The industrial floor coating market size is estimated to grow from USD 4.75 Billion in 2016 to USD 6.07 Billion by 2021, at a CAGR of 5.0% between 2016 and 2021.
The global industrial floor coating market is projected to witness decent growth in the next few years due to expansion of industrial activities as a result of improving economic condition. Rapid industrialization in emerging economies and increase in number of production facilities in developing countries are creating growth opportunities for the industrial floor coating market.
Food Processing Sector to Gain Maximum Traction
| Floor coating
- The food processing sector is projected to grow at a higher CAGR during the forecast period
- The growth can be attributed to the increase in concerns for quality and purity maintenance of food products and to ensure a hygienic environment inside the production facility
- Additionally, characteristics such as easy application, chemical resistance, and abrasion resistance have made it essential to apply industrial floor coating in the processing facilities
Epoxy - Fastest-growing Segment
- On the basis of binder type, the epoxy segment is projected to grow at the highest CAGR from 2016 to 2021
- The growth can be attributed to the industrialization in growing economies and setting up of new manufacturing facilities
- The dominant market positon of epoxy can be attributed to its superior properties such as high adhesion, flexibility, and chemical and solvent resistance
Asia-Pacific - The Largest Market Share
The Asia-Pacific region contributes a major market share in the global industrial floor coating market. It is also projected to register the highest growth from 2016 to 2021, while India is projected to be fastest-growing country-level market in the region for the industrial floor coating market. North America is projected to grow at the second-highest rate between 2016 and 2021, with the U.S. registering the highest growth rate in the region. Emerging economies such as UAE, Brazil, Saudi Arabia, and other countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2021.
The global market for industrial floor coating is dominated by major players of the construction paints & coating industry. These companies use various strategies such as mergers & acquisitions, investments & expansions, and new product launches to strengthen their position in the market.
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