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HomeSector FocusGlobal industrial flooring market surges to $7.12 billion in 2023 despite economic...

Global industrial flooring market surges to $7.12 billion in 2023 despite economic challenges

The global industrial flooring market grew from $6.74bn in 2022 to $7.12bn in 2023 at a compound annual growth rate (CAGR) of 5.7%.

The Russia-Ukraine war disrupted the chances of global economic recovery from the Covid-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe.

The industrial flooring market is expected to grow to $8.53bn in 2027 at a CAGR of 4.6%.

The industrial flooring market includes revenues earned by entities by providing enhanced durability and resistance to abrasion (materials such as epoxy, polyaspartic, polyurethane, and anhydrite). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Industrial flooring refers to a process that provides the foundation for floor surfaces by permanently covering the floor using various materials. Industrial flooring is used to provide durability and resistance to abrasion, heavy traffic, and heavy loads to the surface. Industrial flooring offers a variety of designs, textures, and colours to the floor.

Asia-Pacific was the largest region in the industrial flooring market in 2022. The regions covered in the industrial flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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.

The increasing demand from the food and beverage sectors is expected to propel the growth of the industrial flooring market going forward. The food and beverages 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 $125bn by 14.8% YoY. Therefore, the increasing demand from the food and beverage sectors will drive the growth of 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 May 2020, AkzoNobel NV, a Netherlands-based company that operates in industrial flooring solutions, launched the microbial resistant ‘Interpon D1000 & D2000’ range of powder coatings based on ‘BioCote’ antimicrobial technology that protects against microorganisms such as bacteria and mould, which will cause bad odours and material degradation. Integrated antimicrobial coating technology will reduce 99.9% of microorganisms to avoid cross contamination and keep the surface clean for a long time. This innovative product has been useful on surfaces in hospitals and clinics where maintenance of cleanliness and hygiene is mandatory to avoid contamination.

In April 2022, RCR Industrial Flooring, a Spain-based company that manufactures industrial flooring products, acquired Solastra for an undisclosed amount. With this acquisition, RCR Industrial Flooring aimed to become the leading provider of industrial flooring solutions in the French market. Solastra is a France-based company that provides industrial flooring.

The countries covered in the latest Research & Markets industrial flooring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and the US. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography in the market, irrespective of where they’re produced. It doesn’t include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The industrial flooring market research report is one of a series of new reports from the publisher that provides industrial flooring market statistics, including industrial flooring industry global market size, regional shares, competitors with an industrial flooring market share, detailed industrial flooring market segments, market trends and opportunities, and any further data you may need to thrive in the industrial flooring industry.

This industrial flooring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
This product will be delivered within 1-3 business days.

Major players in the industrial flooring market are BASF SE, Cornerstone Flooring, Fosroc Inc., Sika AG, PPG Industries, The Sherwin-Williams Company, Master Builder Solutions Group, Summit Industrial Flooring, Premier Industrial Flooring, Armstrong, and RCR Industrial Flooring.

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