Stratview Research has published a new report on the Concrete Floor Coatings Market. The report on the market is segmented by Material Type (Epoxy, PU, MMA, and Others), by Application Type (Food & Beverage, Healthcare, Industrial Manufacturing, Automotive Manufacturing, and Others), by End-User Type (Industrial and Residential & commercial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Overview:
The concrete floor coatings market was valued at US$ 3.9 billion in 2022 and is likely to grow at a CAGR of 4.4% during 2023-2028 to reach US$ 5.1 billion in 2028.
What are concrete floor coatings?
Concrete floor coatings are tough protective layers used to protect concrete floors from wear and tear, corrosion, and harsh chemicals. They are also used to decorate floors by brightening or defining certain areas and covering stained concrete.
These coatings protect the underlying concrete surface from abrasion, chemical spills, and foot traffic. These coatings, which are available in materials such as epoxy, polyurethane, acrylic, and polyaspartic, provide advantages such as increased durability, chemical resistance, and aesthetics. They are used in a number of situations, like industrial, commercial, domestic, etc.
Market Dynamics
The global market for concrete floor coatings witnessed a decline of 5% in 2020 amid the pandemic in the wake of supply chain disruption, shortage of raw materials, and interrupted production schedules across industries. However, the market for concrete floor coatings grew significantly after 2021, owing to the increase in construction activities, the growing significance of safety and environmental regulations, higher demand for concrete repair and maintenance of floors, etc.
The concrete floor coating market is driven by several reasons. A few are mentioned below –
- Increasing demand for durable and aesthetic flooring solutions in residential, commercial, and industrial sectors.
- The growth of the construction industry and rising urbanization.
- Rising use of concrete floor coatings in the F&B industries due to its easy-to-clean flooring properties.
- Increasing focus on sustainable and eco-friendly building practices also pushes the demand for concrete floor coatings as they are designed to be VOC-free and eco-friendly.
Segment Analysis
Based on the material type, the concrete floor coatings market is segmented into epoxy, PU resin, MMA, and others. Epoxy is expected to remain the dominant material type in the foreseen future. Epoxy coatings are preferred for all major applications because of their durability, ease of maintenance, chemical and impact resistance, and ability to prevent wear and tear. Polyurethane remains the second dominant material type during the same period due to its flexibility, shorter curing time than epoxy, abrasion resistance, resistance to solvents and alkalis, resistance to temperature extremes, and scratching chemical and heat resistance; making it ideal for bio-medical, food processing, freezing chambers, malls, airports, and hospitals.
Based on the end-user type, the market is segmented into industrial and residential & commercial. The industrial segment is expected to remain the dominant end-user type in the market during the forecast period. Epoxy and polyurethane coating systems are predominantly used for industrial applications.
Based on the application type, the market is segmented into food & beverage, healthcare, industrial manufacturing, automotive manufacturing, and others. Industrial manufacturing is expected to remain the dominant application type during the forecast period, whereas food & beverage is the fastest-growing application type during the same period. Food & beverage includes wine industries, meat, cheese, and dairy processing, and other food-processing areas. PU resin is used in the food & beverage and healthcare industries as it exhibits high chemical resistance to corrosive substances, solvents, acids, hot oils, and sugar.
In terms of regions, Europe is estimated to be dominant in the near future. Countries, such as the UK, Germany, and France, are the main growth engines of the regional market because they are home to important companies, distributors, and contractors. There are several flooring material suppliers in the area to meet the rapidly shifting market demands. North America and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, driven by an increase in construction activities.
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please connect with our team at :
+1-313-307-4176.
