Industrial Floors Coating Systems Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Industrial Floors Coating Systems Market is segmented By Product Type (Acrylic, Epoxy, Polyurethane, Others), By Floor Material (Wood, Concrete, Mortar, Others), By End-User Application (Commercial and Residential Buildings, Chemical Industry, Food, and Beverage Industry, Automotive and Aerospace Industry, Others), By Coatings Component Application (One component (1k), Two components (2k), Three components (3k), Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Industrial Floors Coating Systems Market Overview

The Global Industrial Floors Coating Systems Market is expected to grow at a high CAGR during the forecasting period (2024-2031).

Industrial Floors Coating Systems Market - Strategic Insights

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• Industrial floor coatings help prevention of cracks resulting in the concrete and also promote easy cleaning of floors thereby reducing the operational costs. Industrial floor coatings find their application in Food and beverages industry, biomedical manufacturing industries, iron and steel industries, and others.
• Industrial floor coatings improve the functionality of industrial floorings by enhancing the durability of concrete and other flooring materials.
• They are used for providing the floors with slip resistance, chemical resistance, and anti-microbial properties. Industrial floor coatings also exhibit anti-vibration and anti-static properties.

Industrial Floors Coating Systems Market Size

• According to the National Bureau of Statistics, China, the number of construction enterprises in China increased from 75722 in 2016 to 81196 in 2017.
• Real Estate industry in India is expected to reach a market size of USD 1 trillion in 2030 from USD 120 billion in 2018 contributing the 25% of the country’s GDP by 2026.
• The gross output value of China’s construction industry increased from USD 23 billion in 2016 to USD 26 billion in 2017. Similarly, according to the India Brand Equity Foundation, industrial investments in India’s real estate in 2018 reached USD 5.5 billion, the highest in a decade.
• India’s manufacturing output grew by 5.3%, and Indonesia’s production increased by 4.6%. China and India rank 1st and 5th respectively in the list of countries with high industrial outputs.

Industrial Floors Coating Systems Market Dynamics

• The rapid growth of industrialization, awareness about flooring protection, increasing globalization and the growth of the construction and infrastructure industry are the key factors fueling the global industrial floor coatings market.
• Change in monetary and social conditions set apart by a significant increase in manufacturing and urbanization indicate the growing rate of industrialization among the countries of the world. According to the International Yearbook of Industrial Statistics 2018 released by United Nations Industrial Development Organizations (UNIDO), the world manufacturing value added (MVA) rose by 3.5% in 2017, the highest rate in the last seven years.
• United Nations Department of economic and social affairs reveals that about 55% of the world’s population resides in urban areas and this figure is expected to reach 68% by 2050. This high growth rate of Industrialization in many countries of the world is one of the primary factors contributing to the growth of the Global Industrial floor coatings market.
• However, lack of awareness about industrial floor coatings, high prices of raw materials, and materials used in the industries damaging the flooring coating material is the critical aspects impeding the growth of the Global Industrial Floor Coatings Market.

Industrial Floors Coating Systems Market Industry Segmentation

• The Global Industrial Floor Coating Market Systems Market has been segmented by type of product, end-user application, coatings components, and flooring material.
• Based on the product, the market is segmented as epoxy, acrylic, polyurethane, and others. The epoxy type coating is the dominant segment owing to its high resistance properties such as spill resistance, massive impacts and wear and tear caused by high-temperature products.
• It also provides high abrasion resistance, heat resistance, and chemical resistance. Floors coated with epoxy materials are easy to clean thereby reducing the maintenance costs.
• Owing to these factors, epoxy type coatings are widely used in costing floorings of various industries like chemical industries, food and beverage industries, construction and building industries and others. Attributing to these factors, the epoxy type coating materials are expected to dominate the global industrial floor coatings market in the future.
• Based on the end-user application, the market is segmented as commercial and residential buildings, food and beverage industry, chemical industry, automotive and aerospace industry and others.
• The building and construction industry and the food and beverage industries are the dominant segments of the global industrial floor coatings market owing to the requirement of maintaining purity, hygiene, and quality.
• The growth of these sectors is anticipated to boost the growth of the industrial floor coatings market. According to the statistics by the World Bank and the International Monetary Fund (IMF), the global revenue generated from the Food and Beverage Industry amounts to USD 107.79 million is 2019, an increase from USD 93.5 million in 2017 and USD 80.2 million in 2016.
• The average revenue per user in 2018 was USD 89.5, an increase from USD 83.2 in 2016. Moreover, according to Oxford Economics, UK, the volume of the global construction output is expected to grow by 85% to USD 15.5 trillion by 2030 with India, US and China accounting for 57% of the worldwide growth.
• Owing to these factors, the construction industry and the food and beverage industry are anticipated to dominate the global industrial floor coatings market.

Industrial Floors Coating Systems Market Geographical Share

• The Global Industrial Floor Coating Market Systems Market is segmented into North America, Europe, Asia Pacific, South America and Rest of the world.
• The Asia Pacific region is further segmented into the following areas like China, Japan, India, Australia, and others. The Asia Pacific region is dominating the global industrial floor coatings market owing to the growth of the construction industry in India and China.
• Moreover, the presence of major heavy-duty industries in India and China coupled with high manufacturing outputs is also fueling the industrial floor coatings market in this region.
• According to the United Nations Industrial Development Organization (UNIDO), the manufacturing output of China rose by 6.4% in 2018, the highest in any country in the world.
• Thus, the high growth rate of manufacturing output and the rising building and construction industry is anticipated to drive the Asia Pacific region to dominate the global industrial floor coatings market.

Industrial Floors Coating Systems Manufacturers

• Some of the major players in this market incorporate competitive strategies like mergers and acquisitions to retain their market competitiveness. For instance, in September 2018, Kansai Paints has signed an agreement with Jotun A/S to collaborate in global coatings business.
• New product launches and expansion of facilities are some other vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
• For instance, in May 2019, PPG Industries set up a new distribution center in Texas, intending to strengthen the company’s distribution model across the US.
• Moreover, in January 2019, Akzo Nobel launched a new innovative powder coating which offers invisible protection by keeping surfaces hygienically clean while tackling the threat of cross-contamination.

The scope of the Report:

• The report covers the factors impacting the market, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The Global Industrial Floor Coating Market Systems Market is segmented based on the type of product as epoxy, polyurethane, acrylic, and others.
• Based on the flooring material, the market is segmented as wood, mortar, concrete and others. Based on the coating components, the market is segmented as one component(1k), two components(2k), three components(3k) and others.
• Based on the end user application, the market is segmented as Commercial and residential buildings, Automotive and Aerospace Industries, Food and Beverage Industry, Chemical Industry and others. Based on the geography, the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the World (ROW).
• The report profiles the following companies: PPG Industries, Sherwin Williams Company, Akzo Nobel, BASF SE, 3M, Kansai Paints, Asian Paints, Dow Chemicals, Milliken and company, and Koninklijke DSM.