Portland, OR — (PRESS RELEASE JET) — 09/25/2017 — The global Floor Coatings Market accounted for $1,666 million revenue in the year 2015, and is expected to reach $2,612 million by 2022, supported by a CAGR of 6.6%.
The economic growth is set to foster the ongoing urbanization, with many countries in Asia-Pacific still being largely rural. Moreover, the growth in population in these countries is expected to boost the demand for housing and commercial infrastructure, which in turn is projected to drive the floor coatings market during the forecast period.
Rapid urbanization in the emerging economies, such as India, China, Brazil, and others, has led to upsurge in civil construction activities, which is a key driving factor that promotes the usage of floor coatings in the residential, commercial, and industrial. Moreover, increase in commercial and residential construction activities in the emerging economies, such as India and China, is expected to fuel the market growth in Asia-Pacific.
A binder is a substance that holds or draws other materials together to form an adhesive, providing a strong elastic adhesion and shock absorbent property for floor coating materials. The binder or resin is one of the most important components of floor coatings, which is the basic solid film that remains after the solvent is vaporized. It determines the necessary coating properties such as hardness, abrasion resistance, flexibility adhesion, gloss level, speed of drying, and durability. In the year 2015, epoxy resin occupied 37.7% share, in terms of revenue, and is expected to grow at a CAGR of 7.0% during the forecast period. Epoxy has become a generic term for different types of resin floor coatings. For instance, epoxy is a premier garage floor coating.
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– North America
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