Industrial Flooring Market Report
The Industrial Flooring Market is segmented By Material Type (Epoxy, Polyurethane, PU Cement, MMA, and Others), By Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), and By Region (North America, Europe, Asia Pacific, and Rest of the World).
The Industrial Flooring Market is segmented By Material Type (Epoxy, Polyurethane, PU Cement, MMA, and Others), By Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), and By Region ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
There are several flooring options for industrial spaces, each with its ideal attributes. It is a big challenge for the company to simultaneously maintain its flooring along with the business operations. This gives birth to huge repair and maintenance costs. Therefore, it is vital for companies to invest readily in durable, resistant, and low-maintenance floors. The industrial floors are majorly classified according to the material from which they are made, can be epoxy, polyurethane, and concrete, among others. The company must understand the type of industrial floor that is best suited for its operations. Cost, durability, aesthetics, and maintenance requirements of materials are some of the major criteria in the selection of the type of flooring. Currently, epoxy and concrete are preferably referred to as the best combination for industrial flooring.
Among different material types, concrete flooring is most commonly used in road construction, multi-story car parking, and walkways. It is very durable and able to withstand constant pressure. Epoxy flooring is another prevalent choice for industrial workplaces, which is commonly selected because of its high versatility and durability. Epoxy flooring is made from several strong epoxy layers, as opposed to just one layer in epoxy coating. Therefore, it can withstand constant and heavy traffic and is also easy to clean and maintain.
The industrial flooring market witnessed a pitfall of -14.9% in 2020, taking the market to close to its 2017-market numbers. Based on primary interviews coupled with the study of the previous downturns, it is anticipated that the market may log a quick recovery, expecting to hit back its pre-pandemic levels in a couple of years only. Overall, the market is estimated to record a healthy CAGR of 5.9% over the next five years to cross an iconic figure of US$ 4.0 billion in 2026.
Based on the material type, the market is segmented as epoxy, PU resin, PU cement, methyl methacrylate (MMA), and others. Epoxy currently unassailably dominates the market and is estimated to maintain its dominance in the foreseen future. MMA currently holds a minuscule share and is an expensive option for several industries. However, the material type is anticipated to witness the fastest growth in the years to come. PU cement is vastly used in the food and beverage industry.
Epoxy flooring is favored in various industries due to its economic pricing, durability, and enhanced characteristic features. Despite the pandemic in 2020, there have been increasing activities in the industrial sector, particularly in building parking spaces and in the increasing number of healthcare facilities to combat COVID-19, which, in turn, are driving the demand for epoxy flooring.
Similarly, based on the application type, the market is classified as food & beverage, healthcare, automotive manufacturing, industrial manufacturing, and others. Industrial manufacturing is likely to maintain its dominance during the studied period, whereas food & beverage is anticipated to register the highest growth over the same period.
In terms of region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world. Currently, Europe holds the front chair in the industrial flooring market. The region is also likely to regain its lost business due to the pandemic at an influential rate. The expected recovery in industrial manufacturing will mainly contribute to the demand for industrial flooring. Secondly, like North America, the European region houses several manufacturing/assembly and processing plants for automotive, food & beverage, and pharmaceutical, assuring a healthy demand in the years to come.
Asia-Pacific, another major market for resin flooring, is subjected to grow at the highest pace over the next five years. China alone holds more than half of the region’s market and will continue marking greater dominance in the regional as well as the global market. Over the years, there has been a constant increase in the penetration of industrial flooring in the major Asian economies, particularly in China, a key factor driving the demand in the region.
The market for industrial flooring is gradually consolidating every year as many companies are engaged in mergers & acquisitions to quickly gain the market-leading position and to tap the growing opportunities in the briskly expanding market. For example, in 2011, RPM’s division Carboline acquired Dudik Inc., a standalone world leader in high-performance coatings, flooring, and tank linings. Similarly, Sherwin Williams acquired Tennant Coatings in 2021, and COVESTRO acquired Industrials & Functional Materials Business from Royal DSM, which will enhance its global network and adds profits estimated to be around EUR 1 billion.
The supply chain of this market comprises several channels including the raw material suppliers, distributors, flooring manufacturers, and local companies, among others. The following are some of the key players in the industrial flooring market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s industrial flooring market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our performance flooring market and resin flooring market reports from the industry stakeholders, we have tried to further accentuate our research scope to the industrial flooring market to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The industrial flooring market is segmented into the following categories:
Industrial Flooring Market, by Material Type
Industrial Flooring Market, by Application Type
Industrial Flooring Market, by Region/Country
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The industrial flooring market is estimated to grow at a CAGR of 4.7%, during 2021-2026.
AFI Licensing LLC, Ardex Group, COVESTRO, General Polymers Thermoplastic Materials, LLC, Gerflor Group, Jotun, MBCC Group, RPM International Inc., Sika AG, and The Lubrizol Corporation are some of the players in the industrial flooring market.
Europe is estimated to be dominant in the industrial flooring market in the upcoming years.?