The Industrial Floor Coating Market is expected to grow at a faster CAGR over the forecast period (2020-2027).
The factors driving growth of the Industrial Floor Coating Market includes growing demand for smooth flooring surfaces, expansion of the construction industry, rising focus on using bio-renewable resources in floor coating, increasing application industrial floor coatings in hospitals, manufacturing & industrial plants and showrooms, and improvements in the living standards. Industrial floor coating requires low maintenance cost, cost-effective, enhances aesthetic value and provides long-term performance, are some of the features pushing the market growth. Moreover, growing awareness about the use of industrial floor coating amongst end-users, technological advancements in coatings, rise in the launch of new products and increasing number of smart cities across the globe, are some of the additional factors supplementing the Industrial Floor Coating Market share. In addition, the increasing investments by major companies on research and development, strategic partnerships, and acquisitions between enterprises, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
However, growth of the Industrial Floor Coating Market is hindered due to variations in the prices of raw materials.
The prominent players operating in the Industrial Floor Coating Market are Akzo Nobel N.V., 3M Company, The Lubrizol Corporation, Asian Paints Ltd., Sto SE & Co. KGaA, RPM International Inc., The Sherwin-Williams Company, Axalta Coating Systems, LLC, BASF SE, Daw SE Group and PPG Industries, Inc., among others.
Based on Resin Type, the Epoxy segment is predicted to grow at a significant CAGR during the forecast period
Increasing use of epoxy-based resins in automobile industries, power plants, pharmaceutical industries, and nuclear power plants, because it provides high-performance and anti-skid surface floor, are pushing the segment’s growth.
Based on Flooring Material, the Concrete segment is projected to grow at a robust CAGR over the forecast period
Concrete enhances durability, cost-effective, provides resistance to dampness, and is easy to maintain, are some of the features propelling the segment’s growth.
Based on Region, the Asia-Pacific region is projected to grow at a remarkable CAGR during the forecast period
Rapid growth in the manufacturing industry, rise in Government’s expenditure on the construction of smart cities, increasing per capita incomes, growing adoption of advanced technologies and high population growth rates, are some of the important factors augmenting the Industrial Floor Coating Market size in the Asia-Pacific region.
Key Developments
- Akzo Nobel N.V. acquired Mauvilac Industries Limited, a paints and coatings company in Mauritius, Africa. The company also acquired local production facility, four concept stores, and a strong distribution network. Through this acquisition, the company planned to strengthen AkzoNobel’s customer reach across the African market.
- In 2020, Bona AB, introduced Excimer technology as part of its industrial coating offerings. This will enhance the product portfolio of the company.
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
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: [email protected]
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
The report "Industrial Floor Coating Market by Resin Type, Flooring Material (Concrete, Mortar, Terrazzo), Coating Component, Technology, End-use Sector (Manufacturing, Aviation & Transportation, Food Processing, Science & Technology), Region - Global Forecast to 2024" The global industrial floor coating market size is projected to grow from USD 5.5 billion in 2019 to USD 6.8 billion by 2024, at a CAGR of 4.6% from 2019 to 2024.
The market is projected to grow in accordance with the growth of various end-use industries across the globe.
Factors such as an increase in the industrial and commercial construction, along with the demand for floors in industrial facilities to withstand various chemical attacks & environment conditions, are expected to support market growth during the forecast period.♦ Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=114088165 In terms of value and volume, the epoxy segment is estimated to lead the industrial floor coating market in 2019.The epoxy segment, by resin type, accounted for the largest market share among all the resin types because of the various properties of epoxy.
Some of them include high adhesion, impact resistance, flexibility, and resistance to chemicals and solvents.
Despite being more expensive than the other types of coating binders, the market for epoxy resins witnesses the largest demand due to features such as flexibility, superior adhesion, and corrosion resistance when applied on metallic substances.In terms of value and volume, the concrete segment is estimated to lead the industrial floor coating market in 2019.The concrete segment, by flooring material, led the industrial floor coating market in 2018, in terms of value and volume.
Factors such as lower cost of concrete, its superior durability, and its tensile strength make it the widely used material for the construction of industrial floors.
Industrial Floor Coating Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
Further, this report also highlights the regional and country-level market analysis.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the industrial floor coating market includes AkzoNobel, ArmorPoxy, Asian Paints, Axalta Coating System, BASF, CPC Floor Coatings, Dow Chemicals, Florock Polymer Flooring Systems, Grand Polycoats, Kansai Paints, Koninklijke DSM, Michelman, Inc., Nora Systems, Plexi-Chemie, Inc., PPG Industries, Roto Polymers & Chemicals, RPM International, Inc., Sherwin Williams, Sika AG, Tambour and The Lubrizol Corporation among others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Industrial Floor Coating Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/industrial-floor-coating-market/download-sampleMarket DynamicsGrowing awareness regarding the floor coatings owing to durable, dust resistant, abrasion resistant, waterproof properties is driving the market demand.
Booming end-use industries, leading to expansion of manufacturing plants and facilities is further boosting the market growth.
Rapid industrialization, growing trend for durable yet aesthetic floor across warehouses, factories, manufacturing plants, and assembly units is further contributing the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis.
Industrial Floor Coating market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Industrial Floor Coating market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2015-2026.Segment by Type, the Industrial Floor Coating market is segmented into:EpoxyPolyasparticOthersDownload FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/58105/global-china-industrial-floor-coating-2026-886Segment by Application, the Industrial Floor Coating market is segmented into:ManufacturingAviation & TransportationOthersRegional and Country-level Analysis:The Industrial Floor Coating market is analysed and market size information is provided by regions (countries).The key regions covered in the Industrial Floor Coating market report are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It also covers key regions (countries), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.Competitive Landscape and Industrial Floor Coating Market Share Analysis:Industrial Floor Coating market competitive landscape provides details and data information by players.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020.
