PUBLISHER: Allied Market Research | PRODUCT CODE: 1139866
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139866
The industrial flooring market size was valued at $7,924.1 million in 2021, and is projected to reach $13,454.0 million by 2031, registering a CAGR of 5.4% from 2022 to 2031.
Industrial flooring is one of the crucial steps for construction of industrial infrastructure as it can improve durability, visual appeal, design, and aesthetics of buildings. In addition, the industrial flooring is more resistant to damage and have longer product lives compared to conventional flooring solutions. The industrial flooring unlike conventional flooring is subjected to conditions such as heat, corrosion, vibration, and others. In addition, the fast growth of the population, combined with the construction of new business centers, such as offices, factories, warehouses, sports complexes, hospitality, and healthcare, has prompted the deployment of compact and efficient decor system.
Factors such as increase in industrialization around the globe, rise in necessity for industrial flooring in industrial facilities, and growth in food & beverage, chemicals, and manufacturing industries drives the market growth. However, the fluctuations in price of raw material and lack of skilled manpower and awareness for selection of material hampers the market growth. Furthermore, increase in FDI inflows and favorable government policies offers lucrative growth opportunities for the market players during the forecast period. Moreover, the rising expenditure by governments and private construction companies in building sports complexes and arenas has led to the development of numerous sports facilities in urban as well as suburban areas, in addition to routine replacement and repair work. As a result of the increase in population, these expenditures in the building sector are expected to enhance the use of indoor flooring, resulting in market growth.
The industrial flooring market growth is segmented on the basis of thickness, material, end user industry, and region. Based on thickness, the market is segmented into light duty, medium duty, and heavy duty. The material type segment is classified into epoxy, polyaspartic, polyurethane, anhydrite, and others. By end user industry, it is segmented into chemical, food & beverages, healthcare, transportation & aviation, and others. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The key players that operating in the Industrial Flooring Market are BASF SE, Cipy Polyurethanes Pvt. Ltd., Cornerstone Flooring, Don Construction Products Ltd., Fosroc, Inc., MAPEI S.p.A., RPM International Inc., Sika AG, Twintec Group Limited, and VIACOR Polymer GmbH.
Key Benefits For Stakeholders
Key Market Segments
By End User Industry
By Thickness
By Material Type
By Region