Concrete Floor Coatings Market Size, Share, Growth Report 2032

Industry Prospective:

The global Concrete Floor Coatings market was worth around USD 1,282.90 million in 2021 and is estimated to grow to about USD 1,789.13 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.70 percent over the forecast period. The report analyzes the Concrete Floor Coatings market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Concrete Floor Coatings market.

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Concrete Floor Coatings Market: Overview

concrete floor coatings create an effective flooring solution that is resistant to damage from multiple aspects like corrosion and leakage, and a rising focus on increasing the quality of construction is expected to further bolster the demand for concrete floor coatings market growth.

Increasing construction activity across the world has led to a substantial increase in demand for multiple construction requisites, and concrete floor coatings are one of them. The rising demand for durability and damage-free flooring solutions will also act as a major driver for concrete floor coatings market potential over the forecast period.

However, fluctuations in the pricing of raw materials used in creating these concrete floor coatings are expected to have a hampering effect on the global concrete floor coatings market through 2028.

COVID-19 Impact:

Restricted construction activity on a global scale in the COVID-19 pandemic led to a downfall in the concrete floor coatings market growth trend. Lockdown restrictions placed to contain the spread of coronavirus infections made it difficult to continue construction activity as the availability of construction materials and laborers was less during this period.

As restrictions are lifted the concrete floor coatings market is predicted to make a comeback at a steady pace through the forecast period owing to resuming construction activity. The demand for the concrete floor coatings market is expected to see good growth in the post-pandemic era and is expected to put concrete floor coatings manufacturers on the track of recovery from the losses of a pandemic.  

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Concrete Floor Coatings Market: Growth Drivers

Increasing demand from Construction Industry

Infrastructure development has substantially increased over the past few years on a global scale and this trend has propelled the demand for construction activity on a mega scale. This factor alone is driving over 70% of the market potential and is expected to be the same throughout the forecast period. Especially demand from emerging and developing economies will be high owing to rising infrastructure development and lucrative government initiatives to promote the construction sector.

Concrete Floor Coatings Market: Restraints

Fluctuating Raw Material Pricing

Raw materials used in making Concrete Floor Coatings follow a volatile trend in their pricing and this is expected to create uncertainty in the use of these coatings which in return will hinder the concrete floor coatings market growth in the long run. These raw materials are subject to price changes owing to changing economic landscape, currency rates, market potential, etc., and hence cannot be predicted so this is expected to be a major obstacle for concrete floor coatings companies as they cannot put a price on their products with certain fixed margins and could result in losses.  

Global Concrete Floor Coatings Market: Segmentation

The global Concrete Floor Coatings market is segregated based on fiber type, product type, application, and region.

By Product Type, the market is divided into Epoxy, Polyurethane, Polyaspartic, and Others. The epoxy segment holds a major market share and is expected to maintain a dominant stance over the forecast period. Its popularity and scope of application are majorly driven by its qualities of excellent adhesion, high heat, chemical resistance, etc. The low cost of epoxy in comparison to other alternatives is also expected to further bolster the dominance of this segment through 2028 in the global concrete floor coatings market landscape. 

Report Scope:

Recent Developments

• In May 2019– Rust-Oleum a known name in the coatings marketplace announced the launch of Metallic ConcreteFloor Paint that is designed for use in driveways and garage floors, etc. This has increased the company’s offering in the construction coating industry.

Regional Landscape

Asia Pacific region accounted for the largest market share and is expected to be the dominant market for concrete floor coatings over the forecast period as well. Rapid developments in infrastructure and increasing support from governments will be major factors driving concrete floor coatings market growth in this region. Increasing investments in the construction sector, a rising number of commercial and residential construction projects are other factors that govern the concrete floor coatings market potential through 2028. The most prominent markets in this region are anticipated to be India, China, and Japan owing to rising development activity and increasing investments in construction due to rapid industrialization and urbanization.   

The market for Concrete Floor Coatings in North America is expected to be the second-most lucrative market owing to the rising practice of renovations and remodeling and exception increase in residential construction activity are expected to govern the concrete floor coatings market in this region.

Competitive Landscape

Some of the main competitors dominating the global Concrete Floor Coatings market include - Sherwin-Williams Company Henkel AG & Co. KGaA PPG Pittsburgh Paints Behr Paint Company EPMAR Corporation Sika Corporation.

Global Concrete Floor Coatings market is segmented as follows:

By Product Type

• Epoxy
• Polyurethane
• Polyaspartic
• Other

By Application

• Residential
• Garages
• Patios
• Walkways
• Basements
• Commercial
• Restaurants & Breweries
• Supermarkets and Retail Stores
• Educational Institutions
• Other Commercial
• Industrial

By End user

• Do-It-Yourself (DIY)
• Professional

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa