Global Concrete Floor Coatings Market to Grow at a CAGR of Nearly 6% by 2031: Fact.MR

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The global concrete floor coatings market is expected to grow at a close to 6% CAGR (value) through 2031, according to Fact.MR. As the construction sector recovers from the impact of the COVID-19 epidemic in 2020, key businesses are anticipating a boost in demand for concrete floor coatings in the near future. With an increase in demand for both indoor and outdoor applications, concrete floor coating manufacturers have seen continuous growth in demand.

The United States is the world's second-largest market of concrete floor coatings, North America, is in the spotlight for suppliers and manufacturers. The construction industry's exponential growth, as well as several government laws and initiatives for this sector, are expected to push growth in the United States over the forecast period.

While demand for epoxy-based coatings has risen, sales of concrete floor coatings have increased in recent years due to the expansion of the construction and building industry.

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Building America Program has been a source of advancements in the residential building business in America, according to the US Department of Energy (DOE).

According to DOE, the Building Technologies Office in America awarded US$ 26.3 million to 40 competitively selected projects, led by 29 organizations, to pursue innovations that can advance BTO's Advanced Building Construction (ABC) goals with energy-efficient technologies and practices activities on February 10, 2020.

Such activities are assisting the building and construction industry's constant growth, which is fueling sales of concrete floor coatings.

"Steady growth of the building & construction industry has been fueling the sales of concrete floor coatings, especially epoxy-based coatings, since the past decade," says a Fact.MR analyst.

Key Takeaways:

• Epoxy-based concrete floor coatings are expected to be in great demand.
• Asia Pacific is expected to lead the worldwide concrete floor coatings market, with India and China as its epicenters.
• In the North American concrete floor coatings market, the United States continues to be profitable.
• Germany will be the center of attention in Europe's market.
• For concrete floor coating manufacturers, Japan, Mexico, the United Kingdom, Canada, and a few other countries will emerge as heavyweights.
• Demand from both the indoor and outdoor segments is expected to drive market expansion.
• Polyaspartic concrete floor coatings to also gain significant traction.

Growth Drivers:

• Rising building, construction, and renovation projects to spur the demand for concrete floor coatings.
• New innovations by top manufacturers with rise in investments on various research & development (R&D) activities to propel the market growth

Key Restraints:

• Complex and costly installation process to hinder the concrete floor coatings demand.
• Tendency of cracking and chipping on high impact areas with time-consuming coating process can hamper market growth.

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Competitive Landscape:

The global concrete floor coatings market provides key players with a fiercely competitive environment.

Key players are investing substantially and focusing on launching higher-quality items in order to maintain their position in the face of fierce competition.

For example,

• In 2018, Daw SE introduced a new line of concrete floor coatings and related products, including the DISBON 404 Acrylic Floor Sealer, Dispobox 442 Garage Sealer, and others.
• In 2020, PPG Industries, Inc. introduced a new broad variety of concrete floor coatings, including PPG General Purpose Floor Coatings, PPG Wear-Resistant Floor Coatings, and others.
• Valspar Corporation introduced a new comprehensive variety of floor coatings a few years ago, including Valspar® Epoxy-based Two Component Garage Floor Coatings, Valspar ® Indoor and Outdoor Floor Coatings, and others.

More Valuable Insights on Concrete Floor Coatings Market

Fact MR provides an unbiased analysis of the concrete floor coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global concrete floor coatings market with a detailed segmentation on the basis of:

Application

• Indoor
• Outdoor

Product

• Epoxy-based
• Polyaspartic
• Other Products

Region

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania

Key Questions Covered in the Concrete Floor Coatings Market Report 

• The report offers insight into concrete floor coatings market demand outlook for 2021-2031
• The market study also highlights projected sales growth for concrete floor coatings market between 2021 and 2031
• Concrete floor coatings market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 
• Concrete floor coatings market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others 

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About Fact.MR

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SOURCE Fact.MR