Floor Care Polymers Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Polyethylene, Acrylic, Acrylonitrile, Biopolymer, and Other); Function (Adhesives, Floor Finish Coatings, Film Formulations, and Others); and Application (Residential, Commercial, and Industrial),
The global floor care polymers market was valued at US$ 2,991.95 million in 2019 and is projected to reach US$ 4,572.78 million by 2027; it is expected to grow at a CAGR of 5.6% from 2020 to 2027.
Floor care polymers such as polyurethane, acrylic, biopolymer, and acrylonitrile are polymers that provide a variety of performances such as high gloss, water and UV resistance to protect the floor from damages and to make it look more attractive. These polymers also help in wetting andleveling of floors, provide buff ability and recoat ability. They are developed with technical properties such as detergent and water resistance, traffic and scuff resistance, slip resistance and long-term stability. The floor care polymers are resilient and seals the floor, and brings in safety and beauty in well-trafficked areas as well.
Based on product type, the floor care polymers market is segmented into polyethylene, acrylic
acrylonitrile, biopolymer, and others. The acrylic segment accounted for the largest share of the global market in 2019; whereas, the biopolymer segment is expected to grow at the highest CAGR during the forecast period. Acrylic refers to a transparent thermoplastic homo polymer and is commonly known as plexiglass. Acrylic is similar to polycarbonate and is suitable to use as an impact resistance alternative to glass. It is considered to be one of the cleanest polymers in the market . Acrylic is used in areas with high humidity and mechanical stress. It is used mainly in dining rooms, shopping centers, halls of light industry due to its glassy texture. It is demanded for flooring in sites where a non-slip, strong, and textured surface is required such as in laboratories, footpaths, and subway platforms. The acrylic polymer has long elastic retention capacity and can withstand external loads and helps providing water proof floors. Acrylic polymers used in cement flooring are characterized with high tensile strength, compressive strength, durability, and the ability to withstand aggressive chemical environments. It is mostly present in packing plant, fish and meat cutting shops, dairies as they require less thickness of floors but are able to tolerate the harsh and heavy burden. Acrylic also finds its application is synthetic coatings that are designed for the installation of tennis and other multi-use game zones. The pigmented and textured making provides an ideal surface for a wide range of sports surfaces or floors. Acrylic polymer is used for varying thickness depending upon the requirements of the floor.
The recent COVID-19 outbreak, which began in Wuhan, China during December 2019, has spread around the globe at a fast pace. As of October 2020, the US, Russia, India, Brazil, Spain, China, Italy, France, and Germany are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in October 2020, ~42,512,186 confirmed cases and ~1,147,301 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns imposed by governments. Chemicals and materials is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. Although, China is the global manufacturing hub and is the largest raw material supplier for various industries in the world, it is also one of the worst-hit countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is adversely affecting the global supply chains, and manufacturing and sales of various chemicals and materials. The overall market collapse due to this outbreak is also restraining the floor care polymers market growth due to shutdown of factories, obstacle in supply chains, and downturn in world economy.
Geographically, the floor care polymers market is segmented into North America, Europe, AsiaPacific, South America, and the Middle East and Africa. AsiaPacificheld the largest share ofthe market in 2019, followed by Europe. The floor care polymers market in APAC comprises several developing economies such as China, India, Japan, South Korea, and Australia. These emerging countries are witnessing an upsurge due to growth in urbanization, increasing manufacturing industries coupled with growing industrialization, and the impact of social media, which offers ample opportunities for key market players in the floor care polymers market .
Cargill Incorporated;Arkema Group;Dow;Essential Industries, Inc.; Zschimmer& Schwarz;Mitsui Chemicals Inc.;OMNOVA Solutions Inc.; Buckeye International, Inc.; and Stahl Holdings B.V.Polymer International Holdings PTE Ltd. are among the key players in the global floor care polymers market .
The floor care polymers market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market . Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the floor care polymers market .
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