Industrial Floor Coating Global Market Overview:
Concrete floor erosion naturally occurs on unprotected flooring that withstands the daily wear and tear of manufacturing, such as heavy machinery, chemical spills, impacts, and excessive heat. With time, these harsh conditions may require to replace completely the concrete floor, which can be detrimental to the budget. Eroded, rough concrete isn’t the easiest to clean either, which creates a slew of environmental and sanitation issues in a plants’ production and process areas. Cracks and crevices in a floor caused by concrete erosion can harbor harmful bacteria, which may create problems with governing agencies that inspect the plant. These problems can be alleviated by installing a smooth and protective industrial floor coating system in the production and process areas.
Industrial Floor Coating Global Market Key Players:
Profiled in MRFR Analysis some of the major players operating in the market of global industrial floor coating market are BASF SE (Germany), Asian Paints PPG Pvt. Ltd. (Mumbai), PPG Industries Inc. (U.S.), 3M Company (U.S.), A&I Coatings Pty Ltd (Australia), Nora Systems, Inc. (Germany),The Dow Chemical Company (U.S.) and CPC Floor Coatings (U.S.).
The Industrial Floor Coating Market appears to be highly competitive owing to the presence of numerous well-established vendors. The vendors compete in terms of price, quality, branding, and customer service. Since product differentiation is low and a wide range of similar products are available in the market, vendors aim to enhance the brand recall of their products among consumers through effective marketing communications. The Industrial Floor Coating Market demonstrates a high potential growth due to which several new entrants are expected to get attracted to this market during the anticipated period.
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Industrial Floor Coatings provide sustainable solutions to enhance the performance of floors in industrial and commercial facilities by increasing the durability of concrete and other flooring materials. Benefits such as easy movability and ease of maintenance are some of the factors which appeal to customers and also ensuring great finishing. This has raised the trends of floor coating and has also increased the preference of environment friendly products which is sustainably harvested, recycled or reclaimed sources.
According to a recent study report published by the Market Research Future, the global market for Industrial Floor Coating is estimated to witness an outstanding growth by 2022, in terms of value with a stunning CAGR; surpassing its previous growth records by the end of the forecasted period (2016 – 2022).
Expansion of industrial activities and improving economic conditions majorly drive global industrial flooring market. Moreover, high quality products are driving the global industrial flooring coating market. Additionally, properties such as waterproofing, slip resistance, puncture resistance, microbial protection, and decorative finish are pushing the market towards growth. This is backed by rapid industrialization in emerging economies such as India and China and increase in the number of production facilities which are creating growth opportunities for the industrial floor coating market. However, lack of awareness about industrial floor coating among end-users acts as a barrier for the market.
Industrial Floor Coating Global Market Segmentation:
Industrial Floor Coating Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation on the basis of Flooring Material : Comprises Concrete, Mortar, Terrazzo, and others.
Segmentation on the basis of Application : Comprises Residential, Commercial, and Industrial and others.
Segmentation on the basis of Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
The concrete segment led the demand for flooring material in industrial floor coating in 2015 and is projected to grow at the highest CAGR during 2016 – 2022. Cost-efficiency and superior durability are the driving factors for the growing demand for concrete flooring. The ability to withstand high temperature and abrasion is also influencing the growing application of concrete flooring material in the industrial facilities.
Industrial Floor Coating Market Regional Analysis:
Asia-Pacific is the fastest and largest growing nature due to rise in the number of construction activities and the increase in industrialization in emerging economies such as China and India. Moreover, offering joint-free and seamless finish to avoid cracks or crevices that harbor dust, dirt and bacteria, is another factor contributing to the market growth.
The Asia-Pacific region is projected to register the highest CAGR globally, between 2016 and 2022. India accounted for the largest market for industrial floor coating in the Asia-Pacific region, in 2015. The Indian market is projected to grow at the highest CAGR during the forecast period, whereas China accounted for the largest share in the industrial floor coating market in 2015. Rapid industrialization in the region as well as growth in a number of commercial structures in China, Indonesia, and India is driving the growth of the Asia-Pacific industrial floor coating market. Also, there are less stringent norms and standards for safety and environmental compliance along with easy availability of cheap labor, which is attracting major players across diverse industries to set up production facilities in these countries.
North America market has seen technological advancements in commercial and educational industries. By material type, Terrazzo has gained importance owing to its significant properties such as high-durability, cost effectiveness, hygiene and easy maintenance. The product shows higher demand from schools, hospitals, commercial buildings and government buildings
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- Product matrix which gives a detailed comparison of the market for different recycled product types
- Regulatory Landscape
- Pricing Analysis
- Macroeconomic Indicators
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