Industrial Flooring Market: Overview
Industrial flooring market has evolved heavily on the back of changing requirements of end-use industries, especially in logistics industries. Providers of industrial flooring solutions and chemical companies developing materials for the flooring system have strongly focused on meeting industry-specific needs. Flooring in industrial facilities should portray performance that are a proper combination of quick installability, aesthetics, economy, longevity, slip resistance, functionality, quality, durability, and moisture resistance. Perhaps the most discerning factor that can affect the choice of end-use industries in the industrial flooring market is eco-friendliness. Industries world over are increasingly leaning on adopting flooring solutions that allow end-use industries meet the sustainability quotient.
Some of the key materials used in the industrial flooring market are epoxy, concrete, rubber and PVC, epoxy, and vinyl. Epoxy-chemistries have attracted the attention of industrial flooring solutions providers. The growth trajectories in the industrial flooring market is influenced by the rise in demand for various systems in food and beverages, chemical, pharmaceutical, mechanical manufacturing, logistics, and healthcare.
Industrial Flooring Market: Key Trends
The drive for new solutions industrial flooring market hinges on the rapid pace of industrialization in various parts of the world. The demand has grown prominently in commercial facilities such as transportation, warehouses, and bulging industrial activities in SEZs. New methods of reinforcement of concrete and laying process are boosting the generation of opportunities in the industrial flooring market. The choice of the process helps in enhancing the performance such as strength and flexibility.
Over the past few years, the durability and flexure strength have been high on agenda for solution providers in the industrial flooring market. More prominently, end users have demanded that not just performance attributes, flooring should also meet eco-friendliness. The paints used and the processes employed must reflect this, all of which shape the emerging trajectories of the industrial flooring market. Constant advances in the chemistries have enabled solution providers to equip flooring with unique chemistries and hence unique performance.
A new avenue in the industrial flooring market has come from the demand for specialized industrial flooring solutions for food factories. A great deal of momentum to the demand comes from the stringent implementation of regulations. Organizations at the forefront of updating the norms are the Food Standards Agency (FSA), the European Food Safety Authority (EFSA), and the Global Food Safety Initiative (GFSI).
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Industrial Flooring Market: Competitive Analysis and Key Developments
Players in the industrial flooring market are keen on expanding the array of advantages of flooring systems. Emerging and established players in the market are keen on meeting numerous specifications. This has expanded the assortment of flooring systems that meet antistatic specifications, scratch and thermal resistance, and better stability in thermal vibrations.
International players have shifted their attention to emerging markets. They are conducting extensive research aimed at utilizing the potential of copolymers in rendering unique chemistries in industrial flooring. New entrants have grown their efforts in raising awareness about the role of industrial flooring in operational and cost factors. Numerous prominent companies are keen on harnessing the properties of pigments, additives, and nano-materials in a bid to differentiate their offering.
Some of the key players in the industrial flooring market are MarvelVinyls, Fosroc, Inc., Epufloor, Elite Crete Systems, Cornerstone Flooring, Cipy Polyurethanes Pvt. Ltd., BASF SE, ArmorPoxy, and AcryliCon.
Industrial Flooring Market: Regional Assessment
The industrial flooring market is seeing substantial opportunities and growth segments in North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific. Developing economies has seen the demand spiraling. This is driven by the sheer pace of the warehousing and logistics sector. Economies in Asia Pacific have seen a vast uptake due to the growing government support, an example being setting of SEZs in India.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.