At 5.9% CAGR, Asia Pacific Industrial Concrete Flooring Market is Projected to be Worth US$ 24,193.23 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific industrial concrete flooring market was valued at US$ 15,273.42 million in 2022 and is projected to reach US$ 24,193.23 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Increasing demand for polished concrete for industrial flooring and growing industrial construction activities are among the critical factors attributed to drive the Asia Pacific industrial concrete flooring market growth.

The industrial construction sector is experiencing rapid growth due to several factors, such as the growing construction of new factories and industrial facilities, rising investments, and increasing government initiatives. In 2023, the Government of India announced its " National Industrial Corridor Programme". The goal of the project is to create new industrial cities that are "Smart Cities" by combining next-generation technology with infrastructural sectors. As part of the National Industrial Corridor Programme, the government is creating a number of industrial corridor projects with the goal of creating futuristic industrial towns in India that can rival the world's top investment and manufacturing hubs. Also, after the project was launched in Q1 2019, construction on the Container Port and Industrial Logistics Park in Surabaya, East Java, Indonesia, began in Q4 2023. Additionally, Thailand offers international enterprises a plethora of investment prospects, given its status as the second largest economy in ASEAN, following Indonesia. Over the years, the nation has seen a rise in both export-oriented industry and domestic spending, which has led to the country being an upper-middle income country in 2011. The Sino-US trade tensions are also helping Thailand, as a number of Chinese companies are shifting a portion of their supply chains, particularly for electronics, chemicals, and automotive products, to Thailand. The aggregate amount of international and domestic investment applications in 2021 was US$19.4 billion, according to a February 2022 announcement from the Board of Investment (BOI). This is a 59% increase from the previous year. Concrete flooring is highly used in different industrial environments. Therefore, the increase in industrial construction activities in different regions is driving the demand for different construction materials, including concrete flooring.

On the contrary, availability of alternative products hampers the growth of Asia Pacific industrial concrete flooring market.

Based on type, the Asia Pacific industrial concrete flooring market is segmented into overlays, polished concrete, epoxy chip flooring, and others. The epoxy chip flooring segment held 47.2% market share in 2022, amassing US$ 7,206.76 million. It is projected to garner US$ 11,471.40 million by 2030 to register 6.0% CAGR during 2022-2030.

Based on application, the Asia Pacific industrial concrete flooring market is segmented into manufacturing facility, warehouses, and others. The manufacturing facility segment held 71.8% market share in 2022, amassing US$ 10,971.94 million. It is projected to garner US$ 17,606.10 million by 2030 to register 6.1% CAGR during 2022-2030.

Based on end-use industry, the Asia Pacific industrial concrete flooring market is segmented into food and beverages, chemicals, healthcare, transportation, and others. The food and beverages segment held 31.2% market share in 2022, amassing US$ 4,759.52 million. It is projected to garner US$ 7,838.44 million by 2030 to register 6.4% CAGR during 2022-2030.

Based on country, the Asia Pacific industrial concrete flooring market is categorized into Australia, China, India, Japan, South Korea, Vietnam, and the Rest of Asia Pacific. Our regional analysis states that China captured 45.9% share of Asia Pacific industrial concrete flooring market in 2022. It was assessed at US$ 7,013.08 million in 2022 and is likely to hit US$ 11,594.39 million by 2030, registering a CAGR of 6.5% during 2022-2030.

Key players operating in the Asia Pacific industrial concrete flooring market are Becosan UK Ltd, Concretech One, Primekss SIA, RCR Industrial Flooring SLU, Sika AG, Sintokogio Ltd, Twintec Group Ltd, and UltraTech Cement Ltd, among others.

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