Industrial Floor Coatings Market Is Estimated At US$ 5.5 Billion In 2023

The global industrial floor coating market is forecast to reach a valuation of around US$ 7Bn by 2031, rising at a CAGR of approximately 3% during the assessment period 2021-2031.

Increasing industrialization in the developed economies is a key factor driving demand for industrial floor coatings.

Due to the outbreak of COVID-19 pandemic, the industrial floor coatings registered tepid growth, nonetheless the market's valuation stood at around US$ 5Bn in 2020. Thanks to the increasing incorporation of bio-based floor coatings, the market is poised to expand at a positive rate during the forecast period.

Rapid adoption of bio-based floor coatings can be attributable to increasing environmental concerns. Rising focus on sustainable solutions will emerge as a chief growth driver in the coming years.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=6250?PS

The manufacturing sector is anticipated to garner high requisition for industrial floor coatings and is forecast to post a CAGR of over 5% CAGR based on volume over the assessment period. Increasing internalization and trade volumes have been encouraging manufacturing sector growth. This will in turn fuel scope for industrial coatings applications.

Epoxy coatings are widely used in the commercial and industrial sectors for coating concrete floors. Key properties of epoxy coatings such as impact resistance, abrasion resistance and chemical resistance are fueling their demand across various end- user sectors.

The demand for epoxy industrial floor coatings is poised to expand at a CAGR of approximately 4% and reach at a market valuation of US$ 4 Billion by the end of 2031.

"Companies operating in the market are swayed by the increasing demand on sustainable solutions by consumers. Consequently, there is high focus on manufacturing bio-based industrial coatings," said a lead analyst at Fact.MR

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬:

• China Industrial Floor Coatings Market is anticipated to grow at a CAGR of nearly 6% over the forecast period 2021-2031. The market will be driven by investing in quality infrastructure by leading manufacturers.
• Increasing demand for green buildings in countries such as India, Australia, China is expected to create lucrative opportunities for the market over the assessment period.
• The U.S. Industrial Floor Coatings Market is expected to emerge as a leading market, surpassing a valuation of US$ 1 Bn in 2020.
• Epoxy Industrial floor coatings are gaining traction owing to their increasing durability and ability to withstand heavy loads.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

Increasing construction expenditure across the globe is driving growth of industrial floor coatings market
Rising demand for bio-based industrial coatings will guarantee growth in the near future.
Focus on safeguarding concrete floors in commercial and industrial facilities is propelling the market growth.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

Some of the key players operating in the industrial floor coatings market profiled by Fact.MR are 3M Company, A&I Coatings, Akzo Nobel N.V, PPG Industries, BASF SE, Grand Polycoats, Florock Polymer Flooring, and Ardex Endura (India) Pvt. Ltd.

The leading players operating in the market are aiming at increasing their market share by adopting different strategies such as joint ventures, partnerships, new product launches .They are also engaging in forming strategic alliances, merger and acquisitions to broaden their global reach.

𝐅𝐨𝐫 𝐢𝐧𝐬𝐭𝐚𝐧𝐜𝐞,

In May 2021, BASF Refinish Coatings partnered with its industry confederates 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 aid it produce more eco-friendly industrial floor coatings.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=6250?PS

𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐅𝐥𝐨𝐨𝐫 𝐂𝐨𝐚𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭

Fact.MR, in its new report, offers an unbiased analysis of the global Industrial Coating Market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in industrial floor coating market on the basis of various criteria. These include:

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

𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐈𝐧 𝐓𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭

How will industrial floor coatings sales expand until 2031?
Which is likely to be the most promising market for industrial floor coatings?
Which region is the most prominent growth contributor for industrial floor coatings?
Which floor coating product is expected to generate most revenue?
What are the key restraints for floor coating market?

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About Fact.MR

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This release was published on openPR.