Global Concrete Floor Coatings Market is Growing at a CAGR of Around 7% During 2020 – 2027Published Date: July 9, 2020 |
Concrete floor coatings play a vital role in protecting concrete floors in various construction applications. Concrete floor coatings are extensively used across the globe to mitigate effects such as abrasion, thermal shocks and chemical attacks. Global demand for concrete floor coatings is primarily driven by growth in the global construction industry and increasing awareness about the importance of floor coatings. These factors are expected to remain the major driving forces for the concrete floor coatings market in the near future. Volatility in prices and supply of raw materials used in the production of concrete floor coatings is expected to be a key challenge for market participants.
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Epoxy-based concrete floor coatings was the predominant concrete floor coatings product segment, accounting for over 55.0% of global demand in 2019. The demand for epoxy-based concrete floor coatings is expected to witness robust growth in the next few years, particularly in the Asia Pacific, due to its easy availability and low cost. Rapid curing rate, better abrasion and wear and tear resistance, and better UV protection offered by polyaspartic coatings is expected to be the major factors driving the demand for polyaspartic based concrete floor coatings. These properties are anticipated to be the key driving factors of concrete floor coatings in the next few years.
North America was the largest market for concrete floor coatings in 2019, followed by Asia Pacific and Europe. Asia Pacific is expected to be the fastest-growing regional market in terms of both concrete floor coatings consumption and production. This can be attributed to increasing awareness about floor coatings and growth in construction activities in the region. The Asia Pacific has emerged as a key market for producers of concrete floor coatings due to economic development coupled with increasing population and urbanization in the region. This has prompted various manufacturers to focus on establishing new capacities in Asia Pacific. Europe is another significant regional market with strong demand for concrete floor coatings. In terms of revenue, the market for concrete floor coatings in Europe is expected to grow at a CAGR of around 6% between 2020 and 2027.
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Major participants in the concrete floor coatings industry include BASF SE, Sherwin-Williams, DSM, RPM International Inc., The Valspar Corporation, and PPG Industries.
Concrete Floor Coatings Market – Product Segment Analysis
- Others (including acrylic, polyurethane, etc.)
Concrete Floor Coatings Market – Application Segment Analysis
Concrete Floor Coatings Market – Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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