Concrete Floor Coatings Market 2020 - 2024 Growth & Regional Revenue By Global Players - BASF SE, Royal DSM N.V., DAW SE, PPG Industries Inc., Nippon Paint Co. Ltd., RPM International Inc., Behr Process Corporation

A research study conducted by Global Market Insights, Inc., suggests that concrete floor coatings market will surpass a valuation of around $1.2 billion by 2024.

Increasing number of construction activities and initiatives to develop public infrastructure is likely to push concrete floor coatings market share several notches up. Concrete floor coatings are likely to gain traction due to their superior resistance in severe climatic situations, wear & tear, and abrasions.

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The product has immense applications in commercial & residential constructions on account of its unique properties. Moreover, flooring market is expected to grow at a 6% CAGR through 2024, which will considerably push concrete floor coatings industry trends in the coming years.

Based on the product spectrum, concrete floor coatings industry is segmented into polyurethane, epoxy, acrylic, polyaspartics. Among these, polyaspartics segment is expected to record a CAGR of around 7% over 2016-2024. The growth is expected to stem from the product's exceptional characteristics of protecting the floor from harmful UV rays.

In 2015, epoxy coatings segment was valued at $400 million. These coatings possess several expedient properties, such as chemical resistance, cost-effective, & abrasion resistance. They are experiencing huge demand from major end-user domains, such as manufacturing facilities, infrastructure, and residential structures.
Furthermore, governments are endorsing the use of bio-based raw materials in coatings by introducing several supportive initiatives, which will fuel polyurethane concrete floor coatings market growth.

Governments are spending a slew of investments to develop public sector infrastructure, which has offered a significant push to the growth graph of this business. On that note, concrete floor coatings industry from outdoor applications is predicted to witness a 6.5% CAGR over the forecast period.

The number of commercial and residential sector construction projects are gradually rising in recent times, which is expected to provide an impetus to indoor application of concrete floor coatings market. Consumers are becoming increasingly aware of available flooring solutions to prolong floor life, which will influence business trends.

Construction sector, particularly in BRICS countries, has been playing a major role in driving concrete floor coatings industry growth. In 2015, the construction industry in BRICS nations accounted for around $2.5 trillion and is anticipated to cross the $8 trillion mark by 2024. Construction industry is estimated to register an 11% CAGR over 2016-2024.

Asia Pacific concrete floor coatings market has been witnessing spiraling growth on account of increasing construction activities across developing countries, such as China, Japan, and India. Estimates state that APAC concrete floor coatings industry size will observe an 8% CAGR over the forecast period.

Elaborating further on regional contribution, in 2015, North America accounted for around $300 million in the total concrete floor coatings market. The region has been observing a marked rise in remodeling and renovation activities across robust automotive, residential sector, hospitality, and pharmaceuticals.

Due to the escalating construction industry and soaring demand for concrete floor coatings, several companies in the sector are working to gain a competitive advantage over their peers. A few of the major concrete floor coatings market players include BASF SE, The Sherwin-William Company, RPM International Inc., PPG Industries Inc., The Valspar Corporation, Royal DSM N.V., Sika Corporation, Behr Process Corporation, Henkel Corporation, Nippon Paint Co. Ltd., Rodda Paint Co., The Stonhard Group, DAW SE, Epmar Corporation, and Vanguard Concrete Coating.

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