Award-winning and ESOMAR-certified market research and consulting firm recently published a report on the global market for industrial floor coatings. As per the study, the study anticipates that the market will register a CAGR of around 3%. Additionally, it will reach almost US$ 7 billion by 2031. Extensive application of industrial floor coatings is likely across the manufacturing industry. This is due to widespread industrialization.
Significant gains were recorded in the past, with the market being valued at nearly US$ 6 billion in 2019. Recessionary impacts ushered in by the COVID-19 pandemic crisis led to a moderate crunch, closing in at around US$ 5 billion in 2020. Manufacturers are increasingly tilting towards bio-based floor coatings, keeping in mind emerging sustainability trends associated with producing industrial goods.
Roquette Freres, for instance, is a prominent bio-based floor coatings manufacturer, offering the PolySorb monomer and the Biosuccinum bio succinic acid. The former offers high scratch, temperature, and UV resistance. It also imparts excellent surface hardness. Both enable 100% renewable resins and comprise 60-70% renewable materials such as oils or fatty acids.
Key Takeaways from Market Study
- Epoxy industrial floor coatings to surpass US$ 4 billion by 2031, expanding at a CAGR of around 4%
- Polyaspartic industrial floor coatings to surge at a CAGR of nearly 3% during the forecast period
- By end use, industrial floor coatings for the manufacturing sector to experience a volume CAGR of over 5%
- The U.S. to generate high growth prospects, surpassing US$ 1 billion in 2020, amid a robust manufacturing sector
- Stringent workplace safety rules to pivot demand across China, with the market here expanding at a CAGR of over 6%
- The market in Germany to experience moderate growth, expanding at approximately 2% CAGR
“Constant usage of factory premises to ensure continuous supplies across key industries are prompting unit owners to develop robust industrial floors so as to avoid wear and tear, abrasion, and corrosion, prompting increased application of industrial floor coatings,” opines a Senior Research Analyst.
Some prominent epoxy industrial floor coatings manufacturers include BASF SE, PPG Industries, A&I Coatings, Akzo Nobel N.V., Florock Polymer Flooring, Ardex Endura (India) Limited, Pro Maintenance Inc., Grand Polycoats, 3M Company, ArmorPoxy and Roto Polymers, and Chemicals.
- In July 2020, Florock Polymer Flooring introduced the FloroStoneTM Cove as part of its decorative epoxy industrial flooring line, which creates a seamless transition from floor-to-wall and eliminates hard-to-reach 90-degree angles along the edges of the floor, limiting accumulation of microbes to provide a more hygienic environment.
- In December 2019, BASF SE introduced the MasterTop XTC solution formulated with the XolutecTM technology, an inorganic modified high-density crosslinking polymer that provides seamless cleaning floor cleaning and is also highly user-friendly.
These insights are based on a report on Industrial Floor Coatings Market by Fact.MR.