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    Industrial Flooring Market Report

    Industrial Flooring Market Report
    Report code - SRCE186 Published On : Oct,2022 No. of Pages: 140
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    Industrial Flooring Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Highlights

    For industrial environments, there are a variety of flooring solutions, each with different characteristics. 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 in durable, resistant, and low-maintenance floors. Industrial floors are majorly classified according to the material from which they are made, which can be epoxy, polyurethane, and MMA. The company must understand the type of industrial floor that is best suited for its operations. Cost, durability, aesthetics, and maintenance requirements are some of the major criteria in the selection of the type of flooring. Currently, epoxy and concrete are referred to as the best industrial flooring options.

    Epoxy flooring is the preferred 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 moderate decline of 4.3% in 2020 amid the pandemic. However, the market experienced robust growth of 32.1% in 2021, due to an increase in construction activities, increasing significance of safety and environmental regulations, and an abrupt increase in raw material prices. In the long run, the industrial flooring market is likely to register at a promising CAGR of 5.3% to reach US$ 6.1 Billion in 2028.

    The market for industrial flooring is gradually consolidating every year as many companies are engaged in mergers & acquisitions to quickly gain a market-leading position and to tap the growing opportunities in the briskly expanding market. For example, in 2021, RPM’s division Carboline acquired Dudik Inc., a standalone world leader in high-performance coatings, flooring, and tank linings. Similarly, The Sherwin-Williams Company acquired Tennant Coatings in 2021, and COVESTRO Group acquired Industrials & Functional Materials Business from Royal DSM, which will enhance its global network.

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Material Type

    Epoxy, PU Resin, PU Cement, MMA, and Others

    Epoxy is estimated to remain the most preferred material for industrial flooring. However, MMA is projected to gain momentum in the coming years.

    Application Type

    Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others

    Industrial manufacturing is likely to remain the biggest demand generator. Food & Beverage is likely to witness impressive growth in the near future.

    Region

    North America, Europe, Asia Pacific, and the Rest of the World

    Europe is likely to remain the dominant region, whereas Asia-Pacific is projected to remain the fastest-growing region during the forecast period.

     

    Based on the material type, the industrial flooring market is segmented into epoxy, PU resin, PU cement, MMA (methyl methacrylate), and others. Epoxy is unquestionably the leading material and is estimated to maintain its dominance in the foreseeable future. MMA currently has a diminutive market share and is an expensive alternative. However, in the coming years, it is projected that the material type would experience the fastest growth.

    Due to its affordable cost, durability, and improved distinctive features, epoxy flooring is preferred in various industries. Despite the pandemic in 2020, the industrial sector has seen an increase in activity, particularly in the construction of parking spaces and the expansion of healthcare facilities to battle COVID-19, which, in turn, are driving the demand for epoxy flooring.

    Based on the application type, the market is segmented into food & beverage, healthcare, automobile manufacturing, industrial manufacturing, and others. Food & beverage is projected to experience the highest growth during the forecast period, whereas industrial manufacturing is likely to maintain its supremacy during the same period.

    In terms of regions, Europe holds the front chair in the industrial flooring marketThe 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 industrial 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 region 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.

    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the industrial flooring market:

    • Sika AG
    • Covestro Group
    • The Sherwin-Williams Company
    • BASF SE
    • PPG Industries, Inc.
    • Jotun
    • RPM International Inc.
    • Ardex Group

    Research Methodology

    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. The report segments and analyzes the market in the most detailed manner in order 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 1,000 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.

    Report Features

    This report provides market intelligence in the most comprehensive way. 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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The industrial flooring market is segmented into the following categories. 

    Industrial Flooring Market, by Material Type

    • Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • PU Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • PU Cement (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • MMA (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Flooring Market, by Application Type

    • Food & Beverages (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Automotive manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Flooring Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Austria, Italy, Spain, and RoE)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

     

    Frequently Asked Questions (FAQs)

    The industrial flooring market is estimated to grow at a CAGR of 5.3% during 2023-2028. The increase in construction activities, the growing significance of safety and environmental regulations, and the benefits of flooring are some of the market's major driving factors.

    Sika AG, Covestro Group, The Sherwin-Williams Company, BASF SE, PPG Industries, Inc., Jotun, RPM International Inc., and Ardex Group are the leading players in the industrial flooring market.

    Europe is estimated to remain the dominant region during the forecast period as it is home to numerous processing, manufacturing, and assembly facilities for the pharmaceutical, food & beverage, and automotive industries, ensuring a strong demand in the years to come.

    Asia-Pacific is estimated to remain the fastest-growing market during the forecast period, owing to rising construction activities and an increase in demand for durable, aesthetic, and, low-maintenance floors in economies like China and Japan.

    Epoxy is estimated to be dominant in the market in the coming years. Epoxy is preferred for all major applications because of its durability, ease of maintenance, chemical and impact resistance, and ability to prevent wear and tear.

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