Construction Flooring Chemicals Market Product (Epoxy, Vinyl, Polyurethanes, and Poly Methyl Methacrylate (PMMA)), Type (Soft Covering, Resilient, Non-Resilient, and Others), Application (Residential, Commercial, Infrastructure, and Repair Structure): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

According to the report published by Zion Market Research, global demand for construction flooring chemicals market was valued at approximately USD 3.06 Billion in 2019, and is expected to generate revenue of around USD 4.45 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026.

28-Sep-2020 | Number of pages: 110 | Report Code: ZMR-3906 | Report Format : | Status : Published

Abstract

According to the report published by Zion Market Research, global demand for construction flooring chemicals market was valued at approximately USD 3.06 Billion in 2019, and is expected to generate revenue of around USD 4.45 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026.

Global Construction Flooring Chemicals Market: Overview

Flooring products are the most significant building construction materials with a diversified product portfolio, which includes soft covering, resilient such as wood, cork, rubber, asphalt, vinyl and linoleum and non-resilient which are extensively used for residential, commercial, and infrastructural applications. Chemicals majorly used in the flooring sector include vinyl resins, PMMA, epoxy, and polyurethane.

Global Construction Flooring Chemicals Market: Growth Factors

Burgeoning demand for advanced flooring products on account of increasing awareness toward durability and good aesthetics features is set to drive the construction flooring chemicals market trends in the coming years. In addition, the growing significance of durable and impact resistant flooring solutions in the manufacturing facilities, laboratories, and metal industries to improve safety, hygienic, as well as reducing VOC emissions is expected to remain a key driving factor for construction flooring chemicals market in the near future.

However, fluctuating crude oil prices is expected to remain one of the challenging factors for the key industry participants and this will hinder the growth of the construction flooring chemicals market in the years ahead. Some of the chemical processing companies are likely to focus on renewable materials and this will further obstruct the market growth trends.  Nevertheless, the long-term presence and sustainability of concrete floorings, the application of coatings such as resins and PU will eventually propel the market size in the coming decade.

Global Construction Flooring Chemicals Market: Segmentation

The global construction flooring chemicals market can be classified into the product, type, and application. Based on the product, the market is sectored into epoxy, vinyl, polyurethanes, and poly methyl methacrylate (PMMA). Type-wise, the construction flooring chemicals market is classified into soft covering, resilient, non-resilient, and others. On the basis of application, the market is divided into residential, commercial, infrastructure, and repair structure. Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Construction Flooring Chemicals Market: Regional Analysis

North America is likely to contribute massively towards the market size over the forecast timeline. The high adoption rate of flooring chemicals in both the residential and commercial sector that includes corporate buildings, shopping complexes, airports, and sports stadiums is expected to increase the market demand over the forecast period. 

The Asia Pacific is projected to witness a lucrative revenue growth during the next ten years. The positive outlook for manufacturing facilities as well as government policies for affordable housings in the major markets including China and India that promotes investments on a domestic level and private overseas investments is expected to be major market growth driving factors in the region.

Latin America is projected to contribute enormously towards the construction flooring chemicals market revenue in the coming years. The firm foothold of automotive manufacturing hubs such as Mexico and Brazil on account of renewing existing government policies to create favourable tax benefits for manufacturers is projected to enhance the market earnings of construction flooring chemicals over the projected period.

The Middle East and Africa are set to witness a lucrative growth over the next few years. The introduction of government policies towards infrastructural expansion is expected to fuel up the demand for construction flooring chemicals market during the forecast period. There remains a significant retail development pipeline in Dubai in UAE, with approximately 13.3 million square feet GFA currently in the execution stage and this is expected to reach practical completion by 2019. This, in turn, will increase the demand for construction flooring chemicals in the region over the forecast period. 

Global Construction Flooring Chemicals Market: Competitive Players

Some of key players in construction flooring chemicals market include BASF, SABIC, DOW chemicals, Sinopec, ExxonMobil, DuPont, Ineos, LyondellBasell Industries, Mitsubishi Chemical Corporation, LG Chem, AkzoNobel, Mitsui Chemicals, Forbo Holding, Toray Industries., PPG Industries, Tremco Inc., RPM International Inc., Stonhard Inc., Huntsman Corp, Borealis AG, among others.

Construction Flooring Chemicals Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

The rapid growth of the construction industry is heading to shifts in lifestyle patterns in developing countries led to fast economic development and higher disposable incomes, which have fuelled the growth of the chemical market for building flooring. In addition, the increase in activities for home improvement and renovation projects is further boosting market growth.

According to Zion Market Research, global demand for construction flooring chemicals market is expected to generate revenue of around USD 4.45 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026.

Latin America construction flooring chemicals market is projected to hold the largest share globally in the future. Growing construction industry in the region and increase in adoption of new techniques in the construction industry is expected to propel the demand of the market over the forthcoming years.

Some main participants of the construction flooring chemicals market are BASF, SABIC, DOW chemicals, Sinopec, ExxonMobil, DuPont, Ineos, LyondellBasell Industries, Mitsubishi Chemical Corporation, LG Chem, AkzoNobel, Mitsui Chemicals, Forbo Holding, Toray Industries., PPG Industries, Tremco Inc., RPM International Inc., Stonhard Inc., Huntsman Corp, and Borealis AG, among others.


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