Resinous Flooring Market Size, Share & Trends Analysis Report By Resin Type (Epoxy, Polymethyl Methacrylate, Polyurethane), By End-use (Residential, Non-residential), By Region, And Segment Forecasts, 2024 - 2030

Resinous Flooring Market Size, Share & Trends Analysis Report By Resin Type (Epoxy, Polymethyl Methacrylate, Polyurethane), By End-use (Residential, Non-residential), By Region, And Segment Forecasts, 2024 - 2030

Resinous Flooring Market Growth & Trends

The global resinous flooring market size is expected to reach USD 7.88 billion by 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the flourishing construction industry around the world. This factor is anticipated to fuel the product demand. Additionally, ongoing urbanization in emerging economies has encouraged a large number of people to shift from rural areas to urban areas in search of jobs and improved quality of life.

Hence, infrastructure projects for developing residential complexes and apartments have increased globally. Similarly, the global demand for commercial spaces has surged in the last few years, owing to ongoing industrialization. This has led to the growth of the construction industry, which is further expected to drive the demand for resinous flooring in the global market in the coming years.

Various types of resinous flooring, such as epoxy, polymethyl methacrylate, and polyurethane, are the major resin materials used in the construction sector. These materials are used to highlight the overall aesthetics and interiors of non-residential buildings, such as commercial complexes, offices, hotels, educational institutions, and hospitals. These floorings are available in a variety of finishes and colors with the option of customization. This leads to a surge in demand for resinous flooring globally.

Raw material suppliers of epoxy, polymethyl methacrylate (PMMA), and polyurethane account for a major share of the cost of end products. The use of specialized machinery and tools by the manufacturers significantly increases the value of resinous flooring products. Moreover, planning, transportation, and storage of these flooring materials contribute to the final value of resinous flooring products.

However, manufacturing and installation of resinous floorings have a negative environmental impact, which is expected to hamper the growth of the market. Epoxy resin is derived from petroleum products and emits fumes when applied as flooring material. The fumes emitted by epoxy resin can be hazardous to construction workers and the environment. Epoxy resin may also leach chemicals, such as Bisphenol A into groundwater, thereby polluting the waterbodies. The higher pollution rates caused by epoxy resins are expected to restrict market growth.

Key players operating in the construction nails market include Stonhard, Tripolarcon Pvt Ltd, Zeraus Products Inc., Sika AG, RESDEV, and CEMENTOS CAPA, S.L. These firms are investing resources into different strategies to secure an advantage in the competition against other competitors in the market. The strategies adopted by manufacturers include expansion, product launches, collaborations, and research & development. Furthermore, development of new technologies such as digital printing and sol-gel technology, coupled with the innovation of new materials such as bio-based epoxy resins, is expected to offer new growth opportunities to the market players.

Resinous Flooring Market Report Highlights

• Epoxy resin type segment dominated the market in 2023 and was valued at USD 2.23 billion in 2023. The growth of epoxy resin type segment can be attributed to the durability, chemical resistance, and ease of cleaning offered by epoxy flooring. Moreover, epoxy flooring is often used in warehouses, factories, garages, etc. with high foot traffic or exposure to harsh chemicals
• Based on end use, resinous flooring market has been segmented into residential and non-residential. Non-residential segment dominated the market in 2023 by accounting for a revenue share of 88.1% of the same. This segment includes healthcare facilities, industrial buildings, educational institutes, retail stores, and offices. As commercial establishments are considered high-traffic areas, they require durable flooring developed from epoxy or polyurethane
• Asia Pacific is projected to be the largest and fastest-growing market for resinous flooring in terms of revenue globally over the forecast period. The market in this region was valued at USD 2.01 billion in 2023. The penetration of multinational brands of resinous flooring, backed by favorable trade policies, is contributing to the growth of commercial sector in Asia Pacific. The consequent rise in the construction of shopping malls, office spaces, lodges, and other utility spaces across the region is expected to fuel the demand for resinous flooring in Asia Pacific in the coming years
• Resinous flooring market exhibits presence of both, regional and multinational players thus, leading to high competition. Key players in this market are investing in improving the quality of their products and enhancing their manufacturing capacities. They are also increasingly focusing on enhancing the quality of their products and providing customization options for them in terms of color, texture, and size for use in specific applications

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