Report predicts concrete flooring market to grow

A report by Global Insight Markets has predicted significant growth in the global concrete flooring market over the next six years.

The estimated value of the concrete flooring market was $1.41bn in 2019 and is expected to exceed $1.77bn by 2026, a compound annual growth rate (CAGR) of 6.2% between 2020 and 2026.

The main driver of the market growth is the demand among warehouses and manufacturing companies for versatile and low-cost flooring. Many countries are expanding their manufacturing capacity and need more concrete floors for their factories.

Commercial spaces often use types of concrete that enhance the design of areas where their customers visit. Concrete floors do not have to be standard grey, and are available in any colour to match the design of a particular area.

The report highlights that many governments in Latin America and the Asia-Pacific region are promoting manufacturing, and these markets provide many opportunities for concrete floor installers.

However, growth is expected in the UK and European markets as well. In 2019, 25% of the world demand for concrete flooring came from Europe, where environmental concerns have led to major companies like BASF and Henkel developing eco-friendly concrete floors.

Concrete floors have a long history and have been used since around 1400BC, with concrete being a material of choice by the Romans between 300BC and 476AD. Today, there are many flooring options available, but as the Global Insights Markets report shows, the demand for this ancient flooring material continues to grow.