Industrial Floor Coating Market Analysis | 2023-2028

Market Insights

"The industrial floor coating market was estimated at USD 5.41 billion in 2022 and is likely to grow at a CAGR of 5.12% during 2023-2028 to reach USD 7.33 billion in 2028".

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Market Dynamics

Introduction

Industrial floor coating is a liquid, transparent material that is applied over the floor, which hardens when dried to provide a walking surface. It is defined as a thin layer of coating on the floor structure to protect the floor from exposure and harmful chemicals. Industrial floor coating contributes to the aesthetic appeal and provides anti-skid and abrasion protection.

These coatings provide resistance to abrasion and chemicals and offer maintenance, repair, and protection solutions for a wide range of flooring requirements in commercial and industrial sectors. Industrial floor coatings also offer sustainable solutions to improve the performance of the floors in the commercial and industrial buildings by increasing the durability of concrete and other flooring materials.

Market Drivers

The prime factor contributing to the demand for industrial floor coatings is mainly the high growth of industrial and commercial construction industries across the world. Advantages of industrial floor cleaning products such as low maintenance cost, moisture resistance, corrosion resistance, and cost effectiveness are the other factors that are driving the growth of the market. Increasing demand for industrial floor coating products from manufacturing, aviation, and transportation sectors is also propelling the market growth.

Segments Analysis

By Resin Type

"The epoxy segment held the largest share of the market in 2022, and is expected to remain dominant during the forecast period".

• The market is segmented as epoxy, polyurethane, hybrid, and others.
• Superior properties such as excellent adhesion, high mechanical strength, and improved chemical resistance are benefitting its rising demand in the manufacturing sector.

By Application Type

"The manufacturing segment dominates the market during the forecast period".

• The industrial floor coating market is segmented as manufacturing, food processing, aviation & transportation, warehousing, and others.
• The manufacturing segment dominates the market, owing to rapid industrialization in emerging economies offering attractive opportunities to increase production capacity.

Regional Analysis

"Asia-Pacific is estimated to be the largest market for industrial floor coating products during the forecast period".

• China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is mainly driven by the growing construction and manufacturing sectors in the major economies of the region. Strong presence of manufacturing companies in the region is stimulating the product demand. Numerous applications of industrial floor coatings in food processing, heavy equipment & machinery, logistics & warehouse, and chemical industries is boosting the further growth of the region.

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Key Players

The following are the key players in the Industrial Floor Coating Market (arranged alphabetically).

• AkzoNobel N.V.
• Asian Paints PPG Pvt. Ltd.
• Axalta Coating Systems Ltd.
• BASF SE
• PPG Industries, Inc.
• RPM International Inc.
• The 3M Company
• The Daw Group
• The Dow Chemical Company
• The Lubrizol Corporation
• The Sherwin-Williams Company

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the resin types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.