by Industrial flooring products provide resilience against harsh chemicals and heavy machinery while being non-slip and easy to install. They are ideal for use in factories, warehouses, hangars, machine shops and garages. Common industrial flooring materials include epoxy, polyurethane, vinyl, silicone, and cementitious. Epoxy flooring forms a resilient layer that protects the subsurface from damage caused by heavy loads, extreme temperatures and chemical spills. Its seamless finishing allows for easy cleaning and maintenance of the floor. Polyurethane too provides cushioning against heavy impact loading along with moisture and stain resistance.
The global Industrial Flooring Market is estimated to be valued at US$ 9.5 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends in the industrial flooring market size is the rising popularity of zero VOC and low VOC flooring options. Volatile organic compounds (VOCs) are emitted as gases from certain solids or liquids and are a major cause of indoor air pollution. Prolonged exposure to VOCs can cause health issues like eye, nose and throat irritation as well as headaches. Flooring manufacturers are increasingly developing eco-friendly flooring products containing plant-based ingredients, bio-based resins and low/zero VOC formulations to meet the demand for green building materials. Another trend is the integration of advanced technologies in flooring systems. For example, polyaspartic coatings provide a hard-wearing, chemical resistant finish and can incorporate things like heating elements, LED lighting and durable markings/logos into the flooring design through the incorporation of smart technologies.
Porter’s Analysis
Threat of new entrants: The industrial flooring market requires high investment and expertise. Established brands have strong brand loyalty and distribution channels which act as barriers for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various product options from different brands. However, compliance with industry and application specific standards limits options.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and dominance of few leading brands.
Threat of new substitutes: Threat of substitution is low as industrial flooring meets unique application requirements of industrial facilities in terms of durability, chemical and wear resistance.
Competitive rivalry: The market is consolidated with top players occupying major market share. However, regional players capture share through customized solutions and services.
Key Takeaways
The global industrial flooring market is expected to witness high growth. Growth will be driven by increased industrial and manufacturing activities along with compliance to stringent regulations regarding workplace safety. The global Industrial Flooring Market is estimated to be valued at US$ 9.5 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030.
Regional analysis – Asia Pacific dominates the global industrial flooring market currently and is expected to maintain its leading position over the forecast period. Rapid industrialization and economic growth in countries like China and India is driving the demand. North America is another major market owing to strong presence of manufacturing sector.
Key players operating in the industrial flooring market are 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, and East Coast Flooring Ltd.. Key players are focusing on new product development and expansion in growing markets to gain higher shares.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
