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Concrete Floor Coatings Market - By Products (Epoxy, Polyaspartic, Acrylic, Polyurethane), By Component (One Component, Two Component, Three Component, Four Component), By Application (Indoor, Outdoor), By End-use Sector & Forecast, 2021-2027

  • Report ID: GMI1431
  • Published Date: Jul 2021
  • Report Format: PDF

Concrete Floor Coatings Market Size

Concrete Floor Coatings Market size was valued at USD 1.23 billion in 2020 and will showcase a growth rate of around 6% CAGR from 2021 to 2027 owing to the growing usage of coating materials in industrial flooring applications along with proliferating commercial space development across the globe. Continuous R&D investments and the development of new products will further support the product demand over the study timeframe.

Concrete coating is a covering, mainly in semi-liquid and liquid forms, applied to cure concretes to enhance the durability and aesthetics of the floors. Concrete floors are porous and allow soluble contaminants & water to penetrate the structure, leading to early degradation. The degradation of concrete flooring can be easily observed through laitance, efflorescence, and physical defects including spalling & cracking of the flooring. Floor coatings protect the structure from degradation by providing stain, abrasion, chemicals, and freeze/thaw protection.

Concrete Floor Coatings Market Outlook

Concrete floor coatings are widely used in indoor and outdoor applications. The major driving forces of the industry are rapid industrialization and urbanization mainly in Asia Pacific owing to substantial government investments in major industrial & commercial projects. For instance, as per the Asian Development Bank (ADB) report published in February 2017, Asia Pacific requires an investment of approximately USD 26 trillion in infrastructure development from 2016 to 2030, which is likely to have a positive impact on the concrete floor coatings market share.

Additionally, major manufacturers of floor coatings in the region are forming strategic alliances with small & medium players with a presence in Asia Pacific to widen their product portfolio and gain an edge over competitors. For instance, in July 2017, AkzoNobel acquired Flexcrete Technologies Ltd. and Disa Technologies to expand its industrial coating segment by offering a wide range of products for commercial infrastructure projects.

A positive outlook for the construction industry in North America and Europe will further support the concrete floor coatings market growth. A rapid growth in commercial development projects in various regions along with the establishment of new warehousing projects owing to the proliferating e-commerce sector is supporting the concrete floor coating solutions demand.

According to the Commercial Real Estate Development Organization, the U.S. commercial real estate development contributed around USD 1.14 trillion to the economy in 2018. Strong e-commerce activities have showcased higher warehousing demand and warehousing construction in the U.S. grew by around 12.6% in 2019 compared to 2018.

The ongoing COVID-19 pandemic has adversely impacted global industries and economic growth. Key geographic markets including the U.S. and several European economies have been hit the hardest by the pandemic. Furthermore, to counter the spread of the coronavirus, almost all countries around the world have instituted trade blockades and quarantines, which have adversely impacted the concrete floor coatings market in 2020.

Concrete floor coatings manufacturers are witnessing a large setback in sales due to the ongoing COVID-19 pandemic. For instance, in the 2020 annual report, Sika AG reported that its global business recorded an 11.4% decline in sales in FY2020 compared to FY2019. Furthermore, the leasing demand for office spaces in Europe declined by around 40% during the first three quarters of 2020.

Concrete Floor Coatings Market Analysis

Concrete Floor Coatings Market by Product

Based on products, the market has been categorized into epoxy, polyaspartic, acrylic, polyurethane, and others. Epoxy floor coatings dominated the market with nearly 65% volumetric shares in 2020. Epoxy coatings are widely available, environmental-friendly, and economical compared to other coating solutions. Furthermore, key manufacturers, such as Sika AG and PPG, have launched a wide range of epoxy coatings in 2020. Growing consumption of these coatings in several construction projects will subsequently boost the concrete floor coatings market segment over the forecast period.

The three component segment is expected to grow at a CAGR of 5.9% from 2021 to 2027. Growth is attributed to the proliferating industrialization across the globe. This component system is effectively used in heavy-duty applications and requires experts during application. Three component systems consist of three components that are mixed to form an effective flooring solution. These flooring coatings are highly consumed by heavy-duty industries such as chemical, manufacturing, car parks, pharmaceutical, etc. The rising manufacturing industry and increasing infrastructure investments will increase the demand for three component systems during the forecast period.

Concrete Floor Coatings Market by Application

Indoor application is expected to generate around USD 1.11 billion revenue by 2027. The demand for housing infrastructure is increasing in proportion to the population, accelerating the need for new residential construction projects. In developing economies, urbanization and industrialization have triggered the demand for effective construction materials & solutions to successfully initiate large construction projects.

For instance, in August 2017, China allowed the development of rental housing projects on a trial basis. This project will be initiated in 13 cities including major cities such as Shanghai, Guangzhou, and Beijing. Furthermore, the development of commercial spaces in East Europe and the U.S. along with the establishment of new automotive & pharmaceutical production houses across these regions will further support the segment growth.

Industrial end-use held a dominant with volumetric share of around 69% in 2020. Flooring coatings are majorly used in the industrial sector to enhance aesthetics and protect floors from corrosion & heavy surface wear. The proliferating industrialization in Asia Pacific along with FDI supportive policies by several emerging economies will support the concrete floor coatings market share. Furthermore, the availability of a wide range of product portfolios and the development of low VOC products will drive segment growth over the study timeframe.

Concrete Floor Coatings Market by Region

The North America will witness considerable demand over the forecast period at a CAGR of 5.4% from 2021 to 2027. Flooring solutions continue to witness considerable growth owing to the strong manufacturing sector in the region along with growing commercial & infrastructure development. A strong presence of several industries, such as automotive, electronics & electrical, and pharmaceutical, along with proliferating e-commerce and warehousing construction will support the concrete floor coatings product in the region.

Concrete Floor Coatings Market Share

Key players in the concrete floor coatings industry are:

  • Sika AG
  • PPG Industries, Inc
  • RPM International, Inc
  • Hempel A/S

The Sherwin-Williams Company, and others. Industry players are engaged in R&D investments, product development, mergers & acquisitions, and the expansion of distributor networks to enhance their market shares. For instance, in February 2021, Sika AG acquired Kreps LLC, a mortar manufacturer in Russia.

The concrete floor coatings market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2017 to 2027 for the following segments:

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By Products

  • Epoxy
  • Polyaspartic
  • Acrylic
  • Polyurethane
  • Others

By Component

  • One-component
  • Two-component
  • Three-component
  • Four-component

By Application

  • Indoor
  • Outdoor

By End-use Sector

  • Residential
  • Commercial
  • Industrial

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
    • South Korea
  • Latin America
    • Mexico
    • Brazil
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa
Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The concrete floor coatings industry share exceeded USD 1.23 billion in 2020 and is pegged to hit a growth rate of over 6% up to 2027 driven by the surging adoption of coating materials across industrial flooring applications.

The demand for epoxy floor coatings recorded close to 65% of the overall market volumetric share in 2020 and will grow through 2027.

The concrete floor coatings industry revenue from indoor applications will cross USD 1.11 billion revenue by 2027 due to the rising demand from housing.

The North America is pegged to record a CAGR of over 5.4% through 2027 owing to the presence of a robust manufacturing sector in the region.

Concrete Floor Coatings Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 15
  • Tables & Figures: 315
  • Countries covered: 21
  • Pages: 202
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