Concrete Floor Coatings Global Market Report 2022

Concrete Floor Coatings Global Market Report 2022

  • June 2022 •
  • 175 pages •
  • Report ID: 6284362 •
  • Format: PDF
Major players in the concrete floor coatings market are Sika AG, BASF SE, PPG Industries, Inc, RPM International, Inc, The Sherwin-Williams Company, Nippon Paint Co. Ltd, Royal DSM N.V., Behr Process Corporation, DAW SE, The Valspar Corporation, AkzoNobel N.V., DSM, Tennant Coatings, Henkel Corporation, Ardex, United Gilsonite Laboratories, Elite Crete Systems, Hempel A/S, Vanguard Concrete Coating, Rodda Paint Co, CPC Floor Coatings, Citadel Contractors, Watco Industrial Flooring, ARCAT, Inc, Armor Rock Concrete Floor Coatings Inc, Liquid Floor Inc, Stonhard Inc, Teknos Group, and Zeraus Products Inc.

The global concrete floor coatings market is expected to grow from $1.41 billion in 2021 to $1.49 billion in 2022 at a compound annual growth rate (CAGR) of 5.68%. The concrete floor coatings market is expected to reach $1.99 billion in 2026 at a CAGR of 7.38%.

The concrete floor coatings market consists of sales of concrete floor coating solutions by entities (organizations, sole traders, and partnerships) that refer to semi-liquid or liquid material used for improving the aesthetics and protection of the floor.Concrete floor coatings are applied on cured concrete to make the surface or structure strong and reduce the repair and maintenance costs.

It also offers a smoother and slip-resistant surface, which is easier to maintain.

The main types of concrete floor coatings are epoxy, polyaspartic, acrylic, polyurethane and other products.The epoxy coating consists of a polyamine hardener and an epoxy resin, which are mixed to form a durable and rigid coating with various desirable mechanical properties.

The components of concrete floor coatings include one component, two component, three component and four component. The concrete floor coatings are used in commercial, industrial and residential entities for outdoor and indoor floorings.

Asia Pacific was the largest region in the concrete floor market in 2021.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in the concrete floor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising building, construction, and renovation projects are expected to propel the growth of the concrete floor coating market.Renovation is the process of restoring or renovating the structure, whereas, a new construction project refers to the construction of a structure or a building from scratch level.

Concrete floor coatings are often used in commercial, industrial, and residential construction and renovation activities to create high-performance, smooth, durable surfaces with high operational life and capabilities to hold heavy loads. For instance, according to The United States Census Bureau, a principal agency of the U.S. Federal Statistical System, the value of construction spending in the US increased from $1,469.2 billion in 2020 to $1,589 billion in 2021. Additionally, according to the National Association of Home Builders, a US-based association representing the interests of contractors, home builders, developers, and associated businesses, the RMI (Remodeling Market Index) in the US increased to 87 during the third quarter of 2021, compared to 82 during the same period in the previous year. Therefore, the rising building, construction, and renovation projects are driving the growth of the concrete floor coating market.

Product innovations are a key trend gaining popularity in the concrete floor coating market.The companies operating in the concrete floor coatings market are focusing on developing innovative floor coatings to meet the technical demands and requirements of various end-use customers including residential, commercial and industrial construction entities.

For instance, in December 2019, BASF SE, a Germany-based chemical manufacturer, launched MasterTop XTC, a high-performance flooring system with fast service recovery and enhanced durability.The MasterTop XTC is formulated with the Xolutec technology, which helps in developing unique material characteristics.

MasterTop XTC is an inorganic modified high-density cross-linking resin polymer that offers an easy-to-clean seamless floor surface, having exceptional resistance to impact and abrasion.

In January 2022, Seal for Life Industries, a global industrial coating platform of Arsenal Capital Partners, a New-Work based private equity company, acquired two industrial coating companies Mascoat Ltd. and Verdia, Inc., for an undisclosed amount. The acquisition by Arsenal is focused on expanding its operational and market capabilities in protective sealings and coating solutions for infrastructure markets across the globe. Mascoat Ltd. is a Texas-based provider of thermal insulation coatings, whereas Verdia, Inc. is a Texas-based provider of polyurethane concrete flooring systems and offers epoxies, polyurethane and polyaspartics formulations.

The countries covered in the concrete floor coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.