The GMI Research’s latest analysis reveals that the Industrial Floor Coating Market is slated to register a significant CAGR over the forecast period. This is attributed to the strong demand for industrial floor coating in a large range of industries and commercial infrastructures, such as food & beverages, manufacturing, hospitality, healthcare, car parking infrastructures, transportation, and public safety sectors.
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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 Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global industrial floor coating market is predicted to witness an upsurge in demand during the forecast period due to the strong demand for industrial floor coating in a large range of industries and commercial infrastructures, such as food & beverages, manufacturing, hospitality, aviation, healthcare, car parking infrastructures, transportation, and public safety sectors. The growing demand for floor coating in industries due to its beneficial factors that include low maintenance cost, cost-effectiveness, long-term performance, corrosion-resistant, moisture resistance, and surged aesthetic value is expected to open doors for the growth of the industrial floor coating market size. In addition to this, increased government investments in developing the manufacturing industry and the rapid economic development worldwide are the factors contributing to the growth of the industrial floor coatings market. The high demand for floor coatings in the sectors where high chemical resistance and tensile strength flooring is needed will further bolster the market growth. On the other edge, the factor hindering the growth of the market include the fluctuation in the price of raw materials. The manufacturing sector is being affected owing to the COVID-19 pandemic, thus hampering the market growth.
Resin Type Segment Drivers
On the basis of resin type, the market is segmented into polyurethane, epoxy, hybrid, and others that include alkyd and acrylic. The epoxy is anticipated to rise at a higher CAGR over the forecast period due to the strong demand in industrial sites, commercial buildings, flooring, and warehouses. Furthermore, it provides an anti-skid surface floor, a high-performance, smooth, high-gloss, and hard-wearing durable surface when used over concrete floors. Epoxy floor coatings are largely used in industries like molding industries, power plants, nuclear power plants, automobile industries, food industries, and pharmaceutical industries due to their high resistance to temperature and degradation produced by acids, moisture, and other impacts.
End-Use Sector Segment Drivers
Based on the end-use sector, the market is segmented into aviation & transportation, science & technology, manufacturing, food processing, and others, such as car parks, healthcare, hospitality, and fire & public safety sectors. Manufacturing is projected to lead the market due to the increasing number of manufacturing facilities and factories in numerous manufacturing sectors, which include energy industries, electronic industry, metalworking industries, mechanical industry, chemical industries, telecommunications industries, and plastic industry.
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)
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