Concrete Floor Coatings Market - Global Industry Analysis

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Concrete floor coating is generally used to avoid the corrosion on the concrete floors and it is also used to offer resistance against harsh climatic conditions and abrasion. Owing to its beneficial properties the concrete floor coatings are widely used for commercial, industrial, and residential sectors.

The rapid growth in the industrialization and infrastructure is expected to drive the global concrete floor coatings market. Moreover, rising awareness regarding floor coatings is estimated to drive the concrete floor coatings market during the years to come. However, the economic downturn in developed regions and high prices of raw materials and energy is anticipated to impede the growth of the market. Nevertheless, increase in commercial, residential, and industrial constructions are likely to set new wings to the market of the global concrete floor coatings within the years to come. 

The concrete floor coatings market is bifurcated into type, application, and region. In terms of type, the market is categorized into epoxy, polyaspartics, acrylic, and polyurethane. Among them, epoxy concrete floor coatings segment accounted for the largest market share (around 50%) in 2017. Epoxy concrete floor coatings have widespread applications in electrical & electronic, pharmaceutical, and in public infrastructure which include airports, railway stations, and hospitals. On the basis of application, concrete floor coatings market is segmented into indoor and outdoor. The indoor application accounted for the largest market share in 2017. Rising commercial, residential, and other construction projects such as the sports construction are anticipated to fuel the concrete floor coatings market during the forecast period. 

North America was the largest market for the global concrete floor coatings market in 2017 followed by the Asia Pacific and Europe. This region accounted around 31% market share in 2017. Rising remodeling and renovation activities in the indoor construction especially in the residential construction sector are expected to enhance the North America concrete floor coatings market during the projected period. The Asia Pacific is projected to be the fastest growing region. Expanding the construction sector in the emerging economies such as China and India is anticipated to exhibit the fastest growth rate of concrete floor coatings market over the forecast period. Europe is anticipated to witness moderate growth rate in the coming years. The Middle East & Africa and Latin America are expected to witness significant growth over the forecast period.

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.