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I AgreeAnalysis of Industrial Floor Coatings market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to Fact.MR’s analysis, the market for industrial floor coatings is expected to reach nearly US$ 7 billion by 2031, expanding at a CAGR of around 3% throughout the forecast period.
Based on binder, epoxy industrial floor coatings are expected to generate over half of total demand, reaching a value of more than US$ 4 billion by 2031. The segment is projected to expand at approximately 4% CAGR.
Demand for industrial floor coatings is expected to remain especially high across the manufacturing industry, which is anticipated to expand at a volume CAGR exceeding 5% throughout the 2021-2031 forecast period.
The U.S. is expected to generate a significant chunk of global industrial floor coating demand, valued at over US$ 1 billion in 2020, amid extensive uptake across key manufacturing sectors such as building & construction. China is also expected to emerge as a key investment destination, with the market projected to expand at over 6% CAGR until 2031.
3M Company, A&I Coatings, Akzo Nobel N.V, PPG Industries, BASF SE, Grand Polycoats, Florock Polymer Flooring, and Ardex Endura (India) Pvt. Ltd. are prominent industrial coating manufacturers profiled in Fact.MR’s report.
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From 2016 to 2020, demand for industrial floor coatings expanded at under 5% CAGR to reach around US$ 6 billion. Sales have exhibited an especially high trends across key industrial hubs such as China, the U.S and other Asian economies, attributed to heavy industrialization experienced in the past few years.
Amid the COVID-19 pandemic, the industrial floor coatings market declined to be valued at a little over US$ 5 billion in 2020, as abrupt cessation of manufacturing activities led to significant shortfalls in industrial production across key verticals. Fortunately, demand for bio-based coatings is likely to open up ample expansion opportunities, prompting an expansion rate of over 3% CAGR to reach nearly US$ 7 billion by 2031.
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As industrialization expands, factory owners are experiencing increased maintenance costs, as manufacturing operations become increasingly complex. Fulfilling the ever widening demand across key industries is prompting units to function for elongated hours.
Hence, workers are expected to be ever present at the manufacturing site, putting significant strain on industrial floors. Hence, investments in high grade industrial floor coatings is increasing to enhance its life, with epoxy based coatings being in high demand.
Rapid industrialization is influencing growth in industrial constructions, particularly in emerging economies. The increasing penetration of bio-based floor coatings owing to growing environmental concerns among end users is expected to generate potential opportunities for major manufacturers.
Adoption of bio-based materials in floor coating will experience major upswing, amid their ease in coating installation, allowing floor usage within a limited time after the coating process. Various players are entering global coalitions with existing manufacturers and government entities to further their bio-based industrial coatings product portfolios.
Industrial floor coating demand value across the U.S. surpassed US$ 1 billion as of 2020. Growth is especially strong across the manufacturing sector of the country.
As per the National Association of Manufacturers (NAM), the manufacturing industry accounts for nearly 12% of the total domestic output, being valued at over US$ 2 billion in 2018, employing over 12 million people. Hence, key industries are investing in adequate infrastructure solutions to ensure workers’ safety, thus inclining demand for industrial floor coatings.
China’s prospects in industrial floor coatings appear quite bright, with an anticipated growth of 6% CAGR until the end of the forecast period. Attributed to the country’s dominant position in the global manufacturing sector, leading industries are investing in quality infrastructure, generating high demand.
According to the Workplace Safety Law enacted in 2014, employers in China must protect workers from accidents in the workplace, such as fire hazards and accidental spills. Industrial floor coatings help in this regard by offering spill proof and fire proof flooring.
By binder, epoxy industrial floor coatings are expected to comprise over 50% of total revenue, expanding at approximately 4% CAGR to reach more than US$ 4 billion by 2031. High durability and ability to withstand heavy loads is a major reason behind its uptake.
Furthermore, epoxy industrial floor coatings are highly impervious to water, thereby reducing the risks of slip and fall accidents. Furthermore, it is a highly cost effective solution as it is economically priced.
The manufacturing sector is expected to generate high demand for industrial floor coatings, poised to expand at over 5% CAGR based on volume through 2031. Rapid globalization and surging trade volumes have spurred swift industrialization, broadening the manufacturing sector.
Key industries such as oil & gas, paper & paperboard, textile manufacturing, chemicals production, electrical & electronics and primary metals are highly labor intensive, requiring extensive deployment of safe factory infrastructure, thus catapulting demand for industrial floor coatings.
Prominent industrial floor coating manufacturers depend on such prominent expansion strategies as mergers & acquisitions, introducing new product portfolios, strategic collaborations, and capacity building initiatives to enhance market footprint. Some notable developments are as follows:
*This list is indicative- full details about prominent market players is available upon request.
Attribute |
Details |
Forecast Period |
2021-2031 |
Historical Data Available for |
2016-2020 |
Market Analysis |
US$ Mn for Value & ‘000 Units for Volume |
Key Regions Covered |
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Key Countries Covered |
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Key Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
Binder Type
End Use
Region
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The market for industrial floor coatings is expected to reach nearly US$ 7 billion by 2031, expanding at a CAGR of around 3% throughout the forecast period.
Based on binder, epoxy industrial floor coatings are expected to generate over half of total demand, reaching a value of more than US$ 4 billion by 2031. The segment is projected to expand at approximately 4% CAGR.
Demand for industrial floor coatings is expected to remain especially high across the manufacturing industry, which is anticipated to expand at a volume CAGR exceeding 5% throughout the 2021-2031 forecast period.
The U.S. is expected to generate a significant chunk of global industrial floor coating demand, valued at over US$ 1 billion in 2020, amid extensive uptake across key manufacturing sectors such as building & construction.
3M Company, A&I Coatings, Akzo Nobel N.V, PPG Industries, BASF SE, Grand Polycoats, Florock Polymer Flooring, and Ardex Endura (India) Pvt. Ltd. are prominent industrial coating manufacturers profiled in Fact.MR’s report.