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Industrial Floor Coatings Market Growing at 7.2% CAGR to Cross $ 7bn by 2024
Addtime:2019-4-19

According to a new research report by Global Market Insights, Inc. industrial floor coatings market is estimated to exceed USD 7 billion by 2024. Favorable macroeconomic conditions coupled with rising industrialization in emerging nations will drive the industry share.

According to the Asia Development Bank, Asian countries are expected to invest USD 9 trillion for infrastructure development between 2010 and 2020 to augment industrialization and urbanization. This will create a surge in the number of manufacturing facilities, thereby fueling industrial floor coatings demand.

Europe market is characterized by the presence of key industrial floor coatings manufacturers such as BASF, Dow Chemical and AkzoNobel. Strong demand from both domestic and international markets for major industrial output such as automotive, chemical and food will create lucrative opportunities for industrial floor coverings market in the region.

Industrial floor coatings are widely used in food & beverage processing facilities to maintain quality, purity & hygiene. Rising urbanization has influenced consumption patterns, increased disposable income will make processed foods affordable for a larger share of the populace. This will foster growth in the food processing industry and create substantial opportunities for the product.

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