Global Industrial Floor Coating Market

Global Industrial Floor Coating Market Size, Share, Growth Analysis, By Type(Epoxy, polyurethane), By Application(Outdoor and indoor) - Industry Forecast 2024-2031

Report ID: SQMIG15A2164 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 61 | Figures: 75

Global Industrial Floor Coating Market News

  • In January 2022, In a recent development, Milburn Flooring, a Copiague, NY-based company, has successfully completed the acquisition of Blendex Industrial Corp. This strategic move has led to the establishment of a new epoxy group known as Blendex by Milburn Flooring. With expansive warehouses across Westchester County, Milburn Flooring has been a prominent player in the flooring industry for over 60 years, specializing in commercial installations and serving the Hudson Valley and Long Island regions.
  • Sherwin-Williams Company purchases Oskar Nolte GmbH and Klumpp Coatings GmbH in November 2022: In order to expand its growth prospects in the industrial wood sector, Sherwin-Williams Company announced the acquisition of German wood coatings companies, Oskar Nolte GmbH and Klumpp Coatings GmbH.
  • A permeable epoxy flooring system called Vent-E will be proudly launched by Dur-A-Flex Inc., a manufacturer of high-performance, resinous flooring and wall systems, in April 2023. This ground-breaking new composition was created especially to give concrete floors more protection when their moisture and salt content exceeds what ordinary epoxy coatings can tolerate.
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Global Industrial Floor Coating Market size was valued at USD 4.60 billion in 2022 and is poised to grow from USD 4.89 billion in 2023 to USD 8.04 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2024-2031).

The competitive landscape of the Global Industrial Floor Coating Market is characterized by intense competition and the presence of numerous players striving to gain market share. Key market players focus on product innovation, technological advancements, and strategic collaborations to maintain a competitive edge. They invest in research and development activities to introduce advanced floor coating solutions with enhanced properties such as durability, chemical resistance, and customization options. Additionally, market participants aim to expand their geographic reach by establishing a strong distribution network and targeting emerging markets with high growth potential. The market is also witnessing an increased emphasis on sustainability, with players focusing on developing eco-friendly and low VOC (volatile organic compounds) coatings to align with environmental regulations and meet the growing demand for sustainable solutions. '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)', 'Akzo Nobel N.V. (Netherlands)', 'Sherwin-Williams Company (US)', 'RPM International Inc. (US)', 'Tikkurila Oyj (Finland)', 'Hempel A/S (Denmark)', 'Kansai Paint Co., Ltd. (Japan)', 'Jotun A/S (Norway)', 'Stonhard (US)', 'Axalta Coating Systems LLC (US)', 'Rust-Oleum Corporation (US)'

One key driver of the Global Industrial Floor Coating Market is the increasing emphasis on workplace safety. Industries across various sectors are prioritizing the safety of their employees and implementing measures to prevent accidents and injuries in the workplace. Industrial floor coatings play a crucial role in creating a safe working environment by providing slip resistance, chemical resistance, and impact resistance, thereby reducing the risk of accidents and ensuring the well-being of workers.

One key market trend in the Global Industrial Floor Coating Market is the increasing demand for sustainable and eco-friendly coatings. As environmental consciousness grows, there is a rising preference for industrial floor coatings that have minimal environmental impact and adhere to stringent environmental regulations. Companies in the market are focusing on developing and promoting sustainable coating solutions, such as low VOC (volatile organic compounds) formulations and water-based coatings. This trend is driven by the need to reduce carbon footprints, enhance indoor air quality, and meet sustainability goals. The integration of eco-friendly coatings aligns with the broader global shift towards sustainable practices and provides a competitive advantage to companies that prioritize environmental responsibility.

North America holds a significant share in the Global Industrial Floor Coating Market. The region's dominance can be attributed to the presence of mature industries, stringent regulatory standards, and a strong emphasis on workplace safety. Industries such as manufacturing, automotive, aerospace, and healthcare in North America extensively utilize industrial floor coatings to enhance durability, safety, and aesthetics. The region's well-established infrastructure and high awareness regarding the benefits of industrial floor coatings contribute to its dominance in the market.

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