FLOOR SEALER AND FINISHER INDUSTRY INSIGHTS
The global floor sealer and finisher market size was valued at USD 2.2 billion in 2020 and is expected to reach USD 3.41 billion in 2026, growing at a cumulative average growth rate (CAGR) of 7.58% during the forecast period. Renovation and remodeling are the significant factors driving the growth of the market globally.
Advancements in technologies and stringent government regulations toward VOCs and the usage is fueling the adoption of water-based floor sealer and finisher. Increasing activities in the construction and infrastructure sectors and rising demand for decorative flooring from residential and commercial sector is expected to boost the market growth. Increased residential and commercial construction sectors investments will drive the demand for floor sealers and finishers in China.
The revival of the development in the infrastructure sector will increase the demand for floor sealers and finishers across the global market. Going forward, efforts are expected to be taken by the government and private sector once the market conditions are normalized. The demand for these products is expected to fuel the growth of the floor sealer and finisher market. New construction activities are allowing the vendors to promote new brands and products. The development of commercial spaces, such as shopping malls, retail places, and offices, is expected to support the growth of the floor sealer market.
- Rising population in APAC, government initiatives toward the construction sector, and foreign investments in commercial spaces are expected to raise the demand for decorative flooring in the APAC region.
- Offline channels are the most effective distribution channel accounting for almost 60% of the floor sealer and finisher products globally.
- Water-based products are replacing solvent-based products in Europe. New rules have been set by the European Commission and federal government agencies for eco-product certification in the market.
- The floor sealer & finisher market in the US is expected to reach USD 556.46 million by 2026 due to the growth of the construction industry across the country.
FLOOR SEALER AND FINISHER MARKET TRENDS & DRIVERS
- The trend of mergers and acquisitions is becoming increasingly popular among the floor finisher market creating growth opportunities for the players.
- Renovation and remodeling are the significant factors driving the growth of the market globally.
- The rising of DIY among consumers drives the demand for floor sealer and finisher products across all regions.
- Demand for prefabricated buildings is growing significantly, especially in developed regions such as North America and Europe. This, in turn, is fueling the demand for floor sealers and finishers from the manufacturers of such buildings.
INSIGHTS BY PRODUCTS
In 2020, the global water-based floor sealer and finisher market was valued at USD 0.95 billion.
High disposable income in developed nations and strict government regulations has fueled the demand for water-based floor sealer and finisher in developed regions such as Europe and North America. The demand for water-based floor sealer and finisher solutions is increasing due to the stringent regulatory environment. With advancements in the chemical industry and rising concern about the impact of solvent-based sealers on the environment, demand for water-based sealers is significantly increasing across the globe.
INSIGHTS BY APPLICATION
The global concrete floor sealer and finisher market will grow at a CAGR of 6.52% by 2026.
The robust nature of concrete and low price has pushed the demand for concrete floor sealers and finishers. Over the estimated period, the increasing need for beautiful flooring needs in driveways, garages, sidewalks, courtyards, and parking lots throughout the world is expected to fuel the growth of the industry. Vendors who can cater to the demand for advance and bio-based concrete floor sealers and finishers are expected to witness a growing market share in the upcoming years.
INSIGHTS BY END-USER
The residential in the end-user segment is expected to witness incremental growth of USD 0.46 billion by 2026.
Residential and commercial sectors are the primary revenue generators for the floor sealer and finisher market share. The rising population in the APAC region is boosting residential construction, along with new housing projects by the government. Hence, the demand for floor sealers and finishers in the residential sector is expected to increase in the region. Existing buildings are estimated to represent up to 80% of the stock in some countries by 2030, and retrofits will play a critical role in the industry.
INSIGHTS BY DISTRIBUTION CHANNEL
Vendors in countries such as the US and the UK primarily sell their finished products either in B2B brick and mortar stores, directly through distributors, or through their websites and other online channels. With the rising adoption of digitalization, many vendors focus on capitalizing on online opportunities and reaching out to customers directly via online websites and other digital media. The online sale is growing at a considerable rate. Although a small contributor to the overall market revenue, it is expected to become a significant distribution channel over the coming years. The vendors must realize that the online distribution mode is equally important as the offline medium of product sales and distribution. Digital sale is a relevant contributor to the overall revenue generated by the company in the industry.
INSIGHTS BY GEOGRAPHY
Growing penetration of prefabricated building manufacturers, significantly rising retrofit activities, and rising demand for housing units from developing countries are the major factors for the rising demand for floor sealers and finishers products in the European region. The environment-friendly characteristics of water-based floor sealers and finishers are among the most important trends witnessed in the areas to accelerate the floor sealer and finisher market share. The floor sealer market in Europe is expected to reach USD 0.89 billion by 2026. Several European nations like Ireland, the United Kingdom, Germany, Sweden, and the Netherlands are estimated to increase residential and housing construction units by 2025 significantly.
INSIGHTS BY VENDORS
The players are competing on various factors such as cost, product innovations, and technology. Armstrong Flooring, Diversey, 3M, and Sika are the key players in the industry. Vendors will boost profitability through efficient production techniques that will minimize production costs and mitigate associated risks in the future. Cost-effectiveness is a major point of competition among players to gain an edge over other vendors in the industry. Players are expected to create a high online presence to expand their business in the industry.
The floor sealer and finisher market research report include an in-depth analysis of the industry analysis with market dynamics, SWOT analysis, competitive landscape, drivers, and restraints for the following segments:
- Distribution Channel
- South Korea
- North America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America