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 Compound Annual Growth Rate (CAGR) of 4.6% from 2019 to 2024.
Increase in the industrial and commercial construction is projected to drive the overall growth of the industrial floor coating market across the globe from 2019 to 2024.
The global industrial floor coating industry has witnessed high growth primarily because of the increasing industrial construction worldwide. Industrial expansion in the emerging economies and increasing need to protect floors from chemical attack as well as environmental conditions is another key factor contributing towards the increasing growth of the industrial floor coating sector over the next few years.
In terms of both value and volume, the epoxy segment is projected to grow at the highest CAGR during the forecast period.
The epoxy segment of the industrial floor coating market is projected to grow at the highest CAGR during the forecast period, in terms of value as well as volume. The unique combination of adhesion, chemical resistance, and physical properties of epoxy provides high protection to industrial floors against severe corrosive environments. Further, it is extensively used for flooring applications in industrial facilities such as refineries, chemical plants, and production.
In terms of both value and volume, the concrete segment is projected to lead the industrial floor coating market from 2019 to 2024.
Growth of concrete segment in the industrial floor coating industry is primarily attributed to various factors, such as its low cost, superior durability, and tensile strength. Coatings protect concrete floors from degradation due to contamination and also prevent the growth of microbes on the floor surfaces. It also provides concrete flooring with excellent chemical resistance, ease of maintenance, enhanced aesthetic appeal, and superior structural performance.
The food processing segment is projected to lead the industrial floor coating market from 2019 to 2024.
Floors in the food processing sectors are exposed to food by-products, such as sugar solution, hot oils, fats, and natural food acids which can cause damage to the flooring because of their corrosive nature. It can infiltrate uncoated concrete floors, resulting in bacterial growth, ultimately degrading the quality and purity of processed food. Floors in the food processing facilities are likely to provide harborage to pests, especially in the joints of walls and floors. To avoid these consequences, the food processing industry needs to apply floors coatings in their processing facilities, which in turn boost the demand for industrial floor coatings in this sector.
In terms of both value and volume, the Asia Pacific industrial floor coating market is projected to contribute to the maximum market share during the forecast period.
In terms of value, the Asia Pacific region is projected to lead the global market from 2019 to 2024 due to the strong demand from countries such as China, Australia, India, Japan, and South Korea. This demand in these mentioned countries is due to the tremendous growth of the industrial construction opportunities in these countries, due to the low-cost labor and cheap availability of lands. The demand is also driven by the increasing industrial, infrastructural & construction, marine, and automotive industries.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Emerging Economies to Witness A Relatively Higher Demand for Industrial Floor Coating 4.2 Asia Pacific: Industrial Floor Coating Market, By Resin Type & Country 4.3 Industrial Floor Coating Market, By Resin Type 4.4 Industrial Floor Coating Market, By Flooring Material 4.5 Industrial Floor Coating Market, By End-Use Sector 4.6 Industrial Floor Coating Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 22.214.171.124 Increase in Demand to Protect Concrete Floors in Industrial and Commercial Facilities 126.96.36.199 Rapidly Increasing Industrialization in Developing Countries 5.2.2 Restraints 188.8.131.52 High Prices of Raw Materials and Energy 5.2.3 Opportunities 184.108.40.206 Increase in Industrial and Commercial Constructions 220.127.116.11 Rise in Demand for Bio-Based Floor Coatings 5.2.4 Challenges 18.104.22.168 Stringent Environmental Regulations Enforced By Governments
6 Industrial Floor Coating Market, By Resin Type 6.1 Introduction 6.1.1 Industrial Floor Coating Market, By Resin Type 22.214.171.124 Epoxy Segment Accounted to Be the Majorly Consumed Resin Type in the Industrial Floor Coating Market 6.2 Epoxy 6.3 Polyurethane 6.4 Hybrid 6.5 Others
7 Industrial Floor Coating Market, By Flooring Material 7.1 Introduction 7.1.1 Industrial Floor Coating Market, By Flooring Material 126.96.36.199 The Concrete Segment Accounted to Be the Most Consumed Flooring Material in the Industrial Floor Coating Market 7.2 Concrete 7.3 Mortar 7.4 Terrazzo 7.5 Others
8 Industrial Floor Coating Market, By Component Type 8.1 Introduction 8.2 One-Component 8.3 Two-Component 8.4 Three-Component 8.5 Four-Component 8.6 Five-Component
10 Industrial Floor Coating Market, By End-Use Sector 10.1 Introduction 10.1.1 Industrial Floor Coating Market, By End-Use Sector 10.1.1.1 Food Processing Segment to Be the Fastest-Growing End-Use Sector in the Industrial Floor Coating Market 10.2 Manufacturing 10.3 Aviation & Transportation 10.4 Food Processing 10.5 Science & Technology 10.6 Others
11 Industrial Floor Coating Market, By Region 11.1 Introduction 11.2 Asia-Pacific 11.3 North America 11.4 Europe 11.5 Middle East & Africa 11.6 South America
12 Competitive Landscape 12.1 Overview 12.2 Competitive Scenario 12.2.1 Acquisition 12.2.2 Expansion and Investment 12.2.3 New Product Development 12.2.4 Divestiture and Partnership 12.3 Microquadrant for Industrial Floor Coating Manufacturer 12.4 Industrial Floor Coating Market (Global) Competitive Leadership Mapping, 2019 12.4.1 Strength of Product Portfolio 12.4.2 Business Strategy Excellence
13 Company Profiles 13.1 PPG Industries, Inc. 13.1.1 Business Overview 13.1.2 Financial Assessment 13.1.3 Operational Assessment 13.1.4 Products Offered 13.1.5 Recent Developments 13.1.6 SWOT Analysis 13.1.7 Current Focus and Strategies 13.1.8 Threat From Competition 13.1.9 Right to Win 13.2 AkzoNobel N.V. 13.3 The Sherwin-Williams Company 13.4 BASF SE 13.5 RPM International Inc. 13.6 3M Company 13.7 Koninklijke DSM N.V. (DSM) 13.8 Axalta Coating Systems Ltd. 13.9 The DoW Chemical Company 13.10 The DaW Group 13.11 The Lubrizol Corporation 13.12 Asian Paints PPG Pvt. Limited 13.13 Other Players 13.13.1 CPC Floor Coatings 13.13.2 Ardex Group 13.13.3 Conren Ltd. 13.13.4 Mc-Bauchemie Muller GmbH & Co. KG 13.13.5 Armorpoxy 13.13.6 Polycote 13.13.7 A&I Coatings 13.13.8 Florock Polymer Flooring 13.13.9 Plexi-Chemie Inc. 13.13.10 Nora System, Inc. 13.13.11 Maris Polymers 13.13.12 Grand Polycoats 13.13.13 Milliken & Company 13.13.14 Michelman Inc. 13.13.15 Tambour 13.13.16 Pro Maintenance Inc. 13.13.17 Himfloor Sas 13.13.18 Remmers (UK) Ltd. 13.13.19 Rica Resine Srl 13.13.20 Apurva India Private Limited