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Construction Flooring Chemicals Market will register significant gains over the projected time period 2017- 2024

Author : Ronak Bora | Published Date : 2019-05-10 

Global Market Insights added a new report on global Construction Flooring Chemicals Market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region.

Construction Flooring Chemicals Market size is likely to witness significant gains due to increasing growth of nuclear families and rise in per-capita disposable income on account of buying new residential apartments. Increasing importance towards the durability and impact resistant in manufacturing plants, metal industries, chemical laboratories to improve the safety, hygienic, and reducing the VOC emissions would promulgate the industry growth.

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Flooring products are the most significant building construction materials with a diversified product portfolio, which includes soft covering, resilient such as wood, cork, rubber, asphalt, vinyl and linoleum and non-resilient which are extensively used for residential, commercial, and infrastructural applications. Global flooring market demand was over USD 265 billion in 2016. Water resistance, Improved comfort, ease of cleaning, floor durability are the key indicators fuelling the product demand. Thus, the construction flooring chemicals market size is projected to grow with a rapid pace due to strong outlook in commercial & industrial sectors accompanied with increasing projects in home improvement and renovations.

Construction spending in residential accounted for over 32% of the total market share in 2016. Whereas, in infrastructure accounted for over 35% of the total market share in 2016. Rapid urbanization mainly in India, China, Thailand, and Malaysia may drive industry growth and further stimulate construction flooring chemicals market demand.

Global non-resilient flooring market size may surpass USD 255.5 billion up to 2024. It encompasses clay, ceramic & concrete tiles, terrazzo stone, and brick, which are widely used for designing, wall fittings, and protection from rain and moisture. Rising urbanization and increasing new building demand is likely to drive the overall construction flooring chemicals market size.

Chemicals majorly used in flooring sector includes vinyl resins, PMMA, epoxy, and polyurethane. Fluctuating crude oil cost may challenge industry profitability and affect construction flooring chemicals market price trend. Moreover, companies are focusing on renewable products such as glycerol over conventional feedstock, to maintain market position.

Epoxy resins may witness significant gains owing to its wide application in hotels, corporate office, resorts, and luxury residences should drive construction flooring chemicals market size. Poly methyl methacrylate (PMMA) are used in construction flooring chemicals which are transparent thermoplastics, either used in sheet form as light weight. Global PMMA market size may surpass 3.5 kilo tons by 2024. Increasing spending on marketing and advertising campaigns to create brand equity will propel industry growth.

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Middle East and Africa led by Kuwait, Oman, Dubai, South Africa construction flooring chemicals market size is likely to witness a significant growth over the forecast timeframe. Rising government policies towards infrastructure expansion will fuel product demand over the forecast timeframe. Moreover, the pipeline development in Dubai, with approximately 13.3 million square feet GFA, which is presently in an execution stage, is expected to complete by 2019, which will further boost the market demand.

Global construction flooring chemicals market share is competitive and moderately consolidated. Major players operating in the industry include BASF, SABIC, ExxonMobil, DOW chemicals, Sinopec, DuPont, Ineos, Mitsubishi Chemical Corporation, LG Chem, Forbo Holding,Toray Industries., PPG Industries, Tremco Inc, RPM International Inc, Huntsman Corp. Favorable trend towards forming new SBUs is likely to have a positive impact in the market demand.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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