The industrial flooring market size was valued at $7.9 billion in 2021, and is estimated to reach $13.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031. Any layer of finish material laid over a floor structure to give permanent covering is referred to as floor covering. Epoxy, polyaspartic, polyurethane, anhydrite, and others. are all common flooring materials.
The market is expected to develop due to rise in demand for industrial flooring materials in the growing industrial sector. Furthermore, the flooring business is predicted to benefit from the rise in demand for hard flooring, which has appealing qualities such as being more usable, easier to use, and are installed in remodeling and restoration of industrial and commercial projects. In addition, the rise in government investments in the approaching construction and manufacturing sector expansion is expected to boost the flooring industry during the forecast period.
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Driving Factors:
Asia-Pacific accounting major industrial flooring market share of the global market has dominated the global industrial flooring market in terms of revenue in 2021 owing expansion of and commercial sectors. However, Asia Pacific is expected to register highest CAGR during the industrial flooring market forecast period. This is due to increase in R&D investments in developing countries and rise in government investments day-by-day in new industrial construction and manufacturing factories.
Various government are taking initiatives to enhance the living standard of citizen. For instance, the Government of Canada launched a $30 million rebate scheme in June 2020, which is expected to assist to save a considerable amount of money on building industries and manufacturing projects. Hence, this investment is expected to provide lucrative growth in the industrial flooring market. Hence, these investments are expected to provide significant growth in industrial flooring market.
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Top Players:
VIACOR Polymer GmbH, BASF SE, Cipy Polyurethanes Pvt. Ltd., Cornerstone Flooring, Don Construction Products Ltd., Fosroc, Inc., MAPEI S.p.A, RPM International Inc., Sika AG, Twintec Group Limited
Segments of the Market:
By End User Industry –
Chemical
Food and Beverages
Healthcare
Transportation and Aviation
Others
By Thickness –
Light duty
Medium Duty
Heavy Duty
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