Industrial Floor Coating Market: Overview
Industrial floor coating is a liquid substance applied on the floor. These turn into hard substances when dry, thereby providing walking surface. Industrial floor coatings offer resistance to abrasion, chemicals, etc. The trend of using seamless flooring is gaining prominence in the industrial floor coating market.
Industrial Floor Coating Market: Key Segments
The global industrial floor coating market can be segmented based on binder type, flooring material, coating component, end-user, and region. In terms of binder type, the global industrial floor coating market can be classified into epoxy, polyaspartic, and others (including acrylic and polyurethane). The epoxy segment is expanding significantly, as epoxy binders possess attributes such as high adhesion, flexibility, and solvent resistance. Based on flooring material, the global industrial floor coating market can be divided into concrete, mortar, and terrazzo. The concrete segment dominates the market, led by its easy installation process, cost efficiency, durability, and high tensile strength. In terms of coating component, the global industrial floor coating market can be categorized into one-component, two-component, three-component, four-component, and five-component. The four-component segment leads the industrial floor coating market owing to its features such as, smooth, hygienic, and easy clean floor finishing. Based on end-user, the global industrial floor coating market can be divided into manufacturing, aviation & transportation, food processing, science & technology, and others. The others segment includes hospitality, healthcare, and fire & public safety industries. The manufacturing segment is gaining momentum due to the rise in production plants and increase in industrialization in emerging economies.
Industrial Floor Coating Market: Trends & Developments
The industrial floor coating market is expanding significantly owing to the increase in demand for these coatings in the food processing industry. Additionally, rapid growth in urbanization and increase in government initiatives to provide improved manufacturing facilities in emerging economies are boosting the industrial floor coating market. Rise in demand for chemical resistant and tensile strength flooring is propelling the global industrial floor coating market. However, high cost of raw materials and implementation of stringent government regulations on usage of these coatings in the food industry are hampering the global industrial floor coating market. Nevertheless, rise in infrastructure and commercial construction is creating opportunities for the global industrial floor coating market.
Industrial Floor Coating Market: Regional Outlook
Based on region, the global industrial floor coating market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to account for the major share of the global industrial floor coating market during the forecast period due to the rise in industrialization and commercialization is emerging economies such as China, India, Vietnam, and Malaysia. North America and Europe hold significant share of the industrial floor coating market owing to the high demand for these coatings in aviation & transportation and food processing industries. The global industrial floor coating market in Latin America is anticipated to expand substantially owing to the increase in urbanization and commercialization activities.
Industrial Floor Coating Market: Key Players
Key players operating in the global industrial floor coating market include PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., BASF SE, RPM International Inc., 3M Company, The DOW Chemical Company, Koninklijke Dsm N.V., The Lubrizol Corporation, Asian Paints PPG Pvt. Ltd., Florock Polymer Flooring Systems, Nora System, Inc., Maris Polymers Sa, Plexi-Chemie, Inc., and Grand Polycoats.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.