Industrial Floor Coatings Market
Industrial Floor Coatings Market Study by Epoxy and Polyaspartic Industrial Floor Coatings for Manufacturing, Food Processing, and Aviation & Transportation from 2023 to 2033
Analysis of Industrial Floor Coatings Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Industrial Floor Coatings Market Growth Outlook (2023 to 2033)
The global market for industrial floor coatings will grow from US$ 5.5 billion in 2023 to US$ 7.3 billion in 2033. Over the forecast period, the market is expected to experience a slow growth rate of 3.0%.
Industrial floor coatings provide resistance against corrosive liquid and handle the heavy impact of constant traffic. These coatings are applied in almost all industrial set-ups to increase the life of the floor.
| Report Attributes | Details |
|---|---|
| Industrial Floor Coatings Market Size (2022A) | US$ 5.3 Billion |
| Estimated Market Value (2023E) | US$ 5.5 Billion |
| Forecasted Market Value (2033F) | US$ 7.3 Billion |
| Global Market Growth Rate (2023 to 2033) | 3.0% CAGR |
| North America Market Share (2022) | 23.0% |
| Key Companies Profiled | 3M Company; A&I Coatings; Akzo Nobel N.V; PPG Industries; BASF SE; Grand Polycoats; Florock Polymer Flooring; Ardex Endura (India) Pvt. Ltd.; Apurva India Private Limited; ArmorPoxy; Pro Maintenance Inc.; Roto Polymers and Chemicals; RPM International Inc.; The Sherwin-Williams Company |
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Growth Comparison of Industrial Floor Coatings Market
Rapid industrialization and urbanization are leading to higher number of manufacturing facilities which would ultimately increase the demand for floor coatings.
Manufacturers are focusing on developing a formulation that does not contribute towards carbon emission along. The conventional structure of the floor is porous which allows the water & other chemicals to penetrate inside the internal structure and degrade it internally. Thus, industrial floor coating not only provides a finished look to the floor but also provides external protection.
- Growth Factors for Short Term (2023 to 2026): Floor coatings are highly demanded in manufacturing units to sustain the pressure of equipment as well as resist the chemical released or spilled during the production process. The market is growing at a linear pace owing to the constant demand from the manufacturing set-ups.
- Factors for Medium-Term Growth (2026 to 2029): Increasing demand for formulations that do not contain VOCs are expected to experience a surge considering the regulations imposed by the government to limit carbon emission.
- Long Term Growth Opportunities (2029 to 2033): Manufacturers are adopting ground-breaking strategies to curb the demand pool and gain high-profit margins. This is likely to drive the industrial floor coatings market.
Market Dynamics Outlook
“Robust Flooring Demand from Industrial Set-Up to Drive the Market Growth”
In most developing economies, the manufacturing sector represents 8.0% to 10.0% of the country’s GDP. This sector attracts a lot of capital investment and business expenditure to carry out research & development activities. Thus, manufacturing infrastructure needs a strong foundation to ease the operational process.
Also, if the initial base is fixed with robust industrial floor coatings, the overall maintenance cost of the base infrastructure will be reduced for a long-term period.
Though the initial cost of applying floor coatings in the industrial set-up is quite expensive, it can be subsided by the long-term benefits and reduction in future maintenance costs. The additional benefit of applying floor coatings in industries is that it provides a smooth surface for transportation and does not put much pressure on forklift drivers while transferring the goods, especially in areas like loading docks and aisles.
“Bio-Based Formulations to Provide New Trajectory to the Market Growth “
The current share of bio-based coating formulations is very less in the global market. However, there are rising concerns over the use of chemicals contributing to carbon emission, due to which, the bio-based formulations will eventually hold a substantial share at the end of the forecast period.
Bio-based floor coating formulations are being developed with no deterioration in performance to cater to the industry requirement as well as address environmental concerns. In general, biomass such as aspartic acid, bio-PU, and renewable biopolymers are used for the development of industrial floor coating formulations.
“Supply Chain Disruption Along with Rising Raw Material Prices to Restrict the Market Growth”
Due to global geopolitical issues, manufacturing companies face a lot of market uncertainty at the moment. Unexpected international barriers are disrupting the supply chain network and making it difficult for manufacturers to overcome trade barriers. These barriers range from rising energy costs to unanticipated fluctuations in the cost of raw materials.
Production is becoming more difficult due to a lack of readily available raw materials, and the volatility in commodity prices may not be a one-time occurrence.
It is possible to efficiently generate revenue for businesses that have a dynamic adaptability to manage fluctuations in the costs of raw materials. Therefore, market instability has a negative effect on the market and impacts the growth of the industrial floor coatings market in light of the current situation.
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Country-wise Insights
Why there is High Demand in the U.S. for Industrial Floor Coatings?
In the U.S., the manufacturing sector drives 20% of national capital investment and 70.0% of business R&D expenditure. Bolstering investment in this particular sector indicates the future establishment of manufacturing units across the country driving the demand for the industrial floor coatings
The key to the growth of industrial floor coatings products in the U.S. is the establishment of adequate infrastructure solutions to provide employment as well as ensure the safety of employees working in the manufacturing unit. The various technical features of these coatings formulations such as temperature resistance, chemical resistance, microbial resistance, etc. would drive the market growth in the forecast period.
Why China is termed a Prominent Market for Industrial Coatings Solutions?
China is the hub for manufacturing set-ups owing to the easy availability of resources around the region. China’s industrial production expanded by 1.3% YoY in December 2022. Though the manufacturing units have been affected due re-emerging pandemic, the market has responded in a slow yet positive aspect to overall demand.
As the economy rebounds, the chances of the establishment of more manufacturing would lead to the increased consumption of floor coatings accelerating the overall demand in the market.
Category-wise Insights
Why Epoxy based Industrial Floor Coatings captured most of the coatings market?
Epoxy-based coating not only protects the external extremities but also are capable of insulating properties. Epoxy-based coatings can be applied to a wide range of surfaces such as concrete, glass, metal, steel, plastics, and many more.
Additionally, the usage of epoxy coatings in industrial flooring helps to maintain hygiene and allows the use of strong chemicals. Epoxy binder coatings have captured more than 50.0% of the market share in 2022 expanding at a CAGR of 4.0% by the end of the forecast period.
Why Manufacturing sector is the Highest Demand Creator for Industrial Floor Coatings?
Manufacturing Sector is the largest consumer of industrial floor coatings owing to infrastructure requirements for an efficient production process. Also, rapid industrialization and surging trade volume have increased the demand for industrial floor coatings.
The broadening manufacturing sector is expected to increase the requirement for industrial floor coatings and the market is expected to increase at a CAGR of 5.0% by the end of the forecast period.
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Key Strategies Followed by Key Manufacturers
Prominent industrial floor coatings manufacturers are 3M, A&I Coatings, Akzo Nobel N.V, PPG Industries, BASF SE, Grand Polycoats, ArmorPoxy, Pro Maintenance Inc., and Roto Polymers and Chemicals.
Sustainable technologies and optimization systems are being utilized by the world's leading producers of industrial floor coatings for a variety of end users. New product designs are being developed by major manufacturers to address issues related to product efficiency and ease of application. Additionally, the manufacturers are opting for digitalization in the supply chain network to reduce and optimize the cost margin.
For instance, In May 2021, BASF refinish coatings collaborated with various industries partners to optimize the value chain along with the development of an eco-friendly formulation to comply with environmental regulations
Fact.MR has provided detailed information about the price points of key manufacturers of industrial floor coatings positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Industrial Floor Coatings Industry Research
-
By Binder Type :
- Epoxy
- Polyaspartic
-
By End Use :
- Manufacturing
- Aviation & Transportation
- Food Processing
- Other
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Demand (Tons) Analysis and Forecast
- 5. Global Market - Pricing Analysis
- 6. Global Market Value (US$ million) Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Binder Type
- 7.1. Epoxy
- 7.2. Polyaspartic
- 8. Global Market Analysis and Forecast, By End Use
- 8.1. Manufacturing
- 8.2. Aviation & Transportation
- 8.3. Food Processing
- 8.4. Other End Uses
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Europe
- 9.4. East Asia
- 9.5. South Asia & Oceania
- 9.6. Middle East & Africa
- 10. North America Market Analysis and Forecast
- 11. Latin America Market Analysis and Forecast
- 12. Europe Market Analysis and Forecast
- 13. East Asia Market Analysis and Forecast
- 14. South Asia & Oceania Market Analysis and Forecast
- 15. Middle East & Africa Market Analysis and Forecast
- 16. Country-level Market Analysis and Forecast
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. 3M Company
- 18.2. A&I Coatings
- 18.3. Akzo Nobel N.V
- 18.4. PPG Industries
- 18.5. BASF SE
- 18.6. Grand Polycoats
- 18.7. Florock Polymer Flooring
- 18.8. Ardex Endura (India) Pvt. Ltd.
- 18.9. Apurva India Private Limited
- 18.10. ArmorPoxy
- 18.11. Pro Maintenance Inc.
- 18.12. Roto Polymers and Chemicals
- 18.13. RPM International Inc.
- 18.14. The Sherwin-Williams Company
- 18.15. The Lubrizol Corporation
- 18.16. Milliken & Company
- 18.17. Other Prominent Market Players
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ million), By Region, 2018 to 2022
Table 2: Global Market Value (US$ million) and Forecast By Region, 2023 to 2033
Table 3: Global Market Volume (Tons), By Region, 2018 to 2022
Table 4: Global Market Volume (Tons) and Forecast By Region, 2023 to 2033
Table 5: Global Market Value (US$ million), By Binder Type, 2018 to 2022
Table 6: Global Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 7: Global Market Volume (Tons), By Binder Type, 2018 to 2022
Table 8: Global Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 9: Global Market Value (US$ million), By End Use, 2018 to 2022
Table 10: Global Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 11: Global Market Volume (Tons), By End Use, 2018 to 2022
Table 12: Global Market Volume (Tons) and Forecast By End Use, 2023 to 2033
Table 13: North America Market Value (US$ million), By Country, 2018 to 2022
Table 14: North America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 15: North America Market Volume (Tons), By Country, 2018 to 2022
Table 16: North America Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 17: North America Market Value (US$ million), By Binder Type, 2018 to 2022
Table 18: North America Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 19: North America Market Volume (Tons), By Binder Type, 2018 to 2022
Table 20: North America Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 21: North America Market Value (US$ million), By End Use, 2018 to 2022
Table 22: North America Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 23: North America Market Volume (Tons), By End Use, 2018 to 2022
Table 24: North America Market Volume (Tons) and Forecast By End Use, 2023 to 2033
Table 25: Latin America Market Value (US$ million), By Country, 2018 to 2022
Table 26: Latin America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 27: Latin America Market Volume (Tons), By Country, 2018 to 2022
Table 28: Latin America Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 29: Latin America Market Value (US$ million), By Binder Type, 2018 to 2022
Table 30: Latin America Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 31: Latin America Market Volume (Tons), By Binder Type, 2018 to 2022
Table 32: Latin America Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 33: Latin America Market Value (US$ million), By End Use, 2018 to 2022
Table 34: Latin America Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 35: Latin America Market Volume (Tons), By End Use, 2018 to 2022
Table 36: Latin America Market Volume (Tons) and Forecast By End Use, 2023 to 2033
Table 37: Europe Market Value (US$ million), By Country, 2018 to 2022
Table 38: Europe Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 39: Europe Market Volume (Tons), By Country, 2018 to 2022
Table 40: Europe Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 41: Europe Market Value (US$ million), By Binder Type, 2018 to 2022
Table 42: Europe Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 43: Europe Market Volume (Tons), By Binder Type, 2018 to 2022
Table 44: Europe Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 45: Europe Market Value (US$ million), By End Use, 2018 to 2022
Table 46: Europe Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 47: Europe Market Volume (Tons), By End Use, 2018 to 2022
Table 48: Europe Market Volume (Tons) and Forecast By End Use, 2023 to 2033
Table 49: East Asia Market Value (US$ million), By Country, 2018 to 2022
Table 50: East Asia Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 51: East Asia Market Volume (Tons), By Country, 2018 to 2022
Table 52: East Asia Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 53: East Asia Market Value (US$ million), By Binder Type, 2018 to 2022
Table 54: East Asia Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 55: East Asia Market Volume (Tons), By Binder Type, 2018 to 2022
Table 56: East Asia Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 57: East Asia Market Value (US$ million), By End Use, 2018 to 2022
Table 58: East Asia Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 59: East Asia Market Volume (Tons), By End Use, 2018 to 2022
Table 60: East Asia Market Volume (Tons) and Forecast By End Use, 2023 to 2033
Table 61: South Asia & Oceania Market Value (US$ million), By Country, 2018 to 2022
Table 62: South Asia & Oceania Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 63: South Asia & Oceania Market Volume (Tons), By Country, 2018 to 2022
Table 64: South Asia & Oceania Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 65: South Asia & Oceania Market Value (US$ million), By Binder Type, 2018 to 2022
Table 66: South Asia & Oceania Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 67: South Asia & Oceania Market Volume (Tons), By Binder Type, 2018 to 2022
Table 68: South Asia & Oceania Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 69: South Asia & Oceania Market Value (US$ million), By End Use, 2018 to 2022
Table 70: South Asia & Oceania Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 71: South Asia & Oceania Market Volume (Tons), By End Use, 2018 to 2022
Table 72: South Asia & Oceania Market Volume (Tons) and Forecast By End Use, 2023 to 2033
Table 73: MEA Market Value (US$ million), By Country, 2018 to 2022
Table 74: MEA Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 75: MEA Market Volume (Tons), By Country, 2018 to 2022
Table 76: MEA Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 77: MEA Market Value (US$ million), By Binder Type, 2018 to 2022
Table 78: MEA Market Value (US$ million) and Forecast By Binder Type, 2023 to 2033
Table 79: MEA Market Volume (Tons), By Binder Type, 2018 to 2022
Table 80: MEA Market Volume (Tons) and Forecast By Binder Type, 2023 to 2033
Table 81: MEA Market Value (US$ million), By End Use, 2018 to 2022
Table 82: MEA Market Value (US$ million) and Forecast By End Use, 2023 to 2033
Table 83: MEA Market Volume (Tons), By End Use, 2018 to 2022
Table 84: MEA Market Volume (Tons) and Forecast By End Use, 2023 to 2033
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List Of Figures
Figure 1: Global Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 2: Global Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 3: Global Market Value (US$ million) and Volume (Tons) By Region, 2023 & 2033
Figure 4: Global Market Y-o-Y Growth Rate By Region, 2023 to 2033
Figure 5: Global Market Value (US$ million) and Volume (Tons) By Binder Type, 2023 & 2033
Figure 6: Global Market Y-o-Y Growth Rate By Binder Type, 2023 to 2033
Figure 7: Global Market Value (US$ million) and Volume (Tons) By End Use, 2023 & 2033
Figure 8: Global Market Y-o-Y Growth Rate By End Use, 2023 to 2033
Figure 9: North America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 10: North America Market Absolute $ Opportunity (US million), 2023 to 2033
Figure 11: North America Market Value (US$ million) and Volume (Tons), By Country, 2023 & 2033
Figure 12: North America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 13: North America Market Value (US$ million) and Volume (Tons) By Binder Type, 2023 & 2033
Figure 14: North America Market Y-o-Y Growth Rate By Binder Type, 2023 to 2033
Figure 15: North America Market Value (US$ million) and Volume (Tons) By End Use, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate By End Use, 2023 to 2033
Figure 17: North America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 18: North America Market Attractiveness Analysis By Binder Type, 2023 to 2033
Figure 19: North America Market Attractiveness Analysis By End Use, 2023 to 2033
Figure 20: Latin America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 21: Latin America Market Absolute $ Opportunity (US$ million), 2023 to 203
Figure 22: Latin America Market Attractiveness Analysis By Binder Type, 2023 to 2033
Figure 23: Latin America Market Attractiveness Analysis By End Use, 2023 to 2033
Figure 24: Europe Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 25: Europe Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 26: Europe Market Value (US$ million) and Volume (Tons), By Country, 2023 & 2033
Figure 27: Europe Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 28: Europe Market Value (US$ million) and Volume (Tons) By Binder Type, 2023 & 2033
Figure 29: Europe Market Y-o-Y Growth Rate By Binder Type, 2023 to 2033
Figure 30: Europe Market Value (US$ million) and Volume (Tons) By End Use, 2023 & 2033
Figure 31: Europe Market Y-o-Y Growth Rate By End Use, 2023 to 2033
Figure 32: Europe Market Attractiveness Analysis By Country, 2023 to 2033
Figure 33: Europe Market Attractiveness Analysis By Binder Type, 2023 to 2033
Figure 34: Europe Market Attractiveness Analysis By End Use, 2023 to 2033
Figure 35: East Asia Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 36: East Asia Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 37: East Asia Market Value (US$ million) and Volume (Tons), By Country, 2023 & 2033
Figure 38: East Asia Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 39: East Asia Market Value (US$ million) and Volume (Tons) By Binder Type, 2023 & 2033
Figure 40: East Asia Market Y-o-Y Growth Rate By Binder Type, 2023 to 2033
Figure 41: East Asia Market Value (US$ million) and Volume (Tons) By End Use, 2023 & 2033
Figure 42: East Asia Market Y-o-Y Growth Rate By End Use, 2023 to 2033
Figure 43: East Asia Market Attractiveness Analysis By Country, 2023 to 2033
Figure 44: East Asia Market Attractiveness Analysis By Binder Type, 2023 to 2033
Figure 45: East Asia Market Attractiveness Analysis By End Use, 2023 to 2033
Figure 46: South Asia & Oceania Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 47: South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 48: South Asia & Oceania Market Value (US$ million) and Volume (Tons), By Country, 2023 & 2033
Figure 49: South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 50: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Binder Type, 2023 & 2033
Figure 51: South Asia & Oceania Market Y-o-Y Growth Rate By Binder Type, 2023 to 2033
Figure 52: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By End Use, 2023 & 2033
Figure 53: South Asia & Oceania Market Y-o-Y Growth Rate By End Use, 2023 to 2033
Figure 54: South Asia & Oceania Market Attractiveness Analysis By Country, 2023 to 2033
Figure 55: South Asia & Oceania Market Attractiveness Analysis By Binder Type, 2023 to 2033
Figure 56: South Asia & Oceania Market Attractiveness Analysis By End Use, 2023 to 2033
Figure 57: MEA Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 58: MEA Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 59: MEA Market Value (US$ million) and Volume (Tons), By Country, 2023 & 2033
Figure 60: MEA Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 61: MEA Market Value (US$ million) and Volume (Tons) By Binder Type, 2023 & 2033
Figure 62: MEA Market Y-o-Y Growth Rate By Binder Type, 2023 to 2033
Figure 63: MEA Market Value (US$ million) and Volume (Tons) By End Use, 2023 & 2033
Figure 64: MEA Market Y-o-Y Growth Rate By End Use, 2023 to 2033
Figure 65: MEA Market Attractiveness Analysis By Country, 2023 to 2033
Figure 66: MEA Market Attractiveness Analysis By Binder Type, 2023 to 2033
Figure 67: MEA Market Attractiveness Analysis By End Use, 2023 to 2033
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Competitive landscape highlights only certain players
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- FAQs -
What is the Industrial Floor Coatings market estimated to reach in 2023?
The market is expected to reach around a valuation of US$ 7.3 billion by 2023
What is the projected CAGR for the Industrial Floor Coatings Market from 2023 to 2033?
By the end of the forecast period, it is anticipated that the market will grow at a CAGR of 3.0%.
Which Type of Industrial Floor Coatings is most likely to Account for the Majority of Sales?
Epoxy-based binder type formulations are most likely to account for more than 50.0% of the market share.
Which End Use is anticipated to Account for the Maximum Consumption of Industrial Floor Coatings?
Manufacturing units is anticipated to be the largest consumer of industrial floor coatings.
What is the Global Industrial Floor Coatings Market Size?
In 2022, the global market for industrial floor coatings was worth US$ 5.3 billion
Industrial Floor Coatings Market