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Top three trends bolstering Europe concrete floor coatings market share

Author : Ronak Bora | Published Date : 2021-01-05 

During the unprecedented times of the COVID-19 pandemic, the construction sector in Europe has been exhibiting resilience despite vast losses, promising stabilization of demand for construction equipment. Although the European economy is expected to contract by 7.5% during 2020, it will rise from ashes, growing by nearly 6% by 2021, according to the findings of the EU official Spring Economic Forecast. As a result, the demand for concrete floor coatings across Europe is likely to take wing during the next couple of years. The Europe concrete floor coatings market is expected to collect a total revenue of over $460 million by 2026.

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Since concrete floor coatings ensure protection against both mechanical and chemical attacks, as well as thermal stressing, they are extensively utilized across industrial settings such as production facilities, storerooms, and warehouses. The Europe concrete floor coatings market held a valuation of $397 million during 2019 and is expected to grow constantly at a CAGR of 5% between 2020 and 2026.

The following top three trends have been aiding the Europe concrete floor coatings market outlook:

Supported by demand from commercial and industrial applications, polyaspartic coatings to witness an uptick

The polyaspartic coatings segment is expected to grow at a considerable pace with a CAGR of 5.7% through the forecast period. Due to the suitability of polyaspartic coatings across a varying range of temperatures from -30°F up to 140°F, it is being highly preferred across industrial as well as commercial applications. Moreover, these coatings also exhibit beneficial characteristics including high ultraviolet (UV) stability and fast curing. The emergence of novel alternatives including the metallic polyaspartic coatings and dye and seal polyaspartic coatings has been promoting their deployment, boosting the Europe concrete floor coatings market share.

Industrial segment to garner considerable revenue owing to spur in fabrication and manufacturing activities

The industrial segment claimed the largest share of the Europe concrete floor coatings market during 2019 and is expected to surge at a steady CAGR of 5.2% through the projected timeline. The uptick in the amount of consumption of concrete floor coating across fabrication and manufacturing has elevated the overall picture of the Europe concrete floor coatings market outlook.

The excellent corrosion protection offered by these products can maintain the efficiency of technical systems in industries, by preventing expensive repairs and premature aging of the industrial equipment, improving the prospects of Europe concrete floor coatings market share.

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EU recovery fund to aid market players via long-term investments

The inception of Next Generation EU, the COVID recovery plan by European Union (EU), can enable several market players operating in the Europe concrete floor coatings market to recuperate in the global scenario. Under the plan, the European Union is set to distribute grants of around €390 and loans worth nearly €360 using open channels of funding. The focus of the recovery plan is long-term investments as well as growth projects with an aim to recover fast, while also promoting digital and green transitions. The European construction companies will also benefit from the new Solvency Support program that aims to mobilize private investment through provision of guarantees against company losses. This initiative is likely to benefit the market in the long run as the consequences of the COVID slowdown can be significantly mitigated via funding and support.

Be it canteen kitchens, retail enterprises, industrial facilities, garages or car parks, concrete floor coatings can provide durable protection to all sorts of functional surfaces. As the COVID-19 slowdown subsides gradually, the Europe concrete floor coatings market size is likely to rise substantially.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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