Newark, Dec. 20, 2022 (GLOBE NEWSWIRE) -- The concrete floor coatings market was estimated at around USD 4.53 billion in 2021, growing at a CAGR of nearly 4% during 2022-2030. The market is projected to reach approximately USD 6.49 billion by 2030.
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To improve the tensile strength and beauty of the flooring, concrete coating is a covering that is often applied to cure concrete in semi-liquid and liquid form. Because they are porous, concrete floors let soluble pollutants and water into the building, which accelerates deterioration. Laitance, efflorescence, and physical flaws like spalling and cracking of the flooring are all clear indicators of the degrading state of concrete floors. By offering stain, abrasion, chemical, and freeze/thaw protection, floor coatings guard against structural damage. The industry's expansion is mostly attributable to the rising sums invested in green structures all across the United States. Energy, water, and other resource efficiency are all improved and maintained in green buildings through the use of eco-friendly, lightweight materials.
Growth Factors
The increase in funding for green construction projects across the U.S. is primarily responsible for the industry's expansion. Energy, water, and other resource efficiency are all improved and maintained in green buildings through the use of eco-friendly, lightweight materials. The VOC-free and environmentally friendly concrete floor coatings are built to last. Throughout the forecast period, this factor is anticipated to boost the market. Over the upcoming years, the world is expected to have a growth that is inclined. The expansion is attributed to the expansion of businesses, academic institutions, and infrastructure, particularly in the Asia Pacific region.
The global market for concrete floor coatings is expanding as a result of increasing industrial activity and rapid urbanization. Manufacturing firms are becoming more prevalent in the markets for concrete floor coatings in China and India. Global demand for concrete floor coverings is being driven by an increase in the number of industrial and commercial buildings.
Major market participants in the global market for concrete floor coatings are growing their companies by working with small- and medium-sized producers. The global industry is also being stimulated by the growing knowledge of the protection provided by concrete floor coatings against thermal shocks and chemical attacks. Concrete floor coatings' advantages are becoming more and more known among manufacturers and consumers. The market is therefore anticipated to grow significantly during the following few years. Safety and durability are the two key considerations to take into account when installing flooring systems in factories, plants, and other industrial settings. Flooring that is very durable, abrasion resistant, and reliable is needed in manufacturing facilities. The surface must be safe for workers to use, hygienic, and compliant with all laws and regulations. Resinous floor coatings like epoxy, polyurethane, and others can provide a durable, safe, and hygienic flooring option when applied to properly prepared concrete slabs. Rising government investment in public infrastructure and a number of upcoming housing developments are driving the demand for concrete floor coating.
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Segmental Overview
The market for concrete floor coatings market is segmented into the product, and application. According to the product, the epoxy segment is expected to increase at the quickest rate. This is due to the product's excellent electrical insulation, high adhesion, and great heat and chemical resistance. Additionally, the low price of epoxy concrete floor coatings compared to its competitors is probably going to help the industry flourish.
Given that polyaspartic products can function at a variety of temperatures, this market is expected to grow at the fastest CAGR. The industry has been further divided based on product into epoxy, polyurethane, acrylic, polyaspartic, and other categories.
The indoor segment is anticipated to hold major share in the concrete floor coatings market by application during the forecast period. The requirement for new residential construction projects is accelerating as the demand for housing infrastructure rises proportionately to the population. Urbanization and industrialization have increased the need for efficient building supplies and solutions in developing countries in order to start major construction projects.
Regional Overview
The biggest market share of the total market was held by the Asia-Pacific in the concrete floor coatings market. The growing number of residential and commercial construction projects as well as the region's infrastructure development activities are other factors driving the market for concrete floor coatings in the Asia Pacific. Manufacturing businesses can find attractive prospects in growing nations like China and India. Serving the growing demand from the expanding building and construction industry allows manufacturers in the concrete floor coatings market to reap significant financial rewards.
Over the projection period, North America will experience a significant increase in demand. Flooring solutions continue to experience significant growth as a result of the region's robust manufacturing sector and expanding commercial & infrastructure development. The demand for concrete floor coatings in the area will be supported by a number of industries, including automotive, electronics & electrical, pharmaceutical, as well as booming e-commerce and warehousing projects.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Concrete floor coatings Market CAGR | 4% |
| Segments Covered | By Product By Application |
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List of the prominent players in the Global Concrete floor coatings market:
• BASF SE
• Trucrete Surfacing Systems
• The Sherwin-Williams Company
• North American Coating Solution
• Jotun
• Axalta Coating Systems
• Elite Crete Systems
• Stonhard
• Vanguard Concrete Coating
• Tennant Coatings
The global Concrete floor coatings market is segmented as follows:
By Product
• Epoxy
• Polyaspartic
• Acrylic
• Polyurethane
• Others
By Application
• Indoor
• Outdoor
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The global Concrete Floor Coatings market is analyzed on the basis of value (USD million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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