The market for concrete floor coatings is expected to grow at a compound annual growth rate (CAGR) of 6.3% over the forecast period, from its estimated valuation of USD 1.39 billion in 2023 to USD 2.49 billion by 2033.
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"The Global concrete floor coatings Market 2023-2033 (USD Billion)")
Over the projected period, the concrete floor coatings market is anticipated to benefit from rising powder coatings demand and the advent of epoxy flooring as an eco-friendly option. The EPA and the European Commission have approved a slew of restrictions limiting the use of Volatile Organic Compounds containing paints. As a result, the expansion of the concrete floor coatings market is likely to be hampered. Advances in hydraulic fracturing have boosted the supply of oil and gas, ensuring that raw materials for the manufacture of concrete floor coatings are available in the near future.
Because of the construction industry's fall, increasing demand for floor coatings will be more challenging in 2021. The economic slowdown induced by the COVID-19 outbreak is projected to cause a period of low growth in building and construction throughout key areas over the following two years. The commercial building industry, in particular, has seen a significant drop as a result of the current situation. Lower demand in end-user sectors, such as the construction industry's accelerated growth fall and a slowdown in core industries, had a cascade effect on other industries, resulting in a drop in total demand for floor coatings.
Concrete Floor Coatings Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2021-2022 |
| Forecast Period | 2022-2032 |
| Study Period | 2022-2033 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2033 | USD 2.49 billion |
| Growth Rate | CAGR of 6.3 % during 2023-2033 |
| Segment Covered | by Product, By Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | BASF SE, The Sherwin-Williams Company, Akzo Nobel N.V., ArmorPoxy, RPM International Inc., Axalta Coating Systems, Ltd., Sika AG; PPG Industries, Inc., 3M, The Lubrizol Corporation, Trucrete Surfacing Systems, BEHR Process Corporation, PPG Industries, Tennant Coatings, and Others |
Key Segments of the Global Concrete Floor Coatings Market
Product Overview, (USD Billion)
- Epoxy
- Polyaspartics
- Other Products
Application Overview,(USD Billion)
- Outdoor
- Indoor
Regional Overview, (USD Billion)
North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Germany
- Denmark
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Mexico
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global concrete floor coatings market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global concrete floor coatings market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the concrete floor coatings industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type, product, and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global concrete floor coatings market. The report will benefit Every stakeholder involved in the concrete floor coatings market.
- Managers within the concrete floor coatings industry looking to publish recent and forecasted statistics about the global concrete floor coatings market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global concrete floor coatings market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The concrete floor coatings market is growing at a CAGR of 6.3 % during the forecast period.
The base year for the report is 2022 in concrete floor coatings market.
Asia Pacific dominated the market for concrete floor coatings market and accounted for the largest revenue share.
Concrete floor coverings can withstand a lot of resistance, including wear, tear, abrasion, and heat. Epoxy resins are likely to play a significant part in driving the concrete floor coatings market in the near future due to their increasing popularity due to their superior mechanical characteristics and high heat resistance. Furthermore, rising consumer awareness of floor coatings is likely to have a favourable influence on the industry in the not-too-distant future. The concrete floor coatings market is projected to be driven by the favourable construction industry outlook in BRICS as a result of increased government investment on infrastructure upgrades.
Various Middle Eastern governments have begun to reduce their reliance on the oil and gas industry, focusing instead on the growth of other sectors such as infrastructure, manufacturing, and power generation. As a result, Saudi Arabia, the United Arab Emirates, and Oman have boosted their infrastructure investment, which is likely to boost demand for concrete floor coatings in both indoor and outdoor applications in the near future.
Application Segment
Indoor applications were the most common for concrete floor coverings. Over the coming years, market demand in indoor applications is projected to be driven by the expanding application breadth of floor coatings in industrial and commercial applications due to their heat and wear resistance. The growing usage of concrete floor coatings in outdoor applications, such as basements, garage floors, staircases, and walkways, is projected to drive demand for concrete floor coatings.
Product Segment
Concrete floor coatings market was dominated by epoxy based materials in 2020 and expected to continue its dominance by virtue of increasing demand from construction industry. High abrasion resistance and high UV protection properties are expected to open new avenues for Polyaspartic concrete floor coatings over the coming years. Acrylic and polyurethane coatings are two more types of materials available. Emergence of bio-polyurethane biopolymers are expected to open up new opportunities for concrete floor coatings over the coming years.
Due to the expansion of the construction industry in India and China over the next several years, Asia Pacific is projected to be one of the major markets. China and India's governments have prioritised infrastructure development in their 12th Five-Year Plans, which will have a significant influence on the concrete floor coatings industry. The concrete floor coatings market in North America is projected to benefit from infrastructure development in Mexico as a result of industrial expansion in the car and oil & gas industries.
.png "Asia Pacific Concrete Floor Coatings Market 2019-2028 (USD Million)")
The major players of the global concrete floor coatings market are Nippon Paint Co. Ltd., Royal DSM N.V., BASF SE, Behr Process Corporation, PPG Industries Inc., DAW SE, The Sherwin-William Company, Solvay S.A., The Valspar Corporation, and AkzoNobel N.V. The major players are investing more in the development of new concrete floor coatings with better characteristics and efficiency. Furthermore, manufacturers are cooperating with other players to create products with enhanced characteristics, giving them a competitive edge over their competitors.