Industrial Flooring Market to be Valued at US$ 12.4 Bn by 2030; COVID-19 Impact on End-use Industries to Affect Demand in Near Term
Published On : Nov 20, 2020
Epoxy type industrial flooring holds a prominent share in the industrial flooring market, owing to its low cost, physical & chemical properties, and wide range of application. Demand for this type of flooring is projected to be high across the world throughout the forecast period.
The global industrial flooring market is anticipated to expand at a CAGR of over 4% during the forecast period of 2020-2030, to be valued around US$ 12.4 Bn by 2030.
Key Takeaways from Industrial Flooring Market Study
- Regulatory requirements that mandate flooring standards for particular types of industrial facilities are key factors stimulating demand in the industrial flooring market.
- The food & beverages sector accounted for a prominent share in the industrial flooring market in terms of demand, along with the automotive & chemical sectors.
- Medium-duty industrial flooring is expected to gain traction over the forecast period with the highest share and growth rate. This floor type is increasingly being preferred over low thickness offerings of light-duty industrial flooring.
- Epoxy material accounts for more than two-third of the total market, and is projected to maintain its dominance over the forecast period with a high growth rate.
- Europe holds a prominent share in terms of consumption of industrial flooring, followed by North America and East Asia.
- Factors such as excellent surface strength, improved adhesion, and high performance chemical resistance are driving the industrial flooring market size to a great extent.
- The COVID-19 pandemic will have an adverse effect on the progress of the industrial flooring market in the short term.
“Rapid industrialization and urbanization in East Asia is expected to bolster demand for industrial flooring in the region. Moreover, steady shift of automotive production from Europe to East Asia is further expected to push demand in the coming decade,” says a PMR analyst.
Market Landscape Continues to Remain Highly Fragmented
The global industrial flooring market is highly fragmented at global and regional levels. Top tier international manufacturers account for less than one-fifth of the global industrial flooring market share.
Some of the leading players included in the report are BASF SE, Sika AG, RPM International Inc., Mapei Group, Forsoc International Limited, Don Construction Products Limited, Cipy Polyurethanes Pvt. Ltd., Viacor Polymer GmBH, Twintec, Acrylicon, Cornerstone Flooring, Applied Flooring, and others. Manufacturers are focusing on new product development and material innovation to stay ahead of their competitors.
Industrial Flooring Market: Conclusion
Demand for industrial flooring is projected to grow steadily, with major growth concentrated in sectors such as automotive, food, and chemicals. Pharmaceutical and bio-technology industries can open new opportunity avenues for the industrial flooring market.
The market is highly fragmented with a large number of regional and local manufacturers in most major geographies. Regions such Europe, North America, and East Asia hold major shares of the global market. Further, the intensity of competition in the industrial flooring market is only set to increase as international players develop increasingly localized supply chains to gain an advantage over domestic competitors.
Want to Know More?
Persistence Market Research has published a market research report on the industrial flooring market that contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides in-depth analysis of the industrial flooring market through different segments - material type, product type, application, and region. The industrial flooring market report also provides supply and demand trends, along with an overview of the parent market.
For additional insights on how the industrial flooring market will shape up over the next decade, write to firstname.lastname@example.org
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Industrial Flooring Market
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Global Market Study on Industrial Flooring: Demand Rising from Food, Automotive & Chemical IndustriesRequest TOC