“Industrial floor coating market projected to grow at a CAGR of 5.0%”
The industrial floor coating market size is projected to grow at a CAGR of 5.0% during the forecast period of 2016–2021 and reach USD 6.07 billion by 2021. Industrial floor coatings provide sustainable solutions to enhance the performance of floors in industrial and commercial facilities by increasing the durability of concrete and other flooring materials. As the floor in any industrial facility or commercial outlet is exposed to a great amount of wear and physical abuse, it requires adequate protection and maintenance to ensure better longevity. Industrial floor coating prevents damages such as abrasions, corrosion, thermal shocks, and chemical attacks. Other benefits provided by these coating solutions include waterproofing, slip resistance, puncture resistance, microbial protection, and decorative finish. Poor acceptance of industrial floor coating among the end-users due to pre-defined mindsets about industrial floor coating is a constraint in the growth of industrial floor coating market.
“The epoxy segment, by binder type, accounted for the highest market share in the industrial floor coating market in 2015”
The epoxy segment dominated the industrial floor coating market in 2015; it is projected to retain the leading position through 2021. Epoxy is the most commonly used industrial floor coating and comes in different thickness. This type of industrial floor coating dominates the market due to its superior properties such as high adhesion, impact resistance, flexibility, and chemical and solvent resistance. It is extensively used for flooring applications in industrial facilities such as refineries, chemical plants, and production.
“The concrete segment, by flooring material, accounted for the highest market share in the industrial floor coating market”
The industrial floor coating market has been segmented into three flooring materials, namely, concrete, mortar, and terrazzo. The concrete segment led the demand for flooring material in industrial floor coating in 2015 and is projected to grow at the highest CAGR from 2016 to 2021. Cost-efficiency and superior durability are the driving factors for the growing demand for concrete flooring. The ability to withstand high temperature and abrasion is also influencing the growing application of concrete flooring material in the industrial facilities.
“The Asia-Pacific region expected to witness the fastest-growth during the forecast period”
The Asia-Pacific region is projected to register the highest CAGR globally, between 2016 and 2021. India accounted for the largest market for industrial floor coating in the Asia-Pacific region, in 2015. The Indian market is projected to grow at the highest CAGR during the forecast period, whereas China accounted for the largest share in the industrial floor coating market in 2015. Rapid industrialization in the region as well as growth in a number of commercial structures in China, Indonesia, and India is driving the growth of the Asia-Pacific industrial floor coating market. Also, there are less stringent norms and standards for safety and environmental compliance along with easy availability of cheap labor, which is attracting major players across diverse industries to set up production facilities in these countries.
Breakdown of Primaries
- By Company Type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
- By Designation: C-Level – 65% and Manager Level – 35%
- By Region: North America – 25%, Europe – 28%, Asia-Pacific – 22%, Latin America – 10%, and Middle East & Africa – 15%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2015.
Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million < Revenue < USD 500 million; Tier 3: Revenue < USD 100 million
The various key players profiled in the report are as follows:
1. BASF SE (Germany)
2. PPG Industries Inc. (U.S.)
3. 3M Company (U.S.)
4. The Sherwin William Company (U.S.)
5. Akzo Noble (Netherland)
6. Koninklijke DSM N.V (Netherlands)
7. RPM International Inc. (U.S.)
8. The Dow Chemical Company (U.S.)
9. The Lubrizol Corporation (U.S.)
10. Asian Paints PPG Pvt. Limited (India)
11. Florock Polymer Flooring System (U.S.)
12. Nora System, Inc. (Germany)
13. Maris Polymers SA (Greece)
14. Plexi-Chemie, Inc. (U.S.)
15. Grand Polycoat (India)
16. Ardex Endure (India)
17. A&I Coatings (Australia)
18. Pro Maintenance, Inc. (U.S.)
19. ArmorPoxy (India)
20. Tambour (Israel)
21. CPC Floor Coating (U.S.)
22. Roto Polymer and Chemicals (India)
23. Michelman, Inc. (U.S.)
24. Apurva India Private Limited (India)
25. Milliken & Company (U.S.)
The primary objective of the study is to define, segment, and project the global industrial floor coating market on the basis of binder type, flooring material, coating component, end-use sector, and region. The study aims at strategically analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). In addition to this, the study analyzes competitive developments such as mergers & acquisitions, investments & expansions, new product launches, and research & developmental activities in the industrial floor coating market.
Reasons To Buy the report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the industrial floor coating market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
- The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, opportunities, and challenges.
- This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes mergers & acquisitions, investments & expansions, and new product launches.