Industrial Floor Coating Market: A Strong Growth Outlook from 2023 to 2035
Research Nester assesses the growth and market size of global industrial floor coating market which is anticipated to be on account of the growing knowledge about the advantages of floor coatings and growing construction sector.
Research Nester’s recent market research analysis on “Industrial Floor Coating Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global industrial floor coating market in terms of market segmentation by end use industry, product, component, flooring material, and by region.
Growing Warehouse Sector to Promote Global Market Share of Industrial Floor Coating
The global industrial floor coating market is estimated to grow majorly on account of the increasing warehouse industry. For instance, to avoid accidents, the industrial flooring provides a slip-resistant surface for the warehouse and is considered a deal industrial flooring system for the warehouse as it facilitates smooth and seamless movement of equipment for efficient operations.
The global industrial floor coating market is estimated to grow majorly on account of the increasing spending in green buildings. For instance, industrial floor coatings are widely used in green buildings as they release low VOC as compared to traditional coatings. As a result, the worldwide industrial floor coating market is expected to rise rapidly during the forecast period.
Some of the major growth factors and challenges that are associated with the growth of the global industrial floor coating market are:
Growth Drivers:
- Surge in Usage of Heavy Machinery in Automotive Sector
- Rising Industrial Activities
Challenges:
The varying prices of the raw material and the scarcity of raw materials are some of the major factors anticipated to hamper the global market size of industrial floor coating. For instance, factors such as geopolitical issues, or amendments in government policies affect the cost of raw materials required for production as a result producers shift towards alternate sources which are expensive. Besides this, international barriers also act as a challenge for the supply of raw materials which leads to unavailability of the materials.
By end-user, the global industrial floor coating market is segmented into aviation & transportation, manufacturing, warehousing, food processing, and others. The manufacturing segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth can be attributed to the rising count of manufacturing plants. For instance, it is expected that as the number of manufacturing facilities grows the demand for industrial floor coating will also rise. Buildings in manufacturing facilities require long-lasting industrial and factory floor coating systems since they experience heavy traffic, need to constantly shift huge equipment, and use extremely severe chemicals in their processes. In addition, by product, the epoxy segment is expected to garner a significant share on account of growing applications of industrial floor coating in the healthcare sector. Epoxy is a simple-to-clean and quick-to-install floor coating with aesthetic benefits, and is a popular floor technology that can be found in the majority of medical facilities since it is highly durable, adaptable, and long-lasting. Furthermore, epoxy flooring provides a durable covering that is resistant to chemicals and liquids commonly used in healthcare, and allows to maintain the interior elegance of the medical Centre while meeting the needs of the patients and healthcare professionals.
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By region, the Asia Pacific industrial floor coating market is to generate the highest revenue by the end of 2035. This growth is anticipated by rising construction sector in the region. For instance, the growing construction industry results in increasing commercial and residential buildings which require industrial floor coatings to protect the floors and provide a safe working environment. The construction industry in India is expected to grow by over 16% in 2022.
In addition, the market in North America is to generate the second-largest revenue in the near future on account of rising funding in research and development for industrial floor coating in nations including in countries such as the U.S. and Canada. Further, Europe is also set to gain a notable share of revenue by the end of 2035 owing to the growing count of commercial buildings in the region resulting in high demand for industrial floor coatings.
This report also provides the existing competitive scenario of some of the key players of the global industrial floor coating market which includes company profiling of The Dow Chemical Company, 3M Company, Astellas Pharma Inc., PPG Industries, Inc., Akzo Nobel N.V., A & I Coating Ltd, Axalta Coating Systems, LLC, RPM International Inc., The Lubrizol Corporation
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