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The non-resilient flooring industry is expected to be worth USD 470 billion by 2032. Factories often deploy heavy-duty equipment and machines which require hard surfaces such as concrete to provide reinforcement and stability at their bases. With industrialization growing at a staggering rate, the number of manufacturing facilities is expected to rise, augmenting the demand for hard non-resilient floorings.
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The industrial flooring market is estimated to amass USD 33 billion by 2032. Flooring is an essential element in various industrial applications including aviation hangers, refineries, and manufacturing facilities. Growing government spending on manufacturing plants, in addition to swift industrialization, has thus augmented the demand for these floorings. Further, shifting consumer priorities towards chemical resistance flooring with high mechanical strength and enhanced finishing ability will also increase product acceptance.
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The Asia Pacific flooring industry size is projected to attain 4.5% gains between 2023 and 2032. This is attributed to the speedy infrastructural improvement across developing economies such as India, Vietnam, and China. India is estimated to witness a substantial increase in construction expenditure and may potentially surpass China, which has the largest regional economy, over the forthcoming years. Additionally, India and China are anticipated to account for over 40% of the global construction output by 2030.
Government initiatives such as "Housing for All" and "Smart Cities Mission" which aim to increase housing and infrastructure development in India, will significantly contribute to the growth. The government's focus on the development of affordable housing and the improvement of transportation infrastructure is also expected to drive construction spending in the country. With the resultant surge in construction projects, the demand for building elements such as flooring will surge significantly, creating strong opportunities for regional flooring market progression by 2032.