Global Industrial Floor Coatings Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The Global Industrial Floor Coatings Market is expected to be valued at US$ XX Mn in 2019 and register a CAGR of XX% in the next 10-year forecast period. The global industrial floor coatings market report has been segmented on the basis of the product type, flooring material, component, application, and region.
Product Overview: Industrial Floor Coatings
Industrial floor coatings provide maintainable solutions to improve performance of floors in industrial as well as commercial facilities. Industrial floor coatings are made up of durable materials such as concrete, mortar, and terrazzo. Industrial floor coatings are being increasingly adopted by various industries for application in departments such as manufacturing, food processing, warehousing, etc.
Market Drivers, Trends, Challenges and Opportunities
Significantly growing industrialization, in developed and well as developing countries, coupled with rising need for maintainence of flooring in industrial and commercial sectors are major factors that are expected to drive growth of the global industrial floor coatings market over the forecast period .
Furthermore, certain properties offered by industrial floor coatings such as tensile strength and chemical resistance, slip resistance, microbial protection, puncture resistance, waterproof surface, and decorative finish is another major factor expected to result in substantial demand for the products and drive target market growth.
However, factors such as high initial cost and possible damage of these floorings by certain organic acids are factors that could hinder growth of the global industrial floor coatings market to a certain extent.
Analysis Based on Segments
By Product Type:
Currrently, among the product type segments, the epoxy industrial floor coatings segment dominates in the global industrial floor coatings market in terms of revenue, and is projected to maintain its dominance over the forecast period. This is due to increasing demand for epoxy industrial floor coatings as it offers better adhesion properties, flexibility, and excellent mechanical strength.
By Flooring Material:
Among the flooring material segments, the concrete segment is expected to account for higher revenue share as compared to other segments. The terrazzo segment is projected to register significant growth rate over the forecast period, owing to its prominent features such as cost-effectiveness, easy maintenance, and high durability.
Among the segments based on component, the double component segment is expected to account for major revenue share in the target market. Double component industrial floor coatings offer resistance against chemicals, mechanical, and bacterial elements.
Among the application segments, the manufacturing segment is projected to account for dominant revenue share in the global market and is projected to maintain a dominant position over the forecast period. The food processing application segment is expected to register significant growth rate in the next 10 years.
The Asia Pacific market is expected to account for major share in terms of revenue in the global industrial floor coatings market. This major share can be attributed to rising demand for surface finishing products from various industrial verticals, coupled with rapid industriliazation in countries such as China, India, and South Korea, and rising consctruction activities resulting in rising need for floor coatings in non-residential sectors. The North America market is expected to account for considerable revenue share in the global market, owing to rapidly growing end-use industries, presence of prominent players in the target market in countries in the region. The Europe industrial floor coatings market is expected to register moderate CAGR over the next 10 years, owing to increasing adoption of industrial floor coatings in commercial buildings such as for parking areas, office areas, food departments, etc. The industrial floor coatings markets in Middle East & Africa and Latin America are also expected to register moderate growth rate over the forecast period, due to increasing focus of manufacturers of various industries to build manufacturing units in developing or under-developed regions.
Global Industrial Floor Coatings Market Segmentation:
Segmentation, by Product Type:
- Epoxy Cementitious
- Methyl Methacrylate
Segmentation, by Flooring Material:
Segmentation, by Component:
Segmentation, by Application:
- Food Processing
- Aviation & Transportation
Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2017 Estimated Year 2018 Forecast Period 2018–2028 Revenue in US$
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- BASF SE
- RPM International Inc.
- 3M Company
- The Dow Chemical Company
- Koninklijke DSM N.V.
- The Lubrizol Corporation
- Asian Paints PPG Pvt. Limited
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