The global 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.
Industrial flooring includes products such as epoxy flooring, polyurethane flooring, vinyl flooring, and concrete flooring which are used in industrial facilities for durability, protection, and sanitation. Industrial flooring protects workers from slipping and falling, prevents contamination of workspaces, and withstands heavy industrial traffic and chemical spills. It provides safe and hygienic working conditions in various industries including automotive, food & beverage, healthcare, and warehouse & logistics.
Market key trends:
One of the key trends in the industrial flooring market is the growing popularity of slip and wear-resistant flooring. Slip and wear-resistant flooring offers superior traction to prevent slipping accidents in wet or oily industrial environments. Epoxy and polyurethane flooring are highly durable and resistant to scratching, impact, and abrasion. They maintain an anti-slip texture even after years of use. The increasing concerns over worker safety and productivity gains are driving the demand for slip and wear-resistant industrial flooring solutions. Manufacturers are focusing on developing innovative formulations that enhance slip resistance, prolong floor life, and minimize downtime for repairs and maintenance. This trend is expected to significantly support the growth of the industrial flooring market over the forecast period.
Threat of new entrants: The industrial flooring market has moderate barriers to entry as it requires substantial R&D investments and capital to set up manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of multiple options and substitutes. However, buyers prefer brands with high quality and durability at competitive pricing.
Bargaining power of suppliers: The bargaining power of suppliers is low given the fragmented nature of raw material suppliers for industrial flooring materials.
Threat of new substitutes: There exists low threat from substitutes like tiles, paints and coatings due to advantages of industrial flooring in durability, slip resistance and chemical resistance required for industrial applications.
Competitive rivalry: Established manufacturers focus on new product innovations to cater to emerging needs of different industrial sectors.
Global Industrial Flooring Market Demand is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing infrastructural investments across industrial facilities. The Asia Pacific region dominates the global market owing to large manufacturing sector and swiftly growing industrialization in China and India. Key regional markets include North America and Europe.
The industrial flooring market in Asia Pacific region is estimated to reach around US$ 4 Bn by 2030, growing at the fastest pace. Abundant availability of raw materials along with low manufacturing costs have helped the region emerge as a major flooring manufacturer globally. Countries like China, India and Japan are expected to drive the demand with increasing investments towards industrial and infrastructure development projects.
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 market players have undertaken strategies such as acquisitions, partnerships and new product launches to secure leading positions.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it