Resin Flooring Market Report
The Resin Flooring Market is segmented By Material Type (Epoxy, PU Resin, MMA, and Others), By Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), By End-User Type (Industrial and Residential & Commercial), and By Region (North America, Europe, Asia Pacific, and Rest of the World).
The Resin Flooring Market is segmented By Material Type (Epoxy, PU Resin, MMA, and Others), By Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), By End-User...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Resin flooring is a decorative, sustainable, customizable, and highly durable form of flooring. It is used to customize the commercial and residential floors and shield them from damage. It provides optimal performance and is also resistant to wear and tear and is widely known as a long-lasting flooring option. It has become a popular flooring option owing to its simplicity of deployment and lower cost as compared to that of concrete flooring. The selection of materials for resin flooring is influenced by a variety of factors, including substrate type, quick curing time, barrier properties, self-leveling, durability, traffic endurance, etc. Some of the major types of materials used by the flooring suppliers are epoxy, PU resin, and methyl methacrylate, among which the epoxy material is gaining traction in the market, driven by its numerous advantages over others
The global resin flooring market contracted by -13.9% in the year 2020 due to the pandemic. All four regions witnessed a huge decline in the demand for resin flooring in the same year. However, the rate of decline varied from region to region. For instance, Asia-Pacific registered a relatively low decline than that of North America and Europe, credit goes to the excellent recovery from the 3rd Quarter 2020 in China. In the long run, the market is likely to grow at a healthy CAGR of 5.6% to reach a projected value of US$ 4.6 billion in 2026. It has been reported that the construction industry is witnessing an upsurge in 2021 with the renovation activities increased to 60% across the globe. In addition, continuous expansion in the manufacturing industry will further complement the demand for flooring materials.
Based on the material type, the market is segmented as epoxy, PU resin, methyl methacrylate, and others. In 2020, epoxy held the market dominance and is also expected to continue its dominance throughout the forecast period. Epoxy is a favorable material in resin flooring, designed to safeguard the floor from different circumstances and to optimize the overall flooring performance.
Similarly, based on the application type, the market is classified as food & beverage, healthcare, automotive manufacturing, industrial manufacturing, and others. Industrial manufacturing is likely to maintain its dominance during the studied period, whereas food & beverage is anticipated to register the highest growth over the same period.
In terms of region, Europe is the most dominant market for resin flooring. The countries, such as the UK, Germany, and France, are the major growth engines of the regional market due to the presence of major market players, distributors, and contractors. Several flooring material suppliers have their presence in the region to address the emergent needs of the market.
Asia-Pacific, another major market for resin flooring, is subjected to grow at the highest pace over the next five years. China alone holds more than half of the region’s market and will continue marking greater dominance in the regional as well as the global market. Over the years, there has been a constant increase in the penetration of resin flooring in the major Asian economies, particularly in China, a key factor driving the demand in the region.
Year on year, the market for resin flooring is increasingly consolidating as several key companies engage in various strategic acquisitions and mergers to establish a competitive position and capitalize on the opportunities in the burgeoning market. For instance, Carboline, a division of RPM, acquired Dudik Inc., a leading company in high-performance coatings, flooring, and tank linings in 2021. Similarly, COVESTRO AG acquired Royal DSM's Resins & Functional Materials business, which will expand the company's worldwide network and add revenues worth EUR 1 billion.
The supply chain of the resin flooring market comprises several channels including raw material manufacturers, distributors, flooring manufacturers, and local companies, among others. The following are some of the key players in the resin flooring market:
The Lubrizol Corporation
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s resin flooring market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our floor adhesive market report from the industry stakeholders, we have tried to further accentuate our research scope to the resin flooring market in order to provide the most crystal-clear picture of the market. 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.
This report provides market intelligence most comprehensively. 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:
The resin flooring market is segmented into the following categories:
Resin Flooring Market, by Material Type
Resin Flooring Market, by Application Type
Resin Flooring Market, by End-User Type
Resin Flooring Market, by Region/Country
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview Research offers custom research services across the 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 [email protected]
Asia-Pacific is estimated to be dominant in the resin flooring market during the forecast period.?
The resin flooring market is estimated to grow at a CAGR of 4.8%, during 2021-2026.
AFI Licensing LLC, Ardex Group, COVESTRO, General Polymers Thermoplastic Materials, LLC, Gerflor Group, Jotun, MBCC Group, RPM International Inc., Sika AG, and The Lubrizol Corporation are some of the key players in the resin flooring market.