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 & Trends

The global resinous flooring market size was valued at USD 5.11 billion in 2023 and is projected to grow at a CAGR of 6.5% from 2024 to 2030. The growth of the market can be attributed to the surging demand for highly durable and aesthetically appealing flooring developed from resins such as epoxy, polyurethane, and polymethyl methacrylate. In addition, the rising per capita income of the masses and the increasing population are fueling construction activities across the world, thereby leading to the surged global product demand.

Moreover, growing population, increasing per capita income, and rising urbanization in emerging countries such as Mexico, South Africa, India, China, South Korea, and Brazil, are expected to boost the number of residential and non-residential construction projects in the coming years.

Resinous flooring types, such as epoxy and polymethyl methacrylate, offer high insulation properties. They are used to provide thermal insulation to buildings to maintain the inner temperature of a structure. In addition, these types have superior sound insulation properties, which aid in preventing sound spreading and reducing noise level impacts. This makes it an ideal flooring solution for areas that require a silent environment.

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.

The presence of a large number of suppliers, leading to low switching costs, is expected to increase the bargaining power of buyers. Major players cater to customers’ needs through e-commerce platforms. A variety of resinous flooring solutions are available in different colors, dimensions, materials, textures, and costs, which increases options for customers. Thus, the bargaining power of buyers is expected to be high over the forecast period.

Market Concentration & Characteristics

Market growth stage is high, and pace of the market growth is accelerating. The growth in printing technologies, such as digital printing, aids in providing a variety of patterns along with realistic visuals. Furthermore, the new material and coating technologies provide several benefits, such as a wide range of patterns and colors, stain & chemical resistance, high wear resistance, and low maintenance. These factors led to a moderately high degree of innovation.

The resinous flooring market is governed by several regulations and standards on its use and production. Several agencies, such as the National Bureau of Standards, U.S. Food & Drug Administration, FeRFA- Resin Flooring Association, EFNARC, and Indian Standard, have levied regulations on resins used in manufacturing process. The regulations have also been implemented on the requirements and test methods for resinous flooring production.

The market witnesses a wide range of substitutes for resinous flooring such as wood. LVT, vinyl, resilient, carpet, and ceramic tiles. The development of eco-friendly solutions, including cork, natural linoleum, bamboo, and rubber, further poses a threat to market growth.

Cost, design, and aesthetics play an important role in selecting the resinous flooring options by the end users. In addition, increasing government spending on infrastructure development on residential and non-residential structures in developing countries, such as India, Taiwan, Brazil, and Mexico, is expected to play an important role in augmenting the end use concentration.

Resin Type Insights

Epoxy resin accounted for a significant market share in 2023 and is expected to grow at the fastest CAGR of 6.8% over the forecast period. Epoxy resinous flooring consists of a combination of epoxy resin and a hardening agent. Its features, such as durability, resistance to chemicals, and easy-to-clean properties, make it suitable for various industrial, commercial, and residential applications.

Polymethyl methacrylate (PMMA) resinous flooring is durable, chemical resistant, and has a faster curing time compared to epoxy. PMMA is commonly used in industrial and commercial applications where high-performance material is required, such as food processing plants, laboratories, and pharmaceutical facilities.

Polyurethane resin accounted for a revenue share of 37.9% in 2023. The rising use of polyurethane resin in flooring for the manufacturing industry, warehouses, chemical industry, and food processing industry, on account of its durability, is driving the market growth. Additionally, the product offers reduced noise and higher comfort while walking, due to the higher elasticity of polyurethane resin.

A cementitious urethane flooring system is produced with a mixture of Portland cement, aggregates, water, and modified urethane. This mixture results in a flooring system that is highly unaffected by chemicals and liquids and can withstand high temperatures without cracking. These factors have positively affected the demand for cementitious urethane market.

End Use Insights

The non-residential segment accounted for a major share of around 88.1% of the global revenue in 2023. Non-residential spaces include commercial buildings, such as offices, convenience stores, shopping malls, and retail stores. These spaces are subject to high-foot traffic and, thus, require resinous flooring made from epoxy, polymethyl methacrylate, and polyurethane material owing to its durability and low maintenance.

Commercial and industrial buildings often require flooring with low maintenance and resistance to stains. Resinous floors offer protection against scratches, abrasions, and stains, and require routine sweeping to maintain their integrity. These factors are driving the product demand.

Residential end use segment is expected to grow at a CAGR of 6.3% over the forecast period. Rising use of epoxy and polyurethane flooring in living rooms, kitchens, garages, and basements is growing, owing to their easy maintenance, durability, seamless finish, and versatility.

Moreover, the growing employment rate and the rising income level of the masses, along with the easy availability of finances for the public in general, are surging the demand for residential buildings in developing economies such as India, Mexico, China, and Brazil.

Regional Insights

North America resinous flooring market had a volume of 247.76 million square feet in 2023 on account of the rising awareness regarding the benefits of insulating building structures is expected to benefit the market growth over the coming years.Moreover, the increasing product demand from the commercial sector, such as retail chains, shopping malls, and supermarkets & hypermarkets, is expected to fuel market growth in the coming years.

U.S. Resinous Flooring Market Trends

The country is witnessing increased investments in the construction industry. According to the U.S. Census Bureau, the construction of new homes increased by 9.8% in February 2023 compared to January 2023, thereby driving the U.S. resinous flooring market.

Europe Resinous Flooring Market Trends

The region is characterized by the presence of several large-scale construction companies, including SAIPEM SpA, Balfour Beatty, STRABAG International GmbH, HOCHTIEF Aktiengesellschaft, and Vinci which is expected to have a positive impact on the growth of resinous flooring market in Europe over the forecast period.

The resinous flooring market in the UK is expected to grow at a CAGR of 5.9% over the forecast period. The UK government has established various energy-efficiency legislations and initiatives, such as Energy Company Obligation (ECO), to reduce overall carbon emissions and energy consumption. This is expected to increase the adoption of bio-based epoxy resin flooring.

The Germany resinous flooring market government plans to invest a total of USD 19.48 billion by 2027 to develop infrastructure and the home-building sector in the coming years. This is expected to fuel the construction sector, which, in turn, is expected to propel the demand for resinous flooring in Germany.

Asia Pacific Resinous Flooring Market Trends

In 2023, Asia Pacific resinous flooring market was the largest region with the revenue share of 39.3% in the global market. Factors such as increasing investment in affordable housing, smart city construction, upgrade and construction of infrastructure, and investment in the tourism sector, are expected to boost the demand for resinous flooring products over the forecast period.

Resinous flooring market in India is growing at highest CAGR of 7.4% over the forecast period of 2024 to 2030. The ongoing construction projects, such as the Mumbai Trans Harbor Link, the Navi Mumbai International Airport, the Noida International Airport, and the construction of Dholera Smart City, are expected to boost product demand.

Resinous flooring market in China accounted for the largest revenue share of 52.1% on account of the developed industrial sector, coupled with rising demand for residential and commercial buildings in the country.

Central & South America Resinous Flooring Market Trends

Central & South America resinous flooring market is growing at a CAGR of 5.8% over the forecast year 2024 to 2030. Various initiatives undertaken by the governments of different countries in the region in the form of the National Infrastructure Program and the National Housing Commission are projected to have a positive impact on product growth.

The Brazil resinous flooring market accounted for USD 89.0 million in 2023 owing to the support of the Brazilian government to balance the supply and demand of affordable houses due to ongoing urbanization in the country.

Middle East & Africa Resinous Flooring Market Trends

Increasing popularity for eco-friendly and energy-saving buildings in the region to enhance employee well-being, reduce building and maintenance expenses, and boost the efficiency of employees are anticipated to growth opportunities for resinous flooring market in Middle East & Africa.

The Saudi Arabia resinous flooring market is expected to lead the resinous flooring market in the Middle East & Africa during the forecast period owing to continued investments by the government of the country in infrastructure development projects.

Key Resinous Flooring Company Insights

Some of the key players operating in the market include Sika AG,Stonhard, Flowcrete Group Ltd., and CEMENTOS CAPA, S.L.:

•  Flowcrete Group Ltd. develops flooring solutions for commercial and industrial applications. It manufactures smoothing epoxies, polyurethane (PU) screeds, methyl methacrylate (MMA) finishes, and vinyl ester resins.

• Sika AG provides solutions for use in construction and industrial applications. Construction solutions offered by it include building materials, protection solutions, finishing solutions, and repairing materials for airports, bridges & highways, dams & hydropower plants, data centers, factories & warehouses, tunnels, and mines.

Tripolarcon Pvt. Ltd. and Zeraus Products, Inc. are some of the emerging market participants in resinous flooring market.

• Tripolarcon Pvt. Ltd. manufactures chemical products such as waterproofing chemicals, epoxy floorings, coating solutions, PU coatings, and sealants used in the construction industry.

• Zeraus Products, Inc. develops, manufactures, and supplies a range of epoxy floorings, advanced waterborne coatings, adhesives, and polyaspartics to enhance and protect concrete structures.

Recent Developments

• In April 2023, Dur-A-Flex, Inc. launched its new product, a breathable epoxy flooring system named Vent-E. It is specifically designed to protect concrete floors.

• In November 2022, Stonhard announced the launch of its FE series for decorative flooring products, i.e., Stonblend FE, Stontec FE, and Stonshield FE. These flooring products can be easily installed and cleaned and offer custom design options. They are produced from flex epoxy mixed with quartz aggregates.

Resinous Flooring Market Report Scope

Global Resinous Flooring Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global resinous flooring market report based on resin type, end use, and region:

• Resin Type Outlook (Volume, Million Square Feet; Revenue, USD Million, 2018 - 2030)

  • Epoxy

  • Polymethyl Methacrylate

  • Polyurethane

  • Other Resin Types

• End-use Outlook (Volume, Million Square Feet; Revenue, USD Million, 2018 - 2030)

  • Residential

  • Non-residential

    • Industrial Buildings

    • Healthcare

    • Educational

    • Offices

    • Retail Stores

    • Other Non-residential End Uses

• Regional Outlook (Volume, Million Square Feet; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE