About the Report
With proliferation of building, construction, and renovation projects, demand for concrete floor coatings has been rising steadily since the past decade. While main end-use industries such as residential, commercial, and other construction industries got battered by the outbreak of the COVID-19 pandemic earlier in the year 2020, recovery has started with the commencement of vaccination and the world bouncing back to the ‘new normal’. The market outlook for concrete floor coatings remains positive, while creating lucrative growth scope for suppliers and manufacturers over the coming years.
A new study by Fact.MR provides an exhaustive overview of the global concrete floor coatings market, its growth, restraints, and new trends, with special focus on lucrative regions such as East Asia, North America, Europe, and others, for the forecast period of 2021 to 2031.
Historical Vs Future Outlook of Concrete Floor Coatings Market
Concrete floor coating manufacturers have witnessed steady rise in demand with increase in requirements for indoor and outdoor applications. While demand for epoxy-based coatings has spiraled upward, expansion of the construction and building industry has further fuelled the sales of concrete floor coatings in the past years. According to Fact.MR, the global concrete floor coatings market expanded at 3.8% CAGR (value) during the last 5 years from 2016 to 2020.
New innovations by top companies coupled with increase in investments on various research & development (R&D) activities are propelling market growth. As the construction industry has got back on its feet after suffering a set-back due to the COVID-19 pandemic in 2020, key players are set to witness surge in demand for concrete floor coatings in the near future. According to Fact.MR, the global concrete floor coatings market is subject to expand at close to 6% CAGR (value) through 2031.
Why is Demand for Concrete Floor Coatings Surging from the Construction Industry?
Concrete floor coatings, being highly efficient in providing chemical and mechanical resistance and smooth finishing to concrete floors, are highly required in the construction industry. According to the United States Department of Energy (DOE), Building America Program has been a source of innovations in residential building industry in America.
As stated by DOE, on 10th February 2020, the Building Technologies Office in America awarded US$ 26.3 million to 40 competitively selected projects, led by 29 organizations, to pursue innovations that can advance the goals of BTO’s Advanced Building Construction (ABC) with energy-efficient technologies and practices activities. Such initiatives are aiding the steady growth of the building and construction industry, which, in turn, is fuelling the sales of concrete floor coatings.
What’s Restraining the Growth of Concrete Floor Coating Manufacturers?
While concrete floor coatings are crucial for any building or construction project, there are a few restraining factors worth the attention of manufacturers. Despite being highly preferred as a coating material for concrete floors, epoxy coatings have some drawbacks, such as-
- Complex and costly installation process
- Emission of strong toxic fumes
- Tendency of cracking and chipping on high impact areas
- Time-consuming to finish the coating process
However, concrete floor coating manufacturers are working hard and continuously investing in research & development activities to overcome these constraints.
Why is Germany the Focus of Concrete Floor Coating Manufacturers?
Germany is the epicenter of the world’s largest concrete floor coatings market, Europe, and is set to exhibit hegemony during the forecast period. Highly advanced building & construction industry and rise in the number of renovation projects are fuelling the sales of concrete floor coatings in Germany.
According to a report titled “European Construction Sector Observatory”, published by the European Commission (EC), Germany is the main contributor to the highly developed construction industry in Europe, while it significantly accounted for its GDP growth by 1.9% in 2016, compared to the previous year.
Will the United Kingdom Be a Lucrative Market for Concrete Floor Coatings?
The United Kingdom has emerged as another lucrative market for concrete floor coatings in Europe. Backed by growing number of manufacturing units and rise in number of industrial construction projects, the U.K. is highly progressive for concrete floor coating suppliers.
As stated in a report titled “Construction Sector Deal”, published by the Department of Business, Energy & Industrial Strategy of the Government of the United Kingdom on 22nd July 2019, the U.K. construction industry, encompassing contracting, product manufacturing, and professional services, had a turnover of around EUR 370 billion in 2016, adding EUR 138 billion as compared to the previous year. This depicts the unlimited opportunities awaiting suppliers in the U.K.
What’s Keeping the United States at the Forefront?
The United States, being the leading country in the world’s second-largest market of concrete floor coatings, North America, is in the spotlight for suppliers and manufacturers. Exponential growth of the construction industry and various governmental guidelines and initiatives for this sector are projected to further propel growth in the U.S. throughout the forecast period.
The United States Environmental Protection Agency (EPA) recently launched An Operations & Maintenance (O&M) program to efficiently track and ensure construction and renovation work for various commercial, industrial, or other buildings. According to the Census Bureau of the United States, total seasonally adjusted annual spending on the construction industry in the U.S. was US$ 1490.39 billion as in 2020, and it is increasing gradually. This, in turn, is creating ample opportunities for concrete floor coating manufacturers in the United States.
Will China’s Concrete Floor Coatings Market Exhibit Hegemony?
Presently, China is leading in the third-largest concrete floor coatings market - East Asia, and is set to maintain this lead over the coming years as well. Sky-high demand from steadily expanding residential, commercial, and industrial construction sectors is bolstering growth in China.
China has the world’s largest construction market, regulated by various governmental laws which often act in the favor of concrete floor coating manufacturers. For instance,
- Construction Law- The most important law in China’s construction industry, which provides a comprehensive legal system for the construction industry, including contracting awards, quality standards and supervision, and others.
- Real Right Law- This provides various rights to a property owner, such as right to amenity, engineering construction standards, excavation standards, plumbing standards, and other standards and rights.
Which Type of Concrete Floor Coating is Most in Demand?
Presently, epoxy-based concrete floor coatings are dominating the market, and are projected to remain in the position over the coming years. Advantages of such coatings that make them highly preferred by end-use industries are-
- It provides with a slip-resistant property to concrete floors
- It is durable and easily maintainable
- Gives a unique and impressive finishing look as per requirements
Polyaspartic concrete floor coatings is another key segment in terms of product, which is propelling the growth of manufacturers.
Rise in Indoor & Outdoor Applications Boosting Growth
According to Fact.MR, increase in requirement for concrete floor coatings for indoor and outdoor applications in residential, commercial, and other construction sectors is catering to the progress of concrete floor coating suppliers. As the construction industry is forecast to grow further, these segments are projected to raise the market value even more over the coming years.
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.
- 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.
Some of the key players operating in the global concrete floor coatings market are-
- BASF SE
- Behr Process Corporation
- Daw SE
- Nippon Paint Co., Ltd.
- PPG Industries, Inc.
- The Sherwin-Williams Company
- The Valspar Corporation
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Historical Data Available for
USD Million for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Concrete Floor Coatings Market Segmentation by Category
- Other Products
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
Key Questions Answered in Report
- Which are the top companies operating in the concrete floor coatings market?
Some of the top companies competing in the global concrete floor coatings market are BASF SE, Nippon Paint Co., Ltd., The Valspar Corporation, and others.
- Which are some of the lucrative markets for concrete floor coatings?
Germany, the United States, China, Japan, the United Kingdom, and a few others are lucrative markets for concrete floor coatings.
- Which is the highly sought-after segment in terms of product for concrete floor coatings?
Presently, epoxy-based concrete floor coatings are the mostly sought-after in terms of product in this market space.
- Which applications are fuelling sales of concrete floor manufacturers?
Currently, indoor and outdoor applications are fuelling the sales of concrete floor coatings.
- What are the key challenges faced by concrete floor coating manufactures?
Concrete floor coating manufactures are thriving on the rise in demand from the building and construction industry. However, there are a few challenging factors they are working on. For instance, epoxy-based concrete floor coatings have high demand, but they have a set of disadvantages worth attention.
Enquiry before Buying
Is this research conducted by Fact.MR?
Yes, the research has been conducted by expert analysts of Fact.MR, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses demand-side assessment of the market, and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions. Request a detailed methodology.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.
How can I buy this report?
Fact.MR provides a secure online payment system to buy reports seamlessly. You can buy any report securely and safely.
Concrete Floor Coatings Market - Scope of Report
A recent study by Fact.MR on the concrete floor coatings market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of concrete floor coatings. The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.
A detailed assessment of the value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the concrete floor coatings market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including demand, product development, revenue generation, and sales in the concrete floor coatings market across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Fact.MR’s research study assesses the global concrete floor coatings market in terms of application, product, and region. This report presents extensive market dynamics and trends associated with different segments of the market, and their influence on the growth prospects of the market.
Key Questions Answered in Report
- Which are the most lucrative markets for concrete floor coatings?
- Which factors will impact the growth of the concrete floor coatings market?
- How will changing trends impact the strategy of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the concrete floor coatings market?
- What are the winning strategies of stakeholders in the concrete floor coatings market?
Inspected Assessment on Regional Segments
Key sections have been elaborated in the concrete floor coatings market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on demand for concrete floor coatings has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the concrete floor coatings market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the concrete floor coatings market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.