Industrial flooring market is likely to witness a significant CAGR of 4.3% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Industrial flooring market
Industrial flooring market is likely to witness a significant CAGR of 4.3% during the forecast period. The prime factor contributing to the demand for industrial flooring is the growing awareness about hygiene and stringent regulations enacted by regulatory authorities pertaining to maintenance of safety and hygiene standards in industrial workplaces.
North America is estimated to be the largest industrial flooring market during the forecast period. Whereas, emerging countries in Asia-Pacific such as China, India, and Indonesia to grow at the highest rate during the forecast period with the increasing awareness on food and worker safety and with regulations imposed. Food & beverages, automotive, and chemical industries to be the prime drivers for industrial flooring in the region.
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Report Scope & Market Segmentation
Industrial Flooring Market Share: By Flooring Material Type
Based on the flooring material type, the market is segmented as concrete, rubber & PVC, epoxy, vinyl, and others. Epoxy to remain the largest material type during the forecast period. Epoxy based floors are durable, strong, chemical resistant, and are compatible with a wide range of base substrate layers. These floors are preferred in industries, warehouses, ad industrial environments requiring high chemical resistance.
Industrial Flooring Market Share: By End-Use Industry Type
Based on the end-use industry type, the market is segmented as food & beverages, chemical & pharmaceuticals, mechanical manufacturing, logistics and warehouses, healthcare, and others. Food & beverages to remain the dominant end-use industry during the forecast period. Industrial flooring is critical in the food & beverages industry as meeting hygienic standards are highly important. Stringent regulation by the US Food & Drug Administration (US FDA), the Global Food Safety Initiative (GFSI), the Food Standards Agency (FSA) and the European Food Safety Authority (EFSA) to ensure the highest standard of handling and production will drive the industrial flooring market in food & beverages industry.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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