2. Market size and forecast, by end use
7.3. Residential
7.3.1. Overview
7.3.2. Key market trends, growth factors, and opportunities
7.3.3. Market size and forecast, by residential use
7.3.4. Market size and forecast, by region
7.3.5. Indoor
7.3.5.1. Overview
7.3.6. Outdoor
7.3.6.1. Overview
7.4. Commercial
7.4.1. Overview
7.4.2. Key market trends, growth factors, and opportunities
7.4.3. Market size and forecast, by commercial use
7.4.4. Market size and forecast, by region
7.4.5. Garage
7.4.5.1. Overview
7.4.6. Warehouses
7.4.6.1. Overview
7.4.7. Retail Outlets
7.4.7.1. Overview
7.4.8. Others
7.4.8.1. Overview
7.5. Industrial
7.5.1. Overview
7.5.2. Key market trends, growth factors, and opportunities
7.5.3. Market size and forecast, by industrial use
7.5.4. Market size and forecast, by region
7.5.5. Food & Beverages
7.5.5.1. Overview
7.5.6. Chemical
7.5.6.1. Overview
7.5.7. IT & Software Industry
7.5.7.1. Overview
7.5.8. Others
7.5.8.1. Overview
CHAPTER 8: INDIA FLOOR COATINGS MARKET, BY REGION
8.1. Overview
8.1.1. Market size and forecast
8.2. North India
8.2.1. Key market trends, growth factors, and opportunities
8.2.2. Market size and forecast, by binder type
8.2.3. Market size and forecast, by coating component
8.2.4. Market size and forecast, by flooring structure
8.2.5. Market size and forecast, by end use
8.2.5.1. Market size and forecast, by residential use
8.2.5.2. Market size and forecast, by commercial use
8.2.5.3. Market size and forecast, by industrial use
8.3. East India
8.3.1. Key market trends, growth factors, and opportunities
8.3.2. Market size and forecast, by binder type
8.3.3. Market size and forecast, by coating component
8.3.4. Market size and forecast, by flooring structure
8.3.5. Market size and forecast, by end use
8.3.5.1. Market size and forecast, by residential use
8.3.5.2. Market size and forecast, by commercial use
8.3.5.3. Market size and forecast, by industrial use
8.4. West India
8.4.1. Key market trends, growth factors, and opportunities
8.4.2. Market size and forecast, by binder type
8.4.3. Market size and forecast, by coating component
8.4.4. Market size and forecast, by flooring structure
8.4.5. Market size and forecast, by end use
8.4.5.1. Market size and forecast, by residential use
8.4.5.2. Market size and forecast, by commercial use
8.4.5.3. Market size and forecast, by industrial use
8.5. South India
8.5.1. Key market trends, growth factors, and opportunities
8.5.2. Market size and forecast, by binder type
8.5.3. Market size and forecast, by coating component
8.5.4. Market size and forecast, by flooring structure
8.5.5. Market size and forecast, by end use
8.5.5.1. Market size and forecast, by residential use
8.5.5.2. Market size and forecast, by commercial use
8.5.5.3. Market size and forecast, by industrial use
CHAPTER 9: COMPONY PROFILES
9.1. AKZO NOBEL N.V.
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Operating business segments
9.1.4. Product portfolio
9.1.5. Business performance
9.2. ARKEMA S.A.
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Operating business segments
9.2.4. Product portfolio
9.2.5. Business performance
9.3. ASIAN PAINTS LTD.
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Operating business segments
9.3.4. Product portfolio
9.3.5. Business performance
9.3.6. Key strategic moves and developments
9.4. BERGER PAINTS INDIA LIMITED
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Operating business segments
9.4.4. Product portfolio
9.4.5. Business performance
9.5. DOWDUPONT
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Operating business segments
9.5.4. Product portfolio
9.5.5. Business performance
9.6. FLOWCRETE INDIA PVT. LTD.
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Product portfolio
9.7. INDIGO PAINTS
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Product portfolio
9.8. KANSAI NEROLAC PAINTS LIMITED
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Operating business segments
9.8.4. Product portfolio
9.8.5. Business performance
9.8.6. Key strategic moves and developments
9.9. SIKA INDUSTRIES LTD.
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Operating business segments
9.9.4. Product portfolio
9.9.5. Business performance
9.10. 3M
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Operating business segments
9.10.4. Product portfolio
9.10.5. Business performance
LIST OF TABLES
TABLE 01. INDIA FLOOR COATING MARKET, BY BINDER TYPE, 2017-2025, ($THOUSAND)
TABLE 02. INDIA EPOXY FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 03. INDIA THERMOPLASTIC FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 04. INDIA THERMOSET FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 05. INDIA OTHER FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 06. INDIA FLOOR COATING MARKET, BY COATING COMPONENT, 2017-2025, ($THOUSAND)
TABLE 07. INDIA 1-K FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 08. INDIA 2-K FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 09. INDIA 3-K FLOOR COATING MARKET, BY REGION, 2017-2025, ($THOUSAND)
TABLE 10. INDIA FLOOR COATING MARKET, BY COATING COMPONENT, 2017-2025, ($THOUSAND)
TABLE 11. INDIA FLOOR COATINGS MARKET FOR WOODEN FLOORING, BY REGION, 2017-2025, ($THOUSAND)
TABLE 12. INDIA FLOOR COATINGS MARKET FOR TERRAZZO FLOORING, BY REGION, 2017-2025, ($THOUSAND)
TABLE 13. INDIA FLOOR COATINGS MARKET FOR MORTAR FLOORING, BY REGION, 2017-2025, ($THOUSAND)
TABLE 14. INDIA FLOOR COATINGS MARKET FOR OTHER FLOORING TYPES, BY REGION, 2017-2025, ($THOUSAND)
TABLE 15. INDIA FLOOR COATING MARKET, BY END USE, 2017-2025 ($THOUSAND)
TABLE 16. INDIA FLOOR COATING MARKET, BY RESIDENTIAL USE, 2017-2025, ($THOUSAND)
TABLE 17. INDIA FLOOR COATING MARKET FOR RESIDENTIAL, BY REGION, 2017-2025, ($THOUSAND)
TABLE 18. INDIA FLOOR COATING MARKET, BY COMMERCIAL USE, 2017-2025, ($THOUSAND)
TABLE 19. INDIA FLOOR COATING MARKET FOR COMMERCIAL, BY REGION, 2017-2025, ($THOUSAND)
TABLE 20. INDIA FLOOR COATING MARKET, BY INDUSTRIAL USE, 2017-2025, ($THOUSAND)
TABLE 21. INDIA FLOOR COATING MARKET FOR INDUSTRIAL, BY REGION, 2017-2025, ($THOUSAND)
TABLE 22. INDIA FLOOR COATINGS MARKET, BY REGION, 2017-2025 ($THOUSAND)
TABLE 23. NORTH INDIA FLOOR COATINGS MARKET, BY BINDER TYPE, 2017-2025 ($THOUSAND)
TABLE 24. NORTH INDIA FLOOR COATING MARKET, BY COATING COMPONENT, 2017-2025, ($THOUSAND)
TABLE 25. NORTH INDIA FLOOR COATING MARKET, BY FLOORING STRUCTURE, 2017-2025, ($THOUSAND)
TABLE 26. NORTH INDIA FLOOR COATINGS MARKET, BY END USE, 2017-2025 ($THOUSAND)
TABLE 27. NORTH INDIA FLOOR COATING MARKET, BY RESIDENTIAL USE, 2017-2025, ($THOUSAND)
TABLE 28. NORTH INDIA FLOOR COATING MARKET, BY COMMERCIAL USE, 2017-2025, ($THOUSAND)
TABLE 29. NORTH INDIA FLOOR COATING MARKET, BY INDUSTRIAL USE, 2017-2025, ($THOUSAND)
TABLE 30. EAST INDIA FLOOR COATINGS MARKET, BY BINDER TYPE, 2017-2025 ($THOUSAND)
TABLE 31. EAST INDIA FLOOR COATING MARKET, BY COATING COMPONENT, 2017-2025, ($THOUSAND)
TABLE 32. EAST INDIA FLOOR COATING MARKET, BY FLOORING STRUCTURE, 2017-2025, ($THOUSAND)
TABLE 33. EAST INDIA FLOOR COATINGS MARKET, BY END USE, 2017-2025 ($THOUSAND)
TABLE 34. EAST INDIA FLOOR COATING MARKET, BY RESIDENTIAL USE, 2017-2025, ($THOUSAND)
TABLE 35. EAST INDIA FLOOR COATING MARKET, BY COMMERCIAL USE, 2017-2025, ($THOUSAND)
TABLE 36. EAST INDIA FLOOR COATING MARKET, BY INDUSTRIAL USE, 2017-2025, ($THOUSAND)
TABLE 37. WEST INDIA FLOOR COATINGS MARKET, BY BINDERTYPE, 2017-2025($THOUSAND)
TABLE 38. WEST INDIA FLOOR COATING MARKET, BY COATING COMPONENT, 2017-2025, ($THOUSAND)
TABLE 39. WEST INDIA FLOOR COATING MARKET, BY FLOORING STRUCTURE, 2017-2025, ($THOUSAND)
TABLE 40. WEST INDIA FLOOR COATINGS MARKET, BY END USE, 2017-2025 ($THOUSAND)
TABLE 41. WEST INDIA FLOOR COATING MARKET, BY RESIDENTIAL USE, 2017-2025, ($THOUSAND)
TABLE 42. WEST INDIA FLOOR COATING MARKET, BY COMMERCIAL USE, 2017-2025, ($THOUSAND)
TABLE 43. WEST INDIA FLOOR COATING MARKET, BY INDUSTRIAL USE, 2017-2025, ($THOUSAND)
TABLE 44. SOUTH INDIA FLOOR COATINGS MARKET, BY BINDER TYPE, 2017-2025 ($THOUSAND)
TABLE 45. SOUTH INDIA FLOOR COATING MARKET, BY COATING COMPONENT, 2017-2025, ($THOUSAND)
TABLE 46. SOUTH INDIA FLOOR COATING MARKET, BY FLOORING STRUCTURE, 2017-2025, ($THOUSAND)
TABLE 47. SOUTH INDIA FLOOR COATINGS MARKET, BY END USE, 2017-2025 ($THOUSAND)
TABLE 48. SOUTH INDIA FLOOR COATING MARKET, BY RESIDENTIAL USE, 2017-2025, ($THOUSAND)
TABLE 49. SOUTH INDIA FLOOR COATING MARKET, BY COMMERCIAL USE, 2017-2025, ($THOUSAND)
TABLE 50. SOUTH INDIA FLOOR COATING MARKET, BY INDUSTRIAL USE, 2017-2025, ($THOUSAND)
TABLE 51. AKZO NOBEL N.V. (AKZO): COMPANY SNAPSHOT
TABLE 52. AKZO NOBEL N.V. (AKZO): OPERATING SEGMENTS
TABLE 53. AKZO NOBEL N.V. (AKZO): PRODUCT PORTFOLIO
TABLE 54. ARKEMA S.A.: COMPANY SNAPSHOT
TABLE 55. ARKEMA S.A.: OPERATING SEGMENTS
TABLE 56. ARKEMA S.A.: PRODUCT PORTFOLIO
TABLE 57. ASIAN PAINTS: COMPANY SNAPSHOT
TABLE 58. ASIAN PAINTS: OPERATING SEGMENTS
TABLE 59. ASIAN PAINTS: PRODUCT PORTFOLIO
TABLE 60. BERGER PAINTS: COMPANY SNAPSHOT
TABLE 61. BERGER PAINTS: OPERATING SEGMENTS
TABLE 62. BERGER PAINTS: PRODUCT PORTFOLIO
TABLE 63. DOWDUPONT: COMPANY SNAPSHOT
TABLE 64. DOWDUPONT: OPERATING SEGMENTS
TABLE 65. DOWDUPONT: PRODUCT PORTFOLIO
TABLE 66. FLOWCRETE GROUP: COMPANY SNAPSHOT
TABLE 67. FLOWCRETE GROUP: PRODUCT PORTFOLIO
TABLE 68. INDIGO PAINTS: COMPANY SNAPSHOT
TABLE 69. INDIGO PAINTS: PRODUCT PORTFOLIO
TABLE 70. KANSAI NEROLAC PAINTS: COMPANY SNAPSHOT
TABLE 71. KANSAI NEROLAC PAINTS: OPERATING SEGMENTS
TABLE 72. KANSAI NEROLAC PAINTS: PRODUCT PORTFOLIO
TABLE 73. SIKA AG: COMPANY SNAPSHOT
TABLE 74. SIKA AG: OPERATING SEGMENTS
TABLE 75. SIKA AG: PRODUCT PORTFOLIO
TABLE 76. 3M: COMPANY SNAPSHOT
TABLE 77. 3M: OPERATING SEGMENTS
TABLE 78. 3M: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 01. INDIA FLOOR COATINGS MARKET SEGMENTATION
FIGURE 02. TOP INVESTMENT POCKETS, BY END USE
FIGURE 03. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 04. HIGH BARGAINING POWER OF BUYERS
FIGURE 05. HIGH THREAT OF NEW ENTRANTS
FIGURE 06. MODERATE THREAT OF SUBSTITUTES
FIGURE 07. MODERATE INTENSITY OF COMPETITIVE RIVALRY
FIGURE 08. INDIA FLOOR COATINGS: IMPACT ANALYSES
FIGURE 09. TOP PLAYER POSITIONING, 2017
FIGURE 10. AKZO NOBEL N.V. (AKZO): REVENUE, 2015–2017 ($MILLION)
FIGURE 11. AKZO NOBEL N.V. (AKZO): REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 12. AKZO NOBEL N.V. (AKZO): REVENUE SHARE BY REGION, 2017 (%)
FIGURE 13. ARKEMA S.A.: REVENUE, 2015–2017 ($MILLION)
FIGURE 14. ARKEMA S.A.: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 15. ARKEMA S.A.: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 16. ASIAN PAINTS: REVENUE, 2015–2017 ($MILLION)
FIGURE 17. ASIAN PAINTS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 18. ASIAN PAINTS: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 19. BERGER PAINTS: REVENUE, 2015–2017 ($MILLION)
FIGURE 20. DOWDUPONT: REVENUE, 2015–2017 ($MILLION)
FIGURE 21. DOWDUPONT: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 22. DOWDUPONT: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 23. KANSAI NEROLAC PAINTS: REVENUE, 2015–2017 ($MILLION)
FIGURE 24. SIKA AG: REVENUE, 2015–2017 ($MILLION)
FIGURE 25. SIKA AG: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 26. 3M: REVENUE, 2015–2017 ($MILLION)
FIGURE 27. 3M: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 28. 3M: REVENUE SHARE BY REGION, 2017 (%)
According to the CXOs, increase in economic strength of India is propelling rapid urbanization & industrialization, which is expected to drive the growth of the India floor coatings market during the forecast period.
In addition, with an aim to improve the quality of life and attract investments to the city, the government of India has launched several urban development schemes, such as smart cities mission and Pradhan Mantri Awas Yojana- housing for all. These are expected to have a significant impact on the growth of the India floor coatings industry. However, stringent environmental regulations implemented to reduce the volatile organic compounds (VOC) content in floor coatings to minimize environmental hazards is the factor expected to hamper the growth of the floor coatings market.
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