Additives for floor coatings are being produced on a large scale owing to the significance given to the floor beautification and overall aesthetics in the household as well as commercial sector. The demand for additives for floor coatings has triggered the manufacturers of additives for floor coatings market to produce high-quality additives to ensure effective delivery for the customer’s requirements.
Additives for Floor Coatings Market Highlight: Additives for Floor Coatings with Anti-slip Technology
While there are various alternatives and options in the additives for coatings market, the anti-slip technology is gaining greater traction owing to its endless benefits. The participants of the additives for floor coatings market are harnessing these benefits by manufacturing and distributing these additives for floor coatings in the developed countries that showcase greater demand for additives for floor coatings for their industrial and other floors. In line with this approach are various market contributors such as Tennant Coatings, Protective Industrial Polymers (PIP), All Garage Floors, and others. Leveraging the slip resistant technology, the players of the additives for floor coatings market are seen gaining a competitive edge while focusing on providing new innovative additives for floor coatings in future.
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In a building, the floor requires maximum maintenance, compared to the rest of the structures, as it is subjected to increased amount of load and heavy traffic. This may lead to scraping or other forms of wear. Floor coatings can offer protection against abrasion, chemical spills, slippery floor and/or resistance against impact depending on its typical application. Benefits of additives for floor coatings can include avoiding moisture damage, resisting corrosion and requiring low maintenance. Additives for floor coatings can also enhance the aesthetic aspects (several color combinations, patterns, etc.) of the floor, both internally and externally. Two types of floor coatings that are widely used are, epoxy floor coatings and urethane floor coatings. However, additives for epoxy systems are in much higher demand owing to its stability with concrete. Epoxies are initially liquids and are chemically changed to solids, transforming the floor coatings into mechanically strong and preventing them from chemical degradation. There are numerous additives for floor coatings available and each offers several characteristics to adapt to the surrounding environment. Amount of floors that are being finished with such additives for floor coatings today is increasing around the world. Earlier, the application of floor coatings was limited to only production floors and warehouses. But recently due to the introduction of additives for floor coatings, it can soon be commercialized for many, not to say all, domestic uses. This can drop down the costs of additives and floor coatings even further down.
Additives for floor coatings such as anti-foaming additives (resists foam formation on the floor), wetting & dispersion additives (by using deflocculating effect, it imparts film stabilization), biocidal additives (to avoid damage caused by microbes due to humidity or impurities), rheology modification additives (structural changes or enhancing the thickness and viscosity of floor coatings), impact modifications additives (preventing the surface from deforming). Other additives properties include anti-settling, surface modification, drying and more.
Rising awareness among the industrial sector as well as other end users about the benefits of additives in floor coatings such as anti-slip, chemically resistant, mechanically durable, aesthetically pleasing properties also serve as a fuel to the high demand of additives of floor coatings. Increased industrialization and modern urbanization are the prominent factors that have tremendous potential to boost the market.
On the contrary, the variable prices of the raw materials required for additives for floor coatings can be one of the obstructions in the growing trend of this market. But the increasing demand from the developing nations is expected to neutralize the effect of this restraint in the near future. Innovation is a vital market for the additives for floor coatings as this can further lower the manufacturing cost.
The greater share in floor coatings consists of Epoxy systems with Urethane systems occupying a comparatively smaller share due to its unstable interaction with concrete. Also, with strict government regulations coming into picture, a shift is observed from solvent-borne additives for floor coatings to water-borne additives for floor coatings and powder based additives for floor coatings which can be a prospective opportunity for the market players.
Additives for floor coatings can be segmented on the basis of end use, applications and product types.
On the basis of end use, additives for floor coatings market can be segmented as:
- Industrial use
- Commercial use
- Residential use
On the basis of application, additives for floor coatings market can be segmented into:
- 100% Solid Epoxy Floor Coatings
- Water-borne Epoxy Floor Coatings
- Solvent-borne Epoxy Floor Coatings
- Solvent Free Epoxy Floor Coatings
- Encapsulant Floor Coatings
- Radiation Curable Floor Coatings
On the basis of product, additives for floor coatings can be segmented by:
- Acrylic additives for floor coatings
- Urethane additives for floor coatings
- Fluoropolymers additives for floor coatings
- Metallic additives for floor coatings
- Alkoxylates additives for floor coatings
- Other additives for floor coatings
Market growth is likely to occur widely in the developing economies with a slight share to be experienced by the developed ones as well. Asia-Pacific and Middle East & Africa are regions where substantial growth in infrastructures is being observed. The same trend is expected to be followed in the near future boosting the additives for floor coatings market in these regions.
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The key market players include AkzoNobel N.V., BASF SE, BYK Additives & Instruments, Arkema Group, The DOW Chemical Company, Solvay S.A., Evonik Industries AG, Eastman Chemical Company, and Momentive Performance Materials Inc.