Global Concrete Floor Coatings Market: Heavy Investments in R&D Activities to Drive Growth
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As per TMR’s estimations, the global market for concrete floor coatings will progress at a CAGR of 6.80% over the period from 2014 to 2020, increasing from a value of US$0.7 bn in 2013 to US$1.1 bn by the end of the period of the forecast. Currently, the demand for epoxy coatings is much higher than other types of floor coatings. Analysts expect this trend will continue over the next few years.
Concrete floor coatings find extensive application in indoor and outdoor infrastructural settings, with demand being relatively greater in the indoor segment. As the usage of floor coatings in increasing in industrial and commercial constructions, this trend is likely to remain so over the forecast period. Asia Pacific, among all the regional market for concrete floor coatings, is expected to emerge as the leader in the near future, thanks to rising number of established manufacturers, setting up their production plants in this region.
“With constructors and consumers, both, gaining knowledge regarding the benefits of concrete floor coatings, such as chemical resistance, physical performance, non-skid, ease of maintenance, and enhanced aesthetics, the global concrete floor coatings market is anticipated to witness high growth in the years to come,” says the author of this study.
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The rising sales of concrete floor coatings is mainly driven by the substantial increase in construction activities, triggered extensively due to high industrialization and the augmenting trend of urbanization across the world. The rising awareness about the protection provided by concrete floor coatings from chemical attacks and thermal shocks to floors is also boosting this market significantly.
While the global market for concrete floor coatings forecast a bright future, the volatile prices of raw materials may create obstructions in the growth trajectory of this market over the next few years. However, the increasing demand for concrete floor coating in commercial buildings and industrial units in developing economies is expected to stabilize the impact of the restraining factor in the near future. The increasing potential of the buildings and construction industry in emerging regions is also projected to propel this market over the forthcoming years, reports the research study.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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