The global Industrial Flooring Market is estimated to be valued at US$ 9.5 Bn or Billion in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial flooring refers to durable flooring solutions used across various industries including automotive, food processing, warehousing, and manufacturing. Industrial floorings provide safety, durability, stain/chemical/impact/abrasion resistance, and easy maintenance characteristics ideal for heavy-duty industrial environments. Common industrial flooring materials include epoxy, vinyl, vinyl ester, polyurethane, cementitious overlays etc. The need for protective, anti-fatigue, and easy-to-clean flooring arises to ensure safety of workers, extend equipments lifespan, and facilitate hygiene compliance in industrial setups.
Market key trends:
One of the key trends in the industrial flooring market is the rising adoption of antimicrobial flooring solutions. Antimicrobial flooring contains EPA approved ingredients that kill bacteria, mold, and other microbes. They are gaining prominence across food processing plants, healthcare facilities to curb infections. For instance, products like don construction’s Surekill Antimicrobial range claim to reduce microbe count by over 99% and lower sanitation and cleaning costs. The self-sanitizing property offers longer lasting hygienic flooring solution ideal for high traffic industrial areas.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants is moderate as the initial capital investment is high and raw material costs are rising. Existing players have strong brand value and supply chain advantages.
- Bargaining power of buyers: The bargaining power of buyers is strong as the industrial flooring market is fragmented with multiple regional and local suppliers. Buyers can negotiate on price and quality standards.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required are commoditized. However, rising input costs can be passed on to buyers to some extent.
- Threat of new substitutes: The threat of substitutes is low as industrial flooring has few direct substitutes and performs critical functions in industrial facilities.
- Competitive rivalry: Competition is high among established players to gain market share through product innovation, competitive pricing, and expansion into new regions.
Key Takeaways:
The Global Industrial Flooring Market Demand is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing industrialization and infrastructure development activities across developing regions.
Regional analysis: North America dominates the global industrial flooring market currently, owing to strong presence of manufacturing sector. Asia Pacific is expected to witness the fastest growth on the back of rising industrial and construction spending in China and India. Countries such as Japan, South Korea are also contributing to regional market growth.
Key players operating in the 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. Key players are focusing on new product launches, acquisitions, and geographical expansion to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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