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Concrete floor coating is the protective layer applied to the floors, which is available in the form of liquid and semi-liquid. It exhibits a commendable grip with the concrete surface which further helps in retaining the appearance, texture, and quality of floorings. It is available in different types including epoxy, polyaspartics, acrylic, and polyurethane. These coatings increase the shelf life of concrete floors. Furthermore, concrete floor coatings offer beneficial properties such as wear resistance, tear resistance, abrasion resistance, and heat resistance. These properties fueled the demand for concrete floor coatings in residential and non-residential sectors.
The rising need for concrete floor coatings in the construction sector will propel the lucrative market growth. The concrete floor coatings are efficient in resisting the impact of mechanical and chemical stresses. It offers a protective layer to floors, which is made of concrete. Whereas, the construction industry has started paying essential attention to the strength and aesthetics of floorings, which further increases the demand for concrete floor coatings. Additionally, the rising demand for epoxy resin will also surge the need for concrete floor coatings. The demand for epoxy resin is rising due to its ease of maintenance and low cost. It also possesses benefits such as impressive durability, enhanced appearance, eco-friendliness, improved safety, and increased productivity. Hence, the development in the construction sector and rising demand for epoxy resting will fuel the growth of concrete floor coatings.
Key Market Driver -
Development in the construction sectors and rising demand of epoxy resins to drive the market growth
Key Market Restraint -
Fluctuation in pricesof concrete floor coatings to restrains market growth
However, the lack of availability of raw material leads to fluctuations in the prices of concrete floor coatings, andis anticipated to restrain the market growth during the forecast period.
Based on type, the concrete floor coatings market is segmented into epoxy, polyaspartics, acrylic, polyurethane and others. Based on application, the market is segmented into residential and non-residential. From geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the concrete floor coatings market includes Florock, Rust-Oleum, Tennant Coatings, BASF SE, Vanguard Concrete Coating, North American Coating Solutions, Trucrete Surfacing System, PPG Industries, Cornerstone Coatings and The Sherwin-Williams Company.
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Asia Pacific accounted for the highest revenue share during the forecast period, in which India and China are the leading contributors. The rapid infrastructure development will provide growth to the concrete floor coatings market in this region. North America is the second-largest region in the market. Increasing remodeling practices and renovation, majorly in the residential construction sector, has fueled the regional product demand. Europe is the third-largest contributor for concrete floor coatings, owing to rising commercial buildings in this region. The Middle East & Africa witnessed sustainable growth, owing to the rising construction sector. The growth in Latin America is attributed to the increasing epoxy and acrylic resin in the residential buildings.
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