The Industrial Floor Coatings Market could be worth $7.19 billion by 2027, Says Global Market Insights Inc.

The growth of the Industrial Floor Coatings Market is driven by rising FDI investments in the construction sector along with stringent government policies to improve safety standards in manufacturing plants, says this report.

Selbyville, Delaware, Aug. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Global Market Insights Inc., the global Industrial Floor Coatings Market was valued at $4.5 billion in 2020 and is slated to hit $7.19 billion by the end of 2027, registering with a CAGR of 7.2% from 2021 to 2027 due to the increase in manufacturing and warehousing facilities in developing nations. The report delivers a detailed analysis of the overall market estimations & size, major pockets of investment, top growth strategies, opportunities & drivers, shifting market trends, and competitive scenario.

The rapidly growing industries in the emerging economies of Asia and Africa have offered a thriving market environment. Manufacturers are preferring floor coatings due to their superior properties such as chemical resistance, high durability, economical, ease of maintenance, and quality finish. The capacity expansion of manufacturing units in developed regions will further foster the product demand in the near future. However, fluctuating prices of raw materials will create challenges for industry participants. Furthermore, the ongoing COVID-19 pandemic has severely affected the industrial floor coatings market share, limiting revenue generation.

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The polyaspartic segment will grow over 7% CAGR in terms of revenue during the study timeframe. Polyaspartic floor coatings offer corrosion-resistant properties that increase applications. A rise in the chemical and food processing industries and the demand for instant setting, excellent finish, and UV resistant products will augment the polyaspartic flooring market in the coming years.

The single-component floor coating segment registers more than 5.5% CAGR in terms of revenue by 2027 owing to easy usage, longevity, and suitability. This user-friendly product offers a good experience coupled with various advantages such as low VOCs, easy cleanup, less odor, and low flammability.

Warehousing segment revenue will reach more than 1,185 USD million by 2027 driven by rapidly increasing warehousing facilities across the developing regions to support the robust growth of manufacturing and food processing industries. Rising investment for storage space development along with the growing industrialization will create a positive outlook for the industrial floor coatings industry. The need for strong and high mechanical resistant floors in storing facilities will contribute to the warehousing segment in the coming years.

The market share of terrazzo flooring will grow at a decent CAGR of around 5.5% by 2027 due to its recycled nature and can also replace concrete owing to its eco-friendly nature and aesthetic appearance. In addition, high flexibility and comprehensive design capabilities provide a positive outlook for the terrazzo flooring material.

Europe to continue its top status in terms of revenue

Europe is a developed market with a strong presence of giant manufacturing industries. Countries, such as Germany, France, the UK, and Italy, are likely to contribute to regional industrial floor coatings market growth owing to favorable government & institutional regulations and increasing adoption of effective manufacturing and material handling trends. The region held around 20% revenue share in 2020.

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Leading market players:

The numerous players participating in the global industrial floor coatings industry include Sherwin-Williams, Akzo Nobel, Sika AG, RPM International, Dow Chemical, PPG Industries, and Kansai Paints. Market leaders are continuously engaging themselves in several strategies including research & innovations, mergers & acquisitions, and capacity expansion.

About Global Market Insights Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.


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