Asia Pacific Floor Care Polymers Market Growth and Analysis by 2027

The floor care polymers market in APAC is expected to reach US$ 1,449.57 million by 2027 from US$ 941.46 million in 2019 and is expected to grow at a CAGR of 5.7% from 2020 to 2027.

The floor care polymers market in APAC comprises several developing economies such as China, India, Japan, South Korea, and Australia. These emerging countries are witnessing an upsurge due to growth in urbanization, increasing manufacturing industries coupled with growing industrialization, and the impact of social media, which offers ample opportunities for key market players in the floor care polymers market. Asia has ranked highest amongst chemicals producing regions. China is mainly dominating the regional market, followed by other countries such as Japan, Taiwan, Vietnam, Korea, Thailand, Malaysia, and Indonesia. These countries are experiencing rising demand for the manufacturing and construction industry. Apart from the floor care polymers application in the construction industry, floor care polymers are extensively utilized in automotive, corporate office, electronics & appliances, food service, healthcare, hospitality & entertainment, industrial, and other industries. Polymer mortar is a floor finish option; a resinous material is combined with the aggregate and applied by trowel at between 3/16 and 3/8 inches thick. This is effective at filling in the damaged area of the substrate but can be a higher initial investment than some of the other polymer floor coatings. These products are in high demand from commercial, residential, and industrial construction and further are fuelling the market growth in the APAC region. Increasing expenditure towards research and development activities to diversify the application base of floor care polymers has also led to Asia Pacific Floor Care Polymers market growth.

Surge in demand for floor care in workplace are the critical drivers for the growth of APAC's floor care polymers market. Proper floor care is an important component in every aspect of the business.  Floor care is important in the workplace. The constant foot traffic and allergens may disrupt the business workflow and the appeal. A shiny and clean foundation provides a feeling of comfort. The floor care polymers like polyethylene, acrylonitrile, acrylic, and biopolymers used in the floor caring of workplaces offer benefits such as high gloss, toughness, water resistance, slip resistance, and faster drying. The floor care polymers help in keeping the dirt from getting embedded into the floor and makes a huge difference in the appearance of the facility. They also help in increasing the life of the floors as they are designed to be extremely durable, abrasion-resistant, and attractive, which in turn results in extending the service life of the floors. Thus, the rise in demand for floor caring in workplaces is expected to drive the floor care polymers market.

However, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. COVID-19 has affected economies and industries in many countries due to travel bans, lockdowns, and business shutdowns. The Airports Council International Asia-Pacific warned that the coronavirus outbreak's prolonged duration would drastically impact the APAC region’s economic sustainability and airports’ connectivity, significantly restricting them from achieving previously forecasted growth prospects. Such closures are expected to impact market growth in the coming period negatively. Till now, India has the highest number of COVID -19 confirmed cases.

APAC Floor Care Polymers Market Revenue and Forecast to 2027 (US$ Million)

APAC Floor Care Polymers Market Segmentation

APAC Floor Care Polymers Market, by Product Type

• Polyethylene
• Acrylic
• Acrylonitrile
• Biopolymer
• Others

APAC Floor Care Polymers Market, by Function

• Adhesives
• Floor Finish Coatings
• Film Formulations
• Others

APAC Floor Care Polymers Market, by Application

• Residential
• Commercial
• Industrial

APAC Floor Care Polymers Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Floor care polymers Market -Companies Mentioned

• Arkema Group
• Cargill, Incorporated
• Mitsui Chemicals, Inc.
• OMNOVA Solutions Inc.
• Polymer International Holdings Pte Ltd
• Stahl Holdings B.V.
• The Dow Chemical Company
• Zschimmer & Schwarz, Inc.

Asia Pacific Floor Care Polymers Report Scope