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Industrial Floor Coatings Market worth over USD 7.5 billion by 2028

  • Published Date: June 16, 2022

According to a new research report by Global Market Insights Inc., the Industrial Floor Coatings Market size to exceed USD 7.5 billion by 2028.

Rising awareness about product benefits including high mechanical strength and superior chemical resistance is likely to propel the product application scope across various sectors. Several companies have begun renovations by incorporating floor coatings to reduce wear & tear. A greater focus on reducing maintenance costs amidst harsh working conditions, such as heavy machinery, excessive heat, and chemical spills, will fuel the industrial floor coatings market.

Favorable macroeconomic conditions fostering high investments in the global manufacturing sector will propel the industrial floor coatings market. A major share of these investments will be in the manufacturing industries to support the needs of the growing population, fueling business growth over the forecast period. Technological advancements offer a myriad of innovations to enhance floor coatings.

For instance, a key breakthrough has been the development of bio-based floor coatings. Bio-based floor coatings are gaining popularity among manufacturers and end-users alike owing to the minimal impact on the environment. Moreover, the low cost of bio-based alternates compared to conventional materials will augment their usage.

The polyaspartic segment is projected to cross USD 500 million by 2028. Polyaspartic is a low-VOC coating that provides higher performance compared to traditional coatings such as epoxy and polyurethane. The product has a quick curing time and is easy to install, thus lowering the downtime for customers. Polyaspartic is three times more abrasion-resistant than epoxies and offers higher flexibility, scratch resistance & better adhesion. Furthermore, they do turn yellow when exposed to sunlight and are UV stable.

Browse key industry insights spread across 500 pages with 300 market data tables & 30 figures & charts from the report, “Industrial Floor Coatings Market Size, Share and Industry Analysis Report, By Product (Epoxy, Polyaspartic, Polyurethane, Acrylic, Epoxy Cementitious, Methyl Methacrylate), By Component (Single Component, Double Component, Three Component, Four Component), By Flooring Material (Concrete, Mortar, Terrazzo), By Application (Manufacturing, Food Processing, Aviation & Transportation, Warehousing), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022-2028”, in detail along with the table of contents:

The three-component segment is projected to witness CAGR of around 7.5% through 2028. Three component floor coatings offer high durability, anti-slip properties, chemical resistance, and abrasion resistance. Production line areas such as processing plants, petrochemical plants, fertilizer plants, and automobile plants have emerged as major end-users over the past few years. Quick-drying, excellent adhesion to metal & concretes substrates, and easy applicability are key characteristics driving the industrial floor coatings market growth.

The food processing segment accounts for a considerable market share

Food processing will hold over 25% revenue share in industrial floor coatings market by 2028. Corrosion prevention is a significant issue plaguing the food processing industry. The extensive use of high-pressure water stream in combination with corrosive agents such as oxidizers, reducing chemicals & alkaline is a leading cause of the issue. Additionally, corrosion can also lead to costly downtime of machinery, impacting product safety and quality.

The industrial floor coatings market from mortar is projected to reach around USD 435 million by 2028. Mortar flooring systems are extensively used in heavy industrial operations and areas exposed to heavy traffic. It offers high impact resistance, durability, toughness, and anti-slip properties. The product also provides seamless finishing that caters to the aesthetic demand of the consumers. In addition, their growing use to resurface weakened concrete floors will fuel product demand over the forecast timeline.

North America to exhibit steady growth during the forecast period

The North America industrial floor coatings market is anticipated to witness a CAGR of 7% from 2022 to 2028 owing to the increasing production capacities of major companies in the region. Technological advancements in the manufacturing sector owing to the high automation of material movement and good transportation are among the key factors fueling the product demand.

Some of the key players in industrial floor coatings industry include Sherwin-Williams, Akzo Nobel, Michelman, Inc., The Lubrizol Corporation, Plexi-Chemie Inc., Sika AG, Nora Systems GmbH, RPM International, Koninklijke DSM, Ardex Group, ArmorPoxy, The Dow Chemical Company, PPG Industries, Kansai Paints, Axalta Coating Systems, Grand Polycoats, CPC Floor Coatings, Florock Polymer Flooring Systems, Asian Paints, Tambour, BASF, and Roto Polymers & Chemicals, among others.

Authors: Kiran Pulidindi, Akshay Prakash

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