"Industrial Floor Coating Market by Binder Type (Epoxy, Polyaspartic), Flooring Material (Concrete, Mortar, Terrazzo), End-use Sector (Manufacturing, Aviation & Transportation, Food Processing), Coating Component, and Region - Global Forecast to 2021
Seattle, WA -- (SBWIRE) -- 03/14/2017 -- The global industrial floor coating market is projected to witness decent growth in the next few years due to expansion of industrial activities as a result of improving economic condition. Rapid industrialization in emerging economies and increase in number of production facilities in developing countries are creating growth opportunities for the industrial floor coating market.
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Food processing sector to gain maximum traction during the forecast period
The food processing sector is projected to grow at a higher CAGR during the forecast period. The growth can be attributed to the increase in concerns for quality and purity maintenance of food products and to ensure a hygienic environment inside the production facility. Additionally, characteristics such as easy application, chemical resistance, and abrasion resistance have made it essential to apply industrial floor coating in the processing facilities.
Epoxy segment projected to be the fastest-growing during the forecast period
On the basis of binder type, the epoxy segment is projected to grow at the highest CAGR from 2016 to 2021. This growth can be attributed to the industrialization in growing economies and setting up of new manufacturing facilities. The dominant market positon of epoxy can be attributed to its superior properties such as high adhesion, flexibility, and chemical and solvent resistance.
Asia-Pacific region constitutes the largest market share in the industrial floor coating market
The Asia-Pacific region contributes a major market share in the global industrial floor coating market. It is also projected to register the highest growth from 2016 to 2021, while India is projected to be fastest-growing country-level market in the region for the industrial floor coating market. North America is projected to grow at the second-highest rate between 2016 and 2021, with the U.S. registering the highest growth rate in the region. Emerging economies such as UAE, Brazil, Saudi Arabia, and other countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2021.
The global market for industrial floor coating is dominated by major players of the construction paints & coating industry. BASF SE (Germany), PPG Industries Inc. (U.S.), 3M Company (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (Netherlands), Koninklijke DSM N.V. (Netherlands), RPM International Inc. (U.S.), The Dow Chemical Company (U.S.), The Lubrizol Corporation (U.S.), and Asian Paints PPG Pvt. Limited (Mumbai). Other key players including Florock Polymer Flooring Systems (U.S.), Nora System, Inc. (Germany), Maris Polymers SA (Greece), Plexi-Chemie, Inc. (U.S.), Grand Polycoats (India), Ardex Endure (India), A&I Coatings (Australia), Milliken & Company (U.S.), Michelman, Inc. (U.S.), Roto Polymers and Chemicals (India), CPC Floor Coatings (U.S.), Tambour (Israel), ArmorPoxy (India), and Pro Maintenance, Inc. (U.S.) are the leading manufacturers operating in the industrial floor coating market. These companies use various strategies such as mergers & acquisitions, investments & expansions, and new product launches to strengthen their position in the market.
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