The floor care polymers market in Europe is expected to reach US$ 1,271.23 million by 2027 from US$ 836.55 million in 2019 and is expected to grow at a CAGR of 5.5% from 2020 to 2027.
Various benefits of floor care polymers are bolstering the growth of the Europe floor care polymers market. The floor care polymers such as polyethylene, acrylic, acrylonitrile, and biopolymers are used in adhesives, floor finish coatings, film formulations, and strippers, etc. to fix the tiles, marbles, or granite with bed techniques. These adhesives act as a replacement to the traditional thick bed techniques of cement and sand. Additionally, these adhesives are also suitable for fixing dense and concrete surfaces and help saving cost as they reduce the need for replacing old tiles with the new ones. The floor care polymers in floor finish coatings have been reliable and time tested products used for floor protection. Different types of polymers such as polyaspartic, epoxy, concrete epoxy, and urethane are available for the floor finish coatings. They help in healing the concrete cracks and making the floor smoother and stronger. Acrylic floor care polymers are applied to the floor finish coatings for hardening the surfaces used in heavy construction areas. Besides the inherent properties, other benefits such as hardness, gloss, toughness, scuff resistance, detergent resistance, and slip resistance drive the growth of the floor care polymers market.
In terms of product type, the biopolymer segment is expected to grow at the fastest growth rate during the forecast period. Biopolymers are the natural polymers that are produced from the cells of living organisms. They consist of monomeric units, which are bonded covalently to give rise to larger molecules. Biopolymers find their application in resin flooring that is available in infinite colours. The resin flooring ensures the safety of homes, buildings, and the environment. Biopolymers add natural elasticity for resin flooring, which makes it easier to clean and maintain compared to concrete flooring. It makes the floor harder and durable. The floor screeds made using biopolymers are usually placed on concrete or wooden panels of floors to establish a firm base for laying floor parquet or carpets in homes and buildings. Succinoglycan is another type of biopolymer used in floor screeds that are easy to install. Biopolymers can be renewed and reduce the level of carbon dioxide in the atmosphere. It is a highly preferred polymer for floor covering due to its eco-friendly nature.
COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In Europe, Italy and Russia are the worst-affected countries due to the outbreak of COVID-19. As Italy recorded the highest number of COVID-19 cases, it is anticipated to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to negatively impact the market growth in Europe.
The overall Europe floor care polymers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe floor care polymers market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe floor care polymers market. Arkema Group; Buckeye International, Inc.; Cargill, Incorporated; Mitsui Chemicals, Inc.; OMNOVA Solutions Inc.; Stahl Holdings B.V.; The Dow Chemical Company; Zschimmer & Schwarz, Inc. are among a few players operating in the Europe floor care polymers market.