Industrial Flooring Market Insights with Statistics and Growth Prediction 2020 to 2025
The global industrial flooring market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period.
Industrial Flooring Market Segmentation:
This report on Global Industrial Flooring market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Industrial Flooring. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).
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Global Industrial Flooring market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including BASF SE, PPG Industries, Inc., The Sherwin Williams Company, and AkzoNobel N.V, amongst others.
Increasing Demand from Food & Beverage Industry
- Cleanliness and purity are of paramount importance in the food and beverage industry. Due to this, it is mandatory for this industry to apply an appropriate protective coating on the concrete floor.
- An appropriate floor coating is mandatory for this industry because the floor in food processing facility is exposed to all sorts of food byproducts, like hot oils, fats, blood, sugar solutions, and natural food acids. Some of these byproducts are corrosive in nature, which can cause serious damage to the concrete.
- Besides this, the risk of microbial growth, due to spillage, is high in the food and beverage industry. Consequently, these contaminants ultimately degrade the processed food’s purity.
- In order to avoid such problems, the industry requires durable and thick floor coatings, which can provide a protective barrier and thereby help in preventing contaminants from permeating the concrete substrate, ensuring a hygienic surface.
- Some of the floor coatings approved and used in the food and beverage industry includes epoxy, polyurethane, polyurea, and methyl methacrylate (MMA).
China to Dominate the Market in Asia-Pacific Region
- Asia-Pacific region dominated the global market and the trend is expected to continue during the forecast period. China is one of the major countries in Asia-Pacific, with ample construction activities being supported by the growing economy.
- The Chinese segment of the market studied is expected to record a significant CAGR during the forecast period, owing to the growing end-user industries, such as food and beverage industry, chemical industry, etc.
- Currently, in North China, there were about 42,577 food and beverage manufacturers, which accounted for annual sales of over RMB 20 million. There is a continuous growth in the consumption of processed food products, in the country. This trend is expected to aid the growth of the food and beverage industry, which, in turn, is expected to drive the consumption of industrial flooring, during the forecast period.
- The chemical industry in the country has grown drastically over the past two decades, in line with the overall growth of the country and fundamentals of the key industries. China represents about one-third of the worldwide demand for chemicals. The manufacturing of chemicals in the country is expected to record significant growth, in the coming years, thus augmenting the consumption of industrial flooring in the country.
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This independent 120 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Industrial Flooring market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2025.
Key Points of this Report
• Impact of low unit costs, diversified product ranges and intense competition on the market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Regional analysis of the market
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
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