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India Flooring Resins Market Size

The India Flooring Resins Market is experiencing significant growth, driven by increasing demand from the industrial, institutional, and commercial construction sectors. The market's expansion is fueled by urbanization and industrialization, with the industrial and institutional sectors being the largest consumers. The commercial sector is anticipated to be the fastest-growing segment, reflecting a robust increase in the demand for office and retail spaces. This growth trajectory highlights the dynamic nature of the market, as it adapts to the evolving needs of various construction sectors across the country.

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Market Size of india flooring resins Industry

India Flooring Resins Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 289.84 Million
svg icon Market Size (2030) USD 446.29 Million
svg icon Largest Share by End Use Sector Industrial and Institutional
svg icon CAGR (2024 - 2030) 7.46 %
svg icon Fastest Growing by End Use Sector Commercial
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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India Flooring Resins Market Analysis

The India Flooring Resins Market size is estimated at 289.84 million USD in 2024, and is expected to reach 446.29 million USD by 2030, growing at a CAGR of 7.46% during the forecast period (2024-2030).

289.84 Million

Market Size in 2024 (USD)

446.29 Million

Market Size in 2030 (USD)

3.50 %

CAGR (2018-2023)

7.46 %

CAGR (2024-2030)

Largest Market by Sub Product

49.26 %

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 tool industry, etc.

Fastest Market by Sub Product

9.21 %

Projected CAGR, Acrylic, 2024-2030

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With fast-paced growth in new floor areas, especially from the residential and commercial sectors, coupled with rising applications in the industrial sector, acrylic resin is expected to witness the fastest growth.

Largest Market by End Use Sector

69.27 %

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.

Fastest Market by End Use Sector

9.14 %

Projected CAGR, Commercial, 2024-2030

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Growing investments in construction for IT Hubs, coupled with increasing consumption of flooring resins for malls, offices, etc., are expected to drive the demand in the sector during the forecast period.

Leading Company

12.60 %

market share, Kansai Paint Co.,Ltd., Ltd.

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The company's dominance in the market can be attributed to its large product portfolio and strong distribution channels in the country.

The rise in demand for office space is likely to drive the demand for flooring resins in the market

  • The consumption value of flooring resins in India witnessed a growth of 6.78% in 2022 compared to the previous year due to increasing demand from the industrial & institutional and commercial construction sectors. In 2023, the country’s flooring resins market was estimated to account for 7.52% of the overall Asia-Pacific flooring resins market.
  • The industrial and institutional sector is the country’s largest consumer of flooring resins, accounting for around 70% in 2022. The industrial and institutional new floor area in the country is projected to reach 682 million square feet in 2030 from 591 million square feet in 2023, owing to increased investment in the construction of industrial and healthcare sectors. Furthermore, growing urbanization and industrialization further aid the country's market growth. As a result, the flooring resins segment for the industrial sector is projected to increase by USD 439 million in 2030 as compared to 2023.
  • The country’s commercial sector is expected to be the fastest-growing consumer of flooring resins, with the highest CAGR of 9.20% during the forecast period. The commercial new floor area in the country is expected to reach 830 million square feet in 2023, owing to the rise in demand for shopping malls & centers, office and retail space, and others. For instance, India’s Grade A office market across the top seven cities is expected to grow to around 1 billion square feet in size by 2026 and to reach 1.2 billion square feet by 2030. As a result, the country's flooring resins market for the commercial sector is projected to reach USD 97.74 million in 2030 from USD 52.79 million in 2023.
India Flooring Resins Market

India 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.

  • The consumption value of flooring resins in India witnessed a growth of 6.78% in 2022 compared to the previous year due to increasing demand from the industrial & institutional and commercial construction sectors. In 2023, the country’s flooring resins market was estimated to account for 7.52% of the overall Asia-Pacific flooring resins market.
  • The industrial and institutional sector is the country’s largest consumer of flooring resins, accounting for around 70% in 2022. The industrial and institutional new floor area in the country is projected to reach 682 million square feet in 2030 from 591 million square feet in 2023, owing to increased investment in the construction of industrial and healthcare sectors. Furthermore, growing urbanization and industrialization further aid the country's market growth. As a result, the flooring resins segment for the industrial sector is projected to increase by USD 439 million in 2030 as compared to 2023.
  • The country’s commercial sector is expected to be the fastest-growing consumer of flooring resins, with the highest CAGR of 9.20% during the forecast period. The commercial new floor area in the country is expected to reach 830 million square feet in 2023, owing to the rise in demand for shopping malls & centers, office and retail space, and others. For instance, India’s Grade A office market across the top seven cities is expected to grow to around 1 billion square feet in size by 2026 and to reach 1.2 billion square feet by 2030. As a result, the country's flooring resins market for the commercial sector is projected to reach USD 97.74 million in 2030 from USD 52.79 million in 2023.
End Use Sector
Commercial
Industrial and Institutional
Infrastructure
Residential
Sub Product
Acrylic
Epoxy
Polyaspartic
Polyurethane
Other Resin Types
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India Flooring Resins Market Size Summary

The India Flooring Resins Market is experiencing significant growth, driven by increasing demand from the industrial, institutional, and commercial construction sectors. The industrial and institutional sectors are the largest consumers, with substantial investments in healthcare and industrial infrastructure. This growth is further supported by urbanization and industrialization trends, which are expanding the market's reach. The commercial sector, in particular, is poised for rapid expansion, fueled by the rising demand for shopping malls, office spaces, and retail outlets. The market's expansion is also reflected in the growing Grade A office market across major cities, which is expected to see substantial growth in the coming years.

The residential sector in India is also witnessing a resurgence, with a notable increase in housing demand, particularly in the top seven cities. This demand is driven by favorable government policies, increased investments, and a shift towards urban living. The market is characterized by a fragmented landscape, with major players like Asian Paints PPG Pvt. Ltd., Kansai Paint Co., Ltd., MBCC Group, Sika AG, and The Sherwin-Williams Company holding significant shares. Recent strategic moves by these companies, such as acquisitions and new product launches, are expected to enhance their market positions and drive further growth in the flooring resins sector.

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India 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

India Flooring Resins Market Size FAQs

The India Flooring Resins Market size is expected to reach USD 289.84 million in 2024 and grow at a CAGR of 7.46% to reach USD 446.29 million by 2030.

In 2024, the India Flooring Resins Market size is expected to reach USD 289.84 million.

India Flooring Resins Market Report Snapshots

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