HOME Research Insight New product Launches are some of the Major Strategies Adopted by the Industrial Floor Coating Market

New product Launches are some of the Major Strategies Adopted by the Industrial Floor Coating Market

Industrial floor coating provides repair, maintenance, and protection solutions to a wide array of flooring requirements in industrial and commercial areas. It can be defined as a thin layer coating on a floor structure to prevent the floor from exposure to different types of chemical and other substances. MarketsandMarkets projects that the industrial floor coating market size will grow from USD 4.75 Billion in 2016 to USD 6.07 Billion by 2021, at a compound annual growth rate (CAGR) of 5.0% from 2016. The increase in demand for industrial floor coating from the manufacturing, aviation & transportation, and food processing sector is driving the growth of the industrial floor coating market.

The global market for the industrial floor coating markets is dominated by major players of the construction paints & coating industry. 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.), and Koninklijke DSM N.V. (Netherlands), The Lubrizol Corporation (U.S.) Asian Paints PPG Pvt. Limited (India), Florock Polymer Flooring Systems (U.S.), Nora System, Inc. (Germany), Maris Polymers SA (Greece), Plexi-Chemie, Inc. (U.S.), Grand Polycoats (India), Ardex Endure (India), A&I Coatings (Australia), Milliken & Company (U.S.), Michelman, Inc. (U.S.), Roto Polymers and Chemicals (India), CPC Floor Coatings (U.S.), Tambour (Israel), Apurva India Private Limited (U.S.), ArmorPoxy (India), and Pro Maintenance, Inc. (U.S.) are the leading manufacturers operating in the industrial floor coating market. These players adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, investments & expansions, and new product launches are some of the major strategies adopted by the market players to achieve growth in the industrial floor coating market.

Mergers & acquisitions, collectively, accounted for the largest share of 58% of the total strategic developments in the global industrial floor coating market. Companies adopted this strategy to expand their geographical reach, seize new projects, strengthen their product & service portfolios, and cater to the untapped markets. PPG Industries, Inc. (U.S.), RPM International Inc. (U.S.), and The Sherwin-Williams Company (U.S.) were the major companies that adopted this strategy.

PPG Industries, Inc. (U.S.) is a leading manufacturer and distributor of industrial floor coating and related products for resurfacing and construction industries. The company offers a range of products for use in industrial floor coating and commercial building. In 2017, it acquired Deutek S.A (Romania). The aim was to expand the business of PPG industries in Romania and to meet the future demand for floor coating. In 2016, the company acquired Metokote Corporation (U.S.) with an aim to strengthen its foothold in the U.S.

The Sherwin-Williams Company (U.S.) is involved in the development, manufacture, distribution, and sales of coating, paints, and other related products. In 2016, the company acquired The Valspar Corporation (U.S) with an aim of expanding the company’s reach in the emerging Asia-Pacific and Middle Eastern & African regions.

Related Reports:

Industrial Floor Coating Market by Binder Type (Epoxy, Polyaspartic), Flooring Material (Concrete, Mortar, Terrazzo), End-use Sector (Manufacturing, Aviation & Transportation, Food Processing), Coating Component, and Region - Global Forecast to 2021

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