Floor Care Polymers Market to Grow at a CAGR of 5.6% to reach US$ 4,572.78 Million from 2020 to 2027

The floor care polymers market was valued at US$ 2,991.95million in 2019 and is projected to reach US$4,572.78million 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.

The global floor care polymers market in North America is expected to grow at the highest CAGR of during 2020–2027.Floor care polymers are widely used in residential buildings,  commercial office buildings, and in industries such as automotive, electrical and electronics, textile, aerospace and defense, and medical. The growth of the construction and coating industries in this region and the extensive use of floor care polymers by the endusers are influencing the market growth.

The recent COVID-19 outbreak, whichbegan in Wuhan, China during December 2019, has spread around the world at a fast pace. As of October2020, the US, Russia, India, Brazil, China, Italy, Spain, France, and Germany are amongthe 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 materialsis one the world’smajor 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

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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 variouschemicals 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.

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Floor Care Polymers Market: Strategic Insights

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Market Insights

Rise in Demand for Floor Care in Workplace

Proper floor care is a crucial component in every aspect of the business. Whether it is tile flooring or carpet wood, floor care is important in the workplace. The constant foot traffic, dirt and, other allergens may disrupt the business workflow and the appeal. The floor set the tone for the customers and interested parties as soon as they walk inside the office buildings. A clean and shiny foundation provides a feeling of comfort and creates a sense of trust in the facility. The condition of the flooring acts as a representative of the company’s professionalism and the level of cleanliness maintained in the company. The floor care polymers like polyethylene, acrylic, acrylonitrile, and biopolymers used in the floor caring of workplaces offer benefits such as high gloss, hardness, toughness, scuff resistance, slip resistance, water resistance and faster drying. These polymers are the main building blocks that are responsible for the forming of the floor finish film. The other advantage of using floor care polymers in workplaces is the prevention of injuries. Cracked surfaces and slippery floors largely contribute to injuries in the workplace. The floor care polymers are made using different chemicals that help in creating slip resistance, which prevents accidents in the workplace. Foot traffic in offices and commercial buildings drags in mud, bacteria, and all kinds of debris. The floor care polymers help keeping the dirt from getting embedded into the floor and make a huge difference in the appearance of the facility. They also help increasing the life of the floors as they are designed to be extremely durable, abrasion-resistant, and attractive, which, in turn results in extending the service life of the floors. Increasing investments in commercial buildings are expected to drive the demand of floor care polymers in work places. Thus, the rise in demand for floor caring in workplaces drives the growth of the floor care polymers market.

Product TypeInsights

Based on product type, thefloor care polymersmarket is segmented into polyethylene, acrylic,

acrylonitrile, biopolymer, and others.The acrylicsegment accounted for the largest share of the global market in 2019; whereas, the biopolymersegment 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 findsits 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.

FunctionInsights

Based on function, thefloor care polymersmarketis segmented intoadhesives, floor finish coatings, film formulations, and others.The floor finish coatingssegment accounted for the largest share ofthe market in 2019 and is expected to register the highest CAGR during the forecast period. Floor finish coatings are polymer coatings that are applied and painted on the top of an underlying substrate or a primer coating layer. They are also used to protect the surface from oxidations as well as provide static control. Floor finish coating is basically a protective layer that is tough and is used in areas where there is heavy surface wear or where corrosion is expected. Epoxy as a floor coating can be used as resurfacing the applications as well as patching the exposed surfaces and is mostly used for commercial and industrial flooring. This type of coating requires a clean surface and provides strength and low shrinkage during curing. The industrial and the commercial sector rely on these floor coatings to maintain a clean and safe working environment for the workers, inventory, and equipment.

ApplicationInsights

Based on application, the floor care polymersmarket is segmented into residential, commercial, and industrial.The industrial segment accounted for the largest share of the market in 2019and is expected to grow with highest CAGR during the forecast period. The industrial sector includes manufacturing companies, aerospace and defense, chemical factories, warehouses, and construction, among others. In this sector, the flooring should provide a professional look along with one of the strongest coatings. The polymer flooring needs to withstand heavy traffic and is not maintained regularly. Epoxy flooring is resistant to a lot of substances such as oil, water, transmission fluid, gasoline, cleaners, bleach, and many more chemicals. This type of flooring is required to meet a lot of environmental and safety standards. The polymers used should be able to provide durability and easy maintenance, along with protecting the concrete floors.

Mergers and acquisitions, and research and development are commonly adopted strategies by companies to expand their footprint worldwide. Zschimmer & Schwarz, and other companies areamong the global floor care polymers market players implementing these strategies to enlarge the customer base and gain significant market share worldwide, which, in turn, permit the players to maintain their brand name in Europe. For instance, in 2015, Zschimmer & Schwarz acquired Interpolymer Corporation, USA so as to expand the existing business portfolio of the specialty chemicals manufacturer with polymer-based solutions and adds a new division to the existing six business areas.

Floor Care Polymers Market Regional Insights

The regional trends and factors influencing the Floor Care Polymers Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Floor Care Polymers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Floor Care Polymers Market Report Scope

Floor Care Polymers Market Players Density: Understanding Its Impact on Business Dynamics

The Floor Care Polymers Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Floor Care Polymers Market are:

1. Cargill Incorporated
2. Arkema Group
3. Dow Chemical Company
4. Essential Industries, Inc.
5. Zschimmer & Schwarz

Disclaimer: The companies listed above are not ranked in any particular order.

Report Spotlights 

• Progressive industry trends in the global floor care polymersmarket that help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the floor care polymersmarket from 2017 to 2027
• Estimation of global floor care polymersdemand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and global floor care polymersdemand
• Market trends and outlook,and factors driving and restraining the growth of the market
• Understanding of strategies that underpin commercial interest with regard to global floor care polymersmarket growth, which facilitates effective decision-making process

• Floor care polymersmarket size at various nodes of market
• Detailed overview and segmentation of the market, as well as dynamics in the industry
• Global floor care polymersmarket size in various regions with promising growth opportunities in the these regions

Global Floor Care Polymers Market Segmentation

By Product Type

• Polyethylene
• Acrylic
• Acrylonitrile
• Biopolymer
• Others

By Function

• Adhesives
• Floor Finish Coatings
• Film Formulations
• Others

By Application

• Residential
• Commercial
• Industrial

Company Profiles

• Cargill Incorporated
• Arkema Group
• Dow Chemical Company
• Essential Industries, Inc.
• Zschimmer & Schwarz
• Mitsui Chemicals Inc.
• OMNOVA Solutions Inc.
• Buckeye International, Inc.
• Stahl Holdings B.V.
• Polymer International Holdings PTE Ltd.