North America Concrete Floor Coatings Market Growth & Trends
The North America concrete floor coatings market size is expected to reach USD 973.35 million by 2030, registering a CAGR of 6.9% over the forecast period, according to a new study by Grand View Research, Inc. The industry is anticipated to grow significantly over the forecast period owing to the growing construction industry in the U.S. Increasing construction spending in the U.S. is anticipated to elevate the penetration of residential, commercial, and industrial structures. Rising penetration of buildings as well as non-building structures is anticipated to fuel the product demand over the forecast period. Therefore, the construction industry growth in the U.S. is expected to remain an important driver over the forecast period. Concrete floor coatings are used for indoor and outdoor high-temperature resistance and to protect commercial and residential floors from wear and tear.
These coatings are also used to protect the floors of non-building structures in the power, metals, and environmental protection sectors. The population growth, rapid urbanization, and rising disposable income in Mexico have played an important role in increasing the manufacturing in automotive, construction, energy, and personal care industries. In addition, low manufacturing costs and vicinity to the U.S. have resulted in the increased importance of Mexico as a manufacturing hub for the automobile, oil & gas, electronics, personal care, and pharmaceutical sectors. The automotive industry growth in Mexico, on account of increasing foreign direct investments by Nissan, Renault, Mazda, and Toyota, has played an important role in increasing the GDP growth in domestic the manufacturing sector.
Increasing penetration of sports stadiums due to the rising popularity of sports games, such as football, rugby, ice hockey, and tennis, is expected to promote the role of flooring solutions. The importance of flooring solutions is expected to boost the demand for concrete floor coatings for outdoor applications in sports stadiums. 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 coatings include solids, solvent-borne, and water-based epoxy coatings. Polyurethane products are moisture-cure, solvent-borne, solids, and water-based coatings. Other product types include polyuria-based coatings.
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North America Concrete Floor Coatings Market Report Highlights
In terms of value, the U.S.dominated the market on account of the high demand for green buildings owing to the promotion & adoption of health safety policies in the U.S. construction sector
Epoxy was estimated to be the largest type segment in 2021. It is a low-weight molecular polymer, used as a building block for the manufacturing of coatings
The emergence of flooring solutions, such as soft coverings and resilient floorings, is anticipated to remain a major market restraint. Resilient flooring is a mixture of colors, binders, and fillers
The most widely used resilient flooring includes cork, wood, rubber, vinyl, asphalt, and linoleum. These are waterproof, cost-effective, durable, and low-maintenance flooring solutions
In August 2020, Sherwin-Williams launched new polyurethane flooring solutions. They introduced the FasTop multi-system that is chemical & slip-resistant and extremely hard wearing with enhanced application properties
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