Industrial Concrete Flooring Market

COVID-19 Impact analysis

• The COVID-19 pandemic has ceased the production of various products and provision of services in the industrial concrete flooring industry, which is attributed to the global lockdown. This has hampered the growth of industrial concrete flooring market in the year and a similar trend is expected to be seen in the first half of 2022.
• The major demand for industrial concrete flooring solutions were previously noticed from giant developed and developing countries including the U.S., Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for industrial concrete flooring market.
• Further, the long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Industrial concrete flooring solutions providers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• Industrial concrete flooring solutions providers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

Increase in private-public partnerships (PPPs) to promote infrastructural development is one of the important driving factors for the industrial concrete flooring market. PPPs have been implemented in various countries, such as South Korea and India. The boost in PPPs and surged investments through private channels can assist in boosting the infrastructure industry; thereby, driving the demand and growth of industrial concrete flooring market. Moreover, the rise in industrialization is one of the major factors driving the growth in the industrial concrete flooring market. In addition, the rapid urbanization is increasing the demand for the residential and commercial building, this is anticipated to boost the demand in concrete flooring market. However, the dearth of skilled labor and labor shortage is one of the restraining factors hindering the growth of industrial concrete flooring market. Contrarily, technological developments in industrial concrete flooring products such as fiber mesh reinforcement and other such innovations are anticipated to create lucrative opportunities for the growth of industrial concrete flooring market during the forecast period.

Market Trends

• New products that contain improved capabilities are launched by leading market players. They take necessary steps to improve overall functionality of the products. For instance, in February 2022, UltraFloor, a concrete floor solutions provider, launched ‘Level IT Hydra Bond’. It is one-of-a-kind water-based floor leveler that can be applied to bitumen and adhesive residues without the need for priming. The product launch has enhanced the product offerings of the company to sustain the competition in the industrial concrete flooring market.
• Similarly, competitors in the industrial concrete flooring market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in August 2018, Twintec, based in US acquired Kalman Floor Company in the U.S. This move by Twintec will enable it to enhance its geographic locations and product offerings.
• Moreover, collaboration strategies assist in enhancing the geographic footprint and leveraging the technology of other companies in the same business. This will help in gaining significant market share for industrial concrete flooring products. For instance, in December 2020, Sika, a provider of concrete flooring solutions, expanded its cooperation with CiDRA Concrete Systems Inc., based in US. CiDRA specializes in the IoT-based digital systems to monitor concrete properties during transport. Sika and CiDRA will offer this service in countries apart from the US and Canada, where they offer now.
   

Key Benefits of the Report

• This study presents the analytical depiction of the industrial concrete flooring industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the industrial concrete flooring market share.
• The current market is quantitatively analyzed to highlight the industrial concrete flooring market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed industrial concrete flooring market analysis based on competitive intensity and how the competition will take shape in coming years.