Southeast Asia Industrial Flooring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Southeast Asian Industrial Flooring Market is Segmented by Resin Type (Epoxy, Polyaspartic, Polyurethane, Acrylic, and Other Resin Types), Application (Concrete, Wood, and Other Applications), End-user Industry (Food and Beverage, Chemical, Transportation and Aviation, Healthcare, and Other End-user Industries), and Geography (Indonesia, Thailand, Vietnam, Malaysia, and Rest of Southeast Asia). The report offers market sizes and forecasts in terms of value in USD million for all the above-mentioned segments.

Southeast Asia Industrial Flooring Market Size

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Southeast Asia Industrial Flooring Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 5.50 %
Market Concentration Low

Major Players

Southeast Asia Industrial Flooring Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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Southeast Asia Industrial Flooring Market Analysis

The Southeast Asian industrial flooring market is expected to register a CAGR of over 5.5% during the forecast period.

The COVID-19 pandemic significantly affected the manufacturing and services sector. Loss of revenue and operational shutdowns were observed across various industrial sectors. Renovation and expansion projects were put on hold until the crisis was averted, and therefore, the industrial flooring market suffered greatly during the pandemic.

  • However, now that the restrictions are lifted and the industrial sector is steadily recovering from the aftermath of COVID-19, increased demand for industrial flooring from the expanding food and beverage industry is expected to drive demand across the region. Rising awareness about the potential advantages of industrial flooring over normal concrete flooring is expected to strengthen this demand further.
  • On the other side, stringent regulations concerning the volatile organic compounds (VOCs) emitted from industrial flooring could hinder the market's growth.
  • Widening usage of polyaspartic floor coatings, given their superior properties and the growing research and development of eco-friendly bio-based flooring, could lead to future opportunities in the market.
  • Across the Southeast Asian region, Indonesia could potentially lead the demand for the industrial flooring market.

Southeast Asia Industrial Flooring Market Trends

This section covers the major market trends shaping the Southeast Asia Industrial Flooring Market according to our research experts:

Growth in the Food and Beverages Industry

  • The food and beverage industry has been registering strong and steady growth across the Southeast Asian region. The rise in population and growing demand for packaged healthy foods are expected to drive food and beverage manufacturers into developing long-term strategies for the region.
  • Many key players have already announced plans to expand across the region. For instance, Mr Bean, a market leader in the production of soya-based products, announced its plan to set up a state-of-the-art production facility in Singapore.
  • Similarly, in 2021, Cargill invested USD 35 million in its specialty fats production facility in Malaysia in a bid to expand the company's global portfolio.
  • In 2022, Malaysian dairy Farm Fresh Berhad announced that it would be using USD 54.58 million of IPO funds for production expansion projects across the region, as it intends to grow its capacity by 52% by the end of FY24.
  • With strong investments and projects in the pipeline, the manufacturing and services sector shows great promise for a strong recovery post-covid. For instance, as of June 2022, the Malaysian Investment Development Authority (MIDA) has a total of 268 projects in the pipeline for the manufacturing and services sector, including the food and beverage sector. The proposed total investment into these projects adds up to MYR 14.4 billion (USD 3.45 billion).
  • The growth of the food and beverage sector across the region is anticipated to strengthen the demand for industrial flooring across the region.
Industrial Flooring Market, Revenue CAGR (), by End-user Industry, Southeast Asia, 2022-2027

Indonesia to Lead the Southeast Asian Market

  • Indonesia is becoming a favorable country for investment for international businesses since it offers lower wage costs, a huge domestic market along with access to ASEAN markets, and an increasingly attractive investment climate.
  • The Indonesian government has been encouraging agencies and key figures in the industry to prepare for an increase in demand within the food and beverage industry by developing newer technologies, given the potential recovery and following growth of the sector in the region.
  • In 2021, Kerry Group announced its plans to invest EUR 30 million (USD 36.2 million) to build a production facility in Karawang, Indonesia. Upon completion, the new facility will be Kerry's second manufacturing facility in the country, representing the company's largest investment in the Southeast Asian region.
  • In 2022, the Indonesian government also established the state-owned company PT Sinergi Gula Nusantara (SGN) and intended to establish SGN as the nation's largest sugar company by 2028. SGN currently controls 36 sugar mills across the country, and the government intends to implement further land expansion in the coming years.
  • Similarly, the automobile industry is also expected to witness strong growth in the coming years. With the impending shift to electric vehicles (EVs), the Indonesian government targets to make up close to 20% of the total domestic cars manufactured, approximately 400,000 EVs by 2025. These ambitious targets support the expansion of the automobile industry and the battery and other electric components manufacturing industry.
  • The Foreign Direct Investment (FDI) in Indonesia witnessed a 63.6% Y-o-Y growth in rupiah terms in the third quarter of 2022, indicating great promise for the growth of the economy in the long run.
  • The aforementioned factors are expected to drive the demand for industrial flooring in the region.
Southeast Asia Industrial Flooring Market : Value of Food and Beverage Industry, USD Billion, Indonesia, 2017-2021

Southeast Asia Industrial Flooring Industry Overview

The Southeast Asian industrial flooring market is highly fragmented in nature. Some major players in the market include Sika AG, Nippon Paint Holdings Co. Ltd, RPM International Inc., Akzo Nobel NV, and MBCC Group.

Southeast Asia Industrial Flooring Market Leaders

  1. Sika AG

  2. RPM International Inc.

  3. Nippon Paint Holdings Co. Ltd.

  4. MBCC Group

  5. Akzo Nobel N.V.

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Industrial Flooring Market  Concentration
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Southeast Asia Industrial Flooring Market News

  • December 2022: Hafary Holdings Limited, a leading supplier of premium tiles, wood flooring, stone, and other products in Singapore, incorporated a new Joint Venture (JV) Company, International Ceramics Manufacturing Hub Sdn Bhd (ICMHSB). The JV will help the group to expand its operations across the region by acquiring manufacturing capabilities.
  • February 2022: Sherwin-Williams launched its new range of products for applications where an underlay or floor leveling screed is required. Sher-Crete® SLX and Sher-Crete® BU products can be used in applications involving warehouses, manufacturing facilities, and storage areas for various industries, including the aviation and the automotive sector.

Southeast Asia Industrial Flooring Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Awareness about the Advantages of Industrial Flooring

      2. 4.1.2 Increasing Demand from the Food and Beverage Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Regulations on VOCs Released from Industrial Floorings

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Resin Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Polyaspartic

      3. 5.1.3 Polyurethane

      4. 5.1.4 Acrylic

      5. 5.1.5 Other Resin Types

    2. 5.2 By Application

      1. 5.2.1 Concrete

      2. 5.2.2 Wood

      3. 5.2.3 Other Applications

    3. 5.3 By End-user Industry

      1. 5.3.1 Food and Beverage

      2. 5.3.2 Chemical

      3. 5.3.3 Transporation and Aviation

      4. 5.3.4 Healthcare

      5. 5.3.5 Other End-user Industries

    4. 5.4 By Geography

      1. 5.4.1 Indonesia

      2. 5.4.2 Thailand

      3. 5.4.3 Vietnam

      4. 5.4.4 Malaysia

      5. 5.4.5 Rest of Southeast Asia

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Akzo Nobel NV

      3. 6.4.3 Applied Flooring

      4. 6.4.4 CoGri Group Ltd

      5. 6.4.5 Lubrizol Corporation

      6. 6.4.6 MBCC Group

      7. 6.4.7 Nippon Paint Holdings Co. Ltd

      8. 6.4.8 RPM International Inc.

      9. 6.4.9 Sherwin-Williams Company

      10. 6.4.10 Sika AG

      11. 6.4.11 Tremco Incorporated

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Research and Development of Eco-Friendly Bio-Based Flooring Solutions

**Subject to Availability
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Southeast Asia Industrial Flooring Industry Segmentation

Industrial flooring is a permanent cover over the concrete floor to enhance properties, such as load-bearing capacities and chemical and abrasion resistance, based on the requirement of a specific end-user industry. 

The Southeast Asian industrial flooring market is segmented by resin type, application, end-user industry, and geography. By resin type, the market is segmented into epoxy, polyaspartic, polyurethane, acrylic, and other resin types. By application, the market is segmented into concrete, wood, and other applications. By end-user industry, the market is segmented into food and beverage, chemical, transportation and aviation, healthcare, and other end-user industries. The report covers market sizes and forecasts for four major countries across the region. For each segment, market sizing and forecasts have been done on the basis of revenue in USD million.

By Resin Type
Epoxy
Polyaspartic
Polyurethane
Acrylic
Other Resin Types
By Application
Concrete
Wood
Other Applications
By End-user Industry
Food and Beverage
Chemical
Transporation and Aviation
Healthcare
Other End-user Industries
By Geography
Indonesia
Thailand
Vietnam
Malaysia
Rest of Southeast Asia
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Southeast Asia Industrial Flooring Market Research FAQs

The Southeast Asia Industrial Flooring Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)

Sika AG, RPM International Inc., Nippon Paint Holdings Co. Ltd., MBCC Group and Akzo Nobel N.V. are the major companies operating in the Southeast Asia Industrial Flooring Market.

The report covers the Southeast Asia Industrial Flooring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Southeast Asia Industrial Flooring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Southeast Asia Industrial Flooring Industry Report

Statistics for the 2024 Southeast Asia Industrial Flooring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Southeast Asia Industrial Flooring analysis includes a market forecast outlook to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Southeast Asia Industrial Flooring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)