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Industrial Flooring Market Report 2024: Strategies And Recent Developments | BASF SE, Cornerstone Flooring, Fosroc Inc., Sika AG, PPG Industries, The Sherwin-Williams Company
Industrial Flooring Market Size
The Business Research Company offers in-depth market insights through Industrial Flooring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The industrial flooring market size has grown strongly in recent years. It will grow from $7.12 billion in 2023 to $7.53 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to rise in industrial expansion, increasing demand for safety compliance, demand for chemical resistance, demand to withstand heavy equipment, increase in durability.
The industrial flooring market size is expected to see strong growth in the next few years. It will grow to $9.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising demand for sustainability, growing food and beverage sector, increasing demand in e-commerce and warehousing, rising pharmaceutical and healthcare sectors, rising regulatory changes. Major trends in the forecast period include epoxy resin flooring, polished concrete flooring, anti-static and esd flooring, fast-curing flooring systems, smart flooring.
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Market Segmentation:
The main types of industrial flooring are light-duty, medium-duty, and heavy-duty. Light-duty flooring is used in all manufacturing units and clean room areas where manpower and trolley movement are generally involved. The different flooring materials include concrete, wood, mortar, and other flooring materials. These are used in food and beverage manufacturing, healthcare, industrial manufacturing, automotive manufacturing, and other applications.
Major Driver - Rising Demand From Food And Beverage Industries Boosts Industrial Flooring Market
The increase in demand from the food and beverage sectors is expected to propel the growth of the industrial flooring market going forward. The food and beverage sector involves the processing of foods as well as beverages' packaging and distribution. The food and beverage industries require industrial flooring to meet the safety and cleanliness standards for manufacturing food and beverages. For instance, in 2021, according to Farm Credit Canada, a Canada-based financial services company, the food manufacturing sector's revenue increased to $125 billion by 14.8% YoY. Therefore, the increasing demand from the food and beverage sectors will drive the growth of the industrial flooring market.
Competitive Landscape:
Major companies operating in the industrial flooring market include BASF SE, Cornerstone Flooring, Fosroc Inc., Sika AG, PPG Industries, The Sherwin-Williams Company, Master Builders Solutions Group, Summit Industrial Flooring, Premier Industrial Flooring, Armstrong Flooring Inc., RCR Industrial Flooring, Cipy Polyurethanes Pvt. Ltd., Don Construction Products Ltd., RPM International Inc., Akzo Nobel N.V., MBCC Group, Twintec Group Limited, VIACOR Polymer GmbH, The Bonie Group, Flowcrete Group Ltd., Elgood Industrial Flooring, 3M Company, Resdev Ltd., IFI Floorings Ltd., SSC Industrial Flooring Ltd., Veitchi Group, THE IRL GROUP, Stonhard, Dur-A-Flex Inc., Key Resin Company, Tennant Company, Florock Polymer Flooring Systems, Elite Crete Systems
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Top Trend - Product Innovations Transforming The Industrial Flooring Market
Product innovations are the key trends gaining popularity in the industrial flooring market. Major companies operating in the industrial flooring market are focused on developing innovative solutions to strengthen their position. For instance, in September 2021, Topciment, a Spain-based microcement products manufacturing company launched Industtrial, an epoxy micro concrete designed for the industrial flooring market. This product combines the durability of epoxy systems with the decorative qualities of micro concretes, resulting in a new solution. Industtrial, part of Topciment's high-quality micro concrete range, offers superior hardness, mechanical strength, and impermeability. It is available in a range of granulometries and 16 attractive colors, making it ideal for interior floors and walls in high-traffic areas. This epoxy coating is particularly well-suited for industrial warehouses, garages, gallery floors, and retail spaces, and it exhibits remarkable resistance to various chemical agents.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Flooring Market Characteristics
3. Industrial Flooring Market Trends And Strategies
4. Industrial Flooring Market - Macro Economic Scenario
5. Industrial Flooring Market Size And Growth
…..
27. Industrial Flooring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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