The Resin Flooring Market is segmented by Material Type (Epoxy, PU Resin, MMA, and Others), Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), End-User Type (Industrial and Residential & Commercial), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Austria, Italy, Spain, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Due to the pandemic, the resin flooring market contracted by -5.0% in 2020. In the same year, the demand for resin flooring drastically decreased in all four regions. However, in 2021, the market experienced an extraordinary growth of 33.4% as the year saw an increase in the building sector as renovation activities grew by 60% worldwide. The need for flooring materials will also be further complemented by the manufacturing sector's ongoing expansion.
The resin flooring market is becoming more and more consolidated every year as a number of essential companies make strategic acquisitions and mergers to get an advantage over rivals and take advantage of growth prospects. For instance, in 2021 RPM’s subsidiary Carboline purchased Dudik Inc., a market leader in high-performance coatings, flooring, and tank linings. Similar to this, COVESTRO AG purchased Royal DSM's Resins & Functional Materials business, which will enhance their global network and add profits estimated to be US$ 1.2 billion.
Europe is the most dominant market for resin flooring. The countries, such as Germany, France, and the UK, are the major growth engines of the regional market due to the presence of major market players, distributors, and contractors. Several flooring material suppliers have their presence in the region to address the emergent needs of the market.
Asia-Pacific, another major market for resin flooring, is subjected to grow at the highest pace over the next five years. China alone holds more than half of the region's market and will continue marking greater dominance in the region as well as the global market. Over the years, there has been a constant increase in the penetration of resin flooring in the major Asian economies, particularly in China, a key factor driving the demand in the region.
Here is the list of the group of customers that the resin flooring market hopes to have the greatest opportunity to convert-
- Logistics organizations
- Government bodies
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