A study on the global market for industrial floor coatings was recently released by the highly regarded consulting firm Fact.MR. According to the analysis, the market is projected to experience a CAGR of almost 3%, growing to approximately $7 billion by 2031. Due to extensive industrialization, industrial floor coverings are probably applied extensively throughout the manufacturing sector.
Prior to 2019, the market was valued at around US$ 6 billion, reflecting significant gains. The COVID-19 pandemic problem brought about a mild recession, which eventually reached a peak of roughly US$ 5 billion in 2020. Manufacturers are moving more and more toward bio-based floor coatings as they consider the newest developments in industrial product production’s relationship to sustainability.
For instance, Roquette Freres is a well-known producer of bio-based floor coatings, providing the POLYSORB® monomer and the BIOSUCCINUM® bio succinic acid. The former has exceptional surface hardness and great scratch, temperature, and UV resistance. Both facilitate the use of 100% renewable resins and contain 60–70% renewable components like oils or fatty acids.
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Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Industrial Floor Coatings and How to Navigate
- Recommendation on Key Winning Strategies
Key Takeaways from Market Study
- By 2031, the market for epoxy industrial floor coatings is expected to reach $4 billion, growing at a CAGR of about 4%.
- Industrial floor coverings made of polyaspartic will grow at a CAGR of almost 3% during the projection period.
- Industrial floor coatings for the manufacturing sector will see a volume CAGR of more than 5%, by end use.
- The United States is expected to have strong growth potential, topping $1 billion in 2020 thanks to a strong manufacturing sector.
- Strict workplace safety regulations will shift demand throughout China, where this market is growing at a CAGR of over 6%.
- Germany’s market is expected to increase moderately, at a CAGR of about 2%.
Key Companies Profiled
- 3M Company
- A&I Coatings
- Akzo Nobel N.V
- PPG Industries
- BASF SE
- Grand Polycoats
- Florock Polymer Flooring
- Ardex Endura (India) Pvt. Ltd.
- Apurva India Private Limited
- ArmorPoxy
- Pro Maintenance Inc.
- Roto Polymers and Chemicals
- RPM International Inc.
- The Sherwin-Williams Company
- The Lubrizol Corporation
- Milliken & Company
Competitive Landscape
A&I Coatings, Florock Polymer Flooring, Ardex Endura (India) Limited, Pro Maintenance Inc., Grand Polycoats, 3M Company, ArmorPoxy and Roto Polymers, and Chemicals are a few well-known makers of industrial floor coatings.
- The FloroStoneTM Cove was introduced by Florock Polymer Flooring in July 2020 as a part of its decorative epoxy industrial flooring line. It eliminates difficult-to-reach 90-degree angles along the edges of the floor and creates a seamless transition from floor to wall, limiting the accumulation of microbes to create a more hygienic environment.
- The MasterTop XTC solution, created with the XolutecTM technology, an inorganic modified high-density crosslinking polymer that offers seamless floor cleaning and is also incredibly user-friendly, was announced by BASF SE in December 2019.