Worldwide Industrial Floor Coatings Market Set to Register 7.2% CAGR to 2024
Market Study Report adds global Industrial Liquid Coatings market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
Selbyville, Delaware – December 12, 2018 /MarketersMedia/ —
Historical data from 2013 is provided for Industrial Liquid Coatings market along with estimates and forecasts to 2024 based on segmentation of Industrial Liquid Coatings industry by Product, by Component, By Flooring companies and regions. Previous years’ data offers fact-based information on trends and growth graph while the forecasts aim to show an outlook of Industrial Liquid Coatings market for the next few years keeping in mind the advancements happening in the sector.
Industrial floors coatings market is highly fragmented in nature due to the huge presence of small manufacturing companies. Key companies include BASF, Sherwin Williams, PPG Industries, Axalta Coating System, Kansai Paints, Asian Paints, Tambour, AkzoNobel, Roto Polymers & Chemicals, Nora Systems, Sika AG, RPM International Inc, ArmorPoxy, CPC Floor Coatings, Florock Polymer Flooring Systems, Dow Chemicals, Grand Polycoats, Michelman Inc, The Lubrizol Corporation, Plexi-Chemie Inc.
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Asia Pacific market captured more than 38% revenue share in 2017 and likely to observe over 8% CAGR up to 2024. Global manufacturing industry is mainly concentrated in Asian countries, particularly in China, Japan & South Korea. Regional growth was credited to China and Japan together contributed for over 30% of the global manufacturing output. For instance, in 2017, the Government of India announced the allocation of INR 6,000 crores for the establishment of 42 mega food parks to reduce food wastage, offering lucrative opportunities to the industrial floor coatings players in the region.
Concrete segment generated more than USD 3 billion revenue share in 2017. Growing awareness on minimizing the maintenance cost has led to wider acceptance of concrete ground layering products in the market. Manufacturing ground endures constant abuse from mechanical, chemical and weather elements need superior protection. Major factor such as durability, high tensile strength, and lower cost when compared to other materials will augment industrial floor coatings industry growth.
Epoxy market was accounted over USD 1.6 billion in 2017. The product is extensively used on flooring surfaces of manufacturing facilities, food & beverage plants and warehouses. The self-leveling layers that contribute to the protection and filling hairline crack on floors augmenting product demand. Superior properties, such as exceptional adhesion, high resistance to chemicals & solvents, and flexibility, are among the major factors propelling product profile.
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Food processing segment is anticipated to experience over 7.6% CAGR from 2018 to 2024. Higher adoption of coatings to ensure effective operations in the food processing plants is projected to boost the industry growth. In addition, measures are taken to ensure optimum hygiene and safety in processing plants strong supporting product landscape. Increasing investments in the food industry to tackle issues relating to food shortage and food wastage will augment the industrial floor coatings market demand.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Industrial Liquid Coatings Industry Insights
Chapter 4. Industrial Liquid Coatings Market, Product
Chapter 5. Industrial Liquid Coatings Market, By Component
Chapter 6 Industrial Floor Coatings Market, By Flooring Material
Chapter 7. Industrial Liquid Coatings Market, By Application
Chapter 8 Industrial Floor Coatings Market, By Region
Chapter 9 Company Profiles
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Related Report:
Global Industrial Floor Coatings Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
Industrial floor coating is a clear, liquid substance applied on the floor, which hardens when dried to offer walking surface. It also provides aesthetic appeal and offers anti-skid and abrasion resistance. In 2017, the manufacturing sector accounted for a larger share in the industrial floor coating market. This dominant market position is attributed to the exponential growth of the manufacturing industry globally. With the increase in manufacturing activities, the number of production plants have also increased, which has created an opportunity for the application of industrial floor coating in these facilities. In 2017, the Asia-Pacific region accounted for the largest share and is projected to grow at the fastest rate in the industrial floor coating market from 2018 to 2023. Markets in developing countries such as India, China, South Korea, Brazil, and countries in the Middle East are projected to grow at higher rates from 2016 to 2021, owing to the rapid industrialization and commercialization in these countries.
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