Bharat Book Bureau Provides the Trending Market Research Report on “North America Floor Coatings Market Research Report Forecast till 2027”under Chemicals Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The North America Floor Coatings Market is expected to witness significant market expansion at a CAGR of 6.8% to surpass USD 883.16 million by the end of 2027. Floor coatings are used in applications of heavy surface wear or corrosion as they are tough, protective layers. The end-use areas include residential, commercial, and industrial applications. Some of the major application areas in industrial and commercial floor coatings include pharmaceutical manufacturing, research and laboratory facilities, hospitals and medical offices, food manufacturing and bottling facilities, restaurants and breweries, and warehousing and distribution facilities.
The North America Floor Coatings Market growth is attributed to the rising demand for floor coatings for residential, commercial, and industrial constructions is the primary factor that is expected to boost the growth of the North America floor coatings market. The market expansion is propelled by the growing construction industry in North America with an increasingly urban population. Furthermore, the increasing demand for environmentally friendly coatings, such as water-borne coatings and UV cure technology coatings, is enhancing an opportunity for the manufacturers in the market. Additionally, an increase in mergers and acquisitions by prominent manufacturers is expected to provide many growth opportunities for the market players during the forecast period. However, the stringent government regulations towards floor coatings in the region may restrain the North America floor coatings market expansion during the forecast period.
Market Segmentation
In this report, the North America floor coatings market has been categorized by technology, product type, component, application, end-use, and country.
Based on technology, the market has been divided into water-borne, solvent-borne, and others. The water-borne segment accounted for the largest share of 55.3% in 2019 owing to an increase in demand for low-VOC coatings and environmentally friendly coatings.
By product type, the market has been classified into epoxy, polyurethane, acrylic, cement, polyaspartic, and others. In terms of the component segment, the market has been divided into one component, two-component, three-component, and others. Based on application, the market has been divided into concrete, wood, terrazzo, and others. By end-use, the North America floor coatings market has been classified into residential, commercial, and industrial. The industrial segment dominated the market with a share of 41.9% by value in 2019 owing to increased consumption of floor coatings in the processing industries.
Regional Analysis
Based on region North America Floor Coatings Market has been divided into the US and Canada.
The US is expected to lead the market owing to the largest share of 88.5% in 2019. The regional market growth is anticipated by the growing industrialization and commercialization in the country. The market is expected to register a CAGR of 6.8% to record USD 787.40 million by the end of 2027.
Major Players
The key market competitors of the North America Floor Coatings Market include 3M, PPG Industries, Akzo Nobel, The Sherwin Williams, and DSM.
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