April 14, 2024
Industrial Flooring Market

Industrial Flooring Market is Estimated to Witness High Growth Owing to Increasing Industrialization

Industrial flooring refers to robust and durable flooring solutions installed in industrial facilities like manufacturing plants, warehouses, automobile workshops etc. to withstand heavy foot traffic and rolling loads from industrial vehicles, equipment and machinery. Industrial flooring provides safety, hygiene and cleanliness. Features like chemical and slip resistance, fire retardancy, abrasion resistance etc. make industrial flooring ideal for various industrial applications.

The global industrial flooring market is estimated to be valued at US$ 10.95 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Industrial Flooring 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. The key players are focused on new product launches and strategic partnerships to enhance their market share.

The key opportunities in the Global Industrial Flooring Market include rising demand from pharmaceutical industry and growth in food processing facilities across emerging economies. Furthermore, increasing construction of warehouses and distribution centers will also drive the industrial flooring market.

Globally, the Asia Pacific region dominated the industrial flooring market in 2023. However, North America and Europe are also witnessing considerable growth owing to rapid industrialization. Key players are expanding their manufacturing footprints in Latin America and Middle East & Africa to tap the emerging opportunities in these regions.

Market Drivers

Increasing industrialization across major economies due to rising manufacturing, mining and oil & gas activities is the key driver spurring the growth of industrial flooring market. Rapid urbanization and growth in construction sector has also augmented the demand for warehouses and distribution centers which in turn is accelerating the sales of industrial flooring. Moreover, stringent regulations regarding workplace safety and hygiene are compelling industrial facilities to adopt robust and long-lasting flooring solutions.

PEST Analysis

Political: Industrial flooring market is regulated by various health and safety standards set by governments to ensure safety of workers in manufacturing facilities.

Economic: Growth of manufacturing sector and investment in industrial infrastructure has led to rising demand for flooring solutions that provide durability, safety and ease of maintenance in production facilities.

Social: Increasing awareness about workplace safety and ergonomics has compelled factory owners to choose durable and slip-resistant flooring for manufacturing areas to prevent accidents.

Technological: Advanced flooring materials that offer better wear resistance, crack resistance and chemical resistance along with ease of cleaning and maintenance are gaining popularity. New technologies are also making flooring options more sustainable.

Geographical regions with high market concentration

The industrial flooring market in Asia Pacific region holds significant value share due to large manufacturing hub and rapidly growing industrial sector in China, India and other developing Asian countries. Europe is another major regional market supported by presence of many automotive and chemicals manufacturers. North America also captures sizable demand driven by industrial activities in the US and Canada.

Fastest growing region

The industrial flooring market is expected to witness fastest growth in Asia Pacific region during the forecast period. This can be attributed to ongoing industrialization and infrastructure development projects across economies like China and India. Rapid expansion of sectors such as automotive, electronics and pharmaceuticals will drive the adoption of specialized flooring materials to meet industry-specific needs in APAC manufacturing facilities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it