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Industrial Floor Coating Market Analysis by End Use Industry (Aviation & Transportation, Manufacturing, Warehousing, Food Processing); Product (Epoxy, Polyurethane, Acrylic); Component (One, Two, Three); Flooring Material (Mortar, Terrazzo, Concrete) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

Buy Now Report ID: 4877 | Published Date: May 01, 2023

Global Industrial Floor Coating Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Industrial Floor Coating Market size is estimated to reach ~USD 17.37 Billion by the end of 2035 by growing at a CAGR of ~7.60% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of industrial floor coating was ~USD 7.21 Billion. The growth of the market can be attributed to the growing warehouse industry, followed by an increase in the number of warehouses. The industrial flooring provides a durable surface for the warehouse in order to avoid accidents. As per the reported data, the number of warehouses and storage reached to more than 2,000 in the year 2021.

In addition to these, factors that are believed to fuel the market growth of industrial floor coating include the rising importance given the construction industry to the strength of the flooring. Moreover, there has been surging demand for different products, such as epoxy owing to its low cost, and its ease of maintenance. Furthermore, the industrial floor coating handle the heavy impact of constant traffic, and provide resistance against the corrosive liquid.   Furthermore, the shifting trend of the industries towards floor protection is increasing the demand for industrial floor coating. In addition, there has been growing awareness among the end users related to the benefits of the floor coating, which is also expected to expand the growth of the market in the upcoming years.


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Global Industrial Floor Coating Market: Key Insights

 

Base Year

2022

Forecast Year

2023-2035

CAGR

~7.60%

Base Year Market Size (2022)

~ USD 7.21 Billion

Forecast Year Market Size (2035)

~ USD 17.37 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

 


Global Industrial Floor Coating Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Rapid Industrialization in Emerging Countries – There has been an increasing industrialization rate in emerging countries, which is improving the industrial infrastructure. Therefore, it is expected to boost the growth of the market by the end of 2035. According to the recent data, the industrial production rate increased by 4 percent in India on YoY in December 2022.
  • Surging Investment in Green Buildings- There has been a surge in the use of eco-friendly and lightweight materials in green buildings. Moreover, the concrete floor coating are designed to be eco-friendly, thus increasing demand among the green building projects. Hence, it is projected surge the growth of the global industrial floor coating market over the forecast period. According to the estimates, there were more than 100,000 green related buildings across the world in the year 2020.
  • Increasing Growth of Construction Industries– The growth of the construction industry in terms of residential, commercial, and industrial, is surging the demand for industrial floor coating. Therefore, it is anticipated to expand the growth of the market over the forecast period. The growth of urban land consumption outpaces population growth by up to 50%, adding 1.2 million km2 of new urban built-up area to the world by 2030.
  • Surging Use of Heavy Machinery in Automotive Industries– There is a presence of large and heavy machinery in the automotive industry in order to carry different parts of the cars. Moreover, the final product also needs heavy equipment in order to transfer the vehicle from the production area. Thus, the increasing production of vehicles is expected to rise the growth of the global industrial flooring coating market in the upcoming years. According to the reports, more than 75 Million motor vehicles were produced across the globe in the year 2021.

Challenges

  • Disruption in the Supply Chain- Owing to the international barriers, there has been a disruption in the supply chain. The supply of the raw material required for the production of the industrial floor coating gets disturbed, making it difficult for the manufacturers to deal with the scarcity of raw material. Therefore, it is anticipated to restrain the growth of the market.
  • Fluctuations in the Prices of the Raw Material
  • High Sensitivity to Moisture


Global Industrial Floor Coating Market Segmentation

The global industrial floor coating market is segmented and analyzed for demand and supply by end use industry into aviation & transportation, manufacturing, warehousing, food processing, and others.  Out of these, the manufacturing segment is estimated to gain the largest market share of about ~45% in the year 2035. The growth of the segment can be attributed to the increasing number of manufacturing facilities, especially in emerging countries. Moreover, the growing demand for quality certifications for manufacturing plants in order to ensure employee safety, and efficient material handling. In addition, the chemicals are released, and the pressure of equipment has to be sustained during the production process. Therefore, all these factors are predicted to boost the growth of the segment in the market. As per the data, India reported more than 1,000 deaths and more than 3,500 injuries in registered factories on average in the year 2020.

The industrial floor coating market is also segmented and analyzed for demand and supply by product into epoxy, polyurethane, acrylic, and others. Amongst these segments, the epoxy segment is expected to garner a significant share by the end of the year 2035. This can be attributed to the surging consumer preference towards the professional and luxury appearances, that increases the demand for industrial floor coating. Moreover, owing to the compatibility of flexible epoxy resins with a wide range of designs, and colors are further expected to expand the segment’s growth in the market. In addition, the industry’s needs flooring that is durable in order to prevent the floors from cracking, thus raising the demand for industrial floor coating.

Our in-depth analysis of the global industrial floor coating market includes the following segments:

     By End Use Industry

  • Aviation & Transportation
  • Manufacturing
  • Warehousing
  • Food Processing
  • Others

     By Product

  • Epoxy
  • Polyurethane
  • Acrylic
  • Others

     By Component

  • One Component
  •  Two Component
  • Three Component
  •  Other Component

     By Flooring Material

  • Mortar
  • Terrazzo
  • Concrete
 

Global Industrial Floor Coating Market Regional Synopsis

regional-synopsis

The market share of industrial floor coating in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~36% by the end of 2035. The growth of the market can be attributed majorly to the increasing shift towards production outsourcing from countries such as the U.S, U.K. and other countries in the Asian countries. Moreover, countries such as China, and India are hubs for manufacturing set-up owing to the availability of resources at a lower cost. In addition, it has led to the rise in the number of manufacturing units that are producing goods at lower cost, which in turn is surging the demand for industrial floor coating. Moreover, there has been increasing growth in the aviation, construction, marine, and other industries in the Asia Pacific region, that is further predicted to boost the growth of the market in the region. As per recent reports, the manufacturing units in India contribute to nearly 16 percent of the India’s gross domestic product (GDP) and they employ more than 10 percent of the total workforce in the country.

The North America market is estimated to be the second largest, registering a share of about ~28% by the end of 2035. The growth of the market can be attributed majorly to the surging renovation, and remodeling in the residential, as well as commercial construction sectors. Furthermore, the presence of key players in industrial floor coating in the region is further projected to surge the growth of the market in the region. In addition, the increasing research and development investment for the floor coating in countries such as U.S and the Canada is another factor that is anticipated to expand the market’s growth in the region.

Further, the market in the European, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the growth in the construction sector in the region. In addition, the increase in the number of commercial buildings in the European region is surging up the demand for industrial floor coating. Moreover, there has been growth in the automotive industry, followed by the increasing number of consumers and manufacturers, which is surging the demand for industrial facilities. Therefore, all these factors are predicted to provide opportunities for the growth of the industrial floor coating market in the European region.

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Top Featured Companies Dominating the Global Industrial Floor Coating Market

top-features-companies
    • BASF SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • The Dow Chemical Company
    • 3M Company
    • Astellas Pharma Inc.
    • PPG Industries, Inc.
    • Akzo Nobel N.V.
    • A & I Coating Ltd
    • Axalta Coating Systems, LLC
    • RPM International Inc.
    • The Lubrizol Corporation

In-the-news

In The News

  • BASF has launched manufacturing of its first bio-based polyol, Sovermol, in Mangalore, India. This product meets Asia Pacific's rapidly expanding need for environmentally friendly goods for use in New Energy Vehicles (NEV), windmills, flooring, and protective industrial coating.
  • Axalta Coating Systems introduced a new Paint Shop Management (PSM) system built on the Axalta New Generation Software (NGS) color control center system throughout Asia Pacific and the Middle East and North Africa (MENA). The PSM module is intended to help automotive refinish suppliers and body shops on performance and business improvement as an effective management tool.

preview-analysis

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Smruti Ranjan, Rajrani Baghel


Key Questions Answered in the Report

1) What are the major factors driving the growth of the industrial floor coating market?

Ans: Rapid industrialization in emerging countries, and surging investment in green buildings are the major factors driving the market growth.

2) What would be the CAGR of industrial floor coating market over the forecast period?

Ans: The market size of industrial floor coating is anticipated to attain a CAGR of ~7.60% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the industrial floor coating market growth?

Ans: Disruption in the supply chain, and fluctuations in the price of raw materials are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of industrial floor coating market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the industrial floor coating market?

Ans: The major players in the market are The Dow Chemical Company, 3M Company, Astellas Pharma Inc., PPG Industries, Inc., Akzo Nobel N.V., RPM International Inc., Axalta Coating Systems, LLC, A & I Coating Ltd, The Lubrizol Corporation, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the industrial floor coating market?

Ans: The market is segmented by end use industry, product, component, flooring material, and by region.

8) Which segment captures the largest market size in the end use industry segment in the industrial floor coating market?

Ans: The manufacturing segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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