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Industrial Flooring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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  • 150 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5318599
UP TO OFF until Dec 31st 2023

Quick Summary:

The intriguing dynamics of the global industrial flooring market are under the spotlight in this comprehensive market research report, a crucial arsenal for senior executives seeking to leave indelible footprints in this sector. As constructions activities world over gain momentum, this report outlines pivotal trends, the potential industry growth drivers and obstacles that executives need to be aware of to make strategic decisions and outflank the competition.

A distinct trend in the report is the burgeoning interest in bio-based flooring and polyaspartic coatings, signaling an appetizing epoch of greener industrial flooring options that is worth further investigation by forward-thinking companies. Asia-Pacific, particularly China, emerges as a fulcrum of consumption and potential growth—a finding that should influence the geographical focus of your enterprise. To further bolster chances of success, this report arms you with an intricate understanding of different user industries, with an outstanding focus on the food and beverage industry.

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.

Key Highlights

  • 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 Flooring Market Trends

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 Flooring 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.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



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
4.2 Restraints
4.2.1 Stringent Regulations on VOCs Released on Flooring
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
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)
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
5.2 Application
5.2.1 Concrete
5.2.2 Wood
5.2.3 Other Applications
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
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico
5.4.3 Europe Germany United Kingdom Italy France Russia Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
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

7.1 Increasing Popularity of Eco-friendly Bio-based Flooring
7.2 Promising Performance of Polyaspartic Coatings

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Akzo Nobel NV
  • Axalta Coating Systems
  • MBCC Group
  • Florock
  • Fosroc Inc.
  • LATICRETE International Inc.
  • Michelman Inc.
  • Nippon Paint Holdings Co. Ltd
  • PPG Industries Inc.
  • RPM International Inc.
  • Sika AG
  • Teknos Group
  • The Sherwin-Williams Company