Concrete Floor Coatings Market To Witness High Demand | Top Key Players - Royal DSM N.V., Nippon Paint Co. Ltd, BASF SE, PPG Industries Inc., DAW SE

According to a study, concrete floor coatings market size could amass USD 1.77 billion in terms of total annual remuneration through 2026.

Global concrete floor coatings market has witnessed a major upswing with the soaring construction industry globally. According to U.S. Census, construction spending across the U.S. during August 2020 was estimated a seasonally adjusted annual rate of USD 1412.8 billion, indicating the tremendous potential for floor coating suppliers.

Flooring is an important part of the construction sector and concrete floor coatings are widely used in applications to offer resistance against harsh climatic conditions. The overall construction sector in developing countries like India has depicted promising growth prospects over the years.

The growth in the industry depends on two main factors- the massive developments in the construction sector and the consequent expansion in flooring production. Increasing renovation and the establishment of new infrastructural projects is projected to expand the scope of the business.

Europe concrete floor coatings market has witnessed enormous gains in the last couple of years owing to strict regulations established by the regulatory authorities towards multifunctional and smart coatings. High disposable income among people across the region has amplified the construction spending, demanding advanced infrastructural solutions.

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Additionally, the European Commission regulates the type and quality of the product. The Construction Products Regulation has established stringent rules which ensure that reliable information regarding the product is provided to the consumers, public authorities, and professionals. Surging developments to control the toxic levels and VOC emissions from such coatings by leading companies like Henkel and BASF is likely to support the sale of eco-friendly concrete floor solutions.

Concerning the type of product, polyurethane concrete floor coatings have gained considerable demand over the years due to the surging trend of water-borne applications. Superior resistance along with durability makes the product a premium coating type which is applicable in numerous solutions.

In indoor applications, the product is used primarily due to developments in the manufacturing sector. The main factor which is responsible for the material demand from indoor application is the emerging demand for commercial and residential construction in most of the emerging countries. During the year 2019, the indoor segment accounted for over 65% of the total concrete floor coating share worldwide.

Four component concrete floor coatings are ideal for places that need self-leveling coatings. The product carries the ability to withstand friction. Four component floor systems will bring significant demand for the coatings, due to the rise in demand from automobile plants, food processing units, and warehouses.

The volatile cost of raw materials along with strict regulations with respect to the use of sustainable construction materials will create obstacles in industrial growth.

The coronavirus pandemic has largely affected the construction output, which has subsequently affected the demand for the product. Restrictions in the movement of the people along with the supply chain of raw materials have brought a temporary halt in construction workings. However, with fast approaching relaxation in various sectors of the economy allowed by the authorities, allowing construction sites to work at a particular capacity, concrete floor coatings are expected to regain sales.

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The industry comprises of a number of regional and international participants, where these companies are frequently entering into mergers and acquisitions, alliances and partnerships to expand their geographical reach and expand their product portfolio. For instance, in the year 2019, Switzerland-based Sika AG announced the acquisition of Parex – a leader in architectural coatings and finishing items. The transaction aims at strengthening the former’s growth platform.

Other notable companies include DAW SE, Epmar Corporation, BASF SE, Nippon Paint Co., Henkel Corporation, Rodda Paint Co., and Behr Process Corporation, to name a few.

Industrialization in most parts of the world over the years and the emergence of green buildings has driven the need for advanced commercial and residential buildings. FDI into developing countries in APAC has supported the establishment of various high-rise structures. The aforementioned factors along with the support from governments to constantly enhance the infrastructural offerings will magnify concrete floor coatings market share.

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