Industrial Flooring Market is projected to growing at a CAGR of 4.9% during 2023-2030
According to a report by Persistence Market Research, the global industrial flooring market size was valued at US$5.5 billion in 2022 and is projected to reach US$ 12.4 billion by 2030, growing at a CAGR of 4.9% during the forecast period. The Asia Pacific region is expected to dominate the market, driven by the growing industrialization and infrastructure development in countries like China, India, and Southeast Asia.
The Industrial Flooring Market is a rapidly evolving sector with new technologies and products entering the industry on a regular basis. This market is driven by the need for increased safety in industrial settings, as well as the continuous development of specialized floor coatings that can withstand harsh conditions such as chemicals, heat, and more.
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Market Drivers:
The growth of the industrial flooring market can be attributed to several factors. One of the key drivers is the increasing demand for sustainable flooring solutions. With the increasing awareness of environmental concerns, industrial flooring materials that are environmentally friendly and meet sustainability standards have become more popular among end-users. Additionally, the need for flooring solutions that are easy to clean and maintain is driving the demand for seamless and smooth flooring options like epoxy and polyurethane.
Market Players:
- BASF SE
- Sika AG
- RPM International Inc.
- Mapei U.K. Ltd.
- Fosroc
- Don Construction Products Ltd.
- Cipy Polyurethanes Pvt Ltd.
- Viacor Polymer GmBH
- Twintec
- Acrylicon
- Cornerstone Flooring
- Applied Flooring
- AVCON Technics Pvt. Ltd.
- 4m Europe
- East Coast Flooring Ltd.
the industrial flooring market is expected to grow steadily in the coming years, driven by the increasing demand for durable and sustainable flooring solutions in industrial environments. The market is highly competitive, with several players operating in the market. Companies are focusing on product innovation and development to stay competitive in the market.
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Market Segmentation:
The industrial flooring market can be segmented based on material type, application, and end-use industry.
Based on material type, the market can be segmented into concrete, epoxy, polyurethane, and others. Epoxy and polyurethane are the most popular materials used in industrial flooring due to their durability and easy maintenance.
Based on application, the market can be segmented into flooring and wall coatings, and toppings and overlays.
Based on end-use industry, the market can be segmented into manufacturing, healthcare, food and beverage, transportation, and others.
Superior waterproofing capabilities make epoxy one of the most sought after coating materials used in industries like automotive manufacturing plants or oil refineries which require special protection from corrosive liquids or gases present inside these facilities . According to research conducted by Persistence Market Research, Asia Pacific region held dominant position in global industrial floor coating market generating revenue around US$ 830 million in 2022; it is attributed to presence of large number of small-scale manufacturers & large construction companies across countries like China and India which are increasing innovative manufacturing practices such as introduction of advanced products & use of eco-friendly raw materials thus making them prominent player in this market.
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Key Takeaways – Industrial Flooring Market
- 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.
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