July 20, 2020
According to the research report titled ‘Global Industrial Decorative Flooring Market Analysis, 2020’ available with Market Study Report LLC, global industrial decorative flooring market is expected to record a y-o-y growth rate of 3.5% through 2025.
Growing popularity of sustainable bio-based flooring and widespread awareness regarding the performance of polyaspartic coatings are expected to drive the growth of industrial decorative flooring market. On the downside, stringent government norms aimed towards limiting volatile organic compounds (VOCs) emission may hamper the market growth to some extent, claims the report.
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Nevertheless, numerous construction projects across transportation, logistics, food & beverage and automotive sectors globally are expected to boost the demand for industrial decorative floorings, as these are anti-allergic and anti-dust floorings.
As per floor material terrain, global industrial decorative flooring market is classified into concrete, wood, and others. Based on technology spectrum, the market is categorized into polyaspartic, polyuria, acrylic, cementitious, polyurethane, epoxy, and other resin type. Speaking of component type, the industry is divided into top coat, grout/seal coat, base coat, and primer. While considering the end-user spectrum, the market is segmented into commercial, logistics & distribution, automotive & engineering, food & beverage, pharma, and airports, train terminals, & bus stations.
Elaborating on the regional landscape, Asia Pacific is expected to witness a huge demand for industrial decorative flooring over the forecast period, owing to several on-going and upcoming construction projects in emerging countries. However, economic slowdown and production disruption alongside lockdowns due to COVID-19 outbreak will hamper the market growth in APAC.
The key players operating in global industrial decorative flooring industry are PPG Industries, Covestro AG, Henkel AG & Company, KGaA, Sherwin Williams Company, MAPEI, Sika AG, Florock, The Lubrizol Corporation, LATICRETE International Inc., Arkema S.A., RPM International Inc., BASF SE, Tikkurila Oyj, Akzo Nobel N.V., Michelman Inc., The Jotun Group, Nippon Paint, Kansai Paint Co. Ltd., Asian Paints, and Teknos Group.