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The global floor coating market size was $3.3 billion in 2022 and is projected to grow from $3.51 billion in 2023 to $5.72 billion by 2031, with a CAGR of 6.3% during the forecast period (2024-2031).
The main growth factor for floor coatings is the increasing use in various settings such as factories, warehouses, hospitals, and retail stores across commercial, industrial, and residential sectors. The floor coating market exists to provide options that maintain and protect the aesthetics of various types of flooring. These coatings extend the life of floors by protecting them from damage, discoloration, and wear. They also enhance the appearance of the floors. Additionally, benefits such as slip resistance, improved safety, and ease of cleaning and maintenance further contribute to the advantages of floor coatings. Continuous technological innovation is necessary to develop coatings with superior performance, including improved durability, chemical resistance, and wear resistance.
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