The industrial floor coating market has witnessed significant growth in the past decade due to rise in industrial infrastructure and construction.
Growth of the construction sector in residential and commercial sectors has led to a favorable industrial floor coating market goods to fulfill the need for long-lasting industrial floors from a fast-increasing population. The global industrial floor coating industry was accounted for $5.89 billion in 2020, and is expected to reach $9.48 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Drivers, restraints, and opportunities
Rise in industrialization across the globe, growth in the food & beverage, manufacturing, and chemical industries, and surge in necessity in industrial facilities have boosted the growth of the global industrial floor coating market. However, lack of skilled workforce and awareness for selection of material hinder the market growth. On the contrary, surge in FDI inflows and favorable government policies are expected to open lucrative opportunities for the market players in the future.
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- The Covid-19 outbreak affected the demand for industrial floor coating due to prolonged lockdown and closure of industrial and production facilities across the globe.
- Moreover, the strict lockdown restrictions disrupted the supply chain and increased the raw material prices.
- However, the demand for industrial floor coating is expected to rise as the manufacturing facilities resume their work at a full capacity.
The epoxy segment held the largest share
By resin type, the epoxy segment held the largest industrial floor coating market share in 2020, accounting for more than two-fifths of the global market. Moreover, the segment is expected to register the highest CAGR of 5.2% during the forecast period, owing to rise in adoption in the food & beverage, chemical, and food storage warehouse industries for its features including high adhesion, durability, and impact resistance. The report includes analysis of segments such as polyaspartic, polyurethane, anhydrite, and others.
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The food and beverages segment dominated the market
By end-user industry, the food and beverage segment held the lion's share in 2020, contributing to more than one-fourth of the global industrial floor coating market. In addition, the segment is estimated to manifest the highest CAGR of 5.7% from 2021 to 2030, due to increase in demand in food & beverage industry for its ability withstand harsh service conditions including extreme temperature fluctuations and frequent high-pressure hosing. The report includes analysis of segments such as chemical, healthcare, transportation and aviation, and others.
Asia-Pacific, followed by Europe and North America, held the largest share
By region, the market across Asia-Pacific, followed by Europe and North America, dominated in 2020, holding more than two-fifths of the market. Moreover, the region is projected to portray the highest CAGR of 5.6% during the forecast period, owing to rapid industrialization and rise in demand from aerospace and electronics industry. The report includes analysis of global industrial floor coating market across Europe, North America, and LAMEA.
Major market players
- BASF SE
- Cornerstone Flooring
- Cipy Polyurethanes Pvt. Ltd.
- Fosroc, Inc.
- Don Construction Products Ltd.
- RPM International Inc.
- MAPEI S.p.A.
- Twintec Group Limited
- Sika AG
- VIACOR Polymer GmbH
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