Market Size of flooring resins Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 9.94 Billion |
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Market Size (2030) | USD 13.57 Billion |
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Largest Share by End Use Sector | Industrial and Institutional |
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CAGR (2024 - 2030) | 5.33 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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
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
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
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
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
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.
Understand The Key Trends Shaping This 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.
