Performance Flooring Market Report
The Performance Flooring Market is segmented by Material Type (Epoxy, PU Resin, PU Cement, MMA, and Others), By Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), By End-User Type (Industrial and Residential & Commercial), and By Region (North America, Europe, Asia Pacific, and Rest of the World)
The Performance Flooring Market is segmented by Material Type (Epoxy, PU Resin, PU Cement, MMA, and Others), By Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), By End-User...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Performance flooring is used to coat the floor for protecting it from the forces of external damage and enhance the flooring performance by providing chemical resistance, electrostatic discharge, curing time, and abrasion resistance. Due to its antimicrobial property, ease of application, and economic cost in comparison to concrete flooring, it has been becoming the choice of flooring. The selection of the flooring materials is dependent on several parameters, including substrate type, quick curing time, resistance, self-leveling, durability, traffic endurance, etc. Epoxy, PU resin, and MMA (methyl methacrylate) are the three major materials used by flooring suppliers, among which the epoxy material held a dominant market share in 2020, owing to its numerous advantages over others.
As this market is largely linked to the construction industry, it has witnessed a pitfall owing to the COVID-19 pandemic, which caused havoc in the industry. As a result, the global performance flooring market nose-dived at -13.9% in 2020. After this humongous decline, the market is expected to rebound by the rate of 10.5% in 2021, backed by the industry’s method of coping with dynamic situations and strong fundamentals, which make the long-term market outlook seems promising.
Based on the end-user type, the performance flooring market has been classified into industrial and residential & commercial. Despite taking a plunge in 2020, Increasing activities in the industrial sector based on building parking spaces, and an increase in the number of healthcare facilities opened worldwide to combat COVID and also to have better access to educational infrastructure, the commercial sector has observed a robust demand and is expected to remain the most enhance construction during the forecast period.
Based on the material type, the market is segmented as epoxy, PU resin, PU cement, MMA, and others. In 2020, epoxy accounted for the largest market share as a result of its large usage. Apart from epoxy, PU cement also has a significant share among the material types, preferably used in the food & beverage industry, and is expected to influence the market growth. Similarly, in terms of application type, the market is bifurcated as food & beverage, healthcare, automotive manufacturing, industrial manufacturing, and others. Among these applications, industrial manufacturing was valued as the largest market segment in 2020, due to its large utility and demand.
In terms of region, the market is subdivided into four regions: North America, Europe, Asia Pacific, and Rest of the World. Among these regions, Europe had the dominant market share in 2020, with countries such as Germany, France, the UK, and Italy being the growth engines of the regional market. In Europe, several rules and regulations have acted as a buoyant force to keep the performance flooring manufacturing afloat. In addition to that, in order to ensure healthy growth, various firms have teamed up for the upcoming construction or flooring programs. Several major flooring manufacturers, distributors, and contractors are present in Europe, making the region ideal for the performance flooring market. The region is also estimated to continue its dominance throughout the forecast period as well.
The Asia-Pacific region is likely to witness the fastest growth during the forecast period, due to the growing demand in the economies like China, Japan, and India. There are several domestic companies for performance flooring scattered in the region.
The market for performance flooring is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in this briskly expanding market. For instance. In 2021, RPM’s division Carboline acquired Dudik Inc., a standalone world leader in performance coatings, flooring, and tank linings. Similarly, recently, Sherwin Williams acquired Tennant Coatings, and COVESTRO acquired Industrials & Functional Materials business from Royal DSM, which will enhance their global network and add profits estimated to be EUR 1 billion. After the acquisition, the aforementioned companies have witnessed good growth in their profits and annual revenues. Moreover, there has been a 25% increase in the setup of the R&D facilities.
The supply chain of this market comprises several channels including the raw material manufacturers, flooring manufacturers, and local companies, among others. The following are some of the major players in the performance flooring market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s performance flooring market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our Floor Adhesive Market report from the industry stakeholders, we have tried to further accentuate our research scope to the performance flooring market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The performance flooring market is segmented into the following categories:
Performance Flooring Market, by Material Type
Performance Flooring Market, by Application Type
Performance Flooring Market, by End-User Type
Performance Flooring Market, by Region/Country
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
The performance flooring market is estimated to grow at a CAGR of 4.7%, during 2021-2026.
AFI Licensing LLC, Ardex Group, COVESTRO, General Polymers Thermoplastic Materials, LLC, Gerflor Group, Jotun, MBCC Group, RPM International Inc., Sika AG, and The Lubrizol Corporation are some of the key players in the performance flooring market.
Europe is estimated to dominate the performance flooring market in the forthcoming years, followed by the Asia-Pacific region.