Enjoy complimentary customisation on priority with our Enterprise License!
The industrial floor coatings market size is forecast to increase by USD 1.20 billion at a CAGR of 4.28% between 2023 and 2028. Market growth hinges on various factors, notably the uptick in vendor mergers and acquisitions, indicative of industry consolidation and strategic expansion. Concurrently, rapid urbanization and infrastructure development projects fuel demand, aligning with burgeoning construction activities. Additionally, the proliferation of e-commerce platforms facilitates easier access to industrial coatings, amplifying market reach. These dynamics underscore the intertwined relationship between corporate strategies, urbanization trends, and technological advancements, shaping the trajectory of the market. Stakeholders must adeptly navigate these factors to capitalize on emerging opportunities while mitigating potential challenges in this dynamic landscape. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
Industrial floor coating refers to a specialized type of protective coating against abrasion, impact, chemicals, and moisture applied to floors in industrial settings, such as manufacturing plants, warehouses, distribution centers, and commercial facilities.
To Know more about the market report Request a Free Sample
The market thrives on the demand for durable flooring materials across various sectors, including food-processing industries and transportation. These coatings, often specialty materials, offer protection against mechanical wear and corrosive liquids, ensuring the longevity of flooring surfaces. High-performance coatings like polyaspartic coatings from companies such as DSM are gaining traction for their resilience. With applications on concrete bases and wood, they mitigate coating failures and enhance safety in the industrial sector. These floor coating systems are essential for maintaining floor protection and facilitating smooth operations with material handling equipment. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Rapid urbanization and infrastructure development is the key factor driving the market. The demand for high-performance flooring solutions is propelled by urbanization and infrastructure development, including industrial parks and logistics hubs. This growth often triggers stricter safety and environmental regulations. Increased awareness of industrial floor layers benefits, such as aesthetics and resistance to abrasion, impact, and chemicals, drives adoption among facility owners.
Moreover, as urban areas expand, the need for new industrial facilities rises, necessitating durable flooring solutions. They protect concrete floors from heavy traffic and equipment, enhancing longevity. Businesses increasingly recognize these benefits, driving market demand and innovation in industrial floor coatings. This trend is expected to sustain the growth of the market during the forecast period.
Pearl coating in industrial applications gaining traction is the primary trend shaping the market. Pearl floor layers offer a distinctive aesthetic appeal with a shimmering finish, ideal for commercial spaces, retail outlets, and hospitality venues where aesthetics matter. Their versatility in colors and effects allows for customization to align with specific design preferences and branding needs. With a high-gloss finish, they enhance light reflection and brightness, contributing to the overall ambiance.
Additionally, pearl coatings are easy to clean and maintain, resisting stains and contaminants, making them suitable for industrial environments prioritizing cleanliness. Their quick and efficient application minimizes downtime during installation, ensuring uninterrupted operations. The surge in demand for pearl floor layers in industrial settings reflects their ability to elevate the image and identity of facilities while meeting stringent hygiene standards. This growing demand is expected to drive the expansion of the market in the forecast period.
Safety concerns is the major challenge that affects the market expansion. Industrial floor coatings containing volatile organic compounds (VOCs), isocyanates, or epoxy resins pose health risks to workers due to potential skin and respiratory irritation or allergic reactions. Proper ventilation, personal protective equipment (PPE), and safety protocols are crucial to mitigate these risks. Flammable coatings, especially solvent-based ones, increase the risk of fire or explosion if mishandled.
Additionally, adherence to fire safety regulations, proper storage, and implementation of fire prevention measures are essential. Surface preparation activities like shot blasting or grinding can generate hazardous dust or fumes, posing respiratory risks to workers. Engineering controls such as dust collection systems can minimize airborne contaminants. Safety concerns related to industrial floor coatings, if not addressed adequately, may impede market growth during the forecast period.
Industrial flooring material often utilizes two-component coatings to create smooth surfaces on a concrete base, providing durable protection against corrosive liquids and enhancing safety in environments where spills are common. Further, smooth flooring surfaces are often achieved through the application of paints or layers, offering durability and ease of maintenance, especially in environments prone to exposure to corrosive liquid, such as industrial settings, while also enhancing the aesthetic appeal of consumer products.
The market share growth by the epoxy segment will be significant during the forecast years. Epoxy is a protective layer composed of epoxy resin and a curing agent that is applied to surfaces, typically floors, to provide enhanced durability, chemical resistance, and aesthetics. Epoxy can be formulated with slip-resistant additives to improve traction and reduce the risk of slips and falls, making them suitable for areas prone to wet or slippery conditions. Epoxy creates a seamless, non-porous surface that is easy to clean and maintain. This prevents contaminants from penetrating the substrate, reducing the risk of staining, bacterial growth, and moisture damage.
Get a glance at the market contribution of the End User segment Request Free Sample
The epoxy segment accounted for USD 2.07 billion in 2018. Further, epoxy coatings offer versatility in terms of design and appearance, with a wide range of colors, finishes, and decorative options available. This allows for customization based on aesthetic preferences, branding requirements, or functional needs. Epoxy layers can be customized with metallic pigments or decorative flakes to achieve desired effects. Overall, the combination of durability, chemical resistance, ease of maintenance, design versatility, fast installation, and long-term cost savings has contributed to the growing traction of epoxy in various sectors, which will positively impact the growth of the market during the forecast period.
The concrete?segment will account for the largest share of this segment.?Industrial facilities often handle chemicals, oils, and other corrosive substances that can damage concrete surfaces over time. The smooth, non-porous surface created by layers prevents dirt, dust, and contaminants from penetrating the substrate, simplifying cleaning procedures and reducing downtime. Further, the use of concrete floors is widespread across various industrial sectors due to their versatility, durability, customization options, safety benefits, ease of maintenance, regulatory compliance, cost-effectiveness, and fast installation. As industrial activities continue to grow, the demand for high-performance layers of concrete is expected to remain high, which will positively impact the growth of the market during the forecast period.
APAC is estimated to contribute 49% to the growth of the global market during the projection period.
Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
For more insights on the market share of various regions Request Free Sample
APAC hosts major automotive and electronics industries requiring specialized flooring solutions for quality, safety, and cleanliness standards. Industrial floor coatings safeguard against abrasion, impact, chemical spills, and ESD, vital in automotive plants, electronics manufacturing, and semiconductor cleanrooms. Rapid industrialization in countries like China, India, Japan, and South Korea drives the construction of manufacturing facilities, warehouses, and industrial parks, boosting demand for durable layers. With eco-awareness rising, there's a shift towards eco-friendly, low-VOC layers, meeting stringent regulatory standards and sustainability needs, fostering growth in the APAC market during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Akzo Nobel NV, ArmorGarage, BASF SE, Carolina Painting Co., Coatings For Industry Inc., Epoxy Central, Green Surface, Jemkon Pvt. Ltd., Majestic Chemicals, National Polymers Inc., PennCoat Inc., Penntek Industrial Coatings, PPG Industries Inc., Resinwerks, RPM International Inc., Sika AG, The Sherwin Williams Co., UCI NA LLC, and Watco Industrial Floors
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028.
The market is experiencing a surge in demand for advanced solutions like performance coatings and bio-based floor coating derived from bio-renewable resources. These coatings offer fast curing properties, ensuring minimal downtime and maximum floor usage in various industries, including food processing plants. They provide luxury and professional appearances while offering superior corrosion protection against chemical leakage and other hazards. Composed of epoxy materials and fortified with inorganic and organic alkalis, they exhibit exceptional mechanical and chemical resistance. With a focus on green materials and renewable energy sources, these coatings cater to both the commercial sector and residential sector, ensuring durable concrete floor coatings suitable for diverse applications.
Further, the market is witnessing a notable shift towards eco-friendly solutions such as bio-based floor coatings and bio-renewable coatings derived from sustainable sources. These coatings, often composed of epoxy industrial floor coatings, offer robust mechanical & chemical resistance against cracking, petroleum compounds, and acids, ensuring long-lasting protection for various industrial surfaces. Their unique chemical composition and polymer formulation contribute to their superior performance. Moreover, they are designed for easy mixing and application, providing seamless coverage for concrete flooring coatings. As industries prioritize sustainability and durability, the demand for such environmentally friendly and resilient coatings continues to grow in the optical products and wheels sectors, among others.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.28% |
Market Growth 2024-2028 |
USD 1.20 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.12 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akzo Nobel NV, Ardex Endura, ArmorGarage, BASF SE, Carolina Painting Co., Coatings For Industry Inc., Epoxy Central, Green Surface, Jemkon Pvt. Ltd., Majestic Chemicals, National Polymers Inc., PennCoat Inc., Penntek Industrial Coatings, PPG Industries Inc., Resinwerks, RPM International Inc., Sika AG, The Sherwin Williams Co., UCI NA LLC, and Watco Industrial Floors |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.