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Concrete Floor Coatings Market 2019-2025; Growth Forecast & Industry Share Report

Author : Rahul Varpe | Published Date : 2019-11-22 

The concrete floor coatings market might witness a restraint to its growth in the near future, which is the fluctuating petrochemical price trends. This might affect the business negatively, since the petrochemical derivatives are the foremost raw materials used in the product market.

Also, strict regulations concerning the product applications in the food processing units and the pharmaceutical laboratories hamper the industry growth by 2024. Still, the bio-based product development engagements by the manufactures are likely to unveil new opportunities for the product market in the forecast period.

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Concrete Floor Coatings Market is estimated to exceed USD 1.2 billion according to this new research report.Concrete floor coatings offer superior resistance in severe climatic circumstances, abrasions and wear & tear, owing to which it will witness significant demand across the commercial and residential construction structures. Also, by 2024, the flooring Market is projected to observe nearly 6% CAGR gains globally, which will consequently boost the concrete floor coatings market in the near future.

Global concrete floor coatings market will be primarily driven by the escalating construction industry, especially in the BRICS countries by 2024. In 2015, the total construction industry valuation in BRICS countries was about USD 2.5 trillion which is expected to surpass USD 8 trillion in the forecast period with CAGR up to 11%. This trend portrays brighter growth aspects for the product market by 2024.

Owing to the unique characteristics of providing protection from injurious UV rays, polyaspartics segment is forecasted to have gains over 7% CAGR by 2024 for outdoor applications. Moreover, encouraging government initiatives for using bio-based raw materials in coatings will further drive the polyurethane concrete floor coatings in the future years.

Globally increasing government expenditure towards the improvisation of public sector infrastructure in the recent years has influenced the demand for product in true sense. For the outdoor applications, concrete floor coatings market is set to observe gains over 6.5% in the forecast period.

In case of the indoor application segment, the rise in residential and commercial sector construction projects coupled with the increasing consumer awareness for implementing flooring solutions to enhance floor life will propel the product growth by 2024.

By 2024, Asia Pacific region is projected to have highest growth around 8% CAGR. The growth will be attributed to the ever-growing construction business in the emerging economies such as India, China and Japan. In 2015, North America generated over USD 300 million for the product market. Factors such as rising remodeling and renovation practices in residential sector, robust automotive, pharmaceuticals and hospitality industries will rouse demand for product in the flooring applications.

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Key market players are Royal DSM N.V., BASF SE, The Sherwin-William Company, DAW SE, RPM International Inc., PPG Industries Inc., Sika Corporation, The Valspar Corporation, Behr Process Corporation, Nippon Paint Co. Ltd., Henkel Corporation, Rodda Paint Co., Vanguard Concrete Coating, The Stonhard Group and Epmar Corporation.

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Vinyl Acetate Ethylene Copolymer (VAE) Powder Market Statistics: 2019-2025 Global Share Report

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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