The GMI Research expects the industrial floor coating market to expand at a significant rate. From a regional perspective, the Asia-Pacific is projected to increase at a faster rate owing to the continuously rising infrastructural & construction, manufacturing, automotive sectors, and electronics. The growth in per capita disposable incomes, growing middle-class population, are driving the market’s demand.
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Industrial Floor Coating Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global industrial floor coating market is expected to grow at a significant rate during the forecast period due to the strong demand for industrial floor coatings in a large range of commercial and industries infrastructures, such as aviation, food & beverages, transportation, manufacturing, hospitality, car parking infrastructures, healthcare, and public safety. The strong demand for floor coating in sectors due to its beneficial properties that include moisture-resistant, long-term performance, cost-effectiveness, corrosion-resistant, low maintenance cost, and surged aesthetic value is bringing numerous new growth opportunities to the market. Additionally, the increasing government investments in developing the manufacturing sector globally, coupled with the rapid economic development, are the prominent factors bolstering the growth of the industrial floor coating market size. The rising demand for floor coating in the sectors where high chemical resistance and tensile strength flooring is needed is further contributing to the market growth. On the other hand, the factor hindering the growth of the industrial floor coating market include the variations in the price of raw materials. The emergence of the COVID-19 pandemic has adversely impacted the manufacturing industry, thus hindering the growth of the market.
Resin Type Segment Drivers
Based on resin type, the market is segmented into epoxy, polyurethane, hybrid, and others that include alkyd and acrylic. The epoxy segment is projected to increase at a higher CAGR over the forecast period due to the high demand in warehouses, industrial sites, and commercial buildings flooring. It also provides a high-performance, smooth, anti-skid surface floor, high-gloss, and hard-wearing durable surface when used on concrete floors. Epoxy floor coatings are largely used in industries like power plants, automobile industries, nuclear power plants, pharmaceutical industries, food industries, and molding industries due to their increased resistance to temperature and degradation produced by acids, moisture, and other impacts.
Industrial Floor Coating Market’s leading Manufacturers:
- BASF SE
- Daw SE Group
- PPG Industries, Inc.
- Akzo Nobel N.V.
- 3M Company
- RPM International Inc.
- The Sherwin-Williams Company
- Axalta Coating Systems, LLC
- The Lubrizol Corporation
- Asian Paints Ltd.
- Sto SE & Co. KGaA
- Bona AB
Industrial Floor Coating Market Segmentation:
Segmentation by Resin Type:
- Epoxy
- Polyurethane
- Hybrid
- Others
Segmentation by Flooring Material:
- Concrete
- Mortar
- Terrazzo
- Others
Segmentation by Coating Component:
- One-component
- Two-component
- Three-component
- Four-component
- Five-component
Segmentation by Technology:
- Water-borne
- Solvent-borne
Segmentation by End-Use Sector:
- Manufacturing
- Aviation & Transportation
- Food Processing
- Science & Technology
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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