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Industrial Floor Coating Market and Its Key Opportunities and Challenges

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Industrial Floor Coating Market and Its Key Opportunities and Challenges

February 01
13:12 2020
Industrial Floor Coating Market and Its Key Opportunities and Challenges

Browse 157 Market Data Tables and 46 Figures spread through 187 Pages and in-depth TOC on “Industrial Floor Coating Market”
Industrial Floor Coating Market by Resin Type, Flooring Material (Concrete, Mortar, Terrazzo), Coating Component, Technology, End-use Sector (Manufacturing, Aviation & Transportation, Food Processing, Science & Technology), Region

Industrial floor coating is a specialized group of chemically engineered materials, which find applications in a number of industries. These materials provide excellent chemical properties, including dispersion, UV protection, chemical resistance, and high-temperature stability. The anti-microbial property of these coatings is beneficial in numerous applications, especially in the food processing industry. Owing to their special function and relatively low production volume, their prices are relatively high. The rise in industrial construction and demand for the repair, maintenance, and protection of floors in the industrial facilities are driving the demand for industrial floor coatings. However, the volatile cost of raw materials may inhibit the growth of the industrial floor coating industry in the coming years.

MarketsandMarkets expects the global industrial floor coating market size to grow from USD 5.5 billion in 2019 to USD 6.8 billion by 2024, at a CAGR of 4.6% from 2019 to 2024. The market for industrial floor coating is segmented, on the basis of resin type, into epoxy, polyurethane, hybrid, and others. The epoxy segment dominated the market and is projected to be the fastest-growing resin type during the forecast period. The dominant market position of epoxy can be attributed to its superior properties, such as high adhesion, impact resistance, flexibility, and resistance to solvents and chemicals.

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The industrial floor coating market is classified, on the basis of flooring material, into concrete, mortar, terrazzo, and others. The concrete segment is projected to be the largest and fastest-growing segment in the industrial floor coating industry. Factors, such as the lower cost and tensile strength of concrete make  it a widely used material for the construction of industrial floors.

On the basis of end-use sector, the manufacturing segment is projected to be the largest segment in the industrial floor coating market during the forecast period. However, the food processing segment is projected to be the fastest-growing end-use sector. Coatings can infiltrate uncoated concrete floors, resulting in bacterial growth, ultimately degrading the quality and purity of processed food. Floors in these facilities are likely to provide harborage to pests, especially in the joints of walls and floors. To avoid these consequences, the food processing industry needs to apply floors coatings in the processing facilities. This would further boost the need and demand for the industrial floor coatings in the food processing segment.

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The industrial floor coating market is studied for five regions, namely, North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The Asia Pacific region accounted for  the largest market share in 2018, in terms of value. Also, the market for industrial floor coatings in this region is projected to grow at the highest CAGR from 2019 to 2024, in terms of value.

The purpose of industrial floor coatings is more than just being a layer of topcoat on any flooring material. It provides repair, maintenance, and protection solutions to a wide array of flooring requirements in industrial applications, such as warehouses, manufacturing plants or floors, and chemical plants. Further, this coating helps in improving the performance of the floors by increasing the stability of the floors. It provides excellent chemical properties, including dispersion, UV protection, chemical resistance, and high-temperature stability. The anti-microbial property of these coatings is beneficial in numerous applications, especially in the food processing industry.

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