U.S. Concrete Floor Coatings Market Growth & Trends
The U.S. concrete floor coatings market size is anticipated to reach USD 474.02 million by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 4.9% from 2022 to 2030. The increasing demand for green buildings is expected to drive growth. Lightweight and ecofriendly materials are utilized in green buildings to maintain and improve the indoor air quality and efficiency of energy, water, and other resources. Since an ascending number of concrete floor coatings are being designed to be VOC-free and environment-friendly, their popularity is anticipated to increase and act as a driver for the overall market.
In addition, increasing spending on the commercial sector in the U.S. is expected to fuel market growth. For instance, in March 2020, the U.S. government announced an investment worth USD 2.0 trillion as a part of the COVID-19 response for the development of infrastructure including hospital buildings, roads, and other infrastructure. Epoxy concrete floor coatings are projected to grow at a CAGR of over 4.6% from 2022 to 2030. These types of coating provide superior toughness and improved durability, which is expected to drive their adoption in the flooring industry. These coatings are either water-based or solvent-based.
Epoxy floor coating is widely preferred for garage application owing to its reasonable price, increased resilience to stains & tire marks, ability to cover minor imperfections such as flaws and spider cracks on the concrete, and ability to improve the floor appearance. As normal traffic on bare concrete can boost up the dust that tends to further collect on tool benches, storage items, cars, and other items, the demand for anti-dusting products such as concrete floor coatings is increasing in the country.
Moreover, government initiatives to provide affordable housing units are expected to fuel the growth of the construction industry in residential. This in turn is further projected to create positive demand for concrete floor coatings in the coming years. For instance, the Mayor of Atlanta pledged to invest USD 1.0 billion to increase housing to construct and preserve 20,000 units of affordable housing within the city of Atlanta by 2026.
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U.S. Concrete Floor Coatings Market Report Highlights
South division dominated the market in 2021 both in terms of revenue and volume
The epoxy coating was the largest product segment with a market share of more than 40.0% in 2021. Properties such as toughness improved dimensional stability, and superior resistance to abrasion and UV light are propelling the product demand in residential, commercial, and industrial application
The commercial segment is potentially fueling the market growth owing to its rising product demand from restaurants & breweries, supermarkets & retail stores, and educational institutions, and other commercial structures
In September 2020, PPG Industries announced to launch of PPG Flooring coatings, which is a comprehensive line of coating systems that comprise prime coats, base coats, and topcoats. This coating line is designed to provide optimum performance based on the specific work environment i.e., general purpose, wear-resistant, chemical resistant, and urethane cement with additional customization options
In May 2022, TSR Concrete Coatings merged with PolyPro Concrete Coatings and Ninja Coatings to create a National Concrete Coatings Platform for leading home improvement brands operational in residential concrete coatings
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