Enjoy complimentary customisation on priority with our Enterprise License!
The Floor Pad Market size is forecast to increase by USD 109.05 million, at a CAGR of 6.57% between 2023 and 2028. Several factors play a crucial role in the market's growth, such as the increasing awareness among consumers for cleaner environments, the growing construction in the non-residential sector, and the increasing demand for floor pads from the healthcare sector. The market analysis and report provide market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing awareness among consumers for cleaner environments is the key factor driving market growth. The demand for highly advanced floor cleaners is increasing worldwide. Many growth factors drive the market, one of which is the growing janitorial industry worldwide. The rising number of non-residential constructions and the increasing travel and tourism industry drive the demand for industrial floor cleaners and, in turn, the growth of the market. The growth is attributed to consumers' increasing need and awareness for cleaner environments.
Further, the adoption of greener and more sustainable cleaning practices is a key factor in the growth of the overall market. The use of new technologies and innovations are the key drivers of the industrial cleaning market. Industrial cleaning solutions have a high adoption rate in industries like manufacturing, healthcare, retail, food and beverage processing, hospitality, and automotive. Hence, increased awareness among consumers for cleaner environments will drive market growth during the forecast period.
Technological advancements in floor pads is the primary trend shaping market growth. Industrial floor cleaning processes are often carried out using traditional methods. Advances in technology have created a need to incorporate technology in these processes to advance and standardize the industry. The adoption of technology in cleaning practices will provide more effective results without chemicals. Disinfectants based on hydrogen peroxide with shorter contact times are an example of the types of innovations available in the market.
Besides, another device used for industrial floor cleaning is an ultraviolet (UV) inspection black light. The housekeeping staff uses this to detect any biological matter, food particles, and other substances that the human eye cannot detect. With the use of UV inspection black light, the cleaning staff can ensure that the surface is clean. Thus, such technological advancements will drive the growth of the market trends and analysis during the forecast period.
The availability of low-cost human labor in developing countries is a challenge that affects market growth. In countries such as India and China, people prefer human workers to gadgets, such as vacuum cleaners and floor cleaners, owing to the easy availability of low-cost labor. In addition, the availability of domestic workers enables the customization of the cleaning process. Therefore, the demand for floor pads remains low in India and China. In many developing countries in APAC such as India and China, informal economic activities constitute a substantial and important source of employment for a major portion of the overall labor force.
Furthermore, one of the main ways that globalization can have a negative impact on developing nations is through the labor market. Additionally, child labor in developing countries in the region is high. Children around the world are routinely engaged in paid and unpaid forms of work. APAC and Sub-Saharan Africa continue to be the regions with the highest population of child labor. Thus, the availability of low-cost labor in developing countries may impede market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CFS Brands LLC: The company offers floor pads such as floor polishing pads under the subsidiary of Carlisle.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The PVC pads segment is estimated to witness significant growth during the forecast period. Polyvinyl chloride (PVC) floor pads are widely used in various industries and sectors due to their durability, versatility, and cost-effectiveness. In the commercial sector, PVC pads find extensive applications in cleaning and maintenance of floors. PVC pads are well-known for their abrasive properties, making them highly efficient for cleaning and restoring floor surfaces while providing protection against wear and tear.
Get a glance at the market contribution of various segments Download the PDF Sample
The PVC pads segment was the largest segment and was valued at USD 68.47 million in 2018. Further, PVC pads are also highly customizable in size and abrasive levels, catering to different cleaning needs and floor types. With various thickness options and easy attachment to floor cleaning machines, they ensure compatibility and efficiency during the cleaning process. The increasing demand for cost-effective cleaning solutions, growing emphasis on hygiene in various industries, the versatility and durability of PVC pads, and the expansion of commercial and healthcare sectors worldwide are expected to drive the growth of the PVC pads segment in the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American region is home to various industries, including healthcare, hospitality, retail, and industrial sectors, all of which require efficient floor-cleaning solutions. These industries prioritize cleanliness and hygiene, leading to a rising demand for high-quality floor pads. Factors such as a growing geriatric population and evolving lifestyles, which contribute to an increase in chronic health problems like diabetes, along with urbanization and higher disposable incomes, leading to sedentary lifestyles and higher obesity rates, are driving the demand for healthcare facilities in the region. Furthermore, the introduction of advanced floor care equipment, like industrial floor scrubbers with cylindrical technologies, further drives the demand for floor pads in the region. These technological advancements and the emphasis on hygiene will propel the growth of the North American market during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market encompasses various segments and offers opportunities for sales and growth. Investors, directors, and presidents closely monitor growth trends and conduct SWOT analysis to identify strengths and weaknesses. Consumption analysis and assessments of raw material availability drive decisions along the industry chain. Shipments are managed through efficient distribution channels based on research findings.
Consequently, holistic research considers classifications and rate of growth to understand users/applications and demographic conditions. Business cycles and market-specific microeconomic impacts influence market paradigms and regional competitive advantage. Thorough downstream demand analysis and optimization of upstream raw materials contribute to sustained market growth. The appendix provides additional insights into the global floor pad market, guiding stakeholders in navigating its complexities and seizing opportunities for success.
Floor Pad Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.57% |
Market Growth 2024-2028 |
USD 109.05 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.41 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Americo Manufacturing Co., Aone Industries, Bona AB, CFS Brands LLC, Corazzi Fibre Srl, Diversey Holdings Ltd., Edward Don and Co., Electrolux AB, ETC of Henderson Inc., Janex Inc., Jon Don LLC, Lake Country Manufacturing Inc., Medline Industries LP, Murugappa Group, NUTECH JETTING EQUIPMENTS India PVT LTD., Roots Multiclean LTD., Surie Polex Industries Pvt. Ltd., Wearwell LLC, and Compagnie de Saint Gobain |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.