Concrete Floor Coatings Market Analysis by Product (Epoxy, Polyaspartic, Acrylic, Polyurethane, and Others); by Component (One Component, Two Component, Three Component, and Four Component); by Application (Indoor and Outdoor); and by End Use (Residential, Commercial, and Industrial) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

Global Concrete Floor Coatings Market Highlights Over 2023 - 2033

The global concrete floor coatings market is estimated to garner a revenue of ~USD 2 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 1 billion in the year 2022. The primary growth factor for concrete floor coatings is the rising construction industry across the world. According to a recent report, the construction industry in the United States generated approximately USD 2 trillion in revenue in 2019.

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Owing to rapid urbanization, there has been a significant rise in the construction of commercial and residential properties, which has prompted the need for concrete floor coatings for various purposes. Thus, the high involvement of the population in the construction sector is expected to fuel the utilization of concrete floor coatings in the construction industry in the forecast period. As of 2021, there were almost 10 million construction workers in the United States, approximately 8% of the total working population.

Global Concrete Floor Coatings Market: Growth Drivers and Challenges

Growth Drivers

• Burgeoning Population - The swelling population has increased the demand for the construction of housing and other buildings for day-to-day activities. The increased demand for construction is further anticipated to fuel the demand for glass alternative materials and expand the market size. As per the World Bank, the total population of the world stood at 7.76 billion in 2021, up from 7.09 billion in 2012.

• Rise in Residential Construction – The United States Census Bureau stated that there were around 142,153,010 housing units in the U.S. as of June 2021. Furthermore, the building permits in the same period were 1,736,982 units.

• Boom in the Real Estate Sector – As per recent estimates, the revenue of real estate companies worldwide stood at USD 9.5 billion in 2021.
• Increased Construction of Commercial Buildings – According to the Buildings Energy Consumption Survey (CBECS), there were approximately 5.9 million commercial buildings in the United States in 2018.Further, the number of commercial buildings increased by 6% since the CBECS was last conducted in 2012.
• High Number of Buildings Across the World – According to data from 2020, the United States had 350,000 industrial buildings and 240,000 military buildings.

Challenges

• Easy Availability of Other Substitutes
• Fluctuating Costs of Raw Materials
• Stringent Rules by Government

The concrete floor coatings market is segmented and analyzed for demand and supply by end use into residential, commercial, and industrial. Out of these, the residential segment is expected to garner the highest market share by 2033, owing to increased number of residential buildings across the globe. As per estimations, in 2020, there were almost 100 million single-family homes in the U.S. Furthermore, there were around 5 million multifamily residential buildings in the same period. Another factor for the growth of the residential segment is expected to be increased demand from the burgeoning population. In 2020, it was calculated that 90% of the buildings in the U.S. were single-family homes, with approximately 200 billion square feet.

Major Macro-Economic Indicators Impacting the Market Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Concrete Floor Coatings Market Regional Synopsis

Regionally, the global concrete floor coatings market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, owing to the rapid expansion of the construction industry and the presence of leading market key players. The building construction industry in Asia Pacific is expected to reach USD 3 million by 2024, with a robust CAGR of 7%. Further, the burgeoning population in the Asia Pacific is expected to increase the demand for non-residential building construction, which is further anticipated to boost the glass alternative materials market. Lately, it was calculated that Asia Pacific was the largest region in the global nonresidential building construction market, accounting for 43% of the total in 2021, with a steady 9% CAGR.

The global concrete floor coatings market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global concrete floor coatings market includes the following segments:

Top Featured Companies Dominating the Global Concrete Floor Coatings Market

• BASF
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis

• BEHR PROCESS CORPORATION
• DAW Group
• Nippon Paint Holdings Group
• PPG Industries, Inc.
• Sherwin-Williams Company
• RPM International Inc.
• Hempel A/S
• Koninklijke DSM N.V.
• BEHR PROCESS CORPORATION