Industrial Flooring Market To Surpass US$ 11.0 Billion By 2027 - Coherent Market Insights

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 global industrial flooring market was estimated to be valued more than US$ 8.0 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 4.4% during the forecast period (2020 to 2027).

Drivers

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.

Market Opportunities

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.

Market Restraints

Fluctuating prices raw materials used in the manufacturing of industrial flooring products is one of the major factor expected to hamper the market growth. Epoxy and polyurethane are two major the key raw materials used in the production of industrial flooring. The price of Epoxy and polyurethane is directly affected by the fluctuating prices of crude oil due to various economic factors. Thus, volatile prices of industrial flooring are expected to hamper the market growth over the forecast timeframe.

Key Takeaways

On the basis of application, food & beverage dominated the global industrial flooring market in 2019 with around 29% of market share in terms of revenue, followed by chemical & pharmaceutical and automotive, respectively

Market Trends

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 timeframe.

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.

Competitive Section

Key players are operating in the global 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. 

Few Recent Developments

BASF Corporation

• In September 2019, the Construction Chemicals division of BASF Corporation has launched Ucrete UD200 SR flooring system, which features enhanced slip resistance. This product is the latest addition to the Ucrete portfolio in North America.

Market Taxonomy

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

By Regions

• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East & Africa