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)
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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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Function, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 APAC Market Segmentation
1.3.1 APAC Floor Care Polymers Market, by Product Type
1.3.2 APAC Floor Care Polymers Market, by Function
1.3.3 APAC Floor Care Polymers Market, by Application
1.3.4 APAC Floor Care Polymers Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. APAC Floor Care Polymers Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Expert Opinion
5. APAC Floor Care Polymers Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in demand for floor care in workplace
5.1.2 Various applications of floor care polymers
5.2 Market Restraints
5.2.1 Laborious filling process and other complexities of polymer flooring
5.3 Market Opportunities
5.3.1 Rising Demand From China and India
5.4 Future Trends
5.4.1 Development of Macromolecular Polymer Technology
5.5 Impact Analysis Of Drivers And Restraints
6. Floor Care Polymers – APAC Market Analysis
6.1 Floor Care Polymers Market Overview
6.2 APAC: Floor Care Polymers Market – Revenue and Forecast to 2027(US$ Mn)
6.3 Market Positioning – Key Market Players
7. APAC Floor Care Polymers Market Analysis – By Product Type
7.1 Overview
7.2 APAC Floor Care Polymers Market, By Product Type (2019 and 2027)
7.3 Polyethylene
7.3.1 Overview
7.3.1.1 Polyethylene: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Acrylic
7.4.1 Overview
7.4.1.1 Acrylic: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Acrylonitrile
7.5.1 Overview
7.5.1.1 Acrylonitrile: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Biopolymers
7.6.1 Overview
7.6.1.1 Biopolymers: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.1.1 Others: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
8. APAC Floor Care Polymers Market Analysis – By Function
8.1 Overview
8.2 APAC Floor Care Polymers Market, By Function (2019 and 2027)
8.3 Adhesives
8.3.1 Overview
8.3.1.1 Adhesives: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Floor Finish Coatings
8.4.1 Overview
8.4.1.1 Floor Finish Coatings: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Film Formulations
8.5.1 Overview
8.5.1.1 Film Formulations: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.1.1 Others: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
9. APAC Floor Care Polymers Market Analysis – By Application
9.1 Overview
9.2 APAC Floor Care Polymers Market, By Application (2019 and 2027)
9.3 Residential
9.3.1 Overview
9.3.2 Residential: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Million)
10. APAC Floor Care Polymers Market – Country Analysis
10.1 APAC: Floor Care Polymers Market
10.1.1 APAC: Floor Care Polymers Market, by Key Country
10.1.1.1 Australia: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
10.1.1.1.1 Australia: Floor Care Polymers Market, by Product Type
10.1.1.1.2 Australia: Floor Care Polymers Market, by Function
10.1.1.1.3 Australia: Floor Care Polymers Market, by Application
10.1.1.2 China: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
10.1.1.2.1 China: Floor Care Polymers Market, by Product Type
10.1.1.2.2 China: Floor Care Polymers Market, by Function
10.1.1.2.3 China: Floor Care Polymers Market, by Application
10.1.1.3 Japan: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
10.1.1.3.1 Japan: Floor Care Polymers Market, by Product Type
10.1.1.3.2 Japan: Floor Care Polymers Market, by Function
10.1.1.3.3 Japan: Floor Care Polymers Market, by Application
10.1.1.4 India: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
10.1.1.4.1 India: Floor Care Polymers Market, by Product Type
10.1.1.4.2 India: Floor Care Polymers Market, by Function
10.1.1.4.3 India: Floor Care Polymers Market, by Application
10.1.1.5 South Korea: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
10.1.1.5.1 South Korea: Floor Care Polymers Market, by Product Type
10.1.1.5.2 South Korea: Floor Care Polymers Market, by Function
10.1.1.5.3 South Korea: Floor Care Polymers Market, by Application
10.1.1.6 Rest of APAC: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
10.1.1.6.1 Rest of APAC: Floor Care Polymers Market, by Product Type
10.1.1.6.2 Rest of Asia Pacific: Floor Care Polymers Market, by Function
10.1.1.6.3 Rest of APAC: Floor Care Polymers Market, by Application
11. Impact of COVID-19 Pandemic on APAC Floor Care Polymers Market
11.1 APAC: Impact assessment of COVID-19 Pandemic
12. Company Profiles
12.1 Arkema Group
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cargill, Incorporated
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mitsui Chemicals, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 OMNOVA Solutions Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Polymer International Holdings PTE Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Stahl Holdings B.V.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 The Dow Chemical Company
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Zschimmer & Schwarz, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. APAC Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. APAC Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 3. APAC Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 4. Asia Pacific Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 5. Australia Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 6. Australia Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 7. Australia Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 8. China Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 9. China Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 10. China Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 11. Japan Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 12. Japan Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 13. Japan Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 14. India Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 15. India Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 16. India Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 17. South Korea Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 18. South Korea Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 19. South Korea Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 20. Rest of APAC Floor Care Polymers Market, by Product Type – Revenue and Forecast to 2027 (USD Mn)
Table 21. Rest of APAC Floor Care Polymers Market, by Function – Revenue and Forecast to 2027 (USD Mn)
Table 22. Rest of APAC Floor Care Polymers Market, by Application – Revenue and Forecast to 2027 (USD Mn)
Table 23. Glossary of Terms, APAC Floor Care Polymers Market
LIST OF FIGURES
Figure 1. APAC Floor Care Polymers Market Segmentation
Figure 2. APAC Floor Care Polymers Market Segmentation – By Country
Figure 3. APAC Floor Care Polymers Market Overview
Figure 4. Floor Finish Coatings Segment Held Largest Share of APAC Floor Care Polymers Market
Figure 5. China Held Largest Share of APAC Floor Care Polymers Market
Figure 6. Floor Care Polymers Market, Industry Landscape
Figure 7. APAC: PEST Analysis
Figure 8. Expert Opinion
Figure 9. APAC Floor Care Polymers Market Impact Analysis Of Driver And Restraints
Figure 10. APAC: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 11. APAC: Floor Care Polymers Market Revenue Share, by Product Type (2019 and 2027)
Figure 12. APAC Polyethylene: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. APAC Acrylic: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. APAC Acrylonitrile: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. APAC Biopolymers: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. APAC Others: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. Asia Pacific: Floor Care Polymers Market Revenue Share, by Function (2019 and 2027)
Figure 18. APAC Adhesives: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. APAC Floor Finish Coatings: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. APAC Film Formulations: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. APAC Others: Floor Care Polymers Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. APAC: Floor Care Polymers Market Revenue Share, by Application (2019 and 2027)
Figure 23. APAC Residential: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. APAC Commercial: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. APAC Industrial: Floor Care Polymers Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. APAC: Floor Care Polymers Market Revenue Share, by Key Country (2019 and 2027)
Figure 27. Australia: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
Figure 28. China: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
Figure 29. Japan: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
Figure 30. India: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
Figure 31. South Korea: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
Figure 32. Rest of APAC: Floor Care Polymers Market –Revenue and Forecast to 2027 (US$ Mn)
Figure 33. Impact of COVID-19 Pandemic In APAC Country Markets
- 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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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