Global Resinous Flooring Market Overview
Resinous Flooring Market Size was estimated at 5.0 (USD Billion) in 2022. The Resinous Flooring Market Industry is expected to grow from 5.28 (USD Billion) in 2023 to 8.53 (USD Billion) by 2032. The Resinous Flooring Market CAGR (growth rate) is expected to be around 5.49% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Resinous Flooring Market Trends Highlighted
The increase in demand for robust and visually appealing flooring solutions for commercial and industrial purposes is the major factor that is expected to drive the growth of the resinous flooring market in the future. The growing use of epoxy resin, polyurethane resin, and MMA will aid in market growth. Opportunities for environmentally sustainable resinous flooring systems are generated by the focus on the green building concept. The increasing focus on hygienic and anti-skid surfaces in hospitals, food processing, and manufacturing plants is increasing the demand for resinous flooring. Major market stimulators are the rising construction market, growing safeness demands, and construction of long-lasting, suitable and easy-to-maintain flooring.
Resinous Flooring Market Drivers
Rising Demand for Durable and Aesthetic Flooring Solutions
The construction industry is experiencing a growing demand for durable and aesthetically pleasing flooring solutions, driving the growth of the Resinous Flooring Market Industry. Resinous flooring systems offer several advantages over traditional flooring materials, such as high durability, resistance to chemicals and abrasion, and a seamless finish. These properties make them ideal for industrial, commercial, and institutional applications, including warehouses, manufacturing facilities, hospitals, and schools.As the construction industry continues to expand globally, the demand for resinous flooring is expected to rise, contributing to market growth.
Advancements in Technology and Product Innovation
Technological advancements and ongoing product innovation are key drivers of growth in the Resinous Flooring Market Industry. Manufacturers are investing in research and development to enhance the performance and functionality of resinous flooring systems. For example, new formulations are being developed to improve chemical resistance, UV stability, and slip resistance. Additionally, advancements in application techniques, such as self-leveling and fast-curing systems, are increasing the efficiency and cost-effectiveness of resinous flooring installations.
Increasing Environmental Concerns and Regulations
Growing environmental concerns and regulations are also driving the growth of the Resinous Flooring Market Industry. Resinous flooring systems are often preferred over traditional flooring materials due to their low VOC (Volatile Organic Compound) emissions and ease of maintenance. As governments worldwide implement stricter environmental regulations, the demand for sustainable and eco-friendly flooring solutions is expected to increase. Resinous flooring systems meet these requirements, making them an attractive option for environmentally conscious consumers and businesses.
Resinous Flooring Market Segment Insights
Resinous Flooring Market Resinous Flooring Type Insights
The Resinous Flooring Market is segmented by Resinous Flooring Type into Epoxy Resinous Flooring, Polyurethane Resinous Flooring, Acrylic Resinous Flooring, Polymethyl Methacrylate (PMMA) Resinous Flooring, and Other Resinous Flooring Types. Epoxy Resinous Flooring is projected to dominate the market in 2023, accounting for over 38% of the revenue, driven by its remarkable resistance to chemicals, stains, and impact, making it suitable for industrial and commercial applications. Polyurethane Resinous Flooring is anticipated to follow, capturing around 29% of the market share in 2023, owing to its high durability, flexibility, and aesthetic appeal, making it ideal for both interior and exterior applications.Acrylic Resinous Flooring is estimated to hold a significant market share in 2023, contributing approximately 22% of the revenue. This type of flooring offers excellent UV resistance and water repellency, making it well-suited for outdoor applications and areas exposed to sunlight. Polymethyl Methacrylate (PMMA) Resinous Flooring is projected to account for a smaller market share in 2023, approximately 9%, due to its high cost compared to other types. However, it is gaining popularity in specialized applications requiring exceptional durability and aesthetics.Other Resinous Flooring Types, including polyester and vinyl ester resinous flooring, are expected to collectively hold a market share of around 2% in 2023. The Resinous Flooring Market is witnessing steady growth, driven by increasing demand from industries such as manufacturing, pharmaceuticals, food and beverage, and healthcare, among others. This growth is attributed to the increasing demand for durable, hygienic, and aesthetically pleasing flooring solutions in various end-use industries.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Resinous Flooring Market Application Insights
The Resinous Flooring Market is segmented into various applications, including industrial flooring, commercial flooring, residential flooring, and other applications. Industrial flooring is the largest application segment, accounting for over 50% of the overall market revenue in 2023. The growth of the industrial flooring segment is driven by the increasing demand for high-performance flooring solutions in manufacturing, warehousing, and logistics facilities. Commercial flooring is another significant application segment, with a market share of around 30% in 2023.The demand for commercial flooring is expected to grow steadily in the coming years, driven by the increasing construction of commercial buildings, such as offices, retail stores, and healthcare facilities. Residential flooring is a smaller application segment, with a market share of around 15% in 2023. The growth of the residential flooring segment is expected to be driven by the increasing demand for durable and aesthetically pleasing flooring solutions in homes. Other applications of resinous flooring include sports flooring, marine flooring, and transportation flooring.These applications are expected to experience moderate growth in the coming years, driven by the increasing demand for specialized flooring solutions in these industries.
Resinous Flooring Market Properties Insights
The Properties segment plays a crucial role in driving the Resinous Flooring Market's growth, with each property offering unique advantages and catering to specific industry requirements. Chemical Resistance Resinous flooring systems with high chemical resistance are in demand in industries such as chemical processing, food and beverage, and pharmaceuticals, where exposure to corrosive substances is common. These systems protect against spills and damage, ensuring a safe and durable work environment. Abrasion Resistance Abrasion-resistant flooring is vital in high-traffic areas like warehouses, manufacturing facilities, and retail stores.Its ability to withstand wear and tear extends the lifespan of the flooring, reducing maintenance costs and downtime. Impact Resistance Resinous flooring with impact resistance is ideal for applications involving heavy machinery or potential impact forces. Its shock-absorbing properties protect the subfloor and minimize damage from falling objects or equipment. Anti-Skid Properties Anti-skid flooring is essential in areas where safety is paramount, such as hospitals, kitchens, and industrial workplaces. Its textured surface provides excellent traction, reducing the risk of slips and falls and creating a safer environment.Other Properties Resinous flooring systems also offer other valuable properties, including Fire Resistance, Protects against fire and smoke damage, and enhancing safety. Electrical Insulation Suitable for areas with electrical equipment or potential electrostatic discharge concerns. Decorative Finishes Available in various colors and designs, allowing for customization and aesthetic appeal.
Resinous Flooring Market Regional Insights
The Resinous Flooring Market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among these regions, North America is expected to hold the largest market share in the coming years, owing to the increasing demand for epoxy flooring in the region's rapidly growing construction industry. The Resinous Flooring Market in Asia-Pacific is projected to reach USD 2.43 billion by 2024, growing at a CAGR of 5.6% during the forecast period. North America is a major market for resinous flooring, with the United States being the largest contributor to the region's market size.The growth of the North American market is attributed to the increasing adoption of epoxy flooring in industrial and commercial applications, as well as the growing awareness of the benefits of resinous flooring, such as its durability, ease of maintenance, and chemical resistance. The Resinous Flooring Market in North America is expected to reach USD 1.42 billion by 2024, growing at a CAGR of 4.9% during the forecast period. Europe is a mature market for resinous flooring, with Germany, France, and the United Kingdom being the largest markets in the region.The growth of the European market is attributed to the increasing demand for resinous flooring in the region's automotive, food and beverage, and pharmaceutical industries. The Resinous Flooring Market in Europe is expected to reach USD 1.15 billion by 2024, growing at a CAGR of 4.5% during the forecast period. South America is a relatively small market for resinous flooring, but it is expected to grow at a significant rate in the coming years, owing to the increasing demand for epoxy flooring in the region's infrastructure and construction sectors.The Resinous Flooring Market in South America is expected to reach USD 0.48 billion by 2024, growing at a CAGR of 6.2% during the forecast period. The Middle East and Africa is a small but emerging market for resinous flooring. The growth of the market in this region is attributed to the increasing demand for epoxy flooring in the region's oil and gas, construction, and infrastructure sectors. The Resinous Flooring Market in the Middle East and Africa is expected to reach USD 0.35 billion by 2024, growing at a CAGR of 7.1% during the forecast period.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Resinous Flooring Market Key Players And Competitive Insights
Major players in the Resinous Flooring Market industry are constantly striving for Resinous Flooring Market development and innovation to gain a competitive edge. Leading Resinous Flooring Market players are focusing on strategic partnerships, mergers, and acquisitions to expand their presence and product portfolios. The Resinous Flooring Market's competitive landscape is expected to remain highly competitive in the coming years, with key players investing heavily in research and development to offer advanced and sustainable flooring solutions.BASF SE is a leading chemical company that offers a wide range of products and solutions for the construction industry, including resinous flooring systems. The company has a strong presence and a well-established reputation for quality and innovation. BASF SE is committed to developing sustainable and environmentally friendly flooring solutions that meet the needs of its customers.RPM International Inc. is a leading manufacturer of specialty coatings, sealants, and building materials. The company offers a wide range of resinous flooring systems for various applications, including industrial, commercial, and residential. RPM International Inc. has a strong focus on customer service and technical support and is known for its high-quality products and innovative solutions.
Key Companies in the Resinous Flooring Market Include
- PPG Industries, Inc.
- Sherwin-Williams Company
- Tremco Incorporated
- Sika AG
- UCRETE
- The Valspar Corporation
- Ardex Group
- Axalta Coating Systems LLC
- R. Grace Co.
- BASF SE
- Nippon Paint Holdings Co., Ltd.
- Flowcrete Group Ltd.
- Jotun A/S
- RPM International Inc
- Stonhard
Resinous Flooring Market Industry Developments
Market analysts anticipate a promising outlook for the Resinous Flooring Market, with a projected valuation of USD 6.08 billion in 2023 and a CAGR of 5.49%. Recent developments include increased adoption in industrial and commercial sectors, driven by demand for durable, chemical-resistant, and easy-to-clean flooring solutions. Key regions contributing to market growth include North America, Europe, and Asia-Pacific. Ongoing research and development focus on developing eco-friendly, anti-static, and self-leveling resinous flooring systems. Strategic partnerships, acquisitions, and new product launches are shaping the competitive landscape, with players such as BASF, RPM International, and Sherwin-Williams investing in innovation and expanding their presence.
Resinous Flooring Market Segmentation Insights
- Resinous Flooring Market Resinous Flooring Type Outlook
- Epoxy Resinous Flooring
- Polyurethane Resinous Flooring
- Acrylic Resinous Flooring
- Polymethyl Methacrylate (PMMA) Resinous Flooring
- Other Resinous Flooring Types
- Resinous Flooring Market Application Outlook
- Industrial Flooring
- Commercial Flooring
- Residential Flooring
- Other Applications
- Resinous Flooring Market Properties Outlook
- Chemical Resistance
- Abrasion Resistance
- Impact Resistance
- Anti-Skid Properties
- Other Properties
- Resinous Flooring Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
Report Attribute/Metric
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Details
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Market Size 2022
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5.0 (USD Billion)
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Market Size 2023
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5.28 (USD Billion)
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Market Size 2032
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8.53 (USD Billion)
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Compound Annual Growth Rate (CAGR)
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5.49% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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PPG Industries, Inc., Sherwin-Williams Company, Tremco Incorporated, Sika AG, UCRETE, The Valspar Corporation, Ardex Group, Axalta Coating Systems LLC, W. R. Grace Co., BASF SE, Nippon Paint Holdings Co., Ltd., Flowcrete Group Ltd., Jotun A/S, RPM International Inc, Stonhard
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Segments Covered
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Resinous Flooring Type, Application, Properties, Regional
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Key Market Opportunities
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Healthcare Industrial Food and Beverage Commercial Increasing environmental regulations.
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Key Market Dynamics
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The growing construction industry, increasing demand for industrial flooring, rising awareness of safety standards, advancements in technology and eco-friendly resinous flooring solutions
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Resinous Flooring Market is expected to reach USD 5.28 billion in 2023.
The Resinous Flooring Market is projected to grow at a CAGR of 5.49% from 2024 to 2032.
North America is expected to hold the largest market share in the Resinous Flooring Market in 2023.
Key applications of Resinous Flooring include industrial, commercial, and residential flooring.
Major key competitors in the Resinous Flooring Market include BASF, RPM International, The Sherwin-Williams Company, and PPG Industries.
Major factors driving the growth of the Resinous Flooring Market include increasing demand from the industrial sector and rising construction activities.
Challenges faced by the Resinous Flooring Market include fluctuating raw material prices and environmental regulations.
Key trends in the Resinous Flooring Market include the growing adoption of sustainable flooring solutions and increasing demand for antimicrobial flooring.
The Resinous Flooring Market is expected to reach USD 8.53 billion by 2032.
Major growth opportunities for the Resinous Flooring Market include expanding applications in emerging economies and technological advancements.