North America Floor Care Polymers Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Polyethylene, Acrylic, Acrylonitrile, Biopolymer, and Others), Function (Adhesives, Floor Finish Coatings, Film Formulations, and Others), and Application (Residential, Commercial, and Industrial
Floor care polymers are polishes, wax, sealers, cleaners, and many other products used to take care of different types of flooring, including marble, tiles, wooden, and others. Floor care polymers and additives offer a variety of performance features, including water and UV resistance. Additives for sealers and polishes create rigid, durable films that resist high-traffic use, high-speed burnishing and can reduce maintenance costs by increasing the timeframe between applications. These products also provide a wide range of other performance features, including water-resistance, high gloss, and faster drying. Floor care polymers are widely used in residential buildings, commercial office buildings, and industries, including automotive, electrical & electronics, textile, aerospace, defense, medical, and others.
Market Overview and Dynamics
The floor care polymers market in North America is expected to reach US$ 1,198.07 million by 2027 from US$ 764.68 million in 2019 and is expected to grow at a CAGR of 5.9% from 2020 to 2027. The growth of the construction and pain & coating industries in this region and the extensive use of floor care polymers by the end-user are influencing the market growth. There is an increasing need for preventative maintenance, which is required to protect the investment in the polymer floor surface. All these factors are influencing the demand for floor care polymers in North America. Further, there is an increasing trend of polyethylene in flooring among various industries and commercial offices, creating demand for floor care polymers. Also, the presence of prominent market players, including Cargill, Incorporated; Arkema Group; The Dow Chemical Company; Essential Industries, Inc.; and others is influencing the market growth in this region. However, the laborious filling process and other polymer flooring complexities hinder the North American floor care polymers market's growth. Furthermore, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In the North America region, the US has the highest number of confirmed cases of COVID-19 as compared to Canada and Mexico. This is likely to negatively affect the region's chemicals & materials industry as, due to the COVID-19, the supply chain is likely to get affected. Besides, the overall manufacturing processes, research, and development activities will also impact market growth.
Key Market Segments
The North America floor care polymers market is segmented into product type, function, and application. The floor care polymers market is bifurcated into polyethylene, acrylic, acrylonitrile, biopolymer, and others based on the product type. The acrylic segment dominated the North America floor care polymers market, whereas the biopolymer segment is expected to grow at the fastest growth rate during 2020-2027. The North America floor care polymers market based on function has been bifurcated into adhesives, floor finish coatings, film formulations, and others. The floor finish coatings segment dominated the North America floor care polymers market during the forecast period. The North America floor care polymers market based on application has been bifurcated into residential, commercial, and industrial. The industrial segment held a substantial share during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the floor care polymers market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Arkema Group; Buckeye International, Inc.; Cargill, Incorporated; The Dow Chemical Company; Essential Industries, Inc.; Mitsui Chemicals, Inc.; OMNOVA Solutions Inc.; Stahl Holdings BV; Zschimmer & Schwarz, Inc. among others.
Reasons to buy report
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North America Floor Care Polymers Market, by Product Type
North America Floor Care Polymers Market, by Function
AdhesivesFloor Finish CoatingsFilm FormulationsOthersNorth America Floor Care Polymers Market, by Application
ResidentialCommercialIndustrialNorth America Floor Care Polymers Market, by Country
Arkema GroupBuckeye International, Inc.Cargill, IncorporatedThe Dow Chemical CompanyEssential Industries, Inc.Mitsui Chemicals, Inc.OMNOVA Solutions Inc.Stahl Holdings B.V.Zschimmer & Schwarz, Inc.
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