Sarasota, FL -- (SBWire) -- 03/13/2019 --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 flooring sector include vinyl resins, PMMA, epoxy, and polyurethane.
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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, 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 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.
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Global Construction Flooring Chemicals Market: Regional Analysis
Based on regions, the global construction flooring chemicals market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America is likely to contribute massively towards the market size over the forecast timeline. The high adoption rate of flooring chemicals in both 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.
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 favorable tax benefits for manufacturers is projected to enhance the market earnings of construction flooring chemicals over the projected period.
The Middle East and Africa is 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, and Borealis AG.
Global Construction Flooring Chemicals Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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Construction Flooring Chemicals Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026