Press release
Concrete Floor Coatings Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Sika AG, AkzoNobel N.V., ARCAT Inc., Ardex GmbH, Armor Rock Concrete Floor Coatings Inc
Concrete Floor Coatings Market Size
The Business Research Company offers in-depth market insights through Concrete Floor Coatings Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The concrete floor coatings market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased commercial construction projects, growth in design trends and aesthetics, increased demand for maintenance and durability, increased environmental and sustainability concerns, increased need for renovation and replacement needs
.
The concrete floor coatings market size is expected to see strong growth in the next few years. It will grow to $2.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to circular economy practices, emerging market demand, growing need for resilient and low-maintenance flooring, safety and slip resistance requirements, growing real estate
. Major trends in the forecast period include flooring material innovation, advanced flooring installation methods, technological advancements, innovative solutions, and strategic collaborations.
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Market Segmentation:
The main types of concrete floor coatings are epoxy, polyaspartic, acrylic, polyurethane, and other products. The epoxy coating consists of a polyamine hardener and an epoxy resin, which are mixed to form a durable and rigid coating with various desirable mechanical properties. The components of concrete floor coatings include one component, two components, three components, and four components. These concrete floor coatings are used in commercial, industrial, and residential entities for outdoor and indoor flooring.
Major Driver - Building, Construction, And Renovation Projects Fueling Growth In The Concrete Floor Coating Market
The rise in building, construction, and renovation projects is expected to propel the growth of the concrete floor coating market. A renovation project is the process of restoring or renovating a structure, whereas a new construction project is the construction of a structure or building from the ground up. Concrete floor coatings are often used in commercial, industrial, and residential construction and renovation activities to create high-performance, smooth, durable surfaces with a long operational life and the capability to hold heavy loads. For instance, according to the United States Census Bureau, a principal agency of the U.S. Federal Statistical System, the value of construction spending in the US increased from $1,469.2 billion in 2020 to $1,589 billion in 2021. Additionally, according to the National Association of Home Builders, a US-based association representing the interests of contractors, home builders, developers, and associated businesses, the RMI (Remodeling Market Index) in the US increased to 87 during the third quarter of 2021, compared to 82 during the same period in the previous year. Therefore, the rise in building, construction, and renovation projects is driving the concrete floor coating market growth.
Competitive Landscape:
Major companies operating in the concrete floor coatings market include Sika AG, AkzoNobel N.V., ARCAT Inc., Ardex GmbH, Armor Rock Concrete Floor Coatings Inc, BASF SE, Citadel Contractors, CPC Floor Coatings, DAW SE, Koninklijke DSM N.V., Elite Crete Systems, Hempel A/S, Henkel Corporation, Liquid Floor Inc., Nippon Paint Co. Ltd., PPG Industries Inc., Rodda Paint Co., Royal DSM N.V., RPM International Inc, Stonhard Inc., Teknos Group, Tennant Coatings, The Sherwin-Williams Company, The Valspar Corporation, United Gilsonite Laboratories, Vanguard Concrete Coating, Watco Industrial Flooring, Zeraus Products Inc., Behr Paint Company, Benjamin Moore & Co., SP Concare Pvt Ltd, Cornerstone Specialty Wood Products, LLC
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Top Trend - The Growing Trend Of Product Innovations
Product innovations are a key trend gaining popularity in the concrete floor coating market. The companies operating in the concrete floor coatings market are focusing on developing innovative floor coatings to meet the technical demands and requirements of various end-use customers, including residential, commercial, and industrial construction entities. For instance, in August 2023, HMG Paints Ltd., a UK-based paint manufacturer, launched a new product, HydroPro Floor Paint, which is a water-based floor paint designed to transform floor finishing with its cross-linking formulation that ensures exceptional durability and a superior finish for both internal and external applications. HydroPro Floor Paint offers a unique formula that combines the strength of cross-linking technology with the convenience of water-based application.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Concrete Floor Coatings Market Characteristics
3. Concrete Floor Coatings Market Trends And Strategies
4. Concrete Floor Coatings Market - Macro Economic Scenario
5. Concrete Floor Coatings Market Size And Growth
…..
27. Concrete Floor Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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