New York, NY, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Concrete Floor Coatings Market by Type (Epoxy, Polyaspartics, Acrylic, and Polyurethane) and by Application (Outdoor and Indoor): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global concrete floor coatings market was valued at USD 946.43 million in 2017 and is expected to reach USD 1500 million in 2024, growing at a CAGR of 6.8% between 2018 and 2024.
Concrete floor coatings provide a durable and reliable surface for industrial and commercial flooring. Concrete floor coatings are generally applied over concrete floors for durable surface and high performance; the smoothness provided by the concrete floor coatings can last for a longer period. For maintaining the floor in good condition, concrete floor coatings are used rapidly. Rapid economic growth in emerging economies is the key reason behind the expanding construction industry which is expected to propel the demand for concrete floor coatings in the years to come.
Browse through 55 Tables & 28 Figures spread over 110 Pages and in-depth TOC on “Global Concrete Floor Coatings Market: Products, Application, Size, Share Analysis and Forecast, 2017 – 2024”.
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The concrete floor coatings market is driven by various factors such as increasing awareness regarding the benefits of concrete floor coatings and the rapid growth in the industrialization and infrastructure is estimated to drive the concrete floor coatings market over the forecast period. However, high prices of raw materials, and energy and economic downturn in developed regions are expected to impede the growth of the market. Nevertheless, increase in commercial, residential, and industrial constructions will open major opportunities for the global concrete floor coatings during the projected years.
The concrete floor coatings market is segmented into type, application, and region. In terms of the key type, the market is divided into epoxy, polyaspartics, acrylic, and polyurethane. Epoxy segment held the largest market share in 2017. Epoxy coatings are generally used in residential constructions such as staircase and parking. Epoxies have some special characteristics including low cost of the product as compared to counterparts and superior resistance against impact, chemical, and abrasion thus making it suitable for application in various sectors.
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Polyaspartics coatings market share is expected to exhibit a growth of around 6.8%. Polyaspartics coatings offer excellent resistance against UV radiations along with decent features, hence it is mostly preferred for outdoor applications such as runways and for an outdoor sports ground. Development in bio-based polyurethane for coating applications is anticipated to propel the demand for polyurethane concrete floor coatings. Furthermore, government regulations for environment safety will show a positive impact on the polyurethane demand over the projected years. Based on the applications, the global concrete floor coatings market is categorized into outdoor and indoor.
The Asia Pacific is estimated to be the fastest growing region by 2024. Rising construction industry in emerging economies such as India and China will positively impact the concrete floor coatings market share within the years to come. Rising lifestyle dynamics of consumers along with increasing population are major factors propelling the demand of concrete floor coatings market in the years to come. Increasing population can propel the demand for outdoor and indoor application in many industries.
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Europe is the third largest market for concrete floor coatings after North America and Asia Pacific. Europe is expected to show moderate growth rate over the projected time period, as it is a mature market than Asia Pacific, Latin America, and the Middle East and Africa. Remodeling and renovation activities in the European countries are anticipated to propel the market within the forecast period.
Latin America and Africa anticipate being a potential market for concrete floor coatings as it is less developed region than others. Many industries are investing in the unexplored regions such as Latin America and Africa as it is a potential market for various industries.
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The key manufacturers in the concrete floor coatings market are Tennant Company, PPG Industries Inc., Behr Process Corporation, BASF SE, Pratt & Lambert Paints, Stonhard, The Sherwin-William Company, DuPont, General Polymers, and Royal DSM N.V., among others.
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This report segments the concrete floor coatings market as follows:
Concrete Floor Coatings Market: Type Analysis
- Epoxy
- Polyaspartics
- Acrylic
- Polyurethane
Concrete Floor Coatings Market: Application Analysis
- Outdoor
- Indoor
Concrete Floor Coatings Market: Region Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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