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Industrial Floor Coating Market Share

ID: MRFR//1758-HCR | 135 Pages | Author: Chitranshi Jaiswal| April 2024

In the dynamic Industrial Floor Coating Market, companies implement a variety of strategic approaches to secure a competitive position and capture a significant market share. This industry, crucial for providing durable and protective coatings in industrial settings, demands a comprehensive strategy to navigate diverse applications and industry requirements. Here's a breakdown of key market share positioning strategies adopted by players in the Industrial Floor Coating Market, presented in a concise pointer format:

Diverse Product Portfolio:

Comprehensive Coating Solutions: Companies focus on offering a diverse range of industrial floor coatings suitable for various surfaces and applications. This includes epoxy, polyurethane, and acrylic-based coatings designed for specific industrial needs, providing versatility in product offerings.

Specialized Formulations: Developing specialized formulations for different industries, such as manufacturing, automotive, and pharmaceuticals, allows companies to cater to unique requirements and gain a competitive edge.

Quality and Durability Assurance:

High-Quality Formulations: Ensuring the production of high-quality industrial floor coatings through rigorous quality control measures enhances the reliability of products. Companies that adhere to industry quality standards and certifications build trust and credibility with customers.

Durability Enhancements: Constantly innovating to improve the durability and performance characteristics of floor coatings, including resistance to chemicals, abrasion, and impact, contributes to market differentiation. High-performance coatings attract customers seeking long-lasting and robust solutions.

Technological Advancements:

Innovative Coating Technologies: Embracing advanced coating technologies enhances performance and durability. Continuous technological advancements, such as the development of self-leveling coatings or antimicrobial formulations, contribute to improved product quality and competitiveness in the Industrial Floor Coating Market.

Digitization in Coating Solutions: Incorporating digital technologies, such as sensors or smart coatings, can provide additional functionalities like real-time monitoring of floor conditions or temperature resistance, adding value for certain industrial applications.

Global Market Expansion:

Strategic Geographical Presence: Expanding market reach by strategically entering key geographical regions with high demand for industrial floor coatings is crucial. Companies consider regional variations in regulations, climate conditions, and industry practices for effective market adaptation.

Local Partnerships: Forming partnerships with local distributors, manufacturers, or construction companies aids in navigating regional nuances efficiently. Local collaborations enhance market penetration and provide insights into specific market requirements.

Sustainability Initiatives:

Environmentally Friendly Formulations: Responding to the increasing demand for sustainable solutions, companies develop floor coatings with environmentally friendly attributes. This includes formulations with reduced volatile organic compounds (VOCs), water-based alternatives, and adherence to green building standards.

Recyclability Considerations: Coatings designed with recyclability in mind, along with clear guidance on environmentally responsible disposal, appeal to eco-conscious industries and consumers. A commitment to sustainability aligns with global environmental trends.

Educational Outreach and Training:

Technical Support Services: Offering technical support and expertise to customers, especially in the proper application of industrial floor coatings, enhances customer satisfaction. This level of support establishes the company as a valuable resource and contributes to market share growth.

Educational Initiatives: Providing educational content about the benefits, uses, and proper application techniques of floor coatings helps raise awareness among potential customers. Companies actively engaging in educating the market contribute to increased understanding and adoption.

Strategic Pricing and Cost Competitiveness:

Competitive Pricing Strategies: Implementing strategic pricing based on market analysis and competitor positioning helps companies maintain a competitive edge. Offering competitive prices without compromising on quality is essential in the Industrial Floor Coating Market.

Cost Optimization: Implementing cost-effective production processes and supply chain management ensures companies can provide competitive pricing. Achieving cost competitiveness is crucial in a market where pricing considerations significantly influence customer decisions.

Digital Marketing and Online Presence:

Digital Channels Utilization: Leveraging digital marketing strategies, including online advertising, content marketing, and social media, helps companies reach a broader audience. Establishing a strong online presence contributes to brand visibility and facilitates customer engagement.

E-commerce Platforms: Offering industrial floor coatings through e-commerce platforms provides convenient access to customers. An online sales presence allows companies to cater to a global market and streamline the purchasing process for both B2B and B2C customers.

Strategic Acquisitions and Collaborations:

Acquisition of Complementary Businesses: Acquiring businesses that complement the Industrial Floor Coating Market, such as manufacturers of related materials or companies with innovative technologies, helps diversify product offerings and strengthen market presence.

Collaborative Ventures: Forming collaborations with industry players, research institutions, or technology providers fosters knowledge exchange and can lead to shared development initiatives. Collaborative ventures enhance overall market positioning through shared expertise.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2023
Historical Data 2018 & 2020
Forecast Period 2023-2030
Growth Rate 6.30% (2023-2030)

Global Industrial Floor Coating Market Overview

The  Industrial Floor Coating Market Size was valued at USD 4.8 Billion in 2022 and is projected to grow from USD 5.1 Billion in 2023 to USD 7.35 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.30% during the forecast period (2023 - 2030). The industry growth is mainly attributed to the increasing investments in green buildings across the U.S. Green buildings incorporate the use of eco-friendly and lightweight materials to maintain and improve the indoor air quality and efficiency of energy, water, and other resources. The concrete floor coatings are designed to be VOC-free and eco-friendly. This factor is expected to drive the market during the forecast period. The world is anticipated to witness inclined growth over the coming years. The growth is attributed to the rising infrastructure developments, business firms, and educational institutions majorly in the Asia Pacific region.

  Industrial Floor Coating Market Overview          

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Industrial Floor Coating Market Trends

  • Growing Demand from Industrial Applications is boosted the market growth

The growth of the construction industry and the rising use of coatings in industrial, commercial, and residential applications are driving the industry. The country contributed to the maximum share of the market owing to abundant resources and high buying power, which, in turn, is expected to drive the regional market over the coming years. Due to the carcinogenic and combustible nature of solvents, there are several laws in North American nations, such as the U.S., in terms of coatings manufacture. Powder-based coatings, on the other hand, are environmentally beneficial since they do not include solvents and thus do not produce Volatile Organic Compounds (VOCs), which cause air pollution. 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, powder coatings are gaining popularity since they have an advantage over other coatings, in terms of environmental regulations, given their solvent-free and VOC-free nature. This is likely to propel market growth over the coming years. Epoxy, polyurethane, and polyaspartic are the majorly used products as concrete floor coatings across the globe. Product types analyzed in the report include acrylic, epoxy, polyurethane, polyaspartic, and others. Epoxy concrete floor coatings include solids, solvent-borne, and water-based epoxy coatings. Polyurethane concrete floor coatings cover moisture-cure, solvent-borne, solids, and water-based coatings. Other product types include polyuria-based coatings.

Industrial Floor Coating Market Segment Insights

Industrial Floor Coating Product Insights

The  Industrial Floor Coating Market segmentation, based on Product, includes Epoxy, Polyurethanes, Polyaspartic. The epoxy segment led the industry and accounted for more than 60.0% share of the overall revenue in 2021 owing to the product’s great heat and chemical resistance, good adhesion, and good electrical insulation. Furthermore, the cheap cost of epoxy concrete floor coatings in comparison to their counterparts is likely to benefit the segment growth. The polyaspartic segment is anticipated to expand at the fastest CAGR during the forecast period as these products can perform at a wide range of temperatures. Based on product, the industry has been further segmented into epoxy, polyurethane, acrylic, polyaspartic, and others. 

Industrial Floor Coating Application Insights

Based on Application, the  Industrial Floor Coating Market segmentation includes Outdoor, Indoor. The indoor application segment dominated the industry in 2021 and accounted for a revenue share of more than 65.0%. The outdoor application segment is anticipated to register the fastest CAGR over the forecast period. The increasing penetration of sports stadiums in the U.S. and Canada due to the popularity of sports like football, rugby, ice hockey, and tennis is expected to boost the role of flooring solutions. Based on application, the overall industry has been further bifurcated into indoor and outdoor applications. 

Figure 2:  Industrial Floor Coating Market, by Application, 2023 & 2030 (USD Billion)

Industrial Floor Coating Market, by Application, 2023 & 2030           

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Industrial Floor Coating Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific dominated the market in 2021 with over 35.0%. The growth of the market is primarily attributed to the increasing construction industry across the globe. The COVID-19 pandemic had severely affected the supply value chain, which, in turn, is limiting the flow of raw materials and transportation of finished products. Furthermore, the liquidity crisis and weakened economy have dropped construction activities around the globe, which will decrease the market value demand shortly.



Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review 

A positive economic outlook and growth in the residential and non-residential construction sectors are expected to create growth opportunities for manufacturers, contractors, and service providers across the globe. However, one of the biggest threats is the uncertainty around the trade relationships with the U.S. Another potential risk is the Canadian high household debt, making households more vulnerable to an economic or interest rate shock.

Industrial Floor Coating Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Industrial Floor Coating market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Industrial Floor Coating industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Industrial Floor Coating. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Industrial Floor Coating industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Industrial Floor Coating industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Industrial Floor Coating market players, including BASF SE (Germany), PPG Industries Inc (US), Sika AG (Switzerland), 3M (US), A&I Coatings (Australia), and others, are attempting to increase market demand by funding R&D initiatives.

BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.

Also, PPG Industries is a company that manufactures and distributes paints, coatings, and specialty materials. The company operates through two business segments: Performance Coating and Industrial Coating. It supplies coatings and specialty materials to customers in a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment.

Key Companies in the Industrial Floor Coating market include

  • BASF SE (Germany)

  • PPG Industries Inc (US)

  • Sika AG (Switzerland)

  • 3M (US)

  • A&I Coatings (Australia)

  • CPC Floor Coatings (US)

  • Watco Group (Singapore)

  • Asian Paints PPG Pvt Ltd. (India)

  • Henkel AG & Co. KGaA (Germany)

  • MAPEI (Italy).

Industrial Floor Coating Industry Developments

January 2022 ‚ÄstMilburn Flooring, Copiague, NY-based company, has announced the acquisition of Blendex Industrial Corp., adding up an epoxy group called Blendex by Milburn Flooring. Milburn Flooring has various warehouses expanding into Westchester County, they service the Hudson Valley, and Long Island has been influential in the flooring industry as commercial installer for over 60 years.

December 2021- a private equity firm specializing in investments in industrial growth companies, Arsenal Capital Partners, has announced Seal For Life Industries, its global industrial coatings platform, has acquired two privately owned specialty industrial coatings companies named Verdia, Inc., and Mascoat Ltd. 

Industrial Floor Coating Market Segmentation

Industrial Floor Coating Product Outlook

  • Epoxy

  • Polyurethanes

  • Polyaspartic

Industrial Floor Coating Application Outlook

  • Outdoor

  • Indoor

Industrial Floor Coating Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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