Industrial Floor Coatings Market

Key Questions Answered in Report

• How much will demand for industrial floor coatings increase from 2021 to 2031?

  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.

• Which is likely to be the most prominent industrial floor coating category based on binder?

  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.

• Which will be the most prominent end user of industrial floor coatings as per Fact.MR’s report?

  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.

• Based on region, which are the most promising markets for industrial floor coatings?

  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.

• Which are the major industrial floor coating manufacturers presently operating within the market?

  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.

Report Also Addresses:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Industrial Floor Coatings and How to Navigate
• Recommendation on Key Winning Strategies

Industrial Floor Coating Demand from 2016 to 2020 Vs Future Projections for 2021 to 2031

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.

How is Increasing Demand for Robust Flooring Driving Industrial Floor Coating Adoption?

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.

Will Bio-based Industrial Floor Coatings Make a Breakthrough Over the Coming Years?

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.

Country-wise Analysis

What are the Growth Prospects for Industrial Floor Coatings across the U.S.?

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.

Is China Likely to Emerge as a Powerhouse 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.

Category-wise Insights

Why are Epoxy Industrial Floor Coatings Experiencing High Demand?

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.

How will the Manufacturing Sector Stimulate Industrial Floor Coatings Demand?

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.

Competitive Landscape

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:

• 3M Company has been offering the Scotchgard protector for hardwood floors, comprising of an additive-based stain protection technology for pre-finished hardwood flooring. It demonstrates excellent resistance to stains and dirt and is durable to traffic and cleaning.
• In April 2020, PPG Industries donated more than 290 grams of MASTER’s MARKTM, its range of antibacterial latex coatings to the Shanghai Tong Ren Hospital to be used across its medical laboratory, fever clinic, pressure isolation room and center of disease control.
• In May 2021, BASF Refinish Coatings collaborated with its industry partners across its value chain to jointly seek an optimal path to achieve the new VOC emission target, at its Annual Dealers Conference in China which will help it manufacture more eco-friendly industrial floor coatings.

*This list is indicative- full details about prominent market players is available upon request.

Report Scope

Key Market Segments Covered

• Binder Type

  • Epoxy Industrial Floor Coatings
  • Polyaspartic Industrial Floor Coatings

• End Use

  • Industrial Floor Coatings for Manufacturing
  • Industrial Floor Coatings for Aviation & Transportation
  • Industrial Floor Coatings for Food Processing
  • Industrial Floor Coatings for Other End Uses

• Region

  • North America
  • Europe
  • East Asia
  • South Asia
  • Latin America
  • Oceania
  • Middle East & Africa

Industrial Floor Coatings Market - Scope of Report

A recent study by Fact.MR on the industrial floor coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering industrial floor coatings.

The study also provides the dynamics responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing industrial floor coatings, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of industrial floor coatings across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of industrial floor coatings during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative markets for industrial floor coatings?
• Which factors will impact the growth of the market?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the industrial floor coatings industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units') and value (US$ Mn).

Market estimates at global and regional levels for industrial floor coatings are available in terms of “US$ Mn” for value and in “000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global industrial floor coatings market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the industrial floor coatings market during the forecast period.

Country-specific valuation on demand for industrial floor coatings has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of industrial floor coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering industrial floor coatings has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the industrial floor coatings market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.