Canada Floor Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Floor Coatings Market Analysis
The Canada Floor Coatings Market is expected to reach USD 200 million by the end of this year and is projected to register a CAGR of 3.5% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily in the future.
- Increasing building and construction activities in the country will likely drive market growth in Canada during the forecast period.
- The demand for floor coatings from the industrial sector is expected to dominate the market studied, and it is expected to grow during the forecast period due to the increasing demand from the chemical industry.
- On the flip side, strict regulations on VOCs released for floor coatings hinder the market growth.
- With the increasing environmental concerns, the rising demand for environment-friendly floor coatings is expected to act as an opportunity to drive the market in the coming years.
Canada Floor Coatings Market Trends
This section covers the major market trends shaping the Canada Floor Coatings Market according to our research experts:
Rising Construction Activities in the Region
- The construction sector is a significant contributor to the country's economy, fuelling the demand for the consumption of floor coatings in residential buildings and commercial construction applications.
- The construction industry is continuing to grow across Canada, which is expected to increase significantly in the coming years. Owing to the expansion, more high-value and ambitious projects are ongoing in the country, which is further likely to drive the demand for floor coatings.
- Some of the ongoing projects include The Vincent Condos project worth USD 150 million. The project involves the construction of a condominium community in Vaughan, Ontario. The project's construction started in Q1 2022 and is expected to be completed in Q4 2024. The project aims to provide a wide range of regional residential, commercial, and retail facilities. Thereby driving the need for floor coatings.
- Another ongoing project is the Wellington Sur Le Bassin Condominium Tower worth USD 126 million. The project involves the construction of a 25-story condominium tower comprising 380 units in Montreal, Quebec, and is expected to be completed in Q4 2024. The project aims to provide better residential facilities in the region.
- Furthermore, in August 2022, the Government of Canada announced new funding to the Saskatoon John G. Diefenbaker International Airport. The airport is likely to receive nearly CAD 1.7 million from the Airport Critical Infrastructure Programme to expand one of the airport's aprons and to create additional space for the movement of larger aircraft.
- Thus, these projects are expected to boost floor coatings consumption in the country in the coming years.
Growing Demand for Floor Coatings in the Industrial Applications
- Floor coatings are utilized in industrial applications to boost efficiency by facilitating faster material flow and reducing workplace hazards.
- Concrete floors in several industries for instance, in warehouses, assembly plants, etc., are prone to several damages such as damage from harmful chemicals, damage from scratches caused by equipment such as airplanes and forklifts, others. Thus, floor coatings are widely utilized in industry to prevent floors from such damages.
- With the rapid industrialization and construction of manufacturing and processing facilities in Canada, the demand for floor coatings in the industries such as food & beverage, automotive assembling, and pharmaceutical industries is likely to be propelled during the forecast peroid.
- The slip resistance provided by these coatings to floors help minimize the accidents on work floors. Thus, there is a significant demand for floor coverings in industrial applications due to the growing significance of guaranteeing workplace safety and worker welfare.
- Several industrial projects such as Retail, Wholesale, Warehouse construction in the country include, Blair Industrial Business Park Warehouse construction of worth USD 150 million in Cambridge, and others.
- Thus, owing to above-mentioned factors, the demand for floor coatings in industrial applications is expected to grow significantly during the forecast period in Canada.
Canada Floor Coatings Industry Overview
The Canadian Floor Coatings Market is fragmented in nature. Some of the major players in the market include RPM International Inc, AkzoNobel NV, Sika AG, The Sherwin-Williams Company, and PPG Industries Inc., among others (not in particular order).
Canada Floor Coatings Market Leaders
RPM International Inc
AkzoNobel NV
Sika AG,
The Sherwin-Williams Company
PPG Industries Inc.
*Disclaimer: Major Players sorted in no particular order
Canada Floor Coatings Market News
The recent developments about the major players in the market are being covered in the complete study.
Canada Floor Coatings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Construction Activities
4.2.2 Growing Demand for Floor Coatings in the Industrial Applications
4.3 Market Restraints
4.3.1 Strict Regulations on VOCs Released for Floor Coatings
4.3.2 Other Restraints
4.4 Industry Value Chain Analysis
4.5 Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Resin Type
5.1.1 Epoxy
5.1.2 Acrylic
5.1.3 Alkyd
5.1.4 Polyurethane
5.1.5 Polyaspartics
5.1.6 Other Resin Type
5.2 Floor Material
5.2.1 Wood
5.2.2 Concrete
5.2.3 Other Floor Materials
5.3 End-User Industry
5.3.1 Residential
5.3.2 Commercial
5.3.3 Industrial
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AkzoNobel NV
6.4.2 ArmorPoxy
6.4.3 Jotun
6.4.4 PPG Industries Inc.
6.4.5 Sika AG
6.4.6 BASF SE
6.4.7 Teknos Group
6.4.8 LATICRETE INTERNATIONAL INC.
6.4.9 CANADIAN FLOOR COATINGS
6.4.10 Western Canada Coatings
6.4.11 PowerCoat Caanda
6.4.12 Grainger Canada
6.4.13 Zeraus Products Inc.
6.4.14 The Sherwin Williams
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demand for Environment-friendly Floor Coatings
Canada Floor Coatings Industry Segmentation
Floor coatings are durable, protective layers applied to surfaces subjected to extreme wear or corrosion. Warehouses, chemical plants, and production floors are examples of typical applications. The market is segmented by resin type, floor material, coatings component, and end-user industry. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyaspartics, and other resins. By floor material, the market is segmented into the wood, concrete, and other floor materials. By end-user industry, the market is segmented into residential, commercial, and industrial. For each segment, the market sizing and forecasts have been done based on revenue. (USD million)
| Resin Type | |
| Epoxy | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyaspartics | |
| Other Resin Type |
| Floor Material | |
| Wood | |
| Concrete | |
| Other Floor Materials |
| End-User Industry | |
| Residential | |
| Commercial | |
| Industrial |
Canada Floor Coatings Market Research FAQs
What is the current Canada Floor Coatings Market size?
The Canada Floor Coatings Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Canada Floor Coatings Market?
RPM International Inc, AkzoNobel NV, Sika AG,, The Sherwin-Williams Company and PPG Industries Inc. are the major companies operating in the Canada Floor Coatings Market.
What years does this Canada Floor Coatings Market cover?
The report covers the Canada Floor Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Floor Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Floor Coatings Industry Report
Statistics for the 2024 Canada Floor Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Floor Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
