by The global Industrial Flooring Market is estimated to be valued at US$ 9.5 Bn or Mn 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 includes products such as epoxy flooring, polyurethane concrete flooring, composite flooring, PTFE flooring, and thermoplastic polyolefin flooring. These flooring provide durability, chemical and corrosion resistance that makes them ideal for use in various industrial sectors.
Market key trends:
Thermoplastic polyolefin (TPO) flooring is gaining popularity in the industrial flooring market owing to its excellent mechanical properties. TPO provides outstanding abrasion, impact, and chemical resistance along with flexibility at low temperatures making it suitable for use in various industrial environments. Its seamless and monolithic surface makes it easy to clean and maintain. The utilization of TPO flooring is increasing in automotive manufacturing plants, fabrication facilities, and food processing industries due to its durability and ability to withstand heavy foot and vehicle traffic over long periods of time.
SWOT Analysis:
- Strength: Durable and easy to clean industrial flooring helps reduce operational downtime and maintenance costs.
- Weakness: Specialized industrial flooring solutions have high initial installation and material costs.
- Opportunity: Growing construction of manufacturing facilities and warehouses in developing countries drives demand.
- Threats: Fluctuations in raw material prices and stringent environmental regulations impact production costs.
Key Takeaways:
The Global Industrial Flooring Market Size is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing construction of manufacturing plants and warehousing facilities globally.
The Asia Pacific region dominated the industrial flooring market in 2022, with a share of over 30%, led by rapidly growing economies such as China and India. The region is expected to continue its dominance, supported by expanding manufacturing sector outputs.
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
Regional analysis: North America and Europe are also expected to witness significant growth, supported by recovery in capital expenditure on industrial infrastructure modernization and expansion projects.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
