Industrial Floor Coatings Market to Hit $6 Billion by 2024: Global Market Insights, Inc.
01 Aug, 2017, 11:30 BST
OCEAN VIEW, Delaware, August 1, 2017 /PRNewswire/ --
The 2017-2024 industrial floor coatings market research by Global Market Insights, Inc. says epoxy cementitious is the fastest growing segment forecast to rise at over 6.5% up to 2024 as double component accounted for over 50% of market share in 2016
The industry growth report "Industrial Floor Coatings Market Size By Product (Epoxy, Polyaspartic, Polyurethane, Acrylic, Epoxy Cementitious, Methyl Methacrylate), By Component (Single Component, Double Component, Three Component, Four Component), By Flooring Material (Concrete, Mortar, Terrazzo), By Application (Manufacturing, Food Processing, Aviation & Transportation, Warehousing), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Qatar, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024." by Global Market Insights, Inc. says Industrial Floor Coatings Market is estimated to cross USD 6 billion by 2024.
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Increasing number of manufacturing units coupled with rising industrialization is anticipated to drive industrial floor coatings market growth. Customer preference for better quality finishing and chemical resistant flooring will support product demand.
Strong application potential in food processing industry to maintain hygiene, quality and purity will fuel industry growth. Global food processing industry will register 6% growth through to 2024. The industry contributes significantly in industrial floor coatings revenue generation owing to rising quality standards.
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Double component accounts for over 50% of market share in 2016. Offering high toughness to withstand maximum possible friction on the floor is among the key feature driving product demand. Chemical resistance towards various organic and inorganic acids, wastes, alkalis, water and petroleum products will enhance growth.
Epoxy cementitious is the fastest growing segment increasing over 6.5% rate up to 2024. Effective layering with single coats, high resilience and excellent resistance to chemicals and mechanical impacts will propel demand.
Oscillating crude oil prices will impact industrial floor coatings market price trend. R&D on bio based coating materials owing government regulations on material residues will open new avenues in the industry.
Browse key industry insights spread across 210 pages with 317 market data tables & 12 figures & charts from the report, "Industrial Floor Coatings Market Forecast, 2017 - 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-floor-coating-market
Concrete contributed over 85% overall industry share in 2016, superior features including better wear & tear and scratch resistance has positively influenced material demand. Ease of customization, low maintenance and appealing finishing drives the product consumption in several industries.
Growing demand for strong and high mechanical resistant floors in storehouses will drive demand in warehousing segment. Industrial floor coating demand from aviation and transportation stood at over 115 kilo tons in 2016.
APAC industrial floor coatings market is anticipated to be valued over USD 2.5 billion by 2024. China and India are projected to be among the key revenue generating countries. Favorable FDI norms along with increase in government spending to expand manufacturing sector will drive regional growth.
Germany will observe over 6% growth up to 2024. Presence of major automotive manufacturing facilities in the country will drive regional industry growth. Germany generated over USD 30 million from aviation and transportation application.
Presence of numerous multinational and domestic manufacturers makes the global industrial floor coatings market share highly competitive and fragmented in nature. Mergers & acquisitions, product portfolio expansion and supply agreements are some of the business development strategies adopted major industry players.
Asian Paints, Sherwin-Williams, RPM International, Akzo Nobel, PPG Industries, BASF, Axalta Coating Systems, Roto Polymers, Tambour, Maris Polymers, Nora System, Milliken & Company, ArmorPoxy and Florock Polymer are among the key industry players. Other notable companies includes DSM, Dow Chemical, Apurva India, Koninklijke Grand Polycoats, The Lubrizol, Plexi-Chemie, Michelman, Pro Maintenance and Ardex Endure.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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