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The Cost Of Industrial Flooring Market Varies And Depends On The Thickness Of The Material Used And The Service Supplier Used.
HYDERABAD, TELANGANA, INDIA, September 29, 2022 / / -- IndustryARC, in its latest report, predicts that The size is forecast to reach $9,580.9 million by 2026, after growing at a CAGR of 5.5% during 2021-2026. Major factors driving industrial flooring market encompass rise in construction projects, expansion of oil and gas activities in Asia pacific and North America, and rising industrialization. It is therefore expected that, along with the growth of the pharmaceutical and healthcare industries during the forecast era, demand for industrial flooring will increase. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
1. Asia-Pacific dominates the global industrial flooring market, owing to increased industrial construction activities in the region. For instance, according to the Civil Aviation Administration of China (CAAC), China plans to build more than 230 new airports while expanding many others in the next 15 years.
2. According to the Interstate Natural Gas Association of America, in U.S and Canada, a total $791 billion investments in new oil and gas infrastructure will be made from 2018 to 2035. As, Industrial Flooring are extensively used in oil & gas industry, the growth in this industry will drive Industrial Flooring market growth.
3. However, due to the COVID-19 outbreak, globally functioning of various manufacturing end-use industries are hindered, owing to which the demand for industrial flooring product has substantially decreased, which is limiting the Industrial Flooring market growth during the outbreak.
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Segmental Analysis :
1. Concrete flooring held the largest share in the Industrial Flooring market in 2020 and is anticipated to grow at a CAGR of 5.0% through the forecast period. Factors such as lower concrete costs, superior performance and tensile strength make it the most commonly used material for industrial floor construction.
2. Heavy Duty (>4mm) held the largest share in the Industrial Flooring market in 2020 and is anticipated to grow at a CAGR of 5.9% through the forecast period, owning to long life span as compared to other types when used in constant fork lift truck traffic, hard plastic wheeled trolleys with some impact.
3. Healthcare held the largest share in the Industrial Flooring market in 2020 and is anticipated to grow at a CAGR of 8.0% through the forecast period. Withstanding traffic from persons, gurneys, and heavy machinery, hygienic problems are critical to the construction and maintenance of floors for health care facilities.
Competitive Landscape :
The top 5 players in the Industrial Flooring Industry are -
1. Sika AG
2. Cipy Polyurethanes Pvt. Ltd.
3. Sherwin Williams
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