According to a new report published by UnivDatos Markets Insights, the industrial flooring market is expected to grow at a CAGR of around 5% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the industrial flooring market is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into the type (epoxy, polyaspartic, polyurethane, acrylic, and others); end-user (food & beverage, chemical, transportation, healthcare, and others); region/country.
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The industrial flooring market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the market. The industrial flooring market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the industrial flooring market at the global and regional levels.
Market Overview
The strong load bearing and abrasion resistance flooring is one of the important factors which can play a crucial role in deciding the facility’s operational performance. Companies decide what type of flooring they require based on their types of operations. The performance of the industrial flooring market is highly linked with construction activities and over the years, the construction industry has showcased significant growth owing to increasing investment in the infrastructure sector. However, the global construction industry faced a severe downfall in 2020 owing to halted construction activities in the light of COVID-19 which eventually had a negative impact on the industrial flooring market. In addition, the fluctuating raw material price due to volatile hydrocarbon prices, and the construction industry crisis in China, the largest construction industry, has also impacted the market.
However, it is expected that as the global economy started showing recovery, the construction industry is also showing an upward trend, eventually, fueling the market for industrial flooring.
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted industrial operations in a negative way, which has impacted the demand for industrial flooring as its highly dependent on industrial performance. Further, halted construction activities have also affected the market negatively.
The global industrial flooring market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is categorized into epoxy, polyaspartic, polyurethane, acrylic, and others. Among these, epoxy held a prominent share of the market. Long-lasting for up to 30 years in light conditions and up to 20 years in heavy industrial operations along with the ability to handle industrial hazards like cracking, abrasion, corrosion, temperature extremes, and chemical spills, are some of the benefits of using epoxy flooring owing to which consumers preferred it over conventional concrete flooring
· Based on end-user, the market is categorized into food & beverage, chemical, transportation, healthcare, and others. Among these, the food & beverage industry held a significant position in the market. In the food & beverage industry, conventional flooring like concrete does not meet the requirement due to the acidic nature of vegetable oils, animal fats, sugars, and dairy products among others. In addition, the industry operates at high-volume operating conditions, thus requiring advanced flooring structure
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Industrial Flooring Market Geographical Segmentation Includes:
· North America (The United States, Canada, and the Rest of North America)
· Europe (Germany, The United Kingdom, France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific held a significant share of the industrial flooring market in 2020 and is expected to retain its position during the forecast period. This can be attributed to the large industrial sector in the region, especially in countries like China, India, Japan, and South Korea. Moreover, increasing industrialization along with the shifting of manufacturing facilities from western economies to regional countries is creating demand for industrial flooring.
The major players targeting the market include
· MBCC Group
· Sika AG
· RPM International Inc.
· Akzo Nobel N.V.
· Nippon Paint Holdings Co. Ltd.
· The Sherwin-Williams Company
· Fosroc Inc.
· Jotun A/S
· PPG Industries Inc.
· LATICRETE International Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the industrial flooring market?
• Which factors are influencing the industrial flooring market over the forecast period?
• What are the global challenges, threats, and risks in the industrial flooring market?
• Which factors are propelling and restraining the industrial flooring market?
• What are the demanding global regions of the industrial flooring market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
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