The impact of the COVID-19 outbreak has forced several manufacturers and industries to reconsider their operations to gradually recover from the losses of the coming years. The organic chemical industry suffered a massive setback due to production standstills and scarce raw material supplies.
Significant gains were recorded in the past, with the market being valued at nearly US$ 6 billion in 2019. Recessionary impacts ushered in by the COVID-19 pandemic crisis led to a moderate crunch, closing in at around US$ 5 billion in 2020. Manufacturers are increasingly tilting towards bio-based floor coatings, keeping in mind emerging sustainability trends associated with producing industrial goods.
Roquette Freres, for instance, is a prominent bio-based floor coatings manufacturer, offering the POLYSORB® monomer and the BIOSUCCINUM® bio succinic acid. The former offers high scratch, temperature, and UV resistance, while also imparting excellent surface hardness. Both enable 100% renewable resins and comprise 60-70% renewable materials such as oils or fatty acids.
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Key Takeaways from Market Study
- Epoxy industrial floor coatings to surpass US$ 4 billion by 2031, expanding at a CAGR of around 4%
- Polyaspartic industrial floor coatings to surge at a CAGR of nearly 3% during the forecast period
- By end use, industrial floor coatings for the manufacturing sector to experience a volume CAGR of over 5%
- The U.S. to generate high growth prospects, surpassing US$ 1 billion in 2020, amid a robust manufacturing sector
- Stringent workplace safety rules to pivot demand across China, with the market here expanding at a CAGR of over 6%
- The market in Germany to experience moderate growth, expanding at approximately 2% CAGR
“Constant usage of factory premises to ensure continuous supplies across key industries are prompting unit owners to develop robust industrial floors so as to avoid wear and tear, abrasion, and corrosion, prompting increased application of industrial floor coatings,” opines a Fact.MR analyst.
Competitive Landscape
Prominent industrial floor coating manufacturers depend on such prominent expansion strategies as mergers & acquisitions, introducing new product portfolios, strategic collaborations, and capacity building initiatives to enhance market footprint. Some notable developments are as follows:
- 3M Company has been offering the Scotchgard protector for hardwood floors, comprising of an additive-based stain protection technology for pre-finished hardwood flooring. It demonstrates excellent resistance to stains and dirt and is durable to traffic and cleaning.
- In April 2020, PPG Industries donated more than 290 grams of MASTER’s MARKTM, its range of antibacterial latex coatings to the Shanghai Tong Ren Hospital to be used across its medical laboratory, fever clinic, pressure isolation room and center of disease control.
- In May 2021, BASF Refinish Coatings collaborated with its industry partners across its value chain to jointly seek an optimal path to achieve the new VOC emission target, at its Annual Dealers Conference in China which will help it manufacture more eco-friendly industrial floor coatings.
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Key Questions Answered in Report
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How much will demand for industrial floor coatings increase from 2021 to 2031?
According to Fact.MR’s analysis, the market for industrial floor coatings is expected to reach nearly US$ 7 billion by 2031, expanding at a CAGR of around 3% throughout the forecast period.
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Which is likely to be the most prominent industrial floor coating category based on binder?
Based on binder, epoxy industrial floor coatings are expected to generate over half of total demand, reaching a value of more than US$ 4 billion by 2031. The segment is projected to expand at approximately 4% CAGR.
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Which will be the most prominent end user of industrial floor coatings as per Fact.MR’s report?
Demand for industrial floor coatings is expected to remain especially high across the manufacturing industry, which is anticipated to expand at a volume CAGR exceeding 5% throughout the 2021-2031 forecast period.
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Based on region, which are the most promising markets for industrial floor coatings?
The U.S. is expected to generate a significant chunk of global industrial floor coating demand, valued at over US$ 1 billion in 2020, amid extensive uptake across key manufacturing sectors such as building & construction. China is also expected to emerge as a key investment destination, with the market projected to expand at over 6% CAGR until 2031.
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Which are the major industrial floor coating manufacturers presently operating within the market?
3M Company, A&I Coatings, Akzo Nobel N.V, PPG Industries, BASF SE, Grand Polycoats, Florock Polymer Flooring, and Ardex Endura (India) Pvt. Ltd. are prominent industrial coating manufacturers profiled in Fact.MR’s report.
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Key Market Segments Covered
- Binder Type
- Epoxy Industrial Floor Coatings
- Polyaspartic Industrial Floor Coatings
- End Use
- Industrial Floor Coatings for Manufacturing
- Industrial Floor Coatings for Aviation & Transportation
- Industrial Floor Coatings for Food Processing
- Industrial Floor Coatings for Other End Uses
- Region
- North America
- Europe
- East Asia
- South Asia
- Latin America
- Oceania
- Middle East & Africa
Audited Assessment for Regional Segments
The report contains key sections that helped generate forecasts about regional markets. These chapters include regional macros (political, economic and business environment outlook) that are expected to have a significant impact on the growth of the Industrial Floor Coatings market over the forecast period.
For each region, a country-by-country assessment of industrial floor coatings demand has been offered, along with estimates and forecasts of market size, a price index, and an impact analysis of awareness dynamics in regions and countries. YoY growth estimates have also been included in the report for all regional markets.
The report also includes a detailed breakdown by value and volume for emerging markets.
In-Depth Analysis of the Competitive Landscape
The report sheds light on leading Industrial Floor Coatings manufacturers with their detailed profiles. Important and up-to-date data on market players that mainly offer Industrial Floor Coatings has been provided with the help of detailed dashboard view. The market share analysis and comparison of prominent players in the report enable the report readers to take preventive measures to further develop their business.
Key question answered in survey by
Industrial Floor Coatings Market Report:
Industrial Floor Coatings Market Estimates and Industrial Floor Coatings Forecast Industrial
Floor Coatings Market Size Industrial Floor Coatings
Market Analysis Industrial Floor Coatings
Statistical Analysis
Key Drivers of Industrial Floor Coatings Market
Which are the Key Drivers impacted by Industrial Floor Coatings Market?
Restraints Characterizing the Growth of the US
Industrial Floor Coatings Market Overview
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