Global industrial flooring market is estimated to be valued at US$ 8.72 Billion in 2021, according to the Global Industrial Flooring Market Report, by Product Type (Light duty (<300um), Medium Duty (300um-4mm), Heavy Duty (>4mm)), by Material Type (Epoxy, Polyaspartic, Polyurethane, Concrete, Anhydrite, Methyl Methacrylate (MMA)), by Application (Automotive, Aircraft Hanger, Pulp & Paper, Food & Beverage, Energy & Power, Chemical & Pharmaceutical, Healthcare), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global Industrial Flooring market was valued at US$ 8.72 Billion in 2021 and is expected to register a CAGR of 4.4% over the forecast period (2022–2030). The Europe region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Browse 50 market data tables* and 40 figures* on "Global Industrial Flooring Market” - Forecast to 2030.
Key Trends and Analysis of the Global Industrial Flooring Market:
- Industrial flooring is a coating of the surface by using certain products that helps in making floor chemical resistance, anti-microbial, and antistatic. It is also used to enhance the aesthetic appeal of the surface, prevent contamination, maintain cleanliness, and reduce the risk of industrial accidents. Epoxy, polyaspartic, polyurethane, concrete, anhydrite, and methyl methacrylate (MMA) are some of the common products used in industrial flooring. Automotive, aircraft, pulp & paper, chemical & pharmaceutical, food & beverage, energy & power, and healthcare are some of the major end-user of industrial flooring.
- The rising demand for industrial flooring from the automotive industry is expected to augment the market growth over the forecast period. It is used to prevent the damages that occur on the floor due to frequent movement of heavy machinery and components, spillage of oil, and high-temperature operations which can lead to chances of accidents. Thus, growing demand from the automotive industry is expected to propel the market growth of industrial flooring.
- For instance, in September 2019, the Construction Chemicals division of BASF Corporation launched Ucrete UD200 SR flooring system, which features enhanced slip resistance. This product is the latest addition to the Ucrete portfolio in North America.
- Rising adoption of hygiene and safety practices in the pharmaceutical & biotechnology industry is expected to open new growth opportunities to the industrial flooring market. These industries revolve around the production of various therapies and medical devices and even minor contamination during drug production may lead to serious illness. Thus, in order to prevent contamination and maintain the antibacterial environment, these industries are widely adopting industrial flooring which is expected to fuel the market growth of industrial flooring.
- Rising spending by the manufacturer in order to maintain the cleanliness and hygiene in the workplace is expected to be a major trend. Industries such as logistic warehouse, electronic production, and manufacturing facilities are rapidly adopting industrial flooring solutions due to its superior abrasion resistance and antimicrobial properties. This is expected to augment the market growth of industrial flooring over the forecast period.
- Shifting preferences among manufacturers towards adopting self-leveling epoxy coverings across various manufacturing facilities due to its smooth finish, low maintenance, and non-porous properties is expected to propel the market growth of industrial flooring over the forecast period.
Key Takeaways of the Global Industrial Flooring Market:
- Among product type, light duty (<300um), dominated the global industrial flooring market in 2021 with around 49% of market share in terms of revenue, followed by heavy duty (>4mm) and medium duty (300um - 4mm) respectively.
- Among region, Europe dominated the global industrial flooring market in 2021, reporting 34% market share in terms of revenue, followed by North America and Asia Pacific, respectively.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global industrial flooring market.