About the Floor Coatings Market in Europe
Paints and coatings have a wide range of applications and are used on various substrates such as metals, plastics, composites, wood, and concrete. They can be segmented into two broad categories of decorative and performance coatings. Decorative coatings are used to enhance the aesthetic appeal of the substrate while performance coatings are solely used for functional purposes such as protecting the substrate from exposure to harsh weather, chemicals, and microbes.
Technavio’s analysts forecast the floor coatings market in Europe to grow at a CAGR of 5.16% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the floor coatings market in Europe for 2016-2020.
The market is divided into the following segments based on technology:
Technavio Announces the Publication of its Research Report – Floor Coatings Market in Europe 2016-2020
Technavio recognizes the following companies as the key players in the floor coatings market in Europe: Akzo Nobel, DAW, PPG, and Tikkurila.
Other Prominent Vendors in the market are: 3M, BASF, Benjamin Moore, Feyco Treffert, ICA Group, IVM Chemicals, Jotun, KAPCI Coatings, Renner Italia, RPM International, Sherwin-Williams, Sirca, Sniezka, Sto, Valspar, and Weilburger Coatings.
Commenting on the report, an analyst from Technavio’s team said: “A trend which has positively impacted the market is nanotechnology. The global coatings market has always been R&D intensive, with key vendors making concerted efforts at technology and product innovation to capture larger market shares. Developed regions such as Western Europe have been at the forefront of such innovations in the global coatings market, with key vendors such as Akzo Nobel leveraging the potential of nanotechnology to introduce nanocoatings.”
According to the report, a key growth driver is the demand from parquet flooring applications. Parquet flooring involves the use of geometrically-shaped wood pieces to form a mosaic and increase the aesthetic appeal of wood floors. Since 2012, there has a been steady rise in the demand for parquet floors, especially from countries in Central and Eastern Europe. Key producers of parquet floors are diversified across Europe, while the consumption of parquet floors is concentrated in Western Europe.
Further, the report states that one challenge that could restrict market growth is the issue related to durability. Enhancing the durability of floor coatings for both wood and concrete substrates has been a prime challenge to vendors. High-traffic areas are usually made of concrete and require high performance, durable floor coatings that are also aesthetic.
Akzo Nobel, DAW, PPG, Tikkurila, 3M, BASF, Benjamin Moore, Feyco Treffert, ICA Group, IVM Chemicals, Jotun, KAPCI Coatings, Renner Italia, RPM International, Sherwin-Williams, Sirca, Sniezka, Sto, Valspar, Weilburger Coatings.
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