The market for industrial floor coatings is estimated to reach over US$ 7 billion by 2031, growing at a CAGR of around 3% throughout the forecast period, according to Fact.MR’s analysis.
Epoxy industrial floor coatings are predicted to account for more than half of overall demand by 2031, with a market value of more than US$ 4 billion. The segment is expected to grow at a rate of about 4% each year.
Throughout the projection period of 2021-2031, demand for industrial floor coatings is likely to be particularly strong in the manufacturing industry, which is expected to grow at a volume CAGR of more than 5%.
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
Competitive Environment
To expand their market footprint, leading industrial floor coating manufacturers use methods like mergers and acquisitions, introducing new product ranges, strategic alliances, and capacity building projects. The following are some noteworthy developments:
Scotchgard protector for hardwood floors is an additive-based stain prevention technology for pre-finished hardwood flooring offered by 3M Company. It has outstanding stain and filth resistance, as well as the ability to withstand traffic and cleaning.
PPG Industries gave more than 290 grammes of MASTER’s MARKTM antibacterial latex coatings to the Shanghai Tong Ren Hospital in April 2020, which will be utilised in the hospital’s medical laboratory, fever clinic, pressure isolation room, and disease control centre.
Takeaways from the Market Research
Epoxy industrial floor coatings are expected to reach $4 billion in revenue by 2031, with a CAGR of roughly 4%.
During the projected period, polyaspartic industrial floor coatings are expected to grow at a CAGR of roughly 3%.
Industrial floor coatings for the manufacturing sector will grow at a volume CAGR of above 5% by end use.
The United States is expected to grow rapidly, topping $1 billion in 2020, thanks to a strong manufacturing sector.
Workplace safety regulations are driving demand in China, where the market is growing at a CAGR of over 6%.
Germany’s market is expected to grow at a moderate pace, with a CAGR of around 2%.
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