Industrial Floor Coatings Market to Record an Exponential CAGR by 2026
Industrial
floor coating is a liquid substance applied on the floor. These turn
into hard substances when dry, thereby providing walking surface.
Industrial floor coatings offer resistance to abrasion, chemicals,
etc. The trend of using seamless flooring is gaining prominence in
the industrial floor coating market.
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Industrial
Floor Coating Market: Key Segments
The
global industrial floor coating market can be segmented based on
binder type, flooring material, coating component, end-user, and
region. In terms of binder type, the global industrial floor coating
market can be classified into epoxy, polyaspartic, and others
(including acrylic and polyurethane). The epoxy segment is expanding
significantly, as epoxy binders possess attributes such as high
adhesion, flexibility, and solvent resistance. Based on flooring
material, the global industrial floor coating market can be divided
into concrete, mortar, and terrazzo.
The
concrete segment dominates the market, led by its easy installation
process, cost efficiency, durability, and high tensile strength. In
terms of coating component, the global industrial floor coating
market can be categorized into one-component, two-component,
three-component, four-component, and five-component. The
four-component segment leads the industrial floor coating market
owing to its features such as, smooth, hygienic, and easy clean floor
finishing. Based on end-user, the global industrial floor coating
market can be divided into manufacturing, aviation &
transportation, food processing, science & technology, and
others. The others segment includes hospitality, healthcare, and fire
& public safety industries. The manufacturing segment is gaining
momentum due to the rise in production plants and increase in
industrialization in emerging economies.
Industrial
Floor Coating Market: Trends & Developments
The
industrial floor coating market is expanding significantly owing to
the increase in demand for these coatings in the food processing
industry. Additionally, rapid growth in urbanization and increase in
government initiatives to provide improved manufacturing facilities
in emerging economies are boosting the industrial floor coating
market. Rise in demand for chemical resistant and tensile strength
flooring is propelling the global industrial floor coating market.
However, high cost of raw materials and implementation of stringent
government regulations on usage of these coatings in the food
industry are hampering the global industrial floor coating market.
Nevertheless, rise in infrastructure and commercial construction is
creating opportunities for the global industrial floor coating
market.
Industrial
Floor Coating Market: Regional Outlook
Based
on region, the global industrial floor coating market can be split
into North America, Europe, Asia Pacific, Middle East & Africa,
and Latin America. Asia Pacific is expected to account for the major
share of the global industrial floor coating market during the
forecast period due to the rise in industrialization and
commercialization is emerging economies such as China, India,
Vietnam, and Malaysia. North America and Europe hold significant
share of the industrial floor coating market owing to the high demand
for these coatings in aviation & transportation and food
processing industries. The global industrial floor coating market in
Latin America is anticipated to expand substantially owing to the
increase in urbanization and commercialization activities.
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Industrial
Floor Coating Market: Key Players
Key
players operating in the global industrial floor coating market
include PPG Industries, Inc., The Sherwin-Williams Company, Akzo
Nobel N.V., BASF SE, RPM International Inc., 3M Company, The DOW
Chemical Company, Koninklijke Dsm N.V., The Lubrizol Corporation,
Asian Paints PPG Pvt. Ltd., Florock Polymer Flooring Systems, Nora
System, Inc., Maris Polymers Sa, Plexi-Chemie, Inc., and Grand
Polycoats.
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