Rising Awareness about Hygiene, Strict Regulations, and Growth in Industrial Building Construction is Influencing the Industrial Floorings Market. Industrial Flooring Market size is forecast to reach $9,580.9 million by 2026, after growing at a CAGR of 5.5% during 2021-2026.

The industrial flooring market is growing at a significant rate during the forecast period, owning to growing awareness of the hygiene and strict regulations enacted by the regulatory authorities concerning the maintenance of safety and hygiene standards in industrial workplaces and rapid urbanization, which stimulates the development of the industrial sector. According to the Bureau of Labor Statistics (BLS), in January 2019, among all injuries that occurred due to falls, slips, and trips, 14.7 percent occurred alone due to slips and trips which can be attributed to poor flooring conditions. This indicates the need for proper industrial flooring.

According to the Interstate Natural Gas Association of America, in U.S and Canada, a total of $791 billion investments in new oil and gas infrastructure will be made from 2018 to 2035. In addition, according to International Monetary Fund, by 2023, oil demand will reach 104.7 mb/d, up by 6.9 mb/d from 2017. Industries such as oil and gas, chemical processing, involve processing in high temperature and high-pressure environment where the risk of floor damage is high and therefore industrial flooring is extensity used in the industries. Furthermore, as per the European Automobile Manufacturers Association, car registrations in Europe reached nearly 15 million in 2018. In addition, according to the International Energy Agency, in 2018, 3.29 million electric vehicles deployed globally and the number will increase up to 125 million by 2030. Industrial flooring combines strength and durability with excellent sanitation and minimal maintenance. Therefore, it is widely used in the automotive and transportation industry. According to International Trade Administration (ITA), the Chinese government is expecting automobile output to reach 35 million by 2025. Therefore, these growths are indicating the need for more automotive manufacturing plants, which is expected to influence industrial flooring market growth.

Asia Pacific is anticipated to emerge as a major player in the global market arena over the forecast period mainly driven by the robust growth in various end-use industries such as aerospace & defense, automotive, and other industries. According to the International Organization of Motor Vehicle Manufacturers, China’s automotive production reached 27.8 million units and accounted for 29% of the global automotive production in 2018. In addition, in 2019, according to the International Trade Administration (ITA), China is the world’s second largest civil aerospace and aviation services market and one of the world’s fastest-growing. In 2016, according to Boeing, China is estimated to require around 6,810 new commercial aircraft, valued at $1 trillion, over the next two decades. Furthermore, according to the International Trade Administration (ITA), in 2018 the Indian government spent a total of $645 in the civil aviation sector. According to Boeing, between 2012 and 2018, the world added a net 176 airports. Most of these (165) were in the Asia-Pacific region. In addition, the construction of 17 new airports are planned by 2030 in the Asia-Pacific region that will further influence industrial flooring market growth. However, operations in various industries such as energy, automotive, aerospace, and mining are being significantly affected due to the COVID-19 epidemic, as most countries have issued “stay at home guidance” i.e., lockdown. The new chemical, aerospace, and automotive facility construction projects have been halted and are facing issues such as late delivery and increased import-export tariff of industrial floorings, which is heavily affecting the industrial flooring market growth.

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Industrial Flooring Market Growth Drivers:

The Growing Demand of Industrial Flooring Across the Core Sector:

Industries play a major role in a nation's development by promoting economic growth, national income, and promoting people's living standards. Industry is the field of work in which raw materials are obtained, stored, refined, turned into finished goods, packed, stored, circulated, and so on. This stimulates the need for high-quality flooring that can handle the overall wear and tear of a busy manufacturing climate, but also for health and safety. To fit both of these, the flooring must be long-lasting and sustainable. Industrial floors is majorly used in Aircrafts Hanger, Manufacturing & Packaging of Drinks, Chemical Production, Cold Storage / Freezer Rooms, Electrical Assembly, Heavy Machinery, Machine Shop, Warehouse, Factories, etc. Attributable to design, installation and usage defects, usually encounter issues during production and manufacturing, owning to this, the manufacturers are highly consuming industrial flooring products in order to reduce the issues and defects that can lead to major hazard during manufacturing, this factor tends to increase the demand of industrial flooring in high manner.

Research & Development:

Increased production operations, along with upgrades and renovations to existing flooring in the production units, are increasing the need for better and better materials and solutions for industrial flooring construction. Also, the growing demand for industrial flooring has created huge growth opportunities for coatings, polymers, sealants, cement, caulks, asphalt additives, and other construction chemicals used in flooring for last lasting performance in low-cost range. Being one of the major producers of automotive, the European region has expanded its automotive production plants and workshops in a high manner. To date, according to the European Automobile Manufacturers Association, over 298 automobile assembly and engine manufacturing plants have been set up in Europe, of which 196 are based within the European Union (EU27). Overall, 142 assembly plants in Europe manufacture passenger cars, 38 produce light commercial vehicles (vans), 58 produce heavy-duty vehicles (trucks), 58 produce buses, and 71 produce engines. The growing expansion of production plants as well as the rising maintenance of old manufacturing facilities leads to increasing the demand for industrial flooring in order to maintain the long-lasting performance of floors and to reduce the breakdown of floors against heavy impacts. Also, government initiatives further support and facilitate the use of energy-saving and environmentally-friendly goods have opened new doors for industrial flooring in terms of production using organic materials. This will open up new markets for manufacturers, contractors, and installers of flooring products to deliver creative flooring solutions that can also provide further energy-saving and recycling benefits. The increasing manufacturing facilities with inbuilt high technological automation machines leads to an increase in the demand for new industrial flooring that can withstand heavy loads and other impacts while manufacturing, thus, influencing the players to invest in R&D and further improve their properties.

The Major Players in this Market Include

The major companies in the Industrial Flooring market include Sika AG, Cipy Polyurethanes Pvt. Ltd., Sherwin Williams, Flowcrete, AcryliCon, Cornerstone Flooring, Marvel Vinyls Limited, Twintec Group Limited, Stonhard, Armstrong Flooring, Inc., Elite Crete Systems, and Plexi-Chemie Inc. and others. These industry players are involved in various strategic initiatives to expand their presence. For instance, in September 2019, Twintec Australia and QR Construction were joined together to form a partnership that merge the companies resources, products, and designs for customers in Queensland, Australia. With the industry leading expertise of both companies, QRCS now offers the 'Total Offer Concept' principle that has a proven track record across the world.

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