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Industrial Floor Coatings Market - By Product (Epoxy, Polyaspartic, Polyurethane, Acrylic, Epoxy Cementitious), By Component (Single Component, Double Component, Three Component, Four Component), By Flooring Material, By Application & Forecast, 2024 - 2032

  • Report ID: GMI1193
  • Published Date: Jun 2022
  • Report Format: PDF

Industrial Floor Coatings Market Size

Industrial Floor Coatings Market size was valued at around USD 3.77 billion in 2023 and will exhibit 3.4% CAGR from 2024 to 2032, owing to the rising awareness about product benefits including high mechanical strength and superior chemical resistance. The industry size is anticipated to cross 1,293 Kilo Tons in terms of volume by 2028 with an anticipated CAGR of 5.6% through the forecast period.
 

Industrial Floor Coatings Market

To understand key trends  

Floor coating systems for industrial facilities have the toughest job in the building. They must survive regular traffic and mechanical wear, followed by material abuse such as corrosive liquid, extreme heat, and hard impact. The shifting trend toward floor protection in the manufacturing, transportation, chemical, and food-processing industries has stimulated the industrial floor coating demand. An increasing need to certify manufacturing plants due to rising awareness among end-users has propelled the market growth.
 

The increasing use of heavy, high-performance machinery & equipment, particularly in the automotive and aviation industries, has increased the need for efficient industrial flooring. The increased demand for smooth flooring surfaces is attributed to technological advancements in material handling equipment with enhanced movement through wheels. The industrial floor coatings market will develop as the number of manufacturing units increases, protecting the interiors from damage and chemical leakage.
 

Industrial construction expansion is being influenced by rapid industrialization, particularly in emerging nations. Owing to the increased environmental consciousness among end-users, the industry has witnessed an increase in the penetration of bio-based floor coating. The industrial floor coatings market trend will be influenced by the increasing use of bio-renewable resources in floor coatings. The market for bio-renewable coatings is driven by the ease of coating application and fast curing, thus allowing floor usage in a short period after coating.
 

The food processing & manufacturing sectors together accounted for a significant share of the global industrial floor coatings market revenue with the food processing sector projected to have the fastest growth rate from 2022 to 2028. According to a report by Gulfood, the Middle East & Africa food & beverage industry is anticipated to grow at the highest rate, followed by Latin America and Asia Pacific. Furthermore, the number of manufacturers in the regions is expected to rise at a significant rate.
 

Industrial Floor Coatings Market Analysis

Industrial Floor Coatings Market, By Product, 2021 - 2032 (USD Billion)
To understand key trends  

The epoxy segment is anticipated to reach over USD 4 billion by 2028. Superior chemical, spill, stain, and heat resistance are among the key benefits supporting product demand. Increasing consumer preference for luxury & professional appearances is among the key trends, driving the epoxy industrial floor coatings market. In addition, the industry's need will be supported by a shifting trend toward very durable coatings to prevent floors from cracking.
 

Epoxy materials are becoming popular among producers due to their compatibility with a wide range of colors and designs. This has further increased product demand. The industry growth will be fueled by a positive outlook in warehouses, manufacturing facilities, pharmaceuticals, and food. However, sensitive installation and the complicated removal process are among the major factors restraining product penetration.
 

Industrial Floor Coatings Market Revenue Share, By Component, (2023)
To understand key trends  

The two-component segment will witness over 7% CAGR over the forecast timeframe due to their great corrosion resistance and longevity, two component industrial floor coatings have seen a significant increase in demand. Commercially available two-component industrial floor coverings include polyurethane and epoxy. The product's resistance to chemicals, such as inorganic and organic alkalis, petroleum compounds, and acids, has been improved.
 

Furthermore, double component floor coatings are mainly used in an environment that requires corrosion protection. The chemical composition of the polymer employed in the double component has a significant impact on the mechanical & chemical resistance it provides. Hence, the type of mixing is of utmost importance to achieve the desired characteristics and to determine the pot life.
 

The concrete segment accounts for a major share in the industrial floor coatings market and will generate a demand of over 1.2 million tons by 2028. Concrete floors are popular in manufacturing facilities due to their suitability. The manufacturers are expanding its concrete-based coatings owing to high demand has stimulated the segment scope. Furthermore, growing awareness of minimizing the maintenance cost on these floors has led to the wider acceptance of concrete floor coatings.
 

The manufacturing application segment will hold over 35% revenue share by 2028 owing to the shifting trend toward quality certifications for manufacturing plants to ensure efficient material handling and employee safety. The high adoption among manufacturing industries has driven global market growth. The rising number of manufacturing facilities, particularly in developing countries, are among the major drivers for industry growth. High chemical resistance and floor protection from extreme conditions are key properties fueling the industrial floor coatings market share.
 

APAC Industrial Floor Coatings Market Size, 2021- 2032 (USD Billion)
To understand key trends  

Asia Pacific industrial floor coatings market will generate a revenue of around USD 3.5 billion by 2028. The global manufacturing industry is heavily concentrated in Asian countries, particularly China, Japan & South Korea. In addition, the shifting trend toward production outsourcing among European and U.S. companies has further enhanced the number of manufacturing facilities in Asian countries. These favorable factors have stimulated the Asia Pacific industrial floor coatings market demand. Expansion in the food & beverage, aerospace, and automotive industries are among the key factors supporting the regional demand.
 

Industrial Floor Coatings Market Share

Key players in the industrial floor coatings industry are

  • Sherwin-Williams
  • PPG Industries
  • Axalta Coating Systems
  • Kansai Paints
  • Asian Paints
  • Tambour
  • Akzo Nobel N.V.
  • BASF
  • Roto Polymers & Chemicals
  • Nora Systems GmbH
  • Sika AG
  • RPM International Inc.

Manufacturers mainly focus on strategic alliances to enhance their business capabilities. For instance, in May 2017, Axalta Coating System acquired Spencer Coatings Group, a prominent manufacturer of high-performance industrial coatings for the heavy-duty equipment, oil & gas, general industrial, and glass coatings industries. The acquisition strengthened its foothold in the European countries.
 

The Industrial Floor Coatings Market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2022 to 2028 for the following segments:

to Buy Section of this Report


By Product

  • Epoxy
  • Polyaspartic
  • Polyurethane
  • Acrylic
  • Epoxy cementitious
  • Methyl Methacrylate (MMA)

By Component

  • One
  • Two
  • Three
  • Four

By Flooring Material

  • Concrete
  • Mortar
  • Terrazzo

By Application

  • Manufacturing
  • Food Processing
  • Aviation & Transportation
  • Warehousing

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Russia
    • Poland
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Malaysia
    • Thailand
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa
    • Qatar

 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Industrial floor coatings market is slated to surpass USD 5.1 billion by 2032 and is projected to grow at a CAGR of 3.4% between 2024 and 2032, driven by product benefits such as superior chemical resistance and high mechanical strength.
Epoxy industrial floor coatings market is expected to cross USD 4 billion until 2028 considering the escalating consumer preference for professional & luxury appearances.
Asia Pacific industrial floor coatings market revenue is anticipated to exceed USD 3.5 billion by 2028 owing to the shifting trend toward production outsourcing among companies in the U.S. and Europe.
Prominent companies in the industrial floor coatings industry comprise BASF, PPG Industries, Sherwin-Williams, Nora Systems GmbH, Asian Paints, RPM International Inc., Kansai Paints, and others.

Industrial Floor Coatings Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 21
  • Tables & Figures: 330
  • Countries covered: 23
  • Pages: 500
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