Concrete Floor Coatings Market Trends

  • Report ID: 4406
  • Published Date: May 02, 2023
  • Report Format: PDF, PPT

Concrete Floor Coatings Market Trends

Growth Drivers

  • Rising Construction Activities – According to a report, the global construction output is expected to reach USD 12.9 trillion by the year 2024. In the Middle East and North Africa (MENA) region, the construction sector is projected to grow at a CAGR of 6.4% from 2021 to 2025, driven by large-scale infrastructure projects. The construction industry is a major driver of demand for concrete floor coatings.
  • Increasing Demand for Protective Coatings: The demand for protective coatings for concrete floors is driven by the need to protect surfaces from harsh conditions. For instance, the global demand for protective coatings for industrial applications is expected to reach 7.7 million metric tons by 2025, according to a report.
  • Growing Popularity of Decorative Coatings: Decorative coatings for concrete floors are becoming increasingly popular owing to their ability to enhance aesthetics. For instance, the global industry for decorative coatings is expected to reach nearly USD 12.6 billion by 2027, driven by the increasing demand for aesthetic enhancements in various end-use industries including construction, according to a report.
  • Increasing Demand for Eco-friendly Coatings: There is a growing demand for eco-friendly coatings in the construction industry owing to increasing environmental concerns. For instance, the industry for waterborne coatings is expected to reach USD 146.11 billion by 2025, driven by the increasing demand for eco-friendly coatings in various end-use industries including construction.
  • Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for concrete floor coatings. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.

Challenges

  • Environmental regulations: The use of certain chemicals in the manufacture of concrete floor coatings can hurt the environment. As a result, there is increasing pressure from regulatory bodies to limit the use of these chemicals. Compliance with environmental regulations can increase the cost of production and affect the profitability of manufacturers.
  • Fluctuating raw material prices
  • Intense competition

Concrete Floor Coatings Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~12%

Base Year Market Size (2022)

~ USD 15 Billion

Forecast Year Market Size (2035)

~ USD 45 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Rajrani Baghel


  • Report ID: 4406
  • Published Date: May 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for high-performance coatings is the major factor driving the market growth.

The market size of concrete floor coatings is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2023-2035.

The fluctuating raw material prices are estimated to be the growth-hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are AkzoNobel N.V., Sherwin-Williams Company, PPG Industries, Inc., BASF SE, RPM International Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity, and the new products being launched into the market by the company.

The market is segmented by product, application, and by region.

The residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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