Report : Anti-Static Floor Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Resilient Anti-Static Flooring and Non-Resilient Anti-Static Flooring); Application (Cleanrooms, Hyperbaric Spaces in Healthcare Settings, Electronics Manufacturing, and Others), and Geography
Growth of Industrialization and Urbanization to Drive Anti-static Floor Market Growth
According to our latest market study on “Global Anti-Static Floor Market to 2027 – COVID-19 Impact and Global Analysis–by Type (Resilient Anti-Static Flooring, Non-Resilient Anti-Static Flooring) and Application (Cleanrooms, Hyperbaric Spaces in Healthcare Settings, Electronics Manufacturing, Others); and Geography,” the market was valued at US$ 3,067.0 million in 2019 and is projected to reach US$ 5,113.7 million by 2027; it is expected to grow at a CAGR of 6.7% from 2020 to 2027.The report highlights key factors driving the market growth, and prominent players and their developments in the market.
Urbanization evolves with economic growth and industrialization. The substantial increase in energy demands and continuously growing energy consumption are driving the need for establishment of new production units of these energy sources. Industrialization plays a pivotal role in the growth of developing economies. The trade specialization of each country leads them toward real economic growth and stability. Advances in robotics, artificial intelligence (AI), and additive manufacturing have led to increasing establishment of industries in countries around the world.
The electronics and consumer goods industries are experiencing accelerated expansion and growth, mainly in Asian economies. According to the India Brand Equity Foundation (IBEF), the electronics industry has attracted strong investments from mergers and acquisitions as well as other foreign direct investment (FDI) inflows. This has led to the rapid establishment of new production units in India by local as well as foreign manufacturing companies. Further, government investments to promote urbanization also push the anti-static market growth. For instance, in 2018, the Union Cabinet allocated up to US$ 1.7 billion in benefits to the electronics sector in India.
Establishments in the manufacturing sector involve the mechanical, chemical, and physical transformation of materials, components, and substances. Thus, the manufacturing environment is usually regulated and controlled in terms of its construction, including flooring. Thus, increasing urbanization and industrialization worldwide boosts the demand for anti-static flooring, and the factor is likely to drive the market growth during the forecast period as well.
The global anti-static floor marketis concentrated with a few well-established players, including ARMSTRONG WORLD INDUSTRIES, INC. (AWI); Gerflor, LG HAUSYS; Altro Ltd; Ecotile Flooring Ltd.; Tarkett; Mohawk Group; Flowcrete Group Ltd.;and Forbo International SA.
Impact of COVID–19 on Anti-Static Floor Market
The COVID-19 pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global construction industry, once booming due to the huge residential and commercial construction projects in China and the US, has been affected by the suspension of the construction activities across the affected countries. The construction industry in the US is expected to take a major hit due to labor shortage and government-imposed lockdown during COVID-19. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to hinder the anti-static floor industry in the coming months