Industrial Floorings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Industrial Floorings Market Analysis
The global industrial flooring market is projected to register a CAGR of over 5% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the market now reached pre-pandemic levels. With the easing of regulations, construction activities are expected to pick up pace in the coming years.
- Over the short term, growing awareness about the advantages of industrial flooring is expected to drive market growth.
- Stringent regulations on VOCs released on the flooring will likely hinder the market's growth.
- The increasing popularity of eco-friendly bio-based flooring and the promising performance of polyaspartic coatings are projected to provide opportunities for future market growth.
- Asia-Pacific holds the major share in the consumption of industrial flooring. The region is also expected to witness the fastest growth during the forecast period, powered by the growth in industrial activities.
Industrial Floorings Market Trends
This section covers the major market trends shaping the Industrial Flooring Market according to our research experts:
Increasing Demand from the Food and Beverage Industry
- The floor in the food processing facility is exposed to all sorts of food byproducts, like hot oils, fats, blood, sugar solutions, and natural food acids. Some of these byproducts are corrosive, which can cause serious damage to the floor.
- Besides this, the food and beverage industry includes a high risk of microbial growth due to spillage. Consequently, these contaminants ultimately degrade processed food's purity.
- To avoid such problems, the food and beverage industry requires various resins and related coatings, such as epoxy, polyurethane, polyaspartic, and MMA, to provide a protective barrier to help prevent contaminants from permeating the concrete substrate and ensure a hygienic surface.
- The Global Food Safety Initiative (GFSI), the Food Standards Agency (FSA), and the European Food Safety Authority (EFSA) have issued stipulations to ensure food factories maintain the highest standards of handling and production.
- The North American food and beverage sector saw an uptick in capital project announcements in May 2022. For instance, Phyto Organix Foods, a Canadian maker of plant-based protein for the food and beverage industry, announced the largest project of a USD 225 million facility to process yellow peas into high-purity protein isolate in Strathmore, Alberta. Turkey processor West Liberty Foods also announced plans for a USD 100 million processing facility in its native Iowa.
- Furthermore, in January 2022, Tyson Foods announced it would invest USD 355 million to build a state-of-the-art bacon plant in Bowling Green, Ky. The project is part of Tyson's commitment to meet increasing retail and food service demand for bacon products. The new facility is expected to create 450 jobs, with production beginning in late 2023.
- Grupo Bimbo was the Mexican food company with the largest net revenue in 2021, over MXN 345 billion (USD 17.02 billion).
- Pepsico was North America's leading food and beverage company overall in the 2021 financial year. The corporation had over USD 47.6 billion in sales from food and beverages processed on the continent. In the same year, Pepsico had a net revenue of USD 79.47 billion from its global operations.
- All the factors above depict a positive outlook on using industrial flooring in the food and beverage industry during the forecast period.
China to Dominate the Market in the Asia-Pacific Region
- The Asia-Pacific region dominated the global market, expected to continue during the forecast period. China is one of the major countries in Asia-Pacific, with ample construction activities supported by the growing economy.
- The chemical industry in the country grew drastically over the past two decades, in line with the overall growth of the country and the fundamentals of the key industries. China represents about one-third of the worldwide demand for chemicals.
- China is the world's largest manufacturer of chemicals, accounting for 43% of worldwide chemical sales in 2021, with a value of EUR 1,729 billion (USD 2,018 billion). From the 28.3% reported in 2011, China's global chemicals market sales share increased to 43.0% in 2021.
- The food processing industry is moving toward maturity in the country, witnessing moderate growth. The consumption trend of healthy, natural, and convenient ready-to-drink smoothies, juices, and yogurts is emerging in the beverage industry.
- In North China, there are about 42,577 food and beverage manufacturers, accounting for annual sales of over CNY 20 million (USD 2.95 million). There is continuous growth in the country's consumption of processed food products.
- China is the second-largest market for pharmaceuticals globally. The pharmaceutical market is growing rapidly, owing to the increasing middle-class and aging society present in the country, rising income levels, and increasing urbanization.
- China's pharmaceutical sector made over CNY 3.3 trillion (USD 487 billion) in total sales in 2021, an increase of about 20% yearly. The two main pharmaceutical industries in the nation are those that produce pharmaceutical preparations and Chinese patent medicines.
- Owing to all these factors, the region's industrial flooring market is projected to rise during the forecast period.
Industrial Floorings Industry Overview
The global industrial flooring market is highly fragmented in nature. Some major players in the market (not in any particular order) include Sika AG, RPM International Inc., Akzo Nobel NV, MBCC Group, and Nippon Paint Holdings Co. Ltd., among others.
Industrial Floorings Market Leaders
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MBCC Group
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Sika AG
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RPM International Inc.
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Akzo Nobel N.V.
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Nippon Paint Holdings Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Industrial Floorings Market News
- June 2022: Master Builders Solutions (MBCC Group) introduced MasterTop BC 372EPA, a new component to its epoxy-based industrial MasterTop 1273 flooring system, to the European market.
- February 2022: Nippon Paint Co., Ltd. (NPTU) launched two anti-viral and anti-bacterial water-based paint products, "PROTECTON Floor VK Clear" (for floors) and "PROTECTON Interior Wall VK Coat."
Industrial Floorings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Awareness about the Advantages of Industrial Flooring
- 4.1.2 Increasing Demand from the Food and Beverage Industry
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4.2 Restraints
- 4.2.1 Stringent Regulations on VOCs Released on Flooring
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Polyaspartic
- 5.1.3 Polyurethane
- 5.1.4 Acrylic
- 5.1.5 Other Resin Types
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5.2 Application
- 5.2.1 Concrete
- 5.2.2 Wood
- 5.2.3 Other Applications
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5.3 End-user Industry
- 5.3.1 Food and Beverage
- 5.3.2 Chemical
- 5.3.3 Transportation and Aviation
- 5.3.4 Healthcare
- 5.3.5 Other End-user Industries
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Russia
- 5.4.3.6 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) **/ Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3TREESGROUP
- 6.4.2 Akzo Nobel NV
- 6.4.3 Axalta Coating Systems
- 6.4.4 MBCC Group
- 6.4.5 Florock
- 6.4.6 Fosroc Inc.
- 6.4.7 JOTUN
- 6.4.8 LATICRETE International Inc.
- 6.4.9 Michelman Inc.
- 6.4.10 Nippon Paint Holdings Co. Ltd
- 6.4.11 PPG Industries Inc.
- 6.4.12 RPM International Inc.
- 6.4.13 Sika AG
- 6.4.14 Teknos Group
- 6.4.15 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Popularity of Eco-friendly Bio-based Flooring
- 7.2 Promising Performance of Polyaspartic Coatings
Industrial Floorings Industry Segmentation
Industrial flooring is a permanent cover over the concrete floor to enhance properties such as load-bearing capacities and chemical and abrasion resistance based on the specific end-user industry requirement. The market is segmented based on resin type, application, end-user industry, and geography. By resin type, the market is segmented into epoxy, polyaspartic, polyurethane, acrylic, and other resin types. By application, the market is segmented into concrete, wood, and other applications. The market is segmented into food and beverage, chemical, transportation and aviation, healthcare, and other end-user industries by end-user industry. The report also covers the market size and forecasts in 16 countries across major regions. The market sizing and forecasts are based on each segment's value (USD million).
| Resin Type | Epoxy | |
| Polyaspartic | ||
| Polyurethane | ||
| Acrylic | ||
| Other Resin Types | ||
| Application | Concrete | |
| Wood | ||
| Other Applications | ||
| End-user Industry | Food and Beverage | |
| Chemical | ||
| Transportation and Aviation | ||
| Healthcare | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Industrial Floorings Market Research FAQs
What is the current Industrial Flooring Market size?
The Industrial Flooring Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Industrial Flooring Market?
MBCC Group, Sika AG, RPM International Inc., Akzo Nobel N.V. and Nippon Paint Holdings Co. Ltd are the major companies operating in the Industrial Flooring Market.
Which is the fastest growing region in Industrial Flooring Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Flooring Market?
In 2024, the Asia Pacific accounts for the largest market share in Industrial Flooring Market.
What years does this Industrial Flooring Market cover?
The report covers the Industrial Flooring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Flooring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Industrial Flooring Industry Report
Statistics for the 2024 Industrial Flooring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Flooring analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
