Concrete Floor Coatings Market Analysis

Concrete Floor Coatings Market Analysis

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.
 

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.
 

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.