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

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	North America Europe Asia Pacific Latin America Middle East & Africa
Key Countries Covered	U.S. Canada Germany France U.K. Spain Italy Russia China Japan India Australia South Korea GCC South Africa Brazil Mexico Argentina
Key Segments Covered	Binder End Use Region
Key Companies Profiled	3M Company A&I Coatings Akzo Nobel N.V PPG Industries BASF SE Grand Polycoats Florock Polymer Flooring Ardex Endura (India) Pvt. Ltd. Apurva India Private Limited ArmorPoxy Pro Maintenance Inc. Roto Polymers and Chemicals RPM International Inc. The Sherwin-Williams Company The Lubrizol Corporation Milliken & Company
Pricing	Available upon Request

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