Published 08-03-2022
| Article appears in February 2022 Issue

Dynamic growth for global floor market

04-03-2022

The high performance flooring system market size is estimated to reach US$15.29 Billion in 2028. This is being driven by increasing use of heavy-duty flooring materials in various industrial and commercial facilities is a key factor driving global market revenue growth.

According to the latest report by Reports and Data, the global High Performance Flooring System Market size is expected to reach US$15.29 billion in 2028 and register a revenue CAGR of 5.7 percent over the forecast period. Rapid urbanization and increasing construction activities globally are driving market revenue growth.

A high-performance flooring system is used in indoor flooring due to its high strength and durability. It is mainly used in commercial buildings and luxury residences. Extensive implementation of heavy-duty flooring materials in various end-use applications is driving the growth of the high-performance flooring system market. Additionally, rapidly growing commercial and residential construction and expansion of various end-use industries across the globe are driving market revenue growth.

Meanwhile, increasing interest in sports and fitness, the emergence of gyms and sports centres is creating a high demand for robust and long-lasting floors with aesthetic appeal. The need for recreation centres for engagement, wellness, and community requirements for both staff and users are contributing to the revenue growth of the market.

Market dynamics

The global chemicals and materials have a wide range of application areas such as crop protection, animal nutrition, dietary supplements, preservatives, flame retardants, surface ingredients, active pharmaceutical ingredients, and matting agents among others. Population explosion along with rapid economic growth is expected to propel market growth. Moreover, the growing urbanisation, rapid industrialization, and high investment in infrastructure development create market demand over the forecast period.

In September 2021, Diversify expanded its high-performance flooring portfolio with the addition of Epoxy Systems International. Epoxy Systems International has technical expertise and experience to match Diverzify’s safety, quality, and performance values.

Epoxy flooring provides high-quality professional-grade characteristics such as high resistance from water and heat. Epoxy is one of the most extensively used flooring incorporated in automotive industries and garages for its superior resistance against gasoline, oil, transmission fluid, bleach, cleaners, and others. Also, its high longevity, anti-fatigue properties, and hassle-free installation with flawless, elegant shine make it ideal for commercial, as well as residential use.

The North American market accounted for a steady revenue share in 2020, attributed to the expansion of the wood flooring industry in the US and increasing demand for high-performance hardwood flooring in residential and commercial buildings. In addition, the presence of retailers such as Home Depot and Lowes and leading manufacturers such as Mannington Mills, Inc. is anticipated to propel market revenue growth.

The concrete segment accounted for a steady revenue share in 2020. Concrete materials are cost-effective, extremely tough, and highly durable and are used in most high-performance industrial subfloor systems. These floors are suitable for application in a wide variety of factories with high precision in desired design and appearance.

The industrial segment accounted for a significant revenue share in 2020 as high-performance flooring is incorporated for heavy-duty operations in industrial premises such as workshops, packaging areas, welding areas, manufacturing facilities, loading docks, warehouses, and foundry shops.

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