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Extensive application of industrial floor coatings is likely across the manufacturing industry.
June 2, 2021
By: DAVID SAVASTANO
Editor, Ink World Magazine
Fact.MR recently published a report on the global market for industrial floor coatings. The market is anticipated to register a CAGR of around 3%, reaching almost US$ 7 billion by 2031. Extensive application of industrial floor coatings is likely across the manufacturing industry, attributed to widespread industrialization. Significant gains were recorded in the past, with the market being valued at nearly US$ 6 billion in 2019. Recessionary impacts ushered in by the COVID-19 pandemic crisis led to a moderate crunch, closing in at around US$ 5 billion in 2020. Manufacturers are increasingly tilting towards bio-based floor coatings, keeping in mind emerging sustainability trends associated with producing industrial goods. Polyaspartic industrial floor coatings are expected to grow at a CAGR of nearly 3% during the forecast period. By end use, industrial floor coatings for the manufacturing sector to experience a volume CAGR of more than 5%. The US is anticipated to surpass US$ 1 billion in 2020.
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