Concrete Floor Coatings Market: Overview
Concrete floor coatings are used widely to protect the concrete floors from wear and tear, resisting the harsh climatic conditions, and abrasions. They are used both in residential and commercial sectors. Since consumers and builders are getting aware of the benefits of concrete coatings, their market share is anticipated to growing at a rapid pace.
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Concrete Floor Coatings Market: Segmentation
The global concrete floor coatings market is segmented based on its product type, application, and region. Based on the product type, the global market is categorized into epoxy, polyaspartics, acrylic, and polyurethane. On the basis of application, the concrete floor coatings market is segmented into outdoor and indoor. The outdoor application segment is further sub-segmented into garages, pathways, patios, walkways, and driveways. The indoor application sub-segment is sub-segmented into residential floor coatings, floor coatings for offices and commercial spaces. On the basis of region, the market is segmented into Asia-Pacific, Europe, Latin America, North America, and the Middle East and Africa.
Concrete Floor Coatings Market: Growth Factors
The increase in the infrastructure industry and growing awareness regarding floor coatings have become significant factors for the growth of the global concrete floor coatings market. Concrete floor coatings are mainly used in indoor applications. Outdoor applications also are now using concrete floor coatings; for example, sports stadiums for games such as rugby, tennis, ice hockey, and football are promoting the use of concrete floor coatings. People around the world have started to understand the importance of flooring; hence the demand for concrete floor coatings has also increased. Epoxy coatings provide excellent adhesion, good insulating properties, and resistance to heat and chemicals. The low cost of epoxy coatings acts in favor toward the market growth. Recently, BestTech Coatings, with the help of a new technology, has introduced a new type of coating. Epoxy is used for a polished concrete floor in order to reach a grit level of 800 or 3000, a value higher than normal grit level. Over a period of time, concrete floor coatings begin to emit VOCs. VOCs have harmful effects on the human health, thus its usage has been restricted. Hence, this factor may act as a market restraint, negatively impacting the global market growth in future.
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Concrete Floor Coatings Market: Regional Analysis
In the US, the robust constructions in the residential and commercial structures are driving the market of concrete floor coatings. The manufacturing industries such as food and beverage, automotive, pharmaceutical, and oil and gas are promoting the demand of concrete floor coatings. Mexico is the fastest growing country in terms of market growth owing to factors such as urbanization, rising disposable income, and the population growth. The US and Canada are also using concrete floor coatings for the flooring of sports stadiums on account of the large sports games that are played. The growing demand for vehicles and the low manufacturing cost have also promoted new investments in the automotive industry in Mexico. Speedy development of industrialization in Asia Pacific is a factor that is likely to drive the market growth. Asia Pacific is also among the fastest-growing region in the global concrete floor coatings market.
Concrete Floor Coatings Market: Competitive Players
The key players in the concrete floor coatings market include BASF SE, Tennant Company, Behr Process Corporation, Pratt & Lambert Paints, PPG Industries Inc., Stonhard, Royal DSM N.V., The Sherwin-William Company, General Polymers, Deutsche Amphibolin-Werke von Robert Murjahn Stiftung & Company KG, Sika, DuPont, RPM International Inc., and The Valspar Corporation.
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Concrete Floor Coatings Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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