Market Trends of Europe Industrial Flooring Industry
This section covers the major market trends shaping the Europe Industrial Flooring Market according to our research experts:
Strong Demand from the Chemicals Industry
- The European chemical industry contributes significantly to the European economy, accounting for more than 4% of the total manufacturing output in the EU. Eurostat predicts that the European Union will export chemicals worth USD 480.85 billion in 2021, making it the second largest manufacturing sector in the EU after the automotive industry.
- The chemical industry is also a major exporter, accounting for more than 40% of total output. European chemical products are mostly sold in the United States, China, and other European countries.
- Epoxy flooring is the most typical type of industrial flooring utilized in the chemical industry. Epoxy flooring is a tough, chemical-resistant, and simple-to-clean substance that can tolerate severe use and harsh chemicals. It may be personalized with various colors and textures and is also non-slip.
- Petrochemicals, fertilizers, plastics, paint and coatings, pharmaceuticals, adhesives and sealants, specialized chemicals, industrial gases, soaps and detergents, and paint and coatings are some of the major chemical sectors in Europe. Compared to other industries, the pharmaceutical industry contributes the most to exports.
- Europe has the third-largest pharmaceutical manufacturer in the world, with USD 266.91 billion in exports in 2021, a 14.43% increase from 2020. Some of the pharmaceutical products sold in Europe include antibiotics, vaccines, painkillers, antidepressants, anti-inflammatory drugs, and blood pressure medications.
- Plastics Europe estimates that the plastics business in Europe generated approximately USD 425.77 billion in revenue in 2021. There are 1.5 million individuals employed by the 52,000 plastic manufacturing businesses.
- Over the next few years, the growing chemical industry is expected to drive the market for industrial flooring in the region as a whole.
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Germany to Dominate the Market
- Germany is the market leader for industrial flooring in Europe. The market's expansion may be attributed to the rise in demand for industrial flooring in the food and beverage, chemical, and automotive sectors. The industry is expanding as a result of the rising demand for long-lasting and low-maintenance flooring options.
- The manufacturing and export of pharmaceutical products are at the forefront of Germany's chemical sector. In 2021, Germany's pharmaceutical exports will be valued at USD 119.27 billion, according to the UN Comtrade database. In comparison to 2020, when exports were USD 99.25 billion, this represents a growth of 20.17%.
- The application of industrial flooring in the automotive industry is crucial. It offers a sturdy, stable surface for people to walk on as well as a non-slip surface for moving cars. Germany will produce 3.3 million autos in 2021, according to OICA.
- German auto production will keep growing as a result of the nation's robust economy and commitment to innovation and technical improvement. Also, the German government has set up a number of incentives to encourage the production of electric vehicles. This could lead to an even bigger rise in the number of cars made in Germany during the projection period.
- Due to the above reasons, the industrial flooring market in Germany is expected to grow steadily over the next few years.
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