by The Industrial Flooring Market is estimated to be valued at US$ 9.5 Bn or in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial flooring is used in various manufacturing facilities, warehouses, logistic centers, and processing plants where heavy foot traffic and material handling equipment are common. Industrial flooring provides durability, ease of maintenance, chemical and stain resistance, slip resistance, and aesthetic appeal. Epoxy flooring, polymer flooring, PU flooring, and vinyl flooring are some commonly used types of industrial flooring. These flooring solutions ensure safety, improve productivity and prolong the life of the facility.
Market Dynamics:
Growth in the manufacturing and processing industries has been a major driver for the industrial flooring market. Expanding automotive, food & beverage, electronics and chemical industries utilize large production facilities which require heavy-duty flooring. Additionally, increasing awareness regarding workplace safety standards among companies has shifted focus towards use of high-performance and slip-resistant flooring. Another key factor influencing demand is longer-life and lower maintenance flooring solutions as they help reduce operational costs for industries over the lifespan. However, stringent environmental regulations around VOC emissions from flooring materials act as a challenge for market players.
Segment Analysis:
The industrial flooring market can be segmented into cement flooring, epoxy flooring, polyurethane flooring, thermoplastic flooring, and others. Among these, the polyurethane flooring segment dominates the market and accounts for over 30% of the global demand. Polyurethane is durable, crack resistant and provides long-lasting protection against wear and tear, oils, chemicals, and impact, making it suitable for extreme industrial environments like food processing, automobile manufacturing, and warehouse storage facilities.
PEST Analysis:
- Political: Governments across regions are providing subsidies and initiatives to promote the growth of their local manufacturing industries. This is increasing infrastructural investments and demand for industrial flooring.
- Economic: Growth in warehousing, logistics, and manufacturing sectors especially in developing nations is driving investments in new plants and facilities, propelling the industrial flooring market’s growth.
- Social: Rising awareness about workplace safety and hygiene is augmenting the replacement rate of old industrial floors with modern solutions that safeguard worker health.
- Technological: Developments in floor coating formulations allow for application of seamless, anti-microbial, easy-to-clean floors suitable for industries dealing with food, pharmaceuticals and chemicals.
Key Takeaways:
The Global Industrial Flooring Market Growth is expected to witness high, exhibiting CAGR of 4.4% over the forecast period, due to increasing investments in manufacturing and logistics facilities globally. The market size for 2023 is estimated to reach US$ 9.5 Bn.
Regional analysis indicates Asia Pacific as the fastest growing region due to rapid industrialization in China and India. China alone accounts for over 30% of the global demand for industrial flooring currently.
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. These companies have a major presence across North America, Europe, and Asia Pacific, with BASF and Sika having the largest market shares globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
