Concrete Floor Coatings Market

Concrete Floor Coatings Market Growth Outlook (2023 to 2033)

Based on the analysis by Fact.MR, the global concrete floor coatings market is valued to be US$ 1.4 billion in 2023 and it is estimated to grow at a CAGR of 6.2% to reach US$ 2.5 billion by the end of 2033.

With the growing construction sector, the demand for damage-resistant flooring solutions increased especially across industrial and commercial settings due to heavy footfall or machinery, which ultimately created high demand for concrete floor coatings.

Report Attributes	Details
Concrete Floor Coatings Market Size (2022A)	US$ 1.3 Billion
Estimated Market Value (2023E)	US$ 1.4 Billion
Forecasted Market Value (2033F)	US$ 2.5 Billion
Global Market Growth Rate (2023-2033)	6.2% CAGR
Key Companies Profiled	BASF SE Behr Process Corporation Nippon Paint Co., Ltd. PPG Industries, Inc. The Valspar Corporation

Historic and Future Pathway Analysis for the Concrete Floor Coatings Market

According to Fact.MR, historically, from 2018 to 2022, utilization of concrete floor coatings increased at around 2.9% CAGR, wherein, countries such as the United States, China, Japan, Germany, and the UK held a significant share in the global market.

• Short Term (2023-2026): The growing significance of flooring solutions is anticipated to drive the product demand in outdoor applications.
• Medium Term (2026-2029): Rise in disposable income and increase in urbanization across emerging countries such as India and China to drive the market.
• Long Term (2029-2033): Continuous growth in the construction industry and the use of the coating in commercial and residential areas will create a lucrative opportunity for the market to grow in the coming year.

According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 6.2% CAGR between 2023 and 2033.

Market Dynamics Overview

“Increasing Uses of Concrete Floor Coating in the Construction Industry”

Construction and infrastructure development activities are increasing due to the growing population thus contributing to the growth of the concrete floor coatings market. Concrete floor coatings effectively withstand mechanical and chemical stresses. It gives a protective layer to the concrete floors and improves their service life.

The global market for concrete floor coatings is mainly driven by the increasing construction activities in various parts of the world, rapid urbanization in developing countries, and adoption of the concrete floor coatings in the construction of commercial and residential buildings.

Concrete floors are mainly used in commercial and residential buildings. Concrete floor coatings protect floors against thermal shocks and chemical effects which further impact the growth of the concrete floor coatings market. The widespread use of floor coatings on concrete surfaces has boosted the growth of the floor coatings market.

“Factors Hindering the Growth of the Market”

Preparing an existing floor for the installation of an epoxy coating or subfloor is very labor-intensive. For instance, oils, grease, or certain solvents must be removed from concrete floors to ensure the proper installation of epoxy coatings.

Wet epoxy has strong fumes. These fumes are poisonous and can cause side effects to anyone who is near them. Some of the more common signs and symptoms include inflammation of the nose and eyes, throat, and lung irritation. People suffering from Asthma may have difficulty in breathing.

One of the main disadvantages of this coating is that it is a temporary coating, although it is durable and resistant to chemicals, eventually it has to be replaced effecting mounting growth of the concrete floor coatings market.

The availability of substitutes such as tiles, carpets, and bamboo flooring is further effecting the growth of the concrete flooring coatings market.

Country-wise Insights

Why Germany is an Epicenter for Concrete Floor Coating Manufacturers?

Germany is the center of the largest concrete floor market in the world and is expected to dominate during the forecast period.

A highly developed construction industry and an increase in the number of renovation construction projects are promoting the sale of concrete floor coatings in Germany.

According to the "European Construction Sector Observatory" report published by the European Commission (EC), Germany is the most important producer of the advanced construction industry in Europe. Such factors are likely to drive the German concrete floor coatings market during the forecast period.

Will the U.S. be a Lucrative Market for Concrete Floor Coatings?

The United States, the world's second-largest market for concrete floor coatings is in North America, it is the spotlight for suppliers and manufacturers operating in the market. Further, exponential growth in the construction industry and several government directives and initiatives related to this sector are expected to stimulate growth in the United States during the forecast period.

According to the US department of energy (DOE), the Building America Program has been a source of innovation in the US housing construction industry.

The US Environmental Protection Agency (EPA) recently launched the operations and maintenance (O & M) program to effectively monitor and ensure the construction and maintenance of various commercial, industrial, or other buildings. Such initiatives support the continuous growth of the construction industry, which in turn promotes the growth of concrete floor coatings.

Category-wise Insights

Why Epoxy-based Concrete Floor Coatings is Gaining Traction?

Epoxy-based concrete floor coatings currently dominate the market and are expected to continuously crown the market for years to come. This is due to its environmental friendliness, wide availability, and economy compared to other concrete floor coatings. Epoxy-based concrete floor coatings are an excellent choice because they blend hardeners with polymer resins to form a chemical bond with the concrete.

The advantages of epoxy-based coatings, make them very popular in the end-use industry, as they provide concrete floors with anti-slip properties, and durability, and are easy to maintain. In addition, it gives a unique and impressive finish as per the requirements.

Epoxy floor coatings not only enhance durability but also makes a surface that is more flexible than floor paint and can withstand heavy traffic. Further, it also makes a floor easy to clean, dirt-repellent, and adaptable enough for home and commercial applications.

Epoxy floor coatings also produce colorful and distinctive graphics that can be modified in a variety of ways with quick installation and minimal downtime. Thus, it is estimated that the epoxy floor coatings segment to potentially drive the market in the coming years.

Why Does Rise in Indoor Application Boost the Market Growth?

The indoor segment is expected to account for a major share of the global market during the forecast period, driven by increasing demand for residential infrastructure in proportion to population, which is boosting the need for new residential construction projects.

The increase in demand for indoor concrete floors in residential, commercial, and other construction sectors is serving as the prominent driving factor for the growth of the concrete floor coatings market during the forecast period.

Eminent Players Key Stratagems

Prominent concrete floor coatings manufacturers are BASF SE, Behr Process Corporation, Nippon Paint Co., Ltd., PPG Industries, Inc., and The Valspar Corporation

The global concrete floor coatings market player adopting various groundbreaking strategies to expand its business level. Global market players focus on mergers and acquisitions, agreements, & contracts and introducing more effective concrete floor coatings products.

For instance :

• Ninja Coatings, TSR Concrete Coatings, and PolyPro Concrete Coatings in May 2022 merged together to create ReVamp, a platform for top home-improvement brands that specializes in residential concrete coatings and other services.
• In August 2022, ReVamp Companies ("ReVamp"), a portfolio company of Bertram Capital ("Bertram") acquired Apollo Concrete Coatings ("Apollo"). ReVamp is a platform for the Country's top home improvement brands.

Fact.MR has provided detailed information about the price points of key manufacturers of concrete floor coatings positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Concrete Floor Coatings Industry Research

• By Product :

  • Epoxy-based
  • Polyaspartic
  • Others

• By Application :

  • Indoor
  • Outdoor

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa