Summary
Major players in the industrial floor coating market are PPG Industries Inc., AkzoNobel N.V., The Sherwin-Williams Company, A&I Coatings, The Dow Chemical Company, Asian Paints PPG Pvt Ltd., Nora system Inc., RPM International, The Daw Group, CPC Floor Coatings, Cipy Polyurethanes Pvt. Ltd., Apurva India Private Limited, Armorpoxy, Axalta Coating Systems Ltd., Conren Ltd., Florock Polymer Flooring, Grand Polycoats, Michelman Inc., and Rpm International Inc.
The global industrial floor coating market grew from $5.19 billion in 2022 to $5.5 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The industrial floor coating market is expected to grow to $6.84 billion in 2027 at a CAGR of 5.6%.
The industrial floor coating market consists of sales of industrial floor coating products such as acrylic resin and polymer coating.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Floor coatings are tough, protective layers used in applications where heavy surface wear or corrosion is expected.Typical applications include chemical plants, warehouses, and manufacturing floors.
Floor coatings are also used to brighten or define areas of facilities.
Asia-Pacific was the largest region in the industrial floor coating market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the industrial floor coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of industrial floor coatings made of resin are epoxy, polyurethane, hybrids, and others.Due to the strong adhesive properties of epoxy, it is used in structural and engineering applications.
Epoxy resin is commonly used in the construction of vehicles, aircraft, snowboards, and bicycles.By floor material, the market is segmented into concrete, mortar, terrazzo, and others.
By technology, the market is segmented into water-borne and solvent-borne.By component, the market segments are one-component, two-component, three-component, and four-component.
Major end-use sectors of industrial floor coating include manufacturing, aviation and transport, food processing, science and technology, and others.
The industrialization of floor coatings globally is significantly contributing to the growth of the industrial floor coating market.Industrial floor coatings are designed to meet the highest industry standards in chemical and corrosion resistance.
These coatings are used in chemical plants, warehouses, and manufacturing floors.For instance, Asian countries are expected to invest $9 trillion in infrastructure development for industrialization and urbanization.
So, growing industrialization will drive the industrial floor coating market.
New product launches are a key trend in the industrial floor coating market.Companies are launching innovative and improved coating products to increase their customer base and revenues.
For example, in 2021, Sika Group, a Swiss specialty chemical company, launched a new technology for ESD coatings.Sikafloor®-2350 ESD is a protective dissipative self-leveling system for concrete or cement screeds that is especially suitable for areas with low electrostatic charge requirements.
In 2021, Unilin Technologies launched the Unicoat waterproof coating for flooring.
In January 2022, Milburn Flooring, a US-based provider of commercial flooring acquired Blendex Industrial Corporation for an undisclosed amount.With the acquisition, Milburn Flooring is anticipated to provide value for both new and existing customers while also broadening its service offerings and installation capabilities.
Blendex Industrial Corporation is a US-based provider of flooring solutions for industrial and commercial applications.
The countries covered in the industrial floor coating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The industrial floor coating research report is one of a series of new reports that provides industrial floor coating statistics, including industrial floor coating industry global market size, regional shares, competitors with industrial floor coating shares, detailed industrial floor coating segments, market trends and opportunities, and any further data you may need to thrive in the industrial floor coating industry. This industrial floor coating research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
