• Blog
  • Performance Flooring Market Analysis

    Performance Flooring Market Analysis

    Performance Flooring Market Analysis
    Report code - SR1130 Published On : Oct,2022 No. of Pages: 130
    Get Free Sample |
    Performance Flooring Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Highlights

    The Performance Flooring Market is likely to grow at a promising CAGR of 4.6% over the next five years to reach US$ 7.8 Billion in 2028.

    What is the Performance Flooring Market?

    Performance flooring is used to coat the floor for protecting it from the forces of external damage and enhance the flooring performance by providing chemical resistance, electrostatic discharge resistance, quick curing, and abrasion resistance Due to its antimicrobial property, ease of application, and economic cost, it has been becoming the choice of flooring. The selection of the flooring materials is dependent on several parameters, including substrate type, quick curing time, resistance, self-leveling, durability, traffic endurance, etc. Epoxy, PU resin, and MMA (methyl methacrylate) are the three major materials used by flooring suppliers, among which epoxy held the dominant position, owing to its numerous advantages over others.

    Performance Flooring Market Features

    Market Size in 2028

    USD 7.8 billion

    Market Size in 2021

    USD XX billion

    Market Growth (2023-2028)

    CAGR of 4.6%

    Base Year of Study

    2021

    Trend Period

    2017-2020

    Forecast Period

    2023-2028

    Top Companies in 2021

    • Sika AG
    • Covestro Group
    • The Sherwin-Williams Company
    • BASF SE
    • PPG Industries, Inc.
    • Jotun
    • RPM International Inc.
    • Ardex group

    Dominant Region

    Europe accounted for the largest market during the forecast period.

    Market Dynamics

    The market for performance flooring is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position and tap growing opportunities in this briskly expanding market. For instance. In 2021, RPM’s division Carboline acquired Dudik Inc., a standalone world leader in performance coatings, flooring, and tank linings. Similarly, recently, The Sherwin-Williams Company acquired Tennant Coatings, and Covestro AG acquired Resins & Functional Materials business from Royal DSM, which will enhance their global network.

    Wish to get a free sample? Register Here.

    Segment Analysis

    Material Type

    The market is classified as epoxy, PU resin, PU cement, MMA, and others. Due to its extensive use, epoxy currently held the largest share of the market and is estimated to maintain its dominance in the foreseen future. MMA currently holds a minuscule share and is an expensive option for several industries. However, the material type is anticipated to witness the fastest growth in the years to come.

    Application Type

    The market is classified as food & beverage, healthcare, automobile manufacturing, industrial manufacturing, and othersAmong these applications, industrial manufacturing was the biggest demand generator for performance flooring in 2022, due to its large utility paired with a higher preference for performance flooring over other flooring options.

    End-User Type

    The market is divided into industrial and residential & commercial segments. The industrial segment is expected to lead the market during the forecast period, owing to increasing industrial activities after the COVID-19 impact.

    Regional Analysis

    Europe was the dominant market for performance flooring in 2022, with countries such as Germany, France, and the UK, being the growth engines of the regional market. In Europe, several rules and regulations have acted as a buoyant force to keep the performance of flooring manufacturing afloat. In addition to that, in order to ensure healthy growth, various firms have teamed up for upcoming construction or flooring programs. Asia-Pacific is likely to witness the fastest growth during the forecast period, due to the growing demand in the economies like China, Japan, and India. There are several domestic companies for performance flooring scattered in the region. 

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The performance flooring market is segmented into the following categories. 

    By Material Type

    • Epoxy
    • MMA
    • PU Cement
    • PU Resin
    • Others

    By Application Type

    • Food & Beverage
    • Healthcare
    • Industrial Manufacturing
    • Automotive Manufacturing
    • Others

    By End-User Type

    • Industrial
    • Residential & Commercial

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Austria, Italy, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

    Know which region offers the best growth opportunities, Register Here.

    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the performance flooring market:

    • Sika AG
    • Covestro Group
    • The Sherwin-Williams Company
    • BASF SE
    • PPG Industries, Inc.
    • Jotun
    • RPM International Inc.
    • Ardex group

    COVID-19 Impact

    This market, which has a strong alignment with the growth of the construction sector, has suffered setbacks in the wake of the COVID-19 pandemic. As a result, the performance flooring market declined by -4.3% in 2020. The market experienced a rebound at a growth rate of 32.6% in 2021, supported by the industry's growth and a sudden rise in the price of materials. Overall, the performance flooring market is likely to experience a promising CAGR of 4.6%, in the long run, to reach a value of US$ 7.8 billion in 2028.

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the performance flooring market hopes to have the greatest opportunity to convert-

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s performance flooring market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The performance flooring market is estimated to grow at a CAGR of 4.6% by 2028. An increase in flooring activities, the growing significance of safety and environmental regulations, and customized technical requirements are some of the market's major driving factors.

    Sika AG, Covestro Group, The Sherwin-Williams Company, BASF SE, PPG Industries, Inc., Jotun, RPM International Inc., and Ardex Group are the leading players in the performance flooring market.

    Europe held the largest market share among regions in 2022. Several major flooring manufacturers, distributors, and contractors are present in Europe, making the region ideal for the performance flooring market.

    Due to the expanding demand in economies like China, Japan, and India, the Asia-Pacific region is expected to experience the fastest growth throughout the projection period.

    Epoxy is likely to maintain its dominance in the market in the next five years. Epoxy is preferred for all major applications because of its durability, ease of maintenance, chemical and impact resistance, and ability to prevent wear and tear.