Industrial Floor Coating Market Overview
Market Research Future (MRFR) predicts a highly lucrative run for the global industrial floor coating market during the forecast period (2016-2022), at a robust growth rate.
A&I Coatings Pty Ltd (Australia), 3M Company (U.S.), CPC Floor Coatings (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Nora Systems, Inc. (Germany), PPG Industries Inc. (U.S.), Asian Paints PPG Pvt Ltd. (Mumbai), and others.
Swiss chemicals company Sika has started with the production of concrete admixtures in Doha. The company expects to benefit from having its own production capacity on a local basis, which will enable it to bring down its transportation costs, in addition to getting close to its customers.
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Industrial Floor Coating Market Promoters and Prime Barriers
Presence of beneficial macroeconomic conditions combined with the surge in industrialization in developing nations is set to leave a lucrative effect on the industrial floor coating market. The Asia Development Bank reports that various Asian countries are projected to invest USD 9 trillion for the development of infrastructure from 2010 to 2020. This investment, along with various other initiatives taken by organizations as well as governments, will help transform the entire industrialization and urbanization space, thus increasing the number of manufacturing facilities. This factor is assessed to be crucial for market growth in the years ahead.
Apart from this, industrial floor coating finds widespread use in food and beverage processing facilities for maintaining the purity, quality, and hygiene. The growth in urbanization has brought about a massive change in consumption patterns. Besides, mounting disposable income is making processed foods far more affordable than ever before. This is slated to facilitate the product demand in the food processing industry and create opportunities for the market in the future.
Epoxy is one of the prominent industrial floor coatings in the global market, generating massive revenues based on its high demand across various industries. This product is utilized as surface coatings in the food and beverage industry, warehouses and manufacturing facilities, on account of its excellent resistance against hot tire pickups, heavy impact as well as abrasion. On top of this, easy installation, low maintenance, and durability are other significant factors attracting consumers towards epoxy-based floor coating.
Industrial Floor Coating Market Opportunities
Reports suggest that double-component products account for more than 50% of the total market share. The high level of tolerance for friction has driven the popularity of the product within the manufacturing sector. Double-component products are considered ideal for facilities that have heavy pedestrian and vehicle traffic. It also offers easy clean up along with resistance against chemical, bacterial, and mechanical elements. The intensifying demand for double-component products is bound to furnish the industrial floor coating market with lucrative opportunities in the ensuing years.
Industrial Floor Coating Market Segmentation
The worldwide market for industrial floor coating has been segmented with respect to flooring material, and application.
The flooring material segment is sub-segmented into concrete, mortar, and terrazzo. Concrete-based flooring material contributes to the substantial portion of the overall market for industrial coatings. The increasing awareness level among consumers with respect to the shortcomings of concrete floors like difficulty in cleaning, weakening of reinforcement, dust accumulation, microbial growth, cracking, has resulted in the high demand for concrete-based surface coating.
Application-based segments in the global market include residential, commercial, and industrial.
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Industrial Floor Coating Marke Regional Insights
The worldwide market for Industrial Floor Coating Market is split into the key regions of Asia Pacific, Europe, North America, along with the rest of the world (RoW).
In addition to being the fastest-expanding market, Asia Pacific also boasts of being the largest market in the global industrial floor coating market. The advancing number of construction activities along with the rapid industrialization within the emerging nations like India and China is bringing favorable results for the regional market. Also, supportive foreign-direct-investment norms and massive government investments for the expansion of the manufacturing sector in the region is slated to benefit the market. The region also profits from the availability of cheaper-priced raw materials as well as labor, enhancing its appeal as a manufacturing hub.
North America market notes a spate of technological advancements in educational and commercial industries. The high growth trajectory of the regional market is due to the rising importance of terrazzo in the region. Industrial floor coating experiences strong demand from hospitals, schools, government buildings, and commercial buildings in the region, expanding the market size in the process.
The Europe industrial floor coatings market is marked by the existence of renowned industrial floor coatings manufacturers like Dow Chemical, AkzoNobel and BASF. Moreover, mounting demand from both regional and international markets for substantial industrial output, including chemical, food, and automotive will create profitable avenues for the market in the years to come.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
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