Global Flooring Chemicals Market - 2020-2027
|地板化學品的全球市場（2020-2027） Global Flooring Chemicals Market - 2020-2027|
|出版日期: 2020年10月23日||內容資訊: 英文||
The global flooring chemicals market size was worth US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Flooring chemical materials are used to destroy bacteria & viruses and can protect areas from spills, solvent, alkalis and other corrosive elements. Several flooring chemicals including epoxies, resins, polyurethane and PMMA are used in construction, remodeling and decorating of indoor construction buildings. The use of chemicals in furnishings and fittings can make the home a potentially safe environment.
Flooring covers a substantial proportion of the buildings and can contribute significantly to protect the indoor environment. Epoxy and Polyurethane based flooring systems are ideal solutions due to its properties like excellent abrasion slip resistance and high mechanical stresses resistance. All flooring chemical products are solvent-free, elastic seamless crack-free resistant and shrinkage free during curing.
The flooring chemicals are used in several industries including chemical industries, liquid-treating industries, hospitals, food industries, manufacturing plants, pharmaceutical industries among others.
The global flooring chemicals market growth is driven by rising demand for durable and good aesthetic flooring for the end-user industries such as in chemical laboratories, pharmaceutical and metal industries
Rising demand for durable and good aesthetic flooring
Flooring chemicals plays a vital role in making envirnment clean, safe and hygenic hence which can be preferred in several industries such as chemical industries, metal industries, etc. As per the European Chemical Industry Council, global chemicals industry turnover was valued at US$ 3,951 billion in 2018. Thus chemical industry produces several flooring chemical products which are used in the manufacturing plants, metal industris and pharmaceatical industries to protect from cracks and impacts
Rising demand of flooring chemicals is driven by growing industrialization and urbanization due to surge in the population growth
Rising global population with boost in the trend of moving towards urban areas along with surge in industrialization have propelled the demand for the flooring chemicals globally. As per the Weforum Organization, urban population of the world's is increasing at 200,000 people per day which propelled the demand for affordable housing, transportation social and utility infrastructure development. It has created massive demand for the flooring chemicals used in the household and huge infrastrucre development projects.
Rising adoption of renwable chemical materials for flooring to avoid the VOC emmission and to compat the global pollution have created huge opportunity for the market growth
Several chemical industries are launching renewable and envirnment friendly products for flooring to create green buildings by adopting advanced techology materials may create huge opportunity for the growth of this market. For instance 12th Dec 2019, BASF SE launched new MasterTop XTC solution material which helps to make floor installation faster and more durable. This developed material unique material characteristics such as environmental and user friendly with odorless, self-smoothing features enhanced durability and fast service recovery.
COVID-19 Impact Analysis
The global flooring chemicals market has received immense demand during the COVID-19 pandemic, as it helps to kill bacteria abd fungi present in the floors. Several leading players launched surface and cleaning disinfancant chemicals as well as have made partnerships, merger and acquisition activities during the covid-19 pandemic.
For instance on 2nd June 2020 Ecore, leading a manufacturer of ergonomic and acoustic performance has partnered with Rochester Midland Corporation a leading specialty United States based chemical manufacturer for distributing Enviro Care Neutral Disinfectant into the sports, fitness recreation markets.
Further on 11th Sep 2020, Welspun Flooring launched a new chemical for wide range of flooring for its first-of-its-kind anti-viral properties. It has special coating of silver ion and titanium oxide which can inhibits the growth of and eradicates the virus by 99.68%, including the novel coronavirus.
Market Segment Analysis
The global flooring chemicals market is segmented based on product, function, application, end-user and region.
Epoxy resin is majorly used in flooring due to its chemical and acid resistant properties
On the basis of product, the global flooring chemicals market is segmented into Phthalates, Formaldehyde, Polyurethane, Poly Methyl Methacrylate (PMMA), Volatile Organic Compounds (VOCs), Epoxy Resins, Vinyl Ester resins and others. Among this epoxy resins has the highest market share in 2019, this is primarily due to rising demand for the residential and commercial constructions. According to the Census Government Organization, global construction spending during August 2020 increasing at the rate of US$ 1,412.8 billion annually with increasing at 1.4%. It created massive demand epoxy resin as flooring chemical used in the construction industry.
Similarly, phthalates, formaldehyde, polyurethane, poly methyl methacrylate (PMMA), volatile organic compounds (VOCs), vinyl ester resins segments are also growing at faster pace owing to rising industrialization and urbanization around the globe.
Resilient segment is expected to hold the largest market
By function, the flooring chemicals market is segmented into resilient, soft covering, non-resilient and others. Among these, the resilient segment accounted for the largest share of the flooring chemicals market in 2019, this is primarily due to increasing launching of new solution for flooring. For instance on 17th July 2019, Bona US launched new resilient floor renovation solution which provides environmental impact, high staining capacity to meet different staining protocols and better safety controls.
Commercial buildings are growing extensively in developing countries during the forecast period.
By application, the market is segmented into residential, industrial, corporate building and commercial building. Among this commercial buildings segment has the highest share due to rising demand for flooring chemicals with surge in the commercial buildings and constructions projects around the globe.
Market Geographical Analysis
North America region is witnessing strong growth in residential building development
North America region is dominating the global flooring chemicals market and accounted for the largest market share in 2019, due to growing building and constructions projects with presence of advanced technology and growing urbanization & industrialization in this region followed by Europe and Asia-Pacific.
The United States and Canada are the major contributors to the growth of Flooring Chemicals in North America. As per the Census Government Organization, the private construction spending in the Spending United States was valued at around US$ 1,061.4 billion whereas global construction market is projected to reach around US$8 trillion by 2030. The construction industry uses flooring chemicals for the protection and the market is driven by China, US and India. Similarly, Asia Pacific region is witnessing the growing adoption of flooring chemicals on the residential, commercial and industrial sectors with surge in the population and manufacturing plants in this region.
Market Competitive Landscape
The flooring chemicals market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Sinopec, Stonhard Inc, Huntsman Corp, ExxonMobil, BASF SE, SABIC, Ineos, LyondellBasell Industries, Tremco Inc, Mitsubishi Chemical Corporation, LG Chem, AkzoNobel, Forbo Holding, Toray Industries., PPG Industries, RPM International Inc, Borealis AG and among others.
The major players are adopting renewable chemicals products for flooring with several growth strategies such as product launches, acquisitions and collaborations, which are contributing to the growth of this market globally. For instance, on 26th Nov 2019, Mitsubishi Chemical Company completed acquisition of Thermoplastic Polyurethane Elastomer Business of United States based AdvanSource Biomaterial Corporation. Further on 29th August 2019, Mitsubishi Chemical launched plant-derived and biodegradable polymer BioPBS adopted for variety of applications.
Overview: BASF SE, founded in 1865 with the U.S. office based in Ludwigshafen, Germany. The company supply products with environmental protection to facilitate social responsibility. The company has more than 117,000 employees which contribute to the success of customers in nearly all sectors and almost every country in the world. The portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF SE generated revenue of around US$ 69 billion in 2019.
Product Portfolio: The Company has a diverse product portfolio includes in several sectors such as chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural
Key Development: In 14th May 2020, BASF SE group's master builders solutions have launched Ucrete CS heavy-duty color-stable flooring for enhanced esthetics. It provides enhanced resistance to discoloration from chemical staining and ultra-violet light for heavy-duty environments in the food and beverage industries. These chemical for flooring available in extended range of stable colors, including pastel shades.
The global Flooring Chemicals market report would provide an access to an approx. 78 market data table, 72 figures and 230 pages.
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