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    Resin Flooring Market Report

    Resin Flooring Market Report
    Report code - SR1131 Published On : Oct,2022 No. of Pages: 140
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    Resin Flooring Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppor See more...

    Market Highlights

    Resin flooring is a decorative, sustainable, customizable, and highly durable form of flooring. It is used to customize 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 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 materials used by flooring suppliers are epoxy, PU resin, and methyl methacrylate, among which epoxy is gaining traction in the market, driven by its numerous advantages over others.

    Due to the pandemic, the resin flooring market contracted by -5.0% in 2020. In the same year, the demand for resin flooring drastically decreased in all four regions. However, in 2021, the market experienced an extraordinary growth of 33.4% as the year saw an increase in the building sector as renovation activities grew by 60% worldwide. The need for flooring materials will also be further complemented by the manufacturing sector's ongoing expansion. In the long run, the market is likely to grow at a healthy CAGR of 4.5% to reach a projected value of US$ 6.8 billion in 2028.

    The resin flooring market is becoming more and more consolidated every year as a number of essential companies make strategic acquisitions and mergers to get an advantage over rivals and take advantage of growth prospects. For instance, in 2021 RPM’s subsidiary Carboline purchased Dudik Inc., a market leader in high-performance coatings, flooring, and tank linings. Similar to this, COVESTRO AG purchased Royal DSM's Resins & Functional Materials business, which will enhance their global network and add profits estimated to be US$ 1.2 billion.

    Market Segments' Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Material Type

    Epoxy, PU Resin, MMA, and Others

    Epoxy is likely to remain the dominant material type, whereas MMA remains the fastest-growing type during the forecast period.

    Application Type

    Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others

    Industrial manufacturing is expected to be the dominant application type, whereas food & beverage remain the fastest-growing application type during the forecast period.

    End-User Type

    Industrial and Residential & Commercial

    Industrial is projected to remain the dominant as well as the fastest-growing end-user type during the forecast period.

    Region

    North America, Europe, Asia Pacific, and Rest of the World

    Europe is likely to remain the dominant region, whereas Asia-Pacific remains the fastest-growing region during the forecast period.

     

    Based on the material type, the resin flooring market is segmented into epoxy, PU resin, MMA (methyl methacrylate), and others. In 2022, epoxy held 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 optimize the overall flooring performance.

    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 Germany, France, and The UK, 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 region 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. 

    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 resin flooring market:

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

    Research Methodology

    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. 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.

    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.

    The resin flooring market is segmented into the following categories. 

    Resin Flooring market, by Material Type

    • Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • PU Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • MMA (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Resin Flooring market, by Application Type

    • Food & Beverage (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)
    • Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)
    • Industrial Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)
    • Automotive Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)

    Resin Flooring market, by End-User Type

    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)
    • Residential & Commercial (Regional Analysis: North America, Europe, Asia-Pacific, Rest of the World)

    Resin Flooring market, 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: China, India, Japan, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

    Report 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 resin flooring market is estimated to grow at a CAGR of 4.5% by 2028. The increase in construction activities, the growing significance of safety and environmental regulations, and the benefits of resin flooring 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 resin flooring market.

    Europe is estimated to remain the dominant region in the resin flooring market in the foreseeable future. The key countries driving the regions demand for resin flooring are Germany, France, and The UK.

    Asia-Pacific is estimated to remain the fastest-growing market for resin flooring in the foreseen future, owing to rising construction activities in the region. China and Japan are major countries in the region.

    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.