The Europe floor coating market is accounted to US$ 390.3 Mn in 2018 and is predicted to grow at a CAGR of 6.5% during the forecast period 2019 - 2027, to account for US$ 685.8 Mn by 2027.
Floor coatings are surface coatings applied on concrete surfaces to enhance its wear and abrasion resistance and prolong life. They are inert to oils, detergents and cleaners, transmission fluids, water, hail, snow, and corrosive chemicals. Floor coatings impart waterproof, anti-static, anti-vibration, and anti-skid properties to concrete floors and hence are favored in many industrial, as well as construction industries.
The Europe floor coating market is segmented on the basis of formulation as solvent-based and water-based. The water-based Europe floor coating market is estimated to hold a dominant share in the market. With more limited availability of solvent-based formulations, the water-based formulation coating have seen an upsurge in use. Their lower VOC content has been a huge advantage where restrictions on VOCs are especially stringent. Water-based formulation coatings typically have a very low to zero solvent content and minimal odor and, based on the product, can often be applied to concrete while it is still moist or still in the process of curing. However, water-based formulation technology, while having made significant strides, has not yet been able to mark materials with the level of chemical resistance and durability desired for many industrial and commercial applications. It is, therefore, often used in light to moderate duty environments, where frequent recoating is acceptable.
The Europe floor coating market is segmented based on flooring material as wood, concrete, mortar, terrazzo, and others. In 2018, the concrete segment accounts for the largest share in the Europe floor coating market. Concrete is the most basic flooring material. Usually, it is only the surface of the slab that is poured directly on the gravel or dirt bed to install the foundation of a building. The concrete flooring material is not only durable, reliable, and incredibly long-lasting, but also developed a reputation for being austere, utilitarian, and course underfoot. However, modern advancements have given the flooring professionals a variety of design options that are allowing them to reinvent this primary building material entirely. Today concrete floors have the option to be polished smooth or even be textured to provide traction. These can also be stained or painted with a variety of techniques that allows to replicate the look of natural materials or embed the floor with intricate printed designs.
Increasing demand for floor coatings in industrial applications has led to an upsurge in the sales of floor coating products. Rapid industrialization and establishment of manufacturing and processing plants in the UK, Germany, and France is expected to drive the demand for floor coatings in the pharmaceuticals, food & beverages, and automotive assembly industries. Multinational corporations based in the UK and Germany are expanding their operations in developing countries of APAC such as China and India. The establishment of manufacturing facilities by major foreign companies has generated a considerable demand for construction materials such as floor coatings.
Europe floor coating market is segmented on the country as Germany, France, Italy, United Kingdom, Russia, and rest of Europe. In 2018, Rest of Europe accounted for a major share in the Europe floor coating market, which was followed by Germany. The demand for epoxy floor coating is increasing in the rest of Europe over the past few years as epoxy floor coating is one of the most versatile floor coating systems available.
The construction industry in Germany is anticipated to witness a positive outlook owing to a surge in its residential construction. The country's residential construction is expected to bolster driven by low-interest rates, high employment rate as well as increasing need to provide new housing to citizens and outsiders. Additionally, increasing tourism has led the country to experience an increase in hotels, which is a major driver for Germany's commercial construction sector. The awareness related to the benefits offered by floor coatings when coupled increasing residential and commercial construction sector in Germany, the market for floor coatings is expected to flourish in the coming years.
Some of the players present in Europe floor coating market are Axalta Coating Systems Ltd, Maris Polymers S.A., Michelman, Inc, The Lubrizol Corporation, The Sherwin-Williams Company, PPG Industries, Inc, 3M Company, Sika AG, Nippon Paint Holdings Co., Ltd., and Rust Oleum
The overall Europe floor coating market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe floor coating market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe floor coating market.