Where Can You Find Free Resources For INDUSTRIAL FLOOR COATING MARKET

The global industrial floor coating market size is projected to grow from USD 5.5 billion in 2019 to USD 6.8 billion by 2024, at a CAGR of 4.6% from 2019 to 2024. The demand for industrial floor coatings can be attributed to the high growth of industrial and commercial construction industries across the globe. Factors such as rapid industrialization and growing manufacturing industries across the globe are driving the demand for industrial floor coating.

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Recent Developments

• In December 2019, AkzoNobel acquired Mauvilac Industries Limited (Africa), a manufacturer of paint and coating. This initiative includes the acquisition of Mauvilac Industries’ local manufacturing facility, four concept stores, and a strong distribution network. This strategic initiative is expected to strengthen AkzoNobel’s footprint in Sub-Saharan African markets.
• In October 2019, AkzoNobel introduced a new range of powder coating ‘Interpon Redox,’ which is an ideal solution for corrosion protection. This powder coating may be used to all array of surfaces, substrates, and environments (such as cable cars, window frames, wind turbines, and chemical plants).
• In July 2019, AkzoNobel invested USD 4 million (3 million Euros) in Changzhou powder coatings plant in China, with an aim to enhance its production facilities as well as supply chain. Furthermore, the company invested in adding three new production lines at the same plant in China.

On the basis of end-use sector

• Manufacturing
• Aviation & transportation
• Food processing
• Science & technology
• Others (car parks, hospitality, healthcare, and fire & public safety sectors)

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In terms of value and volume, the epoxy segment is projected to lead the industrial floor coating market from 2019 to 2024.

Based on resin type, the epoxy segment is projected to be the fastest-growing market. The dominant market position of epoxy can be attributed to its superior properties, such as high adhesion, impact resistance, flexibility, and resistance to chemicals and solvents. Furthermore, this segment is also projected to be the fastest-growing segment in the global industrial floor coating market.

In terms of value and volume, the concrete segment of the industrial floor coating industry is projected to grow at the highest CAGR during the forecast period.

By flooring material, the concrete segment is projected to be the fastest-growing segment in the industrial floor coating market. Factors such as lower cost of concrete, its superior durability, and its tensile strength make it the widely used material for the construction of industrial floors.

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