The industrial flooring market is estimated to be valued at US$ 9.5 Bn 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.

SWOT Analysis:

·         Strength: Industrial flooring provides a durable and protective surface for industrial facilities and manufacturing plants. It offers resistance to heavy foot traffic and rolling loads from heavy machinery and forklifts. Industrial flooring also offers chemical resistance which protects the floor from spills and harsh cleaning chemicals.

·         Weakness: Installation of industrial flooring requires downtime of the facility which can impact productivity. Further, specialized tools and trained labor are required for installation which increases costs.

·         Opportunity: Growing construction activities in emerging economies of Asia Pacific and Middle East & Africa are expected to drive the demand for industrial flooring. Furthermore, rising industrialization in developing nations will boost usage of industrial flooring.

·         Threats: Presence of substitutes like concrete floors poses competition to industrial flooring. Fluctuations in raw material prices can increase the overall costs.

Key Takeaways:

The Global Industrial Flooring Market Size is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing construction activities across various industries. Rapid urbanization and growing investments in infrastructure development are driving the growth of the commercial and industrial sector. This will augment the demand for industrial flooring materials in the coming years.

Regional analysis: Asia Pacific dominates the global industrial flooring market and is expected to maintain its lead over the forecast period. Rapid industrialization and urbanization in China, India, Indonesia, and other Asian countries provide numerous opportunities for industrial flooring market growth. Furthermore, government initiatives to attract foreign investments for manufacturing sector will propel the usage of industrial flooring in the region.

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. The players focus on new product launch and expansion plans to strengthen their foothold in the lucrative industrial flooring market.

 

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