In the industrial sector, coatings are regarded as an integral facet, subject to which global industrial floor coatings market size has witnessed tremendous growth over the years. The use of coatings is touted as a viable solution for complete protection and aesthetics of the industrial infrastructure.
There has been a noticeable shift in consumer preference for enhanced products that offer superior mechanical strength, chemical resistance, and superior finishing. The economic improvement in both developed and developing nations has led to an increase in demand for various advanced products and services among people, which has magnified the number of industrial establishments world over.
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Some of the benefits associated with the use of high-quality industrial floor coating solutions include a considerable reduction in the cost of maintenance, especially in a harsh working environment like heavy machinery, chemical spills, excessive heat, and many others. With respect to the type of product, epoxy-based coatings have registered notable demand over the years due to extensive use on flooring surfaces of warehouses, food and beverage plants, and manufacturing units. During the year 2017, epoxy industrial floor coatings market share reached for more than USD 1.6 billion in annual remuneration.
The evident increase in online sales, primarily during the coronavirus pandemic with people ordering different products ranges from the comfort of their homes to avoid venturing outside, has intensified the need for warehouses at various locations. The increasing need to meet the demands of the people has driven advancements in manufacturing facilities. These factors have supported the use of epoxy as a suitable industrial coating option.
Some of the main reasons behind the wide use of epoxy floorings include extreme adhesion, superior resistance to chemicals, and other solvents and flexibility. The product comprises of self-leveling layers that offer protection and assist in filling hairline cracks present on the floors.
In 2017, concrete type floor coating materials were accountable for over USD 3 billion in revenue share. Surging awareness towards the need to reduce the cost associated with maintenance has widened the adoption of concrete ground layering products in the industry. Manufacturing ground experiences constant abuse from chemical, mechanical, and harsh weather conditions that ensure extreme protection. Factors like superior tensile strength, durability, and low cost as compared to other materials will continue to supplement industrial floor coatings market growth in the coming times.
In terms of the application spectrum, food processing sector has gained considerable recognition over the years, mainly due to the rise in demand for food and beverages with a rise in population. Additionally, higher disposable income among people has driven the need for on-the-go food and beverage products required to be produced in large quantities.
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Industrial floor coatings are required to ensure successful operations in the food processing units to address the constantly growing demands. Efforts undertaken to ensure complete safety and hygiene in processing plants to avoid food contaminations will complement the product demand. Investment in the food sector to meet the issues related to food wastage and shortage will also bolster industrial floor coatings market trends.
Asia Pacific has emerged as a key consumption belt over the years due to the rise in manufacturing abilities. This is mainly due to the increase in disposable income, amplifying the demand for various products. The availability of cheap labor and raw materials in the region makes it a profitable revenue terrain for the establishment of industries.
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