Industrial Flooring Is Estimated To Witness High Growth Owing To...

Industrial Flooring Is Estimated To Witness High Growth Owing To Increased Demand From Construction And Manufacturing Industries

Posted 2023-12-14 09:24:56

SWOT Analysis

Strength: Industrial flooring provides durability, stain resistance and easy maintenance. They protect floors from abrasion, chemicals and wear & tear. Some have anti-fatigue properties to reduce operator fatigue. They are slip-resistant and safe for industrial applications.

Weakness: High initial installation cost compared to conventional flooring. Specialized materials and expertise is required for installation which increases costs. Regular repairs and maintenance is required over the life of the flooring.

Opportunity: Growing industrial sector in emerging economies of Asia Pacific and Latin America regions due to favorable business policies will drive demand. Increasing focus on workplace safety standards will boost usage of industrial flooring compliant with regulations.

Threats: Fluctuating raw material prices may increase product cost threatening margins. Growing preference for green buildings may reduce demand for conventional flooring materials in future.

Key Takeaways

Global Industrial Flooring Market Demand is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing investments in industrial infrastructure development globally. Rapid industrialization and growing manufacturing sector output in developing nations are fueling market expansion.

Regional analysis
Asia Pacific region dominates the global industrial flooring market with over 35% share driven by China, India and other Southeast Asian countries. This is attributed to strong growth of end use industries, increasing foreign investments and supportive economic policies encouraging manufacturing. Europe and North America markets are mature but still growing at a steady pace riding on technology advancements and replacement demand.

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. These players are focusing on new product launches, mergers, acquisitions and expansions to increase market share.