Industrial Floor Coatings Market Study for 2020 to 2024 providing information on Key Players, Growth Drivers and Industry challenges

Rapid expansion in the global industrial sector is anticipated to favor industrial floor coatings market growth. Several manufacturing facilities nowadays are getting aware about the benefits of floor coatings. Companies are actively exploring new avenues to lower their maintenance costs while, at the same time, combating harsh working conditions like excessive heat and chemical spills.

As a result, they have started to incorporate durable floor coatings that can also minimize the wear and tear caused by heavy machineries. The product usually offers a protective outer coating that spreads over the ground surface. With rising demand for flooring with high mechanical resistance that can withstand constant wheels traffic, the industrial floor coatings market may accrue sizable proceeds.

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Numerous floor coating companies are working on improving their product’s characteristics by leveraging new technological innovation. Apparently, the industrial floor market abodes a large number of small manufacturing firms, but also houses a promising share of prominent companies like Sherwin-Williams, BASF, PPG Industries, Roto Polymers, 3M, Akzo Nobel, Axalta, Kansai Paints, Florock Polymer and Maris Polymer that are constantly reshaping their business outlook.

What are the key factors impacting industrial floor coatings market size?

Generally, lower temperatures affect the performance of floor coating as it contains complicated chemical composition. While manufacturing these products, manufacturers tend to add multiple organic chemicals, leading to a complicated chemical composition. Thus, restricted performance at specific temperature conditions could hamper the adoption of industrial floor coatings.

Why are epoxy floor coatings among high demand across manufacturing companies?

Epoxy floor coatings are widely used in food & beverage plants, warehouses and manufacturing facilities owing to its self-leveling layers that aid in filling and protecting the floor from hairline cracks. Earlier in 2017, the epoxy industrial floor coating had generated more than USD 1.6 billion and is estimated to maintain a healthy growth over the coming years.

Moreover, the superior characteristics of epoxy, like high resistance to chemicals & solvents, flexibility, and exceptional adhesion, could further enhance industrial floor coatings industry outlook.

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How will Asia Pacific contribute to industrial floor coating industry share?

Asia Pacific is considered to be a lucrative revenue ground for industrial floor coatings companies. Earlier in 2017, the region had successfully controlled over 38% of the overall market revenue share. While, a study conducted by Global Market Insights, Inc., estimates that APAC industrial floor coatings market may record a CAGR of 8% over 2024.

A huge chunk of the global manufacturing industry is situated in APAC, precisely in countries like Japan, South Korea, and China. As a matter of fact, Japan and China together account for more than 30% of the total manufacturing output. The Asian Development Bank even claims that countries in Asia could invest nearly USD 9 trillion in the development of overall infrastructure.

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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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