According to Fortune Business Insights™, the global floor coatings market size is projected to reach USD 4,734.9 million by 2027, exhibiting a CAGR of 7.8% during the forecast period. Rising preference for sustainable flooring solutions will be a central factor driving the growth of this market, as shares in its report.
Source: https://www.fortunebusinessinsights.com/floor-coatings-market-102341
With growing pollution from buildings and infrastructures in urban areas, consumers are showing an increasing inclination towards adopting flooring products that have low levels of volatile organic compounds (VOCs) and low carbon emissions.
As a result, several floor coating manufacturers are developing sustainable flooring solutions to meet this changing consumer behavior. For example, Ecoflor, a UK-based flooring company, has developed Smooth PU (polyurethane) and Liquid Vinyl floors that have long life expectancy and can be re-sealed or modified within premises. As a result, these floors are not only sustainable but are also cost-effective. Similarly, US-based Liquid Floors has been offering green epoxy floor coatings that have zero VOC content. Thus, the widening availability of green floor coatings will hugely benefit the growth of this market.
As per the report, the global market value stood at USD 2,687.7 million in 2019. The report also provides the following:
- A comprehensive evaluation of the various market drivers and trends;
- Granular analysis of the challenges facing the market;
- Careful segmentation of the market; and
- In-depth study of the competitive milieu and regional prospects of the market.
