Press release
Concrete Floor Coatings Market by Manufacturers, Regions, Type and Application Forecast to 2024
Concrete Floor Coatings Market is estimated to exceed USD 1.2 billion according to this new research report.Concrete floor coatings offer superior resistance in severe climatic circumstances, abrasions and wear & tear, owing to which it will witness significant demand across the commercial and residential construction structures. Also, by 2024, the flooring Market is projected to observe nearly 6% CAGR gains globally, which will consequently boost the concrete floor coatings market in the near future.
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The concrete floor coatings market might witness a restraint to its growth in the near future, which is the fluctuating petrochemical price trends. This might affect the business negatively, since the petrochemical derivatives are the foremost raw materials used in the product market. Also, strict regulations concerning the product applications in the food processing units and the pharmaceutical laboratories hamper the industry growth by 2024. Still, the bio-based product development engagements by the manufactures are likely to unveil new opportunities for the product market in the forecast period.
The epoxy coatings segment generated over USD 400 million in 2015. Compared to the other variants, the epoxy coatings are lower in cost and bear high demand from the end-use industry applications such as infrastructure, residential structures and manufacturing facilities for its resistive properties against chemicals and abrasion. Following this trend, the product will have an impressive grow in the forecast timespan.
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Globally increasing government expenditure towards the improvisation of public sector infrastructure in the recent years has influenced the demand for product in true sense. For the outdoor applications, concrete floor coatings market is set to observe gains over 6.5% in the forecast period.
In case of the indoor application segment, the rise in residential and commercial sector construction projects coupled with the increasing consumer awareness for implementing flooring solutions to enhance floor life will propel the product growth by 2024.
By 2024, Asia Pacific region is projected to have highest growth around 8% CAGR. The growth will be attributed to the ever-growing construction business in the emerging economies such as India, China and Japan. In 2015, North America generated over USD 300 million for the product market. Factors such as rising remodeling and renovation practices in residential sector, robust automotive, pharmaceuticals and hospitality industries will rouse demand for product in the flooring applications.
Leading Key Players are
Key market players are Royal DSM N.V., BASF SE, The Sherwin-William Company, DAW SE, RPM International Inc., PPG Industries Inc., Sika Corporation, The Valspar Corporation, Behr Process Corporation, Nippon Paint Co. Ltd., Henkel Corporation, Rodda Paint Co., Vanguard Concrete Coating, The Stonhard Group and Epmar Corporation.
Read More:https://www.gminsights.com/industry-analysis/concrete-floor-coatings-market
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Contact Person: Arun Hegde
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Global Market Insights, Inc.
Phone: 1-302-846-7766
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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