Press release
North America Concrete Floor Coatings Market To Reach US$546.8 Mn By 2023
The North America concrete floor coatings market is expected to reach US$546.8 mn at the end of 2023, after expanding at a CAGR of 6.0% within a forecast period from 2015 to 2023. The market was calculated to have reached US$363.6 mn at the end of 2016. The swift rate of growth shown by the North American construction industry is a key reason for the growth rate of the North America concrete floor coatings market, and will continue to influence it over the coming years.
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United States’ Demand for Concrete Floor Coatings Continues to Rise
The U.S. held the leading share in the North America concrete floor coatings market over the recent past, and market readings point to a continued dominance for this country within the North America region. There is a massive demand for concrete floor coatings in the U.S. within the application segments of commercial and outdoor. The demand for concrete coatings for garages and walkways is currently topping most application demands within the U.S., while future construction and renovation projects are likely to spur the demand for concrete floor coatings even further.
Canada and Mexico follow the U.S. on the profitability charts in the North America concrete floor coatings market, but current movements in Mexico suggest a heavy influx of demand over the coming years. An instance includes the initiation of the National Infrastructure Plan taken up by the Mexican government from 2014 to 2018. This project is already ramping up the demand for concrete floor coatings in the region and is likely to create the foundation for better market prospects over the foreseeable future.
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The leading players in the North America concrete floor coatings market, at the moment, include BASF SE, Sherwin-Williams, RPM International Inc., The Valspar Corporation, and PPG Industries Inc. General competitive direction of the market is leaning towards improving customer retention and improving quality of product.
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