Liquid Floor Coatings Market to Grow by USD 1.76 Billion (2024-2028) as Urbanization and Infrastructure Growth Accelerate, AI-Driven Market Transformation Report - Technavio | | news-journal.com

NEW YORK, Oct. 30, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global liquid floor coatings market size is estimated to grow by USD 1.76 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.7% during the forecast period. Rapid urbanization and infrastructure growth is driving market growth, with a trend towards strong demand for moisture-resistant liquid floor coatings. However, stricter government regulations related to liquid floor coatings poses a challenge. Key market players include Akzo Nobel NV, Ardex Endura India Pvt Ltd., Armorpoxy Inc, Axalta Coating Systems Ltd., BASF SE, Colorado Liquid Floors LLC, Ecoflor, Hempel AS, Jotun AS, Liquid Floors, Liquid Floors USA of Central Florida, Mapei SpA, Milamar Coatings LLC, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, The Sherwin Williams Co., Tnemec Co Inc, and Westcoat Specialty Coating Systems.

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Liquid Floor Coatings Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.7%

Market growth 2024-2028

USD 1758.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.2

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 47%

Key countries

US, China, Germany, UK, and France

Key companies profiled

Akzo Nobel NV, Ardex Endura India Pvt Ltd., Armorpoxy Inc, Axalta Coating Systems Ltd., BASF SE, Colorado Liquid Floors LLC, Ecoflor, Hempel AS, Jotun AS, Liquid Floors, Liquid Floors USA of Central Florida, Mapei SpA, Milamar Coatings LLC, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., Sika AG, The Sherwin Williams Co., Tnemec Co Inc, and Westcoat Specialty Coating Systems

Market Driver

The liquid floor coatings market is witnessing a notable increase in demand for moisture-resistant solutions due to their protective capabilities against moisture-related damage. These coatings prevent issues such as warping, delamination, and microbial growth, preserving the structural integrity of floors and minimizing costly repairs and operational downtime. Moisture-resistant coatings are especially beneficial in environments with high humidity levels or frequent water exposure, like cold storage facilities and beverage production plants, where they inhibit the growth of mold, mildew, and fungi, maintaining hygiene and product quality. Epoxy flooring, a popular choice for its chemical, moisture, and abrasion resistance, is widely used in industrial and commercial settings, as well as residential applications. With various colors and finishes available, epoxy flooring offers a seamless, easy-to-clean surface. The market growth is driven by the long-term cost savings and enhanced durability of moisture-resistant coatings, making them a preferred choice for new constructions and renovations. In summary, the demand for moisture-resistant liquid floor coatings is a significant industry trend, providing essential protection against moisture damage and simplifying maintenance for various facilities. This trend is expected to persist as more industries prioritize reliable and durable flooring solutions.

The Liquid Floor Coatings market is thriving, with various types of resins, including Epoxy, Polyurethane, Acrylic, Polyester, Vinyl, gaining popularity. Plastic resins offer durability and chemical resistance, making them ideal for industrial applications. Epoxy Resin and Polyurethane Resin are top choices due to their wear resistance and ability to create smooth, even finishes. Coating Formulations like Urethane and Silicone provide additional benefits such as anti-static, waterproof, and anti-vibration properties. Floor conditions and weather protection are crucial considerations. Coatings can be applied through Spraying, Rolling, Brushing, or Troweling. Finish Types range from Glossy and Matte to Anti-Slip, Textured, and Metallic. Healthcare facilities prefer durable, aesthetically pleasing flooring with good chemical resistance. Construction sites, Houses, Hotels, Offices, and Warehouses all benefit from these coatings for renovation and new flooring projects. Concrete floors are a common application, ensuring weather protection and resistance to wear and tear. Floor Coatings by Sterling Flooring Coatings and others offer a wide range of benefits, transforming ordinary floors into high-performance surfaces.

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Market Challenges

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Segment Overview

This liquid floor coatings market report extensively covers market segmentation by

1.1 Industrial- The residential segment, which includes single-family homes, apartments, condominiums, townhouses, and multifamily units, holds a significant position in the global liquid floor coatings market. This prominence is driven by the increasing demand for durable, aesthetically pleasing, and low-maintenance flooring solutions in residential properties. One of the key factors driving the adoption of liquid floor coatings in this sector is the desire for long-lasting and easy-to-maintain flooring. Homeowners are opting for these coatings to protect their surfaces from wear and tear, stains, and damage. Products such as epoxy, polyurethane, and acrylic liquid floor coatings provide a resilient and protective layer, significantly extending the lifespan of residential floors and reducing the need for frequent replacements or repairs. Moreover, the completion of housing projects has seen a notable increase, particularly in regions such as Maharashtra and India. The Maharashtra Real Estate Regulatory Authority (MahaRERA) reported the highest number of completed housing projects since its inception in 2017, nearly double in 2023 compared to 2022. A total of 3,927 housing projects were completed in 2023, up from 1,749 in 2022, with 50% of these projects located in the Konkan region, including Mumbai. This housing project completions underscores the growing demand for residential construction and consequently, for liquid floor coatings. Furthermore, the need for aesthetically appealing solutions is fueling the demand for liquid floor coatings in the residential sector. Decorative coatings, available in various colors and finishes, offer homeowners the ability to customize their floors to match their interior design preferences. This trend towards personalization and aesthetic enhancement is driving the market for liquid floor coatings in the residential sector. In summary, in housing project completions, particularly in regions with construction activity, and the growing demand for long-lasting and visually appealing flooring options are key factors driving the residential segment and the liquid floor coatings market.

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Research Analysis

Liquid Floor Coatings refer to a type of industrial flooring solution that provides durable, high-performance protection for various surfaces, including concrete. These coatings offer numerous benefits such as waterproofing, anti-static properties, and anti-vibration capabilities, making them ideal for various applications in different sectors. Houses, hotels, offices, and warehouses all benefit from Liquid Floor Coatings due to their ability to withstand wear and tear, protect against weather conditions, and enhance the aesthetic appeal of floors. Floor conditions play a crucial role in the selection of appropriate coating technologies. Self-leveling coatings and epoxy coatings are popular choices for their chemical resistance and wear resistance. High-performance coatings, such as polyurethane and water-based coatings, offer low VOC emissions, making them eco-friendly and sustainable. Coating formulations also play a significant role in the performance of Liquid Floor Coatings. Anti-slip coatings ensure safety, while antimicrobial coatings provide hygienic benefits. Coating applications can be found in construction activities, industrial settings, and various sectors, including hospitality and commercial spaces. Liquid Floor Coatings offer a range of benefits, including weather protection, chemical resistance, and wear resistance, making them a versatile and essential component of modern industrial flooring solutions.

Market Research Overview

Liquid Floor Coatings are a popular choice for various sectors due to their durability, resistance, and aesthetic appeal. These coatings offer protection against wear and tear, moisture, and weather conditions for concrete floors in houses, hotels, offices, warehouses, and other structures. The market caters to diverse floor conditions and applications, including anti-static, waterproof, anti-vibration, and anti-skid coatings. Coating technologies include epoxy, polyurethane, polyaspartic, and self-leveling. Construction activities and renovation projects drive the demand for liquid floor coatings. Industrial flooring solutions are in high demand for commercial retail stores, educational institutes, restaurants, medical facilities, and industrial settings due to their high-performance and sustainable properties. Coating applications range from decorative seamless floors to protective coatings for metal, wood, ceramic, and plastic surfaces. Surface preparation is crucial for optimal adhesion and longevity. Raw material prices and green building strategies influence the market dynamics. Coating technologies continue to evolve, offering low VOC emissions, eco-friendly and antimicrobial coatings, and high-gloss finishes. Coating applications include spraying, rolling, brushing, and troweling, with finish types ranging from glossy to textured and metallic. The market caters to static and dynamic loads, providing solutions for healthcare, durable flooring, and aesthetically pleasing options.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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