The report forecasts the floor coatings market in Europe to grow at a CAGR of 5.16% during the period 2016-2020.
Floor Coatings Market in Europe 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
The market is divided into the following segments based on technology: