ROCKVILLE, Md., Feb. 15, 2022 (GLOBE NEWSWIRE) -- Concrete floor coatings, which are mechanical and chemical stress-resistant layers on concrete floors, have high requirement in building, construction, and renovation industries. With these key end-use industries growing rapidly, demand for epoxy-based and concrete floor coatings is spiralling upward.
According to data revealed by the Government of the United Kingdom in its report titled "Industrial Strategy: Government and Industry in Partnership", the global building & construction industry is highly progressive and expected to grow by over 70% by 2025 compared to the year 2013.
According to Fact.MR analysis, the global concrete floor coatings market is predicted to expand at close to 6% CAGR through 2031.
While main end-use industries such as residential, commercial, and other construction industries got battered by the outbreak of the COVID-19 pandemic earlier in the year 2020, recovery has started with the commencement of vaccination and the world bouncing back to the ‘new normal’.
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What’s keeping the United States at the Forefront?
The United States, being the leading country in the world’s second-largest market of concrete floor coatings, North America, is in the spotlight for suppliers and manufacturers.
Exponential growth of the construction industry and various governmental guidelines and initiatives for this sector are projected to further propel growth in the U.S. throughout the forecast period.
The United States Environmental Protection Agency (EPA) recently launched An Operations & Maintenance (O&M) program to efficiently track and ensure construction and renovation work for various commercial, industrial, or other buildings.
According to the Census Bureau of the United States, total seasonally adjusted annual spending on the construction industry in the U.S. was US$ 1490.39 billion as in 2020, and it is increasing gradually. This, in turn, is creating ample opportunities for concrete floor coating manufacturers in the United States.
Which Type of Concrete Floor Coating is Most in Demand?
Presently, epoxy-based concrete floor coatings are dominating the market, and are projected to remain in the position over the coming years. Advantages of such coatings that make them highly preferred by end-use industries are-
- It provides with a slip-resistant property to concrete floors
- It is durable and easily maintainable
- Gives a unique and impressive finishing look as per requirements and others.
Polyaspartic concrete floor coatings is another key segment in terms of product, which is propelling the growth of manufacturers.
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Concrete Floor Coatings Market Segmentation by Category
Application
- Indoor
- Outdoor
Product
- Epoxy-based
- Polyaspartic
- Other Products
Region
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
Key Takeaways from Concrete Floor Coatings Market Study
- Epoxy-based coatings to witness highest demand.
- Asia Pacific to lead the global concrete floor coatings market, with its epicentres in India and China.
- The United States remains lucrative in the North America concrete floor coatings market.
- Germany to take the spotlight in Europe’s market.
- Japan, Mexico, the United Kingdom, Canada, and a few other countries to emerge heavyweights for concrete floor coating manufacturers.
- Rise in demand from indoor and outdoor segments to propel market growth.
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Competitive Landscape
The global concrete floor coatings market offers a highly competitive environment to its key players.
In order to hold their position through the cut-throat competition, key players are investing heavily while focusing on launching better quality products.
For instance,
- Daw SE launched its new range of concrete floor coatings and related materials such as DISBON 404 Acrylic Floor Sealer, Dispobox 442 Garage Sealer, and others, in 2018.
- PPG Industries, Inc. launched its new extensive range of concrete floor coatings such as PPG General Purpose Floor Coatings, PPG Wear-Resistant Floor Coatings, and others, in 2020.
- The Valspar Corporation launched its new broad range of concrete floor coatings such as Valspar® Epoxy-based Two component Garage Floor Coatings, Valspar ® Indoor and Outdoor Floor Coatings, and others, a few years back.
Key Companies Profiled
- BASF SE
- Behr Process Corporation
- Daw SE
- Nippon Paint Co., Ltd.
- PPG Industries, Inc.
- The Sherwin-Williams Company
- The Valspar Corporation
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Report Coverage
- Market Forecasts
- Brand Share Analysis
- Competition Intelligence
- DROT Analysis
- Market Dynamics and Challenges
- Strategic Growth Initiatives
“Steady growth of the building & construction industry has been fuelling the sales of concrete floor coatings, especially epoxy-based coatings, since the past decade,”
Says a Fact.MR analyst.
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