The major demand for industrial decorative flooring is primarily accentuated by the galvanizing infrastructure expenditure in the sectors such as hospitals, transportation, retail, and healthcare sector. There has been an exponential rise in the construction industry owing to the rising urban population. Additionally, the shifting trend towards floor protection in manufacturing, food, and beverage, and transportation industry is stimulating the demand for decorative flooring. The thick and efficient coating is preferred by the industries owing to the usage of heavy machinery and equipment to prevent corrosion and damage to the flooring.
According to MarkNtel Advisors’ research report “Global Industrial Decorative Flooring Market Analysis, 2020”, the global Industrial Decorative Flooring market is anticipated to grow at 3.5% CAGR during 2020-25. The industrial flooring has gained a substantial market share globally owing to the technological advancements in material handling equipment with boosted mobility through wheels has influenced the intensifying need for smooth surfaces.
Catalyzing Need for Epoxy Coverings Skyrocketing the Demand for Industrial Decorative Flooring
The adoption of epoxy coverings is gaining momentum on account of low maintenance characteristics and smooth finish are promulgating the demand through 2025. Moreover, the epoxy coverings are present in various colors that attract the customers. Therefore, the segment outperformed other segments in 2019 with the highest market share. Fostering demand for high durability layers as it provides huge friction from heavy-duty machinery driving product penetration. The technology provides a glossy finish on the ground thereby, further stimulating the demand for industrial decorative flooring. The demand is projected to witness robust growth during 2020-25.
Magnification in the Demand for Construction in Asia-Pacific Surging the Demand for Industrial Decorative Flooring
China is considered as a lucrative market due to snowballing construction activity due to the growing economy. There has been a proliferating demand in the food and beverage industry, healthcare, and chemical industry. Moreover, there is an unceasing growth in the consumption of processed food products, in the country thereby aiding the growth of industries. The trend is projected to assist the growth of industrial decorative flooring through 2025 as revealed by the MarkNtel Advisors’ research report “Global Industrial Decorative Flooring Market Analysis, 2020”. Therefore, Asia Pacific dominated the global flooring market with the highest market share on account of the rise in the number of construction projects in the developing regions in 2019. Also, there is high growth in the global market in North America and Europe. Countries such as the UK, Germany, India, China, Japan, Italy, and Brazil are investing in the establishment of different industries which in turn would accelerate the demand for industrial decorative flooring during 2020-25.
According to MarkNtel Advisors’, Sika AG, Sherwin Williams, MAPEI, LATICRETE International Inc., BASF SE, Arkema S.A., Henkel AG & Company, KGaA, RPM International Inc, Akzo Nobel N.V., PPG Industries, Covestro AG, The Lubrizol Corporation, Michelman, inc., Kansai Paint Co., Ltd., The Jotun Group, Nippon Paint, Asian Paints, Teknos Group, Tikkurila Oyj, Florock are few of the leading players in the Global Industrial Decorative Flooring Market.
“Global Industrial Decorative Flooring Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Industrial Decorative Flooring providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Floor Material (Wood, Concrete, Other Floor Material (Stone, Granite, Tiles)
2. By Technology (Epoxy, Polyurethane, Cementitious, Acrylic, Polyuria, Polyaspartic, Other Resin Types),
3. By Component Type (Primer, Base Coat, Grout / Seal Coat, Top Coat),
4. By End-User Application (Food, Beverage & Pharma, Automotive & Engineering, Airports, Bus Stations, and Train Terminals, Logistics & Distribution, Commercial (Schools, Museums, Retail, Leisure, Healthcare Facilities and Others, Commercial and Public Buildings), Others),
5. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, South East-Asia, UAE, Saudi Arabia),
6. By Company (Sika AG, Sherwin williams company, MAPEI, LATICRETE International Inc., BASF SE, Arkema S.A., Henkel AG & Company, KGaA, RPM International Inc, Akzo Nobel N.V., PPG Industries, Covestro AG, The Lubrizol Corporation, Michelman, inc., Kansai Paint Co., Ltd., The Jotun Group, Nippon Paint, Asian Paints, Teknos Group, Tikkurila Oyj, Florock)
Key questions answered in the study:
1. What are the current and future trends of the Industrial Decorative Flooring industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Industrial Decorative Flooring industry?
5. What are the customer orientation, purchase behavior, and expectations from the Industrial Decorative Flooring firms across various regions?