Portland,OR, July 05, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial flooring market accrued $7.9 billion in 2021, and is predicted to garner $13.5 billion by 2031, registering a CAGR of 5.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Thriving food and beverages industry and rise in consumer and government expenditure on food sector in countries such as India, the U.S., and China will drive the global industrial flooring market growth. However, lack of workforce and raw materials leading to restricted supply of industrial flooring devices will hinder the market expansion. Nevertheless, re-opening of production units and launching of vaccines for COVID-19 are set to create new growth opportunities for market.
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COVID-19 Scenario
- The COVID-19 pandemic impacted the expansion of industrial flooring market, due to lockdown in various countries and delay in manufacturing of industrial flooring materials such as anhydrite and epoxy.
- Due to COVID-19 outbreak, many manufacturers in the industry had to halt their business in countries such as India, China, and the U.S. This directly affected the sales of industrial flooring companies.
The report offers detailed segmentation of the global industrial flooring market based on end user industry, thickness, material type, and region.
Based on end user industry, the food and beverages segment contributed toward the largest market share in 2021, accounting for more than one-fourth of the overall share of the global industrial flooring market. Moreover, this segment is projected to register the highest CAGR of 6.4% from 2022 to 2031. The report also analyzes the segments including chemical, healthcare, transportation and aviation, others.
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Based on material type, the epoxy segment accounted for the largest share of the industrial flooring market in 2021, contributing to more than two-fifths of the overall share of the global industrial flooring market. The research also discusses the segments including polyaspartic, polyurethane, anhydrite, and others.
Based on region, Asia-Pacific contributed toward the highest market share in 2021, accounting for more than two-fifths of the global industrial flooring market. In addition, the Asia-Pacific industrial flooring market is also set to record the fastest CAGR of 6.1% from 2022 to 2031. The research also analyzes regions including North America, Europe, and LAMEA.
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Key Players:
Key players profiled in the global industrial flooring market research report are Don Construction Products Ltd., BASF SE, Twintec Group Limited, Cipy Polyurethanes Pvt. Ltd., RPM International Inc., Sika AG, Cornerstone Flooring, Fosroc, Inc., MAPEI S.p.A., and VIACOR Polymer GmbH.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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