World Floor Pad Market to Grow at 3.59% CAGR to 2021
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ReportsnReports.com adds Global Floor Pad Market 2017-2021 latest research report; the analysts forecast the global floor pad market to grow at a CAGR of 3.59% during the period 2017-2021. --
The global floor pad market analyst says latest trend gaining momentum in the market is evolution of melamine pads. These have been designed to address the issue of shallow grout lines, which has been a challenge for years. These pads are flexible in nature and thus clean up irregular stone surfaces as well. Melamine pads can also be used to prepare the floor surfaces for re-coating.
Complete report on floor pad market spread across 63 pages, analyzing 3 major companies and providing 30 data exhibits are now available at http://www.reportsnreports.com/reports/857449-global-floor-pad-market-2017-2021.html
According to the floor pad market report, one of the major drivers for this market is growth in global industrial production. Industrial production (includes manufacturing, mining, and construction) is the prime growth driver for the global floor pad market. The global economy has recovered considerably since the economic downturn of 2008, driven particularly by the robust growth in the manufacturing sector in most regions. The demand for manufactured goods is constantly rising due to rapid infrastructural development, favorable federal policies, and rising disposable incomes.
The following companies as the key players in the global floor pad market: 3M, Americo Manufacturing, and Newell Brands. Other prominent vendors in the market are: Electrolux, ETC of Henderson, Janex Floor Products, Jon-Don, Parish Maintenance Supply, and Saint-Gobain. Order a copy of Global Floor Pad Market 2017-2021 report @ http://www.reportsnreports.com/purchase.aspx?name=857449
North America is expected to be the leading segment in the global floor pad market, generating highest revenue and maximum incremental growth through the forecast period. The dominance of this market segment will be driven by the high usage of industrial floor cleaners in metal fabrication, transportation, and machinery industries in the region.
Global floor pad market for manufacturing: The global manufacturing market is expected to witness a slow growth rate in advanced economies, mainly in North America and Europe owing to Brexit concerns and political uncertainty. Global floor pad market for warehouse and logistics: The warehouse and logistics segment occupied the second highest share in the global floor scrubbing pads market. The segment is expected to continue its position by growing at an accelerated rate during the forecast period.
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Global floor pad market for hospitality: The overall growth of the global hospitality industry is due to the increase in tourism, technology and continuous economic growth of emerging economies. The growth of the hospitality sector has a direct impact on the industrial floor scrubbers market. In APAC, the manufacturing sector is expected to grow at a faster pace than other developed regions. The region is expected to witness a rise in the domestic demand due to the upsurge in disposable income, higher employment, lower commodity prices, and macroeconomic stimulus.
Further, the floor pad market report states that one of the major factors hindering the growth of this market is slowdown in non-residential sector. Non-residential construction expenditure could slow down in 2016-2017 in the wake of a turbulent global economy and political instability in many countries. However, at the same time, the decelerating overall economy could somewhat extend to the construction industry, with the biggest drop-off expected in the industrial facility sector over the next year and a half.
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Release ID: 176922
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