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Flooring Resins Market Size

The flooring resins market is projected to experience significant growth, driven by increasing demand from the industrial, institutional, and commercial construction sectors. The market's expansion is particularly notable in the Asia-Pacific region, with China and India leading in demand. North America also shows a strong growth trajectory, especially in the infrastructure sector. Europe, while being the second-largest consumer, has a substantial demand driven by its developed countries. The commercial sector is expected to lead in consumption growth, reflecting a broader trend of rising construction activities globally.

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Market Size of flooring resins Industry

Flooring Resins Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 9.94 Billion
svg icon Market Size (2030) USD 13.57 Billion
svg icon Largest Share by End Use Sector Industrial and Institutional
svg icon CAGR (2024 - 2030) 5.33 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Flooring Resins Market Analysis

The Flooring Resins Market size is estimated at 9.94 billion USD in 2024, and is expected to reach 13.57 billion USD by 2030, growing at a CAGR of 5.33% during the forecast period (2024-2030).

9.94 Billion

Market Size in 2024 (USD)

13.57 Billion

Market Size in 2030 (USD)

4.42 %

CAGR (2018-2023)

5.33 %

CAGR (2024-2030)

Largest Market by Sub Product

51.77 %

value share, Epoxy, 2023

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The epoxy segment holds the largest share due to its widespread use in commercial and industrial flooring for various applications in offices, restaurants, hotels, the tools industry, etc.

Largest Market by End Use Sector

87.85 %

value share, Industrial and Institutional, 2023

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The sector occupied the largest market share due to the increasing consumption of flooring resins due to their high resistance properties to oil, water, and lubricants from the chemical, pharmaceutical, food industries, etc.

Largest Market by Region

37.94 %

value share, Asia-Pacific, 2023

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The region has dominated the market due to the growing construction industrial activity and the increasing demand for flooring resins in countries like China, India, Japan, and South Korea.

Fastest Market by Region

6.10 %

Projected CAGR, Asia-Pacific, 2024-2030

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The Asia-Pacific region is expected to grow fastest due to growing investments in infrastructure projects, government initiatives, fast-paced urbanization, and industrialization.

Leading Company

9.37 %

market share, Sika AG, 2022

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The company's broad range of high-quality products, well-established network, robust supply chain, and strategic expansions and acquisitions in the construction industry make it a major player in the market.

Rise in demand for shopping malls and centers and offices is likely to drive the demand for flooring resins

  • In 2022, the global consumption value of flooring resins registered a 3.08% growth rate, driven by heightened demand from the industrial and institutional and commercial construction sectors. In 2023, the flooring resins market was expected to grow by approximately 11.09% of the global construction chemicals market.
  • With a dominant share of 87.89% in 2022, the industrial and institutional sector emerged as the leading consumer of flooring resins. This surge can be attributed to a notable expansion in new construction floor areas. For instance, the global industrial floor area is expected to rise by 2.01 billion square feet by 2030 compared to 2023. This uptick is primarily fueled by increased investments in industrial, education, and healthcare construction. Notably, the United States is anticipated to spend a staggering USD 47.59 billion on new industrial buildings by 2026. Consequently, the demand for flooring resins in the industrial sector is projected to rise by USD 3.59 billion in 2030 compared to 2023.
  • The commercial sector is poised to be the frontrunner in flooring resin consumption, registering a robust CAGR of 6.87% during the forecast period. The global commercial floor area is expected to expand by 2.50 billion square feet by 2030, led by surging demand for shopping malls, offices, and other commercial spaces, particularly in developing nations. For instance, Indonesia is slated to witness the completion of six shopping mall projects, adding up to a total area of 292 thousand square meters by 2025. These trends indicate that the global flooring resin demand in the commercial sector is projected to increase from USD 588 million in 2023 to USD 936 million in 2030.
Global Flooring Resins Market

India and Japan managing the flooring resins market to grow the fastest in the Asia-Pacific region

  • The demand for flooring resins in 2022 increased the most in North America compared to the previous year. The region registered a 5.74% growth in demand in 2022 compared to 2021. The trend was expected to continue in 2023. Thus, the overall demand for flooring resins was estimated to increase the most in the infrastructure end-user sector in 2023 compared to 2022.
  • Asia-Pacific, spearheaded by China and India, dominates the global flooring resins market. In 2022, these two nations alone accounted for a staggering 77% of the region's total demand. Commercial usage, following industrial and institutional, is the primary driver of flooring resin consumption in the Asia-Pacific. Notably, India is poised to be the region's fastest-growing market, registering a CAGR of 7.5% during the forecast period (2023-2030).
  • Europe is the world's second-largest consumer of flooring resins and has the highest number of developed countries contributing to such high demand. Germany is the region's most extensive flooring resins consumer, accounting for nearly 17% of the total demand in 2022. Epoxy and polyurethane-based flooring resins comprise more than 80% of Europe's portfolio.
  • Asia-Pacific, driven by India and Japan, is expected to witness the most rapid growth in the flooring resins market, registering a CAGR of 6.13% during the forecast period (2023-2030). Specifically, India and Japan are expected to record surging demand, registering CAGRs of 7.53% and 7.09%, respectively, during this period.

Flooring Resins Industry Segmentation

Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Acrylic, Epoxy, Polyaspartic, Polyurethane are covered as segments by Sub Product. Asia-Pacific, Europe, Middle East and Africa, North America, South America are covered as segments by Region.

  • In 2022, the global consumption value of flooring resins registered a 3.08% growth rate, driven by heightened demand from the industrial and institutional and commercial construction sectors. In 2023, the flooring resins market was expected to grow by approximately 11.09% of the global construction chemicals market.
  • With a dominant share of 87.89% in 2022, the industrial and institutional sector emerged as the leading consumer of flooring resins. This surge can be attributed to a notable expansion in new construction floor areas. For instance, the global industrial floor area is expected to rise by 2.01 billion square feet by 2030 compared to 2023. This uptick is primarily fueled by increased investments in industrial, education, and healthcare construction. Notably, the United States is anticipated to spend a staggering USD 47.59 billion on new industrial buildings by 2026. Consequently, the demand for flooring resins in the industrial sector is projected to rise by USD 3.59 billion in 2030 compared to 2023.
  • The commercial sector is poised to be the frontrunner in flooring resin consumption, registering a robust CAGR of 6.87% during the forecast period. The global commercial floor area is expected to expand by 2.50 billion square feet by 2030, led by surging demand for shopping malls, offices, and other commercial spaces, particularly in developing nations. For instance, Indonesia is slated to witness the completion of six shopping mall projects, adding up to a total area of 292 thousand square meters by 2025. These trends indicate that the global flooring resin demand in the commercial sector is projected to increase from USD 588 million in 2023 to USD 936 million in 2030.
End Use Sector
Commercial
Industrial and Institutional
Infrastructure
Residential
Sub Product
Acrylic
Epoxy
Polyaspartic
Polyurethane
Other Resin Types
Region
Asia-Pacific
By Country
Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Vietnam
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Russia
Spain
United Kingdom
Rest of Europe
Middle East and Africa
By Country
Saudi Arabia
United Arab Emirates
Rest of Middle East and Africa
North America
By Country
Canada
Mexico
United States
South America
By Country
Argentina
Brazil
Rest of South America
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Flooring Resins Market Size Summary

The flooring resins market is experiencing significant growth, driven by increasing demand from industrial, institutional, and commercial construction sectors. The industrial and institutional sector is the largest consumer, largely due to the expansion of new construction floor areas. This growth is supported by substantial investments in industrial, education, and healthcare construction, particularly in regions like North America and Asia-Pacific. The commercial sector is also witnessing robust growth, with a strong demand for shopping malls, offices, and other commercial spaces, especially in developing countries. The Asia-Pacific region, led by China and India, dominates the market, with India expected to be the fastest-growing market in the region. Europe follows as the second-largest consumer, with Germany being a significant contributor to the demand.

The market is characterized by a fragmented landscape, with major players like Henkel AG & Co. KGaA, MBCC Group, RPM International Inc., Sika AG, and The Sherwin-Williams Company holding a substantial share. Recent strategic moves, such as Sika's acquisition of the MBCC Group and The Sherwin-Williams Company's introduction of new flooring solutions, highlight the dynamic nature of the market. Despite challenges posed by the COVID-19 pandemic, such as labor and material shortages, the market is poised for recovery and growth, with forecasts indicating a steady increase in demand for flooring resins across various sectors and regions.

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Flooring Resins Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size, forecasts up to 2030 and analysis of growth prospects.)

    1. 1.1 End Use Sector

      1. 1.1.1 Commercial

      2. 1.1.2 Industrial and Institutional

      3. 1.1.3 Infrastructure

      4. 1.1.4 Residential

    2. 1.2 Sub Product

      1. 1.2.1 Acrylic

      2. 1.2.2 Epoxy

      3. 1.2.3 Polyaspartic

      4. 1.2.4 Polyurethane

      5. 1.2.5 Other Resin Types

    3. 1.3 Region

      1. 1.3.1 Asia-Pacific

        1. 1.3.1.1 By Country

          1. 1.3.1.1.1 Australia

          2. 1.3.1.1.2 China

          3. 1.3.1.1.3 India

          4. 1.3.1.1.4 Indonesia

          5. 1.3.1.1.5 Japan

          6. 1.3.1.1.6 Malaysia

          7. 1.3.1.1.7 South Korea

          8. 1.3.1.1.8 Thailand

          9. 1.3.1.1.9 Vietnam

          10. 1.3.1.1.10 Rest of Asia-Pacific

      2. 1.3.2 Europe

        1. 1.3.2.1 By Country

          1. 1.3.2.1.1 France

          2. 1.3.2.1.2 Germany

          3. 1.3.2.1.3 Italy

          4. 1.3.2.1.4 Russia

          5. 1.3.2.1.5 Spain

          6. 1.3.2.1.6 United Kingdom

          7. 1.3.2.1.7 Rest of Europe

      3. 1.3.3 Middle East and Africa

        1. 1.3.3.1 By Country

          1. 1.3.3.1.1 Saudi Arabia

          2. 1.3.3.1.2 United Arab Emirates

          3. 1.3.3.1.3 Rest of Middle East and Africa

      4. 1.3.4 North America

        1. 1.3.4.1 By Country

          1. 1.3.4.1.1 Canada

          2. 1.3.4.1.2 Mexico

          3. 1.3.4.1.3 United States

      5. 1.3.5 South America

        1. 1.3.5.1 By Country

          1. 1.3.5.1.1 Argentina

          2. 1.3.5.1.2 Brazil

          3. 1.3.5.1.3 Rest of South America

Flooring Resins Market Size FAQs

The Global Flooring Resins Market size is expected to reach USD 9.94 billion in 2024 and grow at a CAGR of 5.33% to reach USD 13.57 billion by 2030.

In 2024, the Global Flooring Resins Market size is expected to reach USD 9.94 billion.

Flooring Resins Market Report Snapshots

Flooring Resins Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030