The India floor coatings market accounted for revenue of $56,000 thousand in 2017 and is anticipated to generate revenue of $91,129.8 thousand by 2025. This market is projected to grow at a CAGR of 6.0% from 2018 to 2025.
Floor coatings are resinous solutions that are used to increase the durability of concrete, tiles, wooden floors, carpets, vinyl, and others. Floor is subjected to greatest amount of damage and thus, requires protection and careful consideration during new construction and refurbishment projects. Floor coatings prevent the floor from damages such as thermal shocks, abrasions, corrosions, and chemical attacks. They consist of sealers and sealants to protect the surface from oxidation and moisture, respectively. They also contain one or more liquid resins that are mixed with aggregates, powders, and decorative materials at the time of application, giving them a highly finished and utilitarian appearance. Other operational advantages of floor coatings are waterproofing, puncture resistance, slip resistance, and microbial protection. They are used across industries such as commercial retail stores, medical & healthcare facilities, aviation & transportation, correctional facilities, educational institutes, restaurants, and others.
The growth of the India floor coatings market is driven by increase in demand from several end-use industries such as construction, industrial, and others. For instance, the Indian market is full of epoxy and polyurethane-based products. Epoxy floor coatings have been gaining prominence in the Indian market due to their ability to provide versatile benefits in terms of aesthetics, performance, and long term durability. However, increase in competition from substitutes is expected to hamper the growth of this market.
Several existing cities and mostly smaller cities and towns are witnessing a boom in housing projects, hospitals and office spaces owing to the Smart City Mission by the Indian government, which fuels the demand for paints & coatings in the country. This creates lucrative opportunities for the floor coatings market.
The India floor coatings market is segmented based on binder type, coating component, floor structure, end-use, and region. Based on binder type, it is categorized into epoxy, thermoplastic, thermoset, and others. By coating component, the market is divided into one-component (1K), two-component (2K), and three-component (3K). Based on floor structure, it is classified into wood, terrazzo, mortar, and others. By end-use, it is classified into residential, commercial, and industrial.
By region, the market is studied across North India, East India, South India, and West India. Some of the major players analyzed in this report are Flowcrete India, AkzoNobel N.V., DowDuPont, The Arkema Group, Asian Paints Ltd., Kansai Nerolac Paints Limited, Sika AG, British Paints, 3M, and Indigo Paints.
Key Benefits for India Floor Coatings Market:
Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
This report outlines the current trends and future scenario of the market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
Major states are mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of the key players along with their key strategic developments are enlisted in the report.
India Floor Coatings Key Market Segments:
By Binder Type
By Coating Type
One component (1k)
Two component (2k)
Three component (3k)
By Floor Structure
By End Use
Get a sample pages of this report Click here