ANALYSIS
Industrial Floor Coatings Market Growing at 7.2% CAGR to Cross $ 7 Billion by 2024 Report by Global Market Insights Inc. Selbyville, United States
A
ccording to a new research report by Global Market Insights, Inc.
Industrial floor coatings are widely used in food & beverage processing
industrial floor coatings market is estimated to exceed
facilities to maintain quality, purity & hygiene. Rising urbanization has
USD 7 billion by 2024. Favorable macroeconomic conditions coupled
influenced consumption patterns, increased disposable income will
with rising industrialization in emerging nations will drive the industry
make processed foods affordable for a larger share of the populace.
share. According to the Asia Development Bank, Asian countries
This will foster growth in the food processing industry and create
are expected to invest USD 9 trillion for infrastructure development
substantial opportunities for the product.
between 2010 and 2020 to augment industrialization and urbanization.
Epoxy dominated the market generated over USD 600 million revenue
This will create a surge in the number of manufacturing facilities, thereby
in 2017. They are used as surface coatings in manufacturing facilities,
fueling industrial floor coatings demand.
food & beverage industry and warehousing owing to its superior
Europe market is characterized by the presence of key industrial floor
resistance against hot tire pickups, abrasion and heavy impact. Easy
coatings manufacturers such as BASF, Dow Chemical and AkzoNobel.
installation, durability and low maintenance are key factors luring
Strong demand from both domestic and international markets for major
consumers towards the epoxy-based surfaces.
industrial output such as automotive, chemical and food will create
Double component held over 50% of the volume share in 2017.
lucrative opportunities for industrial floor coverings market in the region.
High degree of tolerance against friction is driving its popularity in
North America Industrial Floor Coatings Market, By Application, 2017 & 2024 (USD Million) 2017 2024
292.0
Š global market insights
230.4
Manufacturing
08
N. 29 - 2019 APRIL - ipcmÂŽ Protective Coatings
Food Processing
Aviation & Transportation
Warehousing