Mergers & Acquisitions Fueled the Growth of the Industrial Floor Coating Market
The "Industrial Floor Coating Market" is expected to witness significant growth as a result of the recovery of the global economy and high rate of industrialization in the Asia-Pacific region. Growth in modern retailing, rise in consumer income and employment, and increase in demand for new commercial and industrial construction projects are some of the other factors influencing the growth of the industrial floor coating market.
In 2015, the Asia-Pacific region accounted for the largest share and is projected to grow at the fastest rate in the industrial floor coating market from 2016 to 2021. Markets in developing countries such as India, China, South Korea, Brazil, and countries in the Middle East are projected to grow at higher rates from 2016 to 2021, owing to the rapid industrialization and commercialization in these countries.
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The industrial floor coating market was valued at USD 4.75 Billion in 2016 and is projected to reach USD 6.07 Billion by 2021, at an estimated CAGR of 5.0% between 2016 and 2021.Factors such as the comparatively lower cost than other materials used for flooring and superior durability and tensile strength make concrete the most widely used material for the construction of industrial floors.
- Increase in Need to Protect Concrete Floors in Industrial and Commercial Facilities
- Industrial Expansion in Emerging Economies
- Raw material suppliers
- Floor coating manufacturers
- Architects & engineers
- Construction contractors
- Building system associations
- Industrial floor coating related technology investors
- Advanced floor coating researchers and developers
- North America
- Middle East and Africa
- Latin America
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The research methodology used to estimate and forecast the industrial floor coating market begins with capturing data on key vendor revenues through secondary research and associations such as the American Coating Association, the Coating Society, Surface Coating Association Australia, and the Indian Paint and Coating Association.
The global market for industrial floor coating is dominated by major players such as PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Akzo Nobel N.V. (Netherlands), BASF SE (Germany), RPM International Inc. (U.S.), 3M Company (U.S.), The Dow Chemical Company (U.S.), Koninklijke DSM N.V. (Netherlands), The Lubrizol Corporation (U.S.) and Asian Paints PPG Pvt. Limited (India).
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