Global Industrial Floor Coatings Market is projected to grow at an impressive rate through 2028 due to rapid growth in industrialization all over the globe. In 2022, the degree of urbanization worldwide was at 57 percent.
Industrial floor coating is a transparent, liquid substance applied to the floor and dries to form a walking surface. It is described as a thin coating applied to the floor structure to guard against exposure and dangerous substances. There are several types of industrial floor coatings available in the market, including epoxy, polyurethane, acrylic, and others. Epoxy coatings are the most commonly used industrial floor coatings due to their excellent adhesion, chemical resistance, and durability.
Polyurethane coatings are also gaining popularity due to their high resistance to abrasion and chemicals. Industrial floor coating adds aesthetic value and offers abrasion and anti-skid protection. These coatings provide maintenance, repair, and protection options for various commercial and industrial flooring requirements while resisting abrasion and chemicals.
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Industrial floor coatings can provide environmentally friendly ways to enhance the functionality of the floors in commercial and industrial buildings by lengthening the lifespan of the concrete and other flooring components. Enterprises emphasize performance, labor savings, and environmentally friendly raw materials as key growth areas.
The market for industrial floor coatings is primarily driven by the growing demand from various end-use industries such as automotive, food and beverage, pharmaceuticals, chemical processing, and others. These coatings provide a range of benefits such as improved durability, abrasion resistance, slip resistance, and ease of maintenance. They also enhance the appearance of the surface, making it more aesthetically pleasing. The Industrial Floor Coatings market is expanding rapidly.
Over the next few years, the market is anticipated to grow due to increased R&D spending and continued product development to improve the performance of Industrial Floor Coatings. Another factor driving the growth of the industrial floor coatings market is the increasing focus on sustainability and eco-friendliness. Many manufacturers are now offering low-VOC and solvent-free coatings that are environmentally friendly and comply with strict regulations. These coatings also offer excellent performance and durability, making them an attractive option for many industries.
Growing Demand from The Construction Industry
The floor coating offers a high-performance, smooth, durable surface that lasts many years and can sustain large loads. It also protects floors from dampness, stains, and fractures. Warehouses, hospitals, manufacturing & industrial facilities, showrooms, commercial & retail businesses, garages, and aviation hangars are a few places where floor coatings are applied. The expansion of construction activities worldwide has significantly influenced the demand for floor coverings in metropolitan areas.
The Industrial Floor Coatings industry strongly emphasizes embracing cutting-edge technologies like water-borne, solvent-borne, and UV-cured. They can be applied to both residential and commercial properties. These coatings protect surfaces from impurities like moisture, UV radiation, and bacteria. Industrial Floor Coatings are most frequently used in the residential and non-residential sectors. The global increase in urbanization is expected to drive future market expansion for industrial floor coatings.
The movement of people from rural to urban regions and the increase in urban population density are referred to as "urbanization." Urbanization is boosting demand for residential and non-residential buildings such as hospitals, schools, warehouses, and supermarkets, driving the industrial floor coatings industry. For instance, according to the United Nations Department of Economic and Social Affairs, 2.5 billion people, or 68% of the global population, will live in urban areas by 2050. In addition, the increasing awareness about the benefits of using industrial floor coatings is also driving the growth of this market. These coatings provide a protective layer that can withstand heavy traffic, impact, and chemicals, and can also enhance the aesthetics of the floor. This helps in reducing maintenance costs and increasing the lifespan of the floor.
Growing Technological Advancement
As per growing technological development, there has been a variety of floor coating developed that could be used based on the end user's demand. Polyaspartic coatings are a type of coating that offers excellent durability and chemical resistance.
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They are also fast-curing, which means that they can be applied quickly and efficiently. Recent advancements in poly aspartic coatings have focused on improving their UV resistance and color stability, making them ideal for use in outdoor applications. Poly aspartic coatings are aliphatic polyurea coatings. Similarly, Nanotechnology is being increasingly used in the development of industrial floor coatings. Nanoparticles can be added to coatings to improve their performance properties, such as scratch resistance and UV stability. They can also be used to create self-cleaning surfaces that are resistant to dirt, dust, and other contaminants.
Four flooring coating systems are available, including general-purpose industrial floor coating, wear-resistant industrial floor coating, chemical-resistant industrial floor coating, urethane cement, and additional custom options on request that coating manufacturers can develop. The rising importance of technological advancement helps in the appropriate use of layers, ensuring safety and welfare along with optimized material consumption. Hence, enhancing the productivity and aesthetic look in the arena.
Recent Developments-Industrial Floor Coatings Market
- In 2019, Sherwin-Williams acquired the Valspar Corporation, a major manufacturer of industrial coatings. This acquisition has enabled Sherwin-Williams to expand its product offerings and strengthen its position in the industrial coatings market.
Product Launch
- In 2021, Sherwin-Williams launched Resuscreed 43, a high-performance polyurethane resin flooring system. The product offers excellent chemical resistance and is ideal for use in demanding industrial environments.
- In 2020, PPG launched Aquapon WB EP, a water-based epoxy coating that offers excellent adhesion and durability. The product is free from harmful chemicals, making it an environmentally friendly option for industrial flooring.
- In 2018, Sika launched Sikafloor-264 Thixo, a high-performance epoxy coating that offers excellent chemical and abrasion resistance. The product features a thixotropic formulation, making it easy to apply to vertical surfaces and overhead areas.
Capacity Expansions
- In 2020, PPG announced plans to invest $15 million to expand its coatings manufacturing facility in Greenville, South Carolina.
- In 2019, AkzoNobel opened a new production plant in India to produce its international brand of protective coatings. The plant has a production capacity of 20,000 tons per year and produces a range of coatings, including high-performance industrial floor coatings.
- In 2018, BASF opened a new production plant in Indonesia to meet the increasing demand for its industrial coatings in the Asia-Pacific region. The plant has a production capacity of 60,000 tons per year and produces a range of coatings, including epoxy and polyurethane coatings.
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Table of Content-Industrial Floor Coatings Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
- Voice of Customer
- Global Industrial Floor Coatings Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Resin Type (Polyurethanes, Acrylic, Polyesters, Epoxy, Fluoropolymer, Alkyd and Others)
5.2.2. By Flooring Material (Concrete, Mortar, Terrazzo, Others)
5.2.3. By Component Type (One-Component, Two-Component, Three-Component, Four-Component, Five-Component)
5.2.4. By Technology (Water-based, Solvent-based, High Solids, Powder, and Others)
5.2.5. By End User (Transportation, General Industrial, Packaging, Marine, Aerospace, Industrial Wood, and Others)
5.2.6. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)
5.2.7. By Company (2022)
5.3. Market Map
5.3.1. By Resin Type
5.3.2. By Flooring Material
5.3.3. By Component Type
5.3.4. By Technology
5.3.5. By End User
5.3.6. By Region
5.4. Pricing Analysis
- North America Industrial Floor Coatings Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Resin Type
6.2.2. By Flooring Material
6.2.3. By Component Type
6.2.4. By Technology
6.2.5. By End User
6.2.6. By Country
6.3. Pricing Analysis