NEW YORK, Dec. 21, 2020
NEW YORK, Dec. 21, 2020 /PRNewswire/ -- Epoxy type industrial flooring holds a prominent share in the industrial flooring market, owing to its low cost, physical & chemical properties, and wide range of application. Demand for this type of flooring is projected to be high across the world throughout the forecast period.
The global industrial flooring market is anticipated to expand at a CAGR of over 4% during the forecast period of 2020-2030, to be valued around US$ 12.4 Bn by 2030.
Key Takeaways from Industrial Flooring Market Study
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"Rapid industrialization and urbanization in East Asia is expected to bolster demand for industrial flooring in the region. Moreover, steady shift of automotive production from Europe to East Asia is further expected to push demand in the coming decade," says a PMR analyst.
Market Landscape Continues to Remain Highly Fragmented
The global industrial flooring market is highly fragmented at global and regional levels. Top tier international manufacturers account for less than one-fifth of the global industrial flooring market share.
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Some of the leading players included in the report are BASF SE, Sika AG, RPM International Inc., Mapei Group, Forsoc International Limited, Don Construction Products Limited, Cipy Polyurethanes Pvt. Ltd., Viacor Polymer GmBH, Twintec, Acrylicon, Cornerstone Flooring, Applied Flooring, and others. Manufacturers are focusing on new product development and material innovation to stay ahead of their competitors.
Industrial Flooring Market: Conclusion
Demand for industrial flooring is projected to grow steadily, with major growth concentrated in sectors such as automotive, food, and chemicals. Pharmaceutical and bio-technology industries can open new opportunity avenues for the industrial flooring market.
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The market is highly fragmented with a large number of regional and local manufacturers in most major geographies. Regions such Europe, North America, and East Asia hold major shares of the global market. Further, the intensity of competition in the industrial flooring market is only set to increase as international players develop increasingly localized supply chains to gain an advantage over domestic competitors.
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Persistence Market Research has published a market research report on the industrial flooring market that contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides in-depth analysis of the industrial flooring market through different segments - material type, product type, application, and region. The industrial flooring market report also provides supply and demand trends, along with an overview of the parent market.
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