Concrete Floor Coatings Market Size is Estimated to Reach US$ 2.5 Billion by 2033

According to Fact.MR analysis, the global concrete floor coatings market is valued at $1.4 billion in 2023 and is projected to grow at a CAGR of 6.2%, reaching $2.5 billion by the end of 2033.

Concrete floor coatings, designed to withstand mechanical and chemical stress, are in high demand within the building, construction, and renovation sectors. As these key industries continue to grow rapidly, the demand for epoxy-based and other concrete floor coatings is increasing significantly.

A report titled "Industrial Strategy: Government and Industry in Partnership" by the Government of the United Kingdom highlights that the global building and construction industry is expected to grow by over 70% by 2025 compared to 2013.

Although the residential, commercial, and other construction industries were heavily impacted by the COVID-19 pandemic in early 2020, recovery has begun with the rollout of vaccines and the world adapting to the 'new normal'.

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What's keeping the United States at the Forefront?

The United States, as the leading country in North America's concrete floor coatings market, is a focal point for suppliers and manufacturers.

The construction industry's rapid growth and various governmental guidelines and initiatives are expected to drive further expansion in the U.S. during the forecast period.

Recently, the United States Environmental Protection Agency (EPA) launched an Operations & Maintenance (O&M) program to efficiently oversee construction and renovation work for commercial, industrial, and other buildings.

According to the United States Census Bureau, total seasonally adjusted annual spending on the construction industry in the U.S. was $1,490.39 billion in 2020 and is gradually increasing. This growth is creating significant opportunities for concrete floor coating manufacturers in the United States.

Which Type of Concrete Floor Coating is Most in Demand?

Currently, epoxy-based concrete floor coatings dominate the market and are expected to maintain their leading position in the coming years. These coatings are highly preferred by end-use industries due to several key advantages:

Slip-resistant properties for concrete floors
Durability and ease of maintenance
Customizable and aesthetically appealing finishes
Additionally, polyaspartic concrete floor coatings represent another important product segment driving growth for manufacturers.

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Key Takeaways from Concrete Floor Coatings Market Study

Epoxy-based coatings to witness highest demand.
Asia Pacific to lead the global concrete floor coatings market, with its epicentres in India and China.
The United States remains lucrative in the North America concrete floor coatings market.
Germany to take the spotlight in Europe's market.
Japan, Mexico, the United Kingdom, Canada, and a few other countries to emerge heavyweights for concrete floor coating manufacturers.
Rise in demand from indoor and outdoor segments to propel market growth.

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Competitive Landscape

The global concrete floor coatings market offers a highly competitive environment to its key players.

In order to hold their position through the cut-throat competition, key players are investing heavily while focusing on launching better quality products.

For instance,

Daw SE launched its new range of concrete floor coatings and related materials such as DISBON 404 Acrylic Floor Sealer, Dispobox 442 Garage Sealer, and others, in 2018.
PPG Industries, Inc. launched its new extensive range of concrete floor coatings such as PPG General Purpose Floor Coatings, PPG Wear-Resistant Floor Coatings, and others, in 2020.
The Valspar Corporation launched its new broad range of concrete floor coatings such as Valspar® Epoxy-based Two component Garage Floor Coatings, Valspar ® Indoor and Outdoor Floor Coatings, and others, a few years back.

Key Companies Profiled

BASF SE
Behr Process Corporation
Daw SE
Nippon Paint Co., Ltd.
PPG Industries, Inc.
The Sherwin-Williams Company
The Valspar Corporation

Concrete Floor Coatings Market Segmentation by Category
Application

Indoor
Outdoor
Product

Epoxy-based
Polyaspartic
Other Products
Region

North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania

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This release was published on openPR.