Concrete Floor Coatings Market size is expected to cross USD 45 Billion by the end of 2035, growing at a CAGR of 12% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of concrete floor coatings USD 15 Billion. The market growth is mainly owing to the growing demand for high-performance coatings that can withstand harsh conditions and the increasing popularity of decorative coatings that can improve the aesthetics of concrete floors, and the increasing growth of the construction industry. The US construction industry was noted to see growth in 2021, with a projected increase of 7.4% in spending on construction, according to a report. market refers to the industry that produces and supplies coatings or sealants for concrete floors. These coatings can be used for a variety of purposes, such as protecting concrete surfaces from abrasion, chemicals, and moisture, as well as enhancing their appearance.
In addition to this, in Asia Pacific, the construction industry is projected to grow by 5.6% in the year 2023. Other factors that are fueling market growth include the rising construction activities in both residential and commercial sectors, as well as the need to repair and refurbish existing concrete surfaces. Rising construction activities can refer to the increasing amount of construction projects taking place in a certain region or country. Overall, the market is expected to continue growing in the coming years, driven by the increasing demand for high-performance and decorative coatings, as well as the ongoing investments in infrastructure development around the world.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~12% |
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Base Year Market Size (2022) |
~ USD 15 Billion |
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Forecast Year Market Size (2035) |
~ USD 45 Billion |
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Regional Scope |
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By Application (Residential, Non-Residential)
The global concrete floor coatings market is segmented and analyzed for demand and supply by application into residential, and non-residential. Out of the two types of applications, the residential segment is estimated to gain the largest market share of about ~60% in the year 2035. The growth of the segment can be accredited to the growing demand for decorative coatings. The residential sector is a major end-user of decorative concrete floor coatings. Decorative coatings are increasingly popular owing to their ability to enhance aesthetics. For instance, according to a report, the demand for decorative concrete flooring in the US is projected to grow 6.2% annually to reach 371 million square feet in 2024. Concrete floor coatings are a popular choice for residential flooring owing to their durability and low-maintenance properties. There is a growing demand for eco-friendly coatings in the residential sector owing to increasing environmental concerns. Consumers are increasingly looking for sustainable options that are less harmful to the environment.
By Product (Epoxy, Polyurethanes, Polyaspartic)
The global market for concrete floor coatings is also segmented and analyzed for demand and supply by-products into epoxy, polyurethanes, and polyaspartic. Amongst these three segments, the epoxy segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to its high performance and durability. Epoxy coatings are known for their high performance and durability, making them a popular choice for industrial and commercial applications. Epoxy coatings are versatile and can be used in a wide range of applications, from industrial flooring to decorative coatings for residential floors. This versatility has made epoxy coatings a popular choice among end-users. Epoxy coatings are easy to apply and can be used on a variety of surfaces, including concrete, metal, and wood. The ease of application has led to increased adoption of epoxy coatings in various applications. Epoxy coatings are a cost-effective solution for improving the durability and aesthetics of floors. The low cost and long lifespan of epoxy coatings make them an attractive option for end-users. All these factors are estimated to add to the segmental growth notably over the forecast period.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Application |
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APAC Market Statistics
The concrete floor coatings in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about 35% by the end of 2035. The regional growth can majorly be attributed to the growing construction industry. The Asia Pacific region is witnessing significant growth in the construction industry, driven by factors such as rapid urbanization, population growth, and increasing infrastructure development. According to a report, the Asia Pacific construction industry is expected to account for nearly USD 5.36 trillion by 2025. The Asia Pacific region is witnessing significant industrialization, driven by factors such as rising demand for consumer goods, increasing investments in manufacturing industries, and favorable government policies. The increasing industrialization is leading to the growth of the concrete floor coatings market, as industrial floors require coatings for enhanced durability and safety. The Asia Pacific region is witnessing increasing demand for decorative concrete floor coatings, driven by the rising middle-class population and increasing disposable incomes. There is an increasing emphasis on green building practices in the Asia Pacific region, driven by factors such as increasing environmental concerns, government regulations, and cost savings. The adoption of green building practices is leading to the growth of the market, as eco-friendly coatings are increasingly preferred.
North American Market Forecast
The concrete floor coatings in the North American region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the growing construction industry. The North American construction industry is witnessing significant growth, driven by factors such as population growth, increasing infrastructure development, and rising investments in the real estate sector. The North American region is witnessing increasing demand for eco-friendly coatings, driven by factors such as environmental concerns, government regulations, and increasing awareness among end-users. The North American region is witnessing significant industrialization, driven by factors such as increasing demand for consumer goods and rising investments in the manufacturing industry. The North American region is witnessing rising demand for decorative concrete floor coatings, driven by factors such as increasing disposable incomes, rising demand for aesthetically appealing interiors, and growing awareness about the benefits of decorative coatings.
Europe Market Forecast
Further, the concrete floor coatings in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing construction activities. The Europe region is witnessing increasing construction activities, driven by factors such as population growth, urbanization, and increasing investments in the real estate sector. The Europe region is witnessing growing demand for green coatings, driven by factors such as increasing environmental concerns, government regulations, and growing awareness among end-users. The Europe region is witnessing increasing demand for industrial coatings, driven by factors such as increasing industrialization, rising demand for high-performance coatings, and growing investments in the manufacturing sector. The Europe region is witnessing increasing demand for decorative concrete floor coatings, driven by factors such as rising disposable incomes, growing demand for aesthetically appealing interiors, and increasing awareness about the benefits of decorative coatings.
Author Credits: Smruti Ranjan, Rajrani Baghel
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