Industrial Floor Coatings Market Size, Share and Industry Analysis Report by Product (Epoxy, Polyaspartic, Polyurethane, Acrylic, Epoxy Cementitious, Methyl Methacrylate), Component (Single Component, Double Component, Three Component, Four Component), Fl

Industrial Floor Coatings Market Size, Share and Industry Analysis Report by Product (Epoxy, Polyaspartic, Polyurethane, Acrylic, Epoxy Cementitious, Methyl Methacrylate), Component (Single Component, Double Component, Three Component, Four Component), Flooring Material (Concrete, Mortar, Terrazzo) and Application (Manufacturing, Food Processing, Aviation & Transportation, Warehousing), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028

The global industrial floor coatings market is anticipated to expand at a substantial rate through 2028 owing to rising demand for aesthetic floor coatings.

Recently, major industry players have been boosting their R&D operations. Moreover, partnerships among key companies for overseas expansion have been beneficial for market growth. For instance, in June 2022, The Sherwin-Williams Company, the U.S.-based paint and coating manufacturer, announced its plans to acquire Gross & Perthun GmbH, a manufacturer, developer, and distributor of coatings principally for the heavy equipment as well as transportation industries situated in Mannheim, Germany.

The industrial floor coatings market has been bifurcated in terms of type, component, flooring material, application, and region.

Based on type, the industry has been divided into epoxy, polyurethane, polyaspartic, acrylic, methyl methacrylate (MMA), and epoxy cementitious. The acrylic segment registered a significant market share of over 4.5% in 2021 and is anticipated to expand at a steady rate through the forecast period. Extensive use of acrylics in manufacturing paints & coatings for commercial, industrial, and residential applications is poised to bolster segmental growth in the forthcoming years.

Meanwhile, the epoxy cementitious segment is slated to record robust growth through 2028. Epoxy cementitious is widely used in the leveling layer of damp concrete floors, which is foreseen to fuel product demand over the following years. The MMA segment is set to witness exponential growth over the review timeline due to growing product demand in end-use industries, such as medical, food and beverage processing, aviation, manufacturing, and warehousing.

With respect to component, the industrial floor coatings market has been classified into single, double, three, and four. The single segment is speculated to amass significant gains over the forecast period as single component floor coatings offer benefits like ease of use and convenience. They also have no limited pot life and are available in ready-to-use form, which is foreseen to propel segmental adoption in the future.

In terms of application, the sector has been segmented into manufacturing, food processing, aviation & transportation, and warehousing. The warehousing segment registered a positive revenue share of approximately 16.5% in 2021 and is primed to exhibit steady growth through 2028. Floor coatings are essential in carrying out warehousing operations to ensure safety and efficiency, and these attributes are estimated to propel segmental demand.

From the regional perspective, the Latin America industrial floor coatings industry is projected to advance at a sturdy CAGR of more than 6.4% over the forecast timeframe. Meanwhile, the Middle East & Africa industrial floor coatings market is expected to grow at a positive rate over the forthcoming years due to increasing concerns pertaining to spilled paraffinic substances across chemical industries in MEA.