The global concrete floor coatings market was estimated to reach a valuation of USD 4.95 Billion in the year 2022. With a steady CAGR of 5.4% from 2023 to 2033, this market is expected to reach USD 5.16 Billion by 2023 and USD 8.74 Billion by 2033.
According to Future Market Insights, the primary factor driving the industry's growth is the rise in financing for green building projects throughout the globe. Green buildings employ eco-friendly and lightweight materials to increase and maintain the efficacy of resources in terms of water, energy, and other resources. The ecologically safe and VOC-free concrete floor coatings are long-lasting. This aspect is predicted to strengthen the market throughout the course of the forecast year. The growth of the market is attributable to the rise of businesses, infrastructure, as well as academic institutions, notably in the North American and Asia Pacific area.
Powder-based coatings are gaining popularity in the global market for they are ecologically friendly and do not include solvents and hence do not emit Volatile Organic Compounds (VOCs). Thus, these coatings do not contribute to air pollution. Additionally, powder coatings are becoming ever more popular as they outperform other coatings regarding environmental laws due to their lack of solvents and VOCs. The market will probably increase as a result in the next few years.
The three main materials that are most frequently utilized as concrete floor coatings worldwide are epoxy, polyaspartic, and polyurethane. These in turn include other product kinds, including epoxy, acrylic, polyaspartic, and polyurethane. Epoxy coatings for concrete floors might be water-based, solvent-borne, or solid-based. Concrete floor coverings made of polyurethane might be water-based, solvent-borne, moisture-cure, solids, or solids-based. Coatings made with polyuria are among the other product categories. Such factors and features are expected to accelerate revenues in this global market from 2023 to 2033.
A recent innovation in this market is the use of 3D floor coatings. Such coatings have caught the eyes of various designers and the general public and are being used to coat swimming pools, bedrooms, lobbies, living rooms, and bathrooms. These coatings have distinct features which make them different from the other materials as well. Another ongoing trend is the use of metallic epoxy flooring, which is gaining traction in various residential and business settings. With the high performance of epoxy resins and premium metallic colors, it is now feasible to create various designs and effects on the floor by combining various colors and patterns. Such factors are expected to garner huge demand in the next few years.
This industry has now been further divided into applications for indoor and outdoors usage. With a revenue share of more than 66%, the indoor application segment was the dominant segment in 2022. Over the projection period, the outdoor application category is predicted to have the quickest CAGR. The prominence of sports like rugby, ice hockey, football, and tennis is predicted to increase the penetration of sports stadiums in the United States and Canada, which will strengthen the role of concrete floor coatings solutions.
Companies are competing on a larger range of applications and supplying product quality. For example, Tennant Company finalized the transfer of Tennant Coatings, its coatings division, to The Sherwin-Williams Company in February 2021. Newcomers to the market, such as Trucrete Surfacing Systems as well as Vanguard Concrete Coating, compete with certain other small-scale businesses based on their offerings and prices while also serving their local markets. Due to their devoted service and adaptability, local gamers are anticipated to expand throughout the projection period.
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In concrete floor coatings, various types of products and systems are used to cover the surface of concrete to protect it and improve its aesthetic look. It also helps in reduction of cracking of concrete and thereby maintenance cost. Method of application and selection of coatings depend on the application of the floor. Different floor applications uses different types of coatings.
In concrete floor coatings, the surface undergoes processes such as pre-treatment, priming and coating finishing. Concrete floor coatings can withstand high chemical & mechanical stresses, also they increase the concrete’s surface strength and gives excellent texture to the surface. It also poses properties such as excellent dustproofing, abrasion resistance, glossy appearance, and hardening.
Concrete floor coatings can be classified as single component, double component, triple component and others. Concrete floor coatings are available in diverse options of colors and styles and can widely be used in different applications in hotels, garages, institutions, manufacturing facilities, administrative buildings and others.
Epoxies and polyurethanes are the most commonly used polymers for concrete floor coatings. Urethanes are used for thin film to high build coatings and have excellent elastomeric properties coupled with its low permeability. Most of the urethanes used in concrete floor coatings are mixed with low VOC content solvents. Epoxy used in concrete floor coatings typically contain no solvent and is completely non-volatile.
Growing population and rapid industrialization has created the need for infrastructure. To satisfy the needs governments in various countries across the globe has encouraged to invest in construction and infrastructural activities which is expected to drive the global concrete floor coatings market.
Increasing use of epoxy coatings on account of its non-volatile and high abrasive properties is anticipated to fuel the growth of concrete floor coatings market in foreseeable future. Wide range of applications of concrete floor coatings in residential sector including indoor and outdoor has helped the product to ensure long-term supply.
Increasing research and development activities for advancement in the product for its efficient use is projected to bolster the demand for concrete floor coatings. Government regulations on use of VOC solvent in concrete floor coatings may hinder the growth of the market.
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Asia-Pacific accounts for the prominent share of concrete floor coatings consumption and is expected to continue its dominance over forecast period with regards to rapid change in infrastructure and upcoming investments in countries such as China, India and Indonesia. Middle-East countries including Saudi Arabia and UAE accounts for the significant share in global concrete floor coatings market.
Increasing renovation and remodeling practices in the residential segment are the major factors for the demand growth in North America and European countries. Africa will show slow comparatively slow growth because of lack of technological advancements in the region.
Examples of some of the market participants operating in the global Concrete Floor Coatings market are:
The Concrete Floor Coatings market research report presents a comprehensive assessment of the Concrete Floor Coatings market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Concrete Floor Coatings market research report provides analysis and information according to Concrete Floor Coatings market segments such as geographies, application and industry.
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The Concrete Floor Coatings Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Concrete Floor Coatings market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Concrete Floor Coatings market segments and geographies.
The global concrete floor coatings market can be segmented on the basis of its product, component and its application.
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Concrete Floor Coatings Market
