If you’re into flooring, this statistic may not surprise you. Last year, around 873 million square metres of industrial floorings were sold in the world, raking in US$7.19 billion in revenues.
According to a new report, by the end of 2024, more than one billion square metres of industrial flooring will be sold across the globe, reflecting moderate growth of around 4%. The Industrial Flooring Market: Global Industry Analysis and Forecast 2016-2024 says rising use of industrial flooring in food and beverage will boost the sales of industrial floorings, along with regulations compelling companies to undertake non-tangible measures for workplace hygiene and safety.
According to the report, the demand for medium-duty industrial flooring will remain high throughout the forecast period, with Epoxy remaining the top-selling flooring material, accounting for more than half of global industrial flooring revenues in 2017 and beyond. Industrial floorings made from polyurethane materials will also be in great demand, and the report identifies food and beverage as one of the most lucrative application for industrial floorings. “North America is poised to be one of the most lucrative regions for industrial flooring market, revenues from which will impose more than 27% share on global market value,” the report says. “The industrial flooring market in Europe will be observed as the largest market, while revenues from Asia-Pacific region will grow rampantly at 5.8% during the forecast period.” Covering industrial surfaces, especially floors, is a top priority for companies developing manufacturing plants or engineering units. Resistance to toxic and corrosive chemicals, mechanical abrasion, static and microbial outgrowth are some essential features expected from industrial floorings.
The report says that unfortunately, the global demand for industrial floorings is likely to get hampered in the years to come.” Persistence market research projects that these essential facilities provided through industrial floorings will be rendered useless as industrialisation witnesses an outright upgrade in terms of exposure to chemicals, toxins or unwanted microbes,” it says. “According to its latest report, Persistence Market Research anticipates that the global market for industrial flooring will reach US$10 billion in value by 2024-end, but at a sluggish pace of 4.3%.” Some of the major factors hampering the growth of the industrial flooring market are lack of awareness regarding selection of material and range of thickness, coupled with lack of labour skills for its application in specific end-use industries, the report says.
Selection of wrong materials for a particular flooring operation or lowering flooring thickness for heavy duty operations will lead to damage. The report expects that companies such as BASF SE, Sika AG, RPM International, Mapei UK., Fosroc, Don Construction Products, Twintec, Cipy Polyurethanes, Viacor Polymer GmbH, Acrylicon, 4m Europe, East Coast Flooring, Cornerstone Flooring, AVCON Technics Pvt and Applied Flooring will be actively partaking in the growth of the global industrial flooring market throughout the forecast period.
