Concrete Floor Coatings Market was at US$ 5.8 Billion in 2021 and is growing to approx US$ 8.3 Billion by 2030, with a CAGR growth of 6.5% between 2022 - 2030.

SANDY, UTAH, UNITED STATES, September 18, 2022 /EINPresswire.com/ -- According to the study, The Global Concrete Floor Coatings Market was estimated at USD 5.8 Billion in 2021 and is anticipated to reach around USD 8.3 Billion by 2030, growing at a CAGR of roughly 6.5% between 2022 and 2030.

Concrete Floor Coatings Market: Overview

Concrete floor coatings are also identified as protective coatings. Generally, concrete floor coatings are exhibited in a liquid and semi-solid form which is applied to cure concrete and enhances the durability and aesthetic looks of floorings. Concrete floor coatings possess various properties such as it is resistant to water, chemical, flame, UV, colour, and gloss. Owing to these properties it has a wide range of applications in various end-use industries that including automotive, textile, residential, commercial, medical, and others.

Concrete Floor Coatings Market: Growth Drivers

Increasing demand from the building & construction sector acts as one of the critical factors responsible for the growth of the global concrete floor coatings market. Concrete floor coatings are preferred over conventional coatings material due to their low volatile organic content and water retention capacity.

Concrete floor coatings are used extensively in the construction sector as it is resistant to corrosion, water, flame, chemical spill, and others. For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025. In response to this, polysiloxane-based concrete floor coatings are used predominantly in the building infrastructure for protecting them against corrosion, acid rains, chemical spills, and others. These factors are anticipated to increase the demand for concrete floor coatings in the construction sector.

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Key Insights:

A) As per the analysis shared by our research analyst, the Concrete Floor Coatings Market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2022-2030).
B) In terms of revenue, the Concrete Floor Coatings Market size was valued at around USD 5.8 Billion in 2021 and is projected to reach USD 8.3 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The lack of skilled labour is restricting the expansion of the global concrete floor coatings market during the forecast period. Furthermore, the high price of concrete coatings restraining the overall growth of the market. In addition, high production costs and the requirement for advanced machinery will slow down the market.
D)The proliferating growth of the automotive sector has witnessed the significant growth of the concrete floor coatings market.
E) The growing adoption of automotive displays, human-machine interface, and automated systems are being embedded in luxurious cars by several key manufacturer players including TATA Motors, Mahindra, Hyundai, Tesla, Ford, Audi, and others.
F) Over the forecast period, concrete floor coatings are new to the market and gaining an edge over completion may be a challenging factor.

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Regional Landscape

Asia-Pacific is the dominant region in the concrete floor coatings market and accounted for 54% of the total market share during the forecast period.

The utilization of concrete floor coatings has increased in the sectors such as building & construction, automotive, electronics, and others are key market trends in the Asia-Pacific region.

The building & construction sector is one of the booming sectors in the Asia-Pacific region. For instance, according to an article published by Invest India in August 2022, the construction Industry in India is expected to reach $1.4 Tn by 2025 due to a robust increase in the urban population which will significantly enhance the demand for concrete floor coatings where it gives protection to infrastructure during the uncertain weather conditions. It is also used for protecting the windows & doors, and floor slab surface from rain, moisture, UV radiation, and others.

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Key Players

BASF SE
The Sherwin-Williams Company
Akzo Nobel N.V.
ArmorPoxy
RPM International Inc.
Axalta Coating Systems, Ltd.
Sika AG; PPG Industries, Inc.
3M
The Lubrizol Corporation
Trucrete Surfacing Systems
BEHR Process Corporation,
PPG Industries
Tennant Coatings

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The Concrete Floor Coatings Market is segmented as follows:

By Product

Epoxy
Polyaspartic
Acrylic
Polyurethane

By Application

Indoor
Outdoor

By End User

Residential
Commercial
Industrial
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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