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

The slowdown in Construction Activities Worldwide amid COVID-19 to Hinder Market Progress

Central to the factors boosting the floor coatings market growth is the booming demand for construction, especially in the developing economies of India and China. According to Oxford Economics, for instance, 57% of the global growth in the construction industry will be led by India, China, and the US by 2030. However, the outbreak of the COVID-19 pandemic has dampened the energies of the construction industry.

A recent survey by the Royal Institution of Chartered Surveyors in the UK revealed that on-site productivity at construction sites is expected to fall by 12%, while only 20% of the stalled projects are predicted to restart amid the pandemic. Contracting construction operations will have a direct bearing on the market for floor coatings as these materials are extensively deployed in residential and commercial spaces. With construction projects being executed with a reduced workforce and social distancing measures, the bounce-back of the construction industry is anticipated to be sluggish.

List of Key Companies Profiled in the Floor Coatings Market Report:

• Kansai Paint Co., Ltd (Osaka, Japan)
• DSM (Heerlen, Netherlands)
• ADCOS NV (Malle, Belgium)
• Asian Paints Ltd. (Mumbai, India)
• The Sherwin-Williams Company (Ohio, U.S.)
• BASF SE (Ludwigshafen, Germany)
• PPG Industries, Inc. (Pennsylvania, U.S.)
• Tennant Coatings (Minneapolis, U.S.)
• Nippon Paint Holdings Co. (Singapore)
• Jotun (Sandefjord, Norway)
• Akzo Nobel N.V. (Amsterdam, Netherlands)
• RPM International Inc. (Ohio, U.S.)