Concrete Floor Coatings Global Market Report 2024

Concrete floor coatings encompass semi-liquid or liquid materials designed to enhance both the aesthetics and protective qualities of flooring. These coatings are applied to cured concrete, reinforcing the surface or structure, thereby minimizing repair and maintenance expenses. Additionally, they contribute to a smoother, more slip-resistant surface, facilitating easier maintenance.

The primary categories of concrete floor coatings include epoxy, polyaspartic, acrylic, polyurethane, and other specialized products. Epoxy coatings, for instance, consist of a polyamine hardener and epoxy resin, combining to create a robust, rigid coating with various desirable mechanical properties. These coatings are available in one-component, two-component, three-component, and four-component formulations. Widely employed in commercial, industrial, and residential settings, these coatings serve both outdoor and indoor flooring needs.

The concrete floor coatings market research report is one of a series of new reports that provides concrete floor coatings market statistics, including global market size, regional shares, competitors with a concrete floor coatings market share, detailed concrete floor coatings market segments, market trends and opportunities, and any further data you may need to thrive in the concrete floor coatings industry. This concrete floor coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 expansion observed in the historical period can be ascribed to heightened activity in commercial construction projects, the surge in design trends and aesthetic considerations, growing demand for enhanced maintenance and durability, heightened awareness of environmental and sustainability issues, and an increased need for renovation and replacement solutions.

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 anticipated growth in the forecast period can be linked to the adoption of circular economy practices, the rising demand from emerging markets, an increasing need for resilient and low-maintenance flooring solutions, compliance with safety and slip resistance requirements, and the overall expansion in the real estate sector. Noteworthy trends expected in this period encompass innovations in flooring materials, advancements in flooring installation methods, technological progress, the emergence of innovative solutions, and strategic collaborations.

The anticipated surge in building, construction, and renovation endeavors is poised to drive the growth of the concrete floor coating market. Renovation projects involve restoring or upgrading structures, while new construction projects entail building structures from the ground up. Concrete floor coatings find extensive use in commercial, industrial, and residential construction and renovation activities to establish high-performance, seamless, robust surfaces with prolonged operational longevity and the capacity to support substantial loads. Notably, the United States Census Bureau reported an increase in construction spending from $1,469.2 billion in 2020 to $1,589 billion in 2021. Correspondingly, the National Association of Home Builders noted a rise in the Remodeling Market Index (RMI) to 87 in Q3 2021 compared to 82 in the same period the previous year. Thus, the upswing in construction and renovation projects is fueling the concrete floor coating market.

The burgeoning industrial sector is poised to propel the concrete floor coatings market forward. The industrial sector encompasses economic activities related to the production, processing, and manufacturing of tangible goods and materials. Concrete floor coatings play a crucial role in safeguarding and enhancing concrete surfaces within the industrial sector, enhancing durability, chemical resistance, and aesthetics, while facilitating easier maintenance and cleaning. For instance, in September 2023, the Federal Reserve Board of Governors reported a 0.4% increase in industrial production in the United States, with manufacturing output rising by 0.1%. Consequently, the expanding industrial sector is set to drive the concrete floor coatings market.

A prominent trend gaining traction in the concrete floor coating market is product innovation. Companies within the market are dedicating efforts to developing innovative floor coatings to meet the technical demands of diverse end-use customers, including residential, commercial, and industrial construction entities. An illustrative example is HMG Paints Ltd., a UK-based paint manufacturer, which, in August 2023, introduced HydroPro Floor Paint. This water-based floor paint boasts a cross-linking formulation, ensuring exceptional durability and a superior finish for both internal and external applications. HydroPro Floor Paint's unique formula combines cross-linking technology's strength with the convenience of water-based application, exemplifying the industry's commitment to innovation.

Prominent companies in the concrete floor coatings market are strategically prioritizing technological advancements, particularly in the realm of surface temperature-limiting floor coatings, as part of their commitment to innovation. Surface temperature-limiting floor coatings represent a specialized category designed to effectively manage and restrict the temperature of the underlying substrate or surface. Notably, in September 2022, PPG Industries Inc., a leading US-based paint and coating manufacturing company, unveiled a new series of surface temperature-limiting concrete floor coatings and concrete stains featuring cool surface technology. These coatings possess the capability to restrict surface temperatures by up to 20 percent, providing a safeguard for bare feet and paws on various surfaces such as concrete, wood patios, porches, and pool decks.

In a significant move in January 2022, Seal for Life Industries, a global industrial coating platform under Arsenal Capital Partners, a New York-based private equity firm, completed the acquisition of two industrial coating entities, Mascoat Ltd. and Verdia, Inc., for an undisclosed sum. This strategic acquisition by Arsenal is strategically geared towards expanding its operational footprint and market capabilities in the realm of protective sealing and coating solutions for infrastructure markets worldwide. Mascoat Ltd., based in Texas, specializes in thermal insulation coatings, while Verdia, Inc., also based in Texas, focuses on polyurethane concrete flooring systems and offers a range of formulations including epoxies, polyurethane, and polyaspartic solutions. This acquisition underscores Arsenal's commitment to enhancing its position in providing comprehensive solutions for protective coatings in infrastructure applications globally.

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

Asia-Pacific was the largest region in the concrete floor coatings market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the concrete floor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the concrete floor coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The concrete floor coating market consists of sales of PVC, ceramic and laminated for concrete floor coating purposes. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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