Market Trends of South America Industrial Flooring Industry
This section covers the major market trends shaping the South America Industrial Flooring Market according to our research experts:
Strong Demand from Food & Pharmaceutical Industries
- The South American industrial flooring market is reliant on countries such as Brazil, Argentina, Chile, and Peru. These countries have large populations and growing economies, and the demand for industrial flooring has increased.
- The increasing demand for industrial flooring in manufacturing and production facilities, such as food, pharmaceutical, and automobile industries, are the primary drivers of the South American market.
- Argentina's food and beverage industry is a significant contributor to the country's economy. It is one of the country's largest industries, accounting for roughly 10% of the GDP. The industry is extremely diverse, with products ranging from traditional Argentine dishes to international cuisines. According to the USDA report, the country exported USD 6,579.31 million by the third quarter of 2021.
- The pharmaceutical industry has very specific flooring requirements. The flooring must be nonporous, easy to clean and maintain, and chemical, oil, and other contaminant-resistant. It should also be slip-resistant and durable in heavy traffic. Epoxy, vinyl, and rubber are the most common types of flooring used in the pharmaceutical industry. Argentina's pharmaceutical market is the largest in South America, with a market value of more than USD 14 billion. The country exported USD 869,586 in 2021, a 23% increase over the previous year.
- Overall, it is anticipated that the region's market for industrial flooring would be driven by the expanding food and pharmaceutical industries over the forecast period.
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Brazil to Dominate the Market
- Brazil's increasing demand for industrial flooring from various end-user industries, such as automotive, food and beverage, and pharmaceuticals, is driving the market's growth. The growing number of manufacturing facilities, the growing demand for durable and safe flooring solutions, and the growing need for improved hygiene standards in industrial settings are driving the growing demand for industrial flooring in Brazil.
- Brazil has the world's seventh-largest automotive market, with an estimated 2.24 million vehicles produced in 2021, a 12% increase from 2020, according to OICA. The Brazilian automotive industry is one of the largest and most competitive in South America, with a diverse range of vehicles produced by both domestic and foreign manufacturers. Over the last decade, the industry has expanded significantly.
- The pharmaceutical industry in Brazil is one of the largest in Latin America, and it is a major player in the global pharmaceutical market. According to the International Trade Center, the industry generated more than USD 30 billion in annual sales and exports of USD 1.103 million in 2021.
- The Brazilian food and beverage industry is one of the most significant in the world, with a market value of more than USD 200 billion. It is a significant contributor to the country's economy, accounting for approximately 10% of GDP. In 2021, more than 75% of the F&B industry's output was consumed domestically, with the rest destined for export.
- The Brazilian Food Processors' Association (ABIA) reports that in 2021, the country's food processing industry generated revenues of USD 171 billion, a rise of 16.9% from 2020.
- Considering the aforementioned factors, Brazil's industrial flooring market is anticipated to rise steadily over the forecast period.
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