Concrete Floor Coating Market Growth & Trends
The global concrete floor coating market size is expected to reach USD 7.3 billion by 2030, according to a new study by Grand View Research, Inc., expanding at a CAGR of 5.3% from 2022 to 2030. Increasing investments in green buildings across the U.S. is a key factor fueling the growth of the market. Green buildings incorporate the use of eco-friendly and lightweight materials to maintain and improve the indoor air quality and efficiency of energy, water, and other resources. The concrete floor coatings are designed to be VOC-free and eco-friendly. This factor is expected to drive the market during the forecast period.
Powder coatings are gaining popularity since they have an advantage over other coatings, in terms of environmental regulations, given their solvent-free and VOC-free nature. This is likely to propel industry growth over the coming years. Epoxy, polyurethane, and polyaspartic are the majorly used products as concrete floor coatings in North America. Product types analyzed in the report include acrylic, epoxy, polyurethane, polyaspartic, and others. Epoxy concrete floor coatings include solids, solvent-borne, and water-based epoxy coatings. Polyurethane concrete floor coatings cover moisture-cure, solvent-borne, solids, and water-based coatings. Other product types include polyuria-based coatings.
Asia Pacific occupied the largest revenue share in 2021. A positive economic outlook and growth in the residential and non-residential construction sectors are expected to create growth opportunities for manufacturers, contractors, and service providers across Canada. However, one of the biggest threats is the uncertainty around the trade relationships with the U.S. Another potential risk is the Canadian high household debt, making households more vulnerable to an economic or interest rate shock.
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Concrete Floor Coating Market Report Highlights
Asia Pacific dominated the overall market in 2021 and is expected to expand at the fastest CAGR in terms of revenue over the forecast period
Epoxy was the largest product segment in 2021 and is anticipated to maintain its lead over the forecast period
The indoor segment was the largest application segment in 2021 with a revenue share of more than 65.0% and is anticipated to retain its lead over the forecast period
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