In any structure, the floor is subjected to tremendous stress due to constant movement and direct load applied by the occupant or interior components such as furniture. Thus, the floor undergoes high levels of friction that causes frequent wear and tear, in turn requires frequent maintenance and repair. Floor coatings are used to ensure proper protection and maintenance of floors. These offer high resistance to chemicals, abrasion, and impact, while adding to aesthetic appeal. Floor coatings cost-effective, widely available, and easy to apply, and provide ample protection to the applied surface. A wide variety of floor coatings are available in the market, depending on the environment, structure, and specific requirements of consumers.
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Increasing government investments on corporate and commercial infrastructures is expected to potentially drive demand for floor coatings. For instance, the Indian government has decided to step up the investments in infrastructure sector. For example, in 2015, the Indian Ministry of Road Transport, Highways and Shipping announced a target of US$ 376.53 billion investment in infrastructure sector by 2018. This in turn creates a highly conducive environment for growth of the global floor coatings market, considering the highly populous region that offers highly lucrative growth opportunities for players. Furthermore, easy of FDI norms in emerging economies such as India and China has led to an increasing influx of multinational companies in the region. Major companies lay high emphasis on maintaining aesthetic appeal of their commercial buildings, especially those that directly engage with clients. This fuels demand for high quality floor coatings, among other things in order to ensure high aesthetic appeal without compromising on functionality. The food industry is emerging as a major end user of floor coatings, as floors of associated buildings are subjected to high levels of corrosion. Steady growth of the food industry is another factor that is expected to augment growth of the floor coatings market in the foreseeable future.
Rapid urbanization in emerging economies such as India, China, and Brazil 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 sectors.
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