Industrial Floor Coating Market: Overview
Industrial floor coating is a liquid substance applied on the floor. These turn into hard substances when dry, thereby providing walking surface. Industrial floor coatings offer resistance to abrasion, chemicals, etc. The trend of using seamless flooring is gaining prominence in the industrial floor coating market.
Industrial Floor Coating Market: Key Segments
The global industrial floor coating market can be segmented based on binder type, flooring material, coating component, end-user, and region. In terms of binder type, the global industrial floor coating market can be classified into epoxy, polyaspartic, and others (including acrylic and polyurethane). The epoxy segment is expanding significantly, as epoxy binders possess attributes such as high adhesion, flexibility, and solvent resistance. Based on flooring material, the global industrial floor coating market can be divided into concrete, mortar, and terrazzo. The concrete segment dominates the market, led by its easy installation process, cost efficiency, durability, and high tensile strength. In terms of coating component, the global industrial floor coating market can be categorized into one-component, two-component, three-component, four-component, and five-component. The four-component segment leads the industrial floor coating market owing to its features such as, smooth, hygienic, and easy clean floor finishing. Based on end-user, the global industrial floor coating market can be divided into manufacturing, aviation & transportation, food processing, science & technology, and others. The others segment includes hospitality, healthcare, and fire & public safety industries. The manufacturing segment is gaining momentum due to the rise in production plants and increase in industrialization in emerging economies.
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Industrial Floor Coating Market: Trends & Developments
The industrial floor coating market is expanding significantly owing to the increase in demand for these coatings in the food processing industry. Additionally, rapid growth in urbanization and increase in government initiatives to provide improved manufacturing facilities in emerging economies are boosting the industrial floor coating market. Rise in demand for chemical resistant and tensile strength flooring is propelling the global industrial floor coating market. However, high cost of raw materials and implementation of stringent government regulations on usage of these coatings in the food industry are hampering the global industrial floor coating market. Nevertheless, rise in infrastructure and commercial construction is creating opportunities for the global industrial floor coating market.
Industrial Floor Coating Market: Regional Outlook
Based on region, the global industrial floor coating market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to account for the major share of the global industrial floor coating market during the forecast period due to the rise in industrialization and commercialization is emerging economies such as China, India, Vietnam, and Malaysia. North America and Europe hold significant share of the industrial floor coating market owing to the high demand for these coatings in aviation & transportation and food processing industries. The global industrial floor coating market in Latin America is anticipated to expand substantially owing to the increase in urbanization and commercialization activities.
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Industrial Floor Coating Market: Key Players
Key players operating in the global industrial floor coating market include PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., BASF SE, RPM International Inc., 3M Company, The DOW Chemical Company, Koninklijke Dsm N.V., The Lubrizol Corporation, Asian Paints PPG Pvt. Ltd., Florock Polymer Flooring Systems, Nora System, Inc., Maris Polymers Sa, Plexi-Chemie, Inc., and Grand Polycoats.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
· Customer Experience Maps
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· Actionable Results to meet all the business priorities
· Strategic Frameworks to boost the growth journey
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
· North America
· Asia Pacific
· Europe
· Latin America
· The Middle East and Africa
The sustainability aspects have dramatically changes the raw material sourcing strategies for many businesses in the Floor Coatings market. Players have become more responsible toward reducing or managing the waste, are adopting material informatics equipped with artificial intelligence (AI), and adopting energy-efficient production processes in order to maximize returns on invested capital.
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