The global flooring paint market is estimated to witness remarkable growth during the forecast period, as concluded in this latest report. A shift in trend towards the floor protection in transportation, manufacturing, chemical, and food-processing industries has promoted higher demand for flooring paints in the coming years. Advancement in the production of units to safeguard the deterioration of interior structure is also expected to promote growth in the global flooring paint market during the assessment period. Furthermore, ascending globalization is one of the primary factors contributing to the mounting demand for flooring paints.
The report published on global flooring paint market is designed with the inclusion of market segmentation based on different aspects to encompass the entire perspective of the landscape. Such segmentation is carried out by application, type, and region. Based on application, the global flooring paint market is segmented into cement floor, ordinary floor, and seamless floor. Based on type, the global flooring paint market is segmented into waterborne and solventborne.
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Detailed Regional Analysis
The global flooring paint market is studied for the segments of North America, South America, the Middle East & Africa, the APAC, and Europe. Among these, North America is currently holding the maximum share of the market, boasting market dominion. It is also anticipated to continue holding such a dominant share in the global flooring paint market over the review period. Such an impressive stature of the market can be owed to the increase in production capacities of many organizations in several end-user industries. Further, technological advancements in the manufacturing sector due to high automation for the material movement and better transportation are some other factors contributing to the growth of the market.
The economic growth noted in the developing countries within Asia Pacific such as India and China is also fostering the market growth for flooring paint market. Such economic growth is also supplementing the snowballing urbanization, pushing the applications of flooring paint exponentially. With many countries in Asia Pacific having higher rural setting, the global flooring paint market is presented with immense growth prospects for the forthcoming years. Apart from that, growing population in these developing countries is leading to higher demand for residential and commercial properties. This mounting growth in the construction industry is bound to provide the need propulsion to the growth of the flooring paint market.
As per the reports published by Asian Development Bank, it is estimated that Asia Pacific is set to invest around USD 8 to 9 trillion in the development of infrastructure by the end of 2020 to maintain its economic growth trajectory. Such hefty investments in the development of the building and construction owing to the global economic development in both developing and developed countries residing in the region have provided an impetus to the growth of the global flooring paint market. In addition, proliferation in the industrial sector in the region is also contributing to the growing need for industrial coatings. Such growth is likely to trigger higher market ascension.
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