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Industrial Floor Coating Market Worth USD 7.35 billion by 2029, at a CAGR of 5.6%, Size, Trends, Growth Statistics and Regional Forecast
Industrial Floor Coating Market Overview:Floor coating systems for industrial facilities have the toughest job in the building. They must survive regular traffic and mechanical wear, followed by material abuse such as corrosive liquid, extreme heat, and hard impact. The shifting trend toward floor protection in the manufacturing, transportation, chemical, and food-processing industries has stimulated the industrial floor coating demand. An increasing need to certify manufacturing plants due to rising awareness among end-users has propelled the market growth.
The global industrial floor coating market size is projected to grow from USD 4.5 billion in 2020 to USD 7.35 billion by 2029, at a CAGR of 5.6% from 2022 to 2029.
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Industrial Floor Coating Market Key Players
The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global Industrial Floor Coating market industry.
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Sherwin-Williams, Akzo Nobel, Sika AG, RPM International, Dow Chemical, PPG Industries, and Kansai Paints, BASF SE and Others
Recent Developments
In December 2019, AkzoNobel acquired Mauvilac Industries Limited (Africa), a manufacturer of paint and coating. This initiative includes the acquisition of Mauvilac Industries' local manufacturing facility, four concept stores, and a strong distribution network. This strategic initiative is expected to strengthen AkzoNobel's footprint in Sub-Saharan African markets.
In October 2019, AkzoNobel introduced a new range of powder coating 'Interpon Redox,' which is an ideal solution for corrosion protection. This powder coating may be used to all array of surfaces, substrates, and environments (such as cable cars, window frames, wind turbines, and chemical plants).
In July 2019, AkzoNobel invested USD 4 million (3 million Euros) in Changzhou powder coatings plant in China, with an aim to enhance its production facilities as well as supply chain. Furthermore, the company invested in adding three new production lines at the same plant in China.
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Industrial Floor Coating Market Segmentation:
Industrial Floor Coating Market by Resin Type, 2020-2029, (USD Billion)
Epoxy
Polyurethane
Hybrid
Others
Industrial Floor Coating Market by Component, 2020-2029, (USD Billion)
Single Component
Double Component
Triple Component
Others
Industrial Floor Coating Market by End User, 2020-2029, (USD Billion)
Manufacturing
Aviation
Transportation
Food Processing
Science & Technology
Others
Growth Factors:
Increasing demand from the Industrial Floor Coating industries
The growing use of Industrial Floor Coating in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Industrial Floor Coating Market
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Industrial Floor Coating Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Industrial Floor Coating Market Trends
- The report identifies, determines, and forecasts the Global Industrial Floor Coating Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Industrial Floor Coating Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Industrial Floor Coating Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Industrial Floor Coating Market.
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