Concrete Floor Coating Market Growth & Trends
The global concrete floor coating market size is expected to reach USD 6.83 billion by 2030, expanding at 5.3% CAGR from 2023 to 2030, as per the new report by Grand View Research, Inc. 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
Europe is expected to witness the fastest CAGR of 7.1% from 2023 to 2030, due to rising demand for indoor and outdoor concrete floor coatings in the region
The polyaspartics end-use segment is anticipated to register the fastest CAGR of 7.0% from 2023 to 2030. Due to a number of factors, including their high resistance to abrasion, chemicals, and UV radiation, properties which make them a preferred choice for a wide range of industrial and commercial applications
Outdoor is expected to emerge as the fastest-growing application segment with a CAGR of 5.7% from 2023 to 2030, due to growing demand for concrete floor coatings
In 2020, global materials manufacturer BASF introduced MasterTop XTC, a new product intended for use in the construction industry. Designed to provide a smooth and durable floor surface, MasterTop XTC features exceptional resistance to abrasion, as well as ease of maintenance
In 2020, PPG Industries unveiled PPG Flooring Coatings, a new line of coating systems designed to offer exceptional performance in a variety of work environments. The product range includes topcoats, primers, and bases, and has been specifically formulated to meet the high demands of industrial flooring projects
List of Key Players in the Concrete Floor Coating Market
Trucrete Surfacing Systems
The Sherwin-Williams Company
North American Coating Solutions
BASF SE
Vanguard Concrete Coating
Tennant Coatings
Jotun
Axalta Coating Systems
Elite Crete Systems
Stonhard
PPG Pittsburgh Paints
Key Resin Company
BEHR Process Corp.
Epmar Corp.
Pratt & Lambert.
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