The growth of the market is governed by various factors such as growing demand for durable and efficient flooring
The Industrial Floor Coating Market is expected to reach USD 9.70 billion by 2027, according to a new report by Reports and Data. Industrial Floor Coating Market is driven principally by the manufacturing industry. Construction activities led by developing economies across the world will further boost the growth of the market. Increasing awareness concerning the floor coatings due to dust resistant, durable, abrasion-resistant, and waterproof features is encouraging the market demand. Emerging end-use industries, driving to the expansion of manufacturing plants and facilities is further promoting market growth. Accelerated industrialization, the growing trend for long-lasting yet aesthetic floor across manufacturing plants, factories, warehouses, and equipment units are also contributing the market growth.
The market in the APAC region is expected to witness the highest CAGR of 7.4% during the forecast period. Various applications including heavy equipment machinery, food processing, logistics warehouse, and chemical industries, are majorly increasing the market share.
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Top Companies: Axalta, PPG Industries, Kansai Paints, BASF, Sherwin-Williams, Akzo Nobel, 3M, Nora System, Florock Polymer, Roto Polymers, Tambour and Maris Polymers.
Further Key Finding from the Report Suggestion:
- The Industrial Floor Coating Market is estimated to reach USD 9.70 billion by 2027, at a CAGR of 7.1% during the forecast period.
- Floor coatings work as a sealer on the concrete. The use of coating aids avoid staining, seepage, and cracking of concrete.
- Additionally, it decreases allergens by limiting the growth of microorganisms, which may form on the floor due to leakage or spillage.
- The four component type accounts for the largest share of 30.7% of the market in 2019.
- The polyaspartic material is anticipated to grow at the highest rate of 7.9% during the forecast period.
- The food processing application segment is anticipated to grow at the highest rate of 7.4% during the forecast period.
- The mortar floor cover is anticipated to grow at the highest rate of 8.1% during the forecast period.
- Increasing construction activities in developing economies is also an essential factor fueling the market.
- North America region accounts for the largest share of 30.3% of the market in 2019. Due to the increased production capacities of dominant companies in the region drives the growth. Technological progress in the manufacturing sector due to more eminent automation for the material movement and excellent transportation are among crucial factors propelling the demand for surface finishing products.
- Government prevailing regulatory norms for food and beverage manufacturing firms mandating enhanced hygienic standards in the facilities across the region is actively encouraging market growth.
- Asian countries are anticipated to invest USD 9 trillion in support of development between 2010 and 2020. A significant share of these investments is expected to be allocated in production industries to promote the needs of the increasing population, kindling the business growth over the forecast period.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Industrial Floor Coating market is segmented into:
Material Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- Epoxy
- Polyaspartic
- Others
Component Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- One-Component
- Two-Component
- Three-Component
- Four-Component
- Five-Component
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- Manufacturing
- Food Processing
- Aviation Transportation
- Science Technology
- Others
Floor Cover Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- Concrete
- Mortar
- Terrazzo
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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