industrial floor coating market 2020 Application Demographic Industry, Production Demand Analysis

 

industrial floor coating market Scenario:

Industrial floor coatings provide a protective covering to floors in industrial and commercial facilities by increasing the durability of concrete and other flooring materials. The purpose of industrial floor coatings may be decorative, functional, or both.

Dominant Players

The major vendors operating in the global industrial floor coating market are BASF SE (Germany), Asian Paints PPG Pvt Ltd. (Mumbai), PPG Industries Inc. (U.S.), 3M Company (U.S.), A&I Coatings Pty Ltd (Australia), Nora Systems, Inc. (Germany),The Dow Chemical Company (U.S.) and CPC Floor Coatings (U.S.) and others.

Market Dynamics:

Growing Industrialization And Economic Growth Are The Prime Determinants Of The Market

Increasing industrialization led by the developing world especially China and India is the prime driver of the market. The growth is driven by India and China with more than 7 % and 6 % respectively. The increase in industrialization has shifted to Africa region led by Ivory Coast, Kenya, Rwanda, Senegal, and Tanzania. These states are all expected to grow at impressive rates between 6 to 7 % or more. The growing population and per capita income are driving a tremendous demand for industrialized goods, which is feeding the market demand.

Product Development And Work Place Regulations Are Driving A Significant Demand

Product development such as chemical resistant, heat resistant, and electrostatic resistant floor coatings are creating a demand for the market. The need for electrostatic coatings in electronics industry owing to their safety hazards is driving further growth. Growing employees safety regulations are other drivers of growth. Demand for environment-friendly products and ease of maintenance, waterproofing, slip resistance, and puncture resistance coatings are driving the market growth. The demand is expected to be led by the pharmaceutical industries for microbial resistant coatings designed to reduce contamination.

High Cost And Lack Of Awareness Is Expected To Hamper The Market

High cost and lack of awareness of the benefits of coatings are the prime restraints on the market.

Regional Analysis

The Asia Pacific is the fastest and largest growing market owing to rise in the number of industries and the increase in economic growth in emerging economies such as China and India.

North America market is expected to be led by the U.S. owing to technological advancements, substantial purchasing power, and demand for high-value advanced coatings such as Terrazzo. The Europe market is dominated by Germany, France and the U.K. The Middle East and Africa market is expected to be dominated by the oil and chemicals sector of Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.

Segmentation:

To generate an accurate understanding of the global industrial floor coating size market, the report is segmented by flooring material, application, and regions.

Based on flooring material, the market is segmented into concrete, mortar, and terrazzo.

Based on application, the market is segmented into residential, commercial, and industrial.

Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa.

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