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Allied Market Research

Industrial Floor Coating Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

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Aug 2021 | 208 Views
   
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COVID-19

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Industrial floor coating is a coating compound that is applied on the floor which turns into hard plastic substance. Industrial floor coatings consists of a polymer resin and the hardener. Industrial floor coatings are used to extend the life of concrete floors in industries like logistics center, chemical plants, and warehouses. These floor coatings provide resistance to chemicals, abrasion, and heavy loads. Industrial floor coating provide seamless and hygienic surface by increasing the durability of floor surface. They are available in various types in the market such as one-component, two-component, three-component, four-component, and five component. They are categorized into concrete, terrazzo and mortar in terms of flooring materials and epoxy, polyaspartic, and polyurethane in terms of binding materials. Epoxy floor coating is the most popular binding material in the industrial floor coating market.

Market scope and structure

Report Metric

Details

 Market size available for years  

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Application, type, industry vertical, and region

  Companies covered

PPG Industries, Inc., AkzoNobel N.V., The Sherwin-Williams Company, BASF SE, RPM International Inc., 3M Company, The Daw Group, The Lubrizol Corporation, Asian Paints PPG Pvt. Ltd., Axalta Coating Systems Ltd. , and The Dow Chemical Company

 

 

 

 

 

Regions covered

North America

Europe

Asia Pacific

LAMEA

US, Canada, and Mexico

Germany, France, UK, Italy, and the Rest of Europe

China, Japan, India, South Korea, and the Rest of Asia Pacific

Latin America, Middle East, and Africa

COVID-19 scenario analysis:

  • The demand for the industrial floor coating is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from various industries.
  • COVID-19 pandemic has halted the production of various products in the industrial floor coating, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the industrial floor coating market significantly form last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed form giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which is negatively affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: market scenario analysis, trends , drivers, and impact analysis

Shifting of trends towards floor protection in transportation, food processing, manufacturing and other industries has driven the market of industrial floor coating market. The growth in the production units in the industries and to safeguard the flooring from chemicals and heavy loads acts as the major growth driver for the industrial floor coating market. The increasing awareness about the floor coatings in the industries that offer features like dust resistant, waterproof material, abrasion resistant and others act as the growth driver for industrial floor coatings market. Further, the four-component segment leads the industrial flooring market due to its features like hygienic and smooth floor finishing. Moreover, the requirement for the tough grounds or floors in the mining, metallurgic, oil & gas and chemical industries due to heavy metals, hazardous chemicals and solvents drive the market of industrial floor coating market. Asia-Pacific region is expected to have the largest market share and is expected to further grow during the forecast period due to increase in the industrialization in the emerging economies like India. However, the high cost of raw materials and government regulations on usage of these coatings in the food industry can hamper the growth of the industrial floor coatings market.

New product launches to flourish the market

The launch of new generation technologically advanced industrial floor coatings can boost the growth of the market. In the past few years, many such products having unique features were launched in the market. On June 2019, one of the global leader in industrial floor coating Hempel has launched a new industrial floor coating Hempadur Quattro XO 17870. 

This product properties includes a superior corrosion protection and fast drying technology with its high- volume solids. Further, a global leader in industrial floor coating market Axalta coatings systems launched a first waterborne resin coating for the protection of electric motors. It also manufacturers industrial electrocoat products for electrical vehicles in industrial floor coating series.

High demand form applications :

The industrial floor coatings serves for various applications in the concrete floors of the industries by providing a high performance, smooth and durable surface. The industrial sites, warehouses and logistics center rely on the industrial floor coatings to maintain a clean and safe environment for the workers and inventories. The epoxy industrial floor coatings use the epoxy binding materials for high performance and decorative flooring like terrazzo flooring and colored aggregate flooring. Further, the water based industrial floor coating dry quickly providing a tough protective coating. These protective coating act as the chemical resistant and abrasion resistant. In food processing industry, the poly-urea industrial floor coatings is a popular choice due to its features like scratch-resistant, heat-resistant, and anti-bacterial properties. The meat processing and packaging industry creates a huge demand for these industrial floor coating in the food processing industries. Further, other applications include in automotive industry due to its resistance from chemicals found in oil, bleach and corrosion resistant properties in gas pipelines in oil& gas industry.

Key segments covered:

Segments

Subsegments

  Binding material

  • Epoxy
  • Polyurethane
  • others

  Application

  • Manufacturing
  • Food processing
  • Others

  Flooring material

  • Concrete
  • Mortar
  • Terrazzo

 

  Component

  • One-component
  • Two-component
  • Three-component
  • Four-component
  • Five-component

 

Key benefits of the report:

  • This study presents the analytical depiction of the industrial floor coating market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the industrial floor coating market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the industrial floor coating market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the industrial floor coating market research report:

  • Which are the leading players active in the industrial floor coating market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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