Analysis on the World's $6.8B Industrial Floor Coating Market, 2024 - Increase in Industrial & Commercial Constructions, Rise in Demand for Bio-Based Floor Coatings

DUBLIN, Jan. 29, 2020 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.

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

1 Introduction

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
5.2.1.1 Increase in Demand to Protect Concrete Floors in Industrial and Commercial Facilities
5.2.1.2 Rapidly Increasing Industrialization in Developing Countries
5.2.2 Restraints
5.2.2.1 High Prices of Raw Materials and Energy
5.2.3 Opportunities
5.2.3.1 Increase in Industrial and Commercial Constructions
5.2.3.2 Rise in Demand for Bio-Based Floor Coatings
5.2.4 Challenges
5.2.4.1 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
6.1.1.1 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
7.1.1.1 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

9 Industrial Floor Coating Market, By Technology
9.1 Introduction
9.2 Water-Borne
9.3 Solvent-Borne

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

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