The concrete floor coatings market is estimated to grow at a CAGR of 7.2% during the forecast period of 2023-2030. The increase of end-use sectors such as residential construction and commercial spaces, as well as the growing demand for protective concrete flooring coverings, will drive the market over the projection period. Expansion of the manufacturing sector in developing economies is also predicted to boost the market. Manufacturers' demand for concrete floor coverings has grown due to more indoor and outdoor uses. The rise of the construction and building business has boosted concrete floor coating sales. This growth has coincided with a parabolic spike in epoxy coating demand.
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The expansion of the concrete floor coatings market can be attributed to the fast-rising global population, which is driving an increase in the number of activities related to the development of infrastructure. The rapid urbanization that is taking place in developing countries, the rising number of building and construction activities taking place all over the world, and the increasing use of concrete floor coatings for a variety of applications in the construction of residential and commercial buildings are the primary factors driving the global market for concrete floor coatings. Protecting concrete floors against abrasions and wear and tear is the primary function of most coatings designed for concrete floors. Floors can be shielded from severe weather conditions by using concrete coverings. The majority of flooring in both residential and commercial establishments are composed of concrete. It is projected that the market would witness growth as a result of an increase in the number of countries, both developed and developing, that participate in a variety of building and construction projects.
Leading firms in the construction industry will witness an increase in demand for concrete floor coatings during the forecast period as the sector is almost recovering from the adverse impact of COVID-19 pandemic. The building sector in China relies heavily on rural migrant labour; the National Bureau of Statistics says that 54 million rural migrant labourers are involved in construction. After the 2020 lockdown, migrant workers who had gone home to celebrate the Lunar New Year couldn't return to work. Vaccination programmes and the lifting of lockdowns are expected to boost the floor coatings sector in the coming years. It was in the report. During the first three quarters of 2020, demand for leasing office space in Europe plummeted by 40%. Changes in raw material prices are expected to slow market growth. Sharp price hikes for epoxy resins and supply constraints are worsening problems for UK and European paint and coating firms. These considerations also contribute to the constraints imposed by COVID-19 and its interruption. As a result of the new trade arrangements the UK has struck with the EU, which supplies 60% of the UK's raw materials, several firms are in disagreement. Since 2020's second half, polyester resin, epoxy resin, and both have risen in price.
The global market for concrete floor coatings is growing due to urbanisation and industrialization. The number of concrete floor coating manufacturers in India and China is rising. The global market for concrete floor coatings is driven by industrial and commercial demand. The leading concrete floor coatings market players are working with small and medium-sized producers to grow. The increased understanding that concrete floor coverings protect against thermal shocks and chemical attacks further drives the global industry. Concrete floor coatings are gaining popularity due to their many benefits. The Commercial Real Estate Development Organization estimates commercial real estate development contributed USD 1.14 trillion to the US GDP in 2018. Strong e-commerce has increased the need for warehousing, leading to a 12.6% increase in warehousing development in the U.S. in 2019 compared to 2018.
3D floor coatings are a new trend. Bathrooms, living rooms, lobbies, bedrooms, swimming pools, and Jacuzzis are some places where 3D flooring can be found. They have a "WOW" element that makes them stand out from other products on the market. It's expected that these floors will replace all others on the market. Metallic epoxy flooring, a new type of flooring gaining popularity in commercial and residential settings, is another trend in the industry. Both business and residential environments use this flooring. Premium metallic pigments and high-performance epoxy resins make it feasible to combine colours and patterns on the floor.
Epoxy, polyaspartic, acrylic, and polyurethane are utilised to segment the market's subsets. In 2021, epoxy floor coatings had over 65% of the market share. Compared to other coating solutions, epoxy coatings are more available, environmentally benign, and cost-effective. In 2020, industry leaders Sika AG and PPG released a variety of epoxy coatings. During the projection term, epoxy should contribute significantly to total income. Epoxy floor treatments are durable and aesthetically beautiful. Combining hardeners with polymer resins forms a chemical bond with the concrete. There's also a variety of colours and ornaments. An epoxy finish is harder than floor paint and can withstand a lot of foot traffic. It can be converted into an easy-to-clean, stain-resistant floor that can be used in household and commercial settings. In addition, it provides brilliant, original graphics that can be customised, has a fast installation process, and has minimal downtime. During the forecast period, the acrylic category is expected to see substantial sales growth. Water is used to manage acrylic floor coating components such butyl acrylate, ethyl acrylate, and methyl methacrylate. Most acrylic floor coatings use butyl acrylate, ethyl acrylate, and methyl methacrylate as monomers. These floor coatings are affordable and perform well. Acrylic floor coverings aren't as durable as epoxy or polyurethane ones. Acrylic floors wear out faster. Normal coatings may need to be polished or renewed more often than these. Acrylic floor coverings may have a low initial cost, but they can be expensive to maintain. Acrylic floor coatings don't last as long as others, but they cure quickly, in an hour or less. Reduced turnaround times and labour costs result in cost reductions. The coating's surface can be polished if it's damaged during use.
In the research report, market segments are covered based on components: one, two, three, and four. The two-component segment is expected to increase rapidly during the forecast period. These coatings are utilised in food and beverage, fabrication, plastic manufacturing, and assembly lines, which should increase the market over the projection period. The coatings protect the floor from extraneous objects and external forces. During the predicted period, the three-component is expected to expand by 6%. Industrialization aids growth, therefore boosting the market revenues for this segment. This component system works well in heavy-duty applications, but its use requires training. Combining the three components creates an efficient and effective flooring solution. Heavy-duty companies like chemical processing, manufacturing, auto parks, and pharmaceutical production use floor coatings. Manufacturing industry expansion and infrastructure investment will raise demand for three-component systems during the projected period.
According to application segmentation analysis, the market is segmented as indoor and outdoor segments. Demand for housing infrastructure is rising in proportion to population expansion, which is increasing the requirement for new residential building projects. The indoor sector is predicted to account for a substantial revenue share in the global market throughout the forecast period. This is why indoors is predicted to dominate the industry in the next several years. Polishing, dying, staining, and ornamental coatings can finish concrete. The procedures work on new and ancient concrete. Because of this, you can finish a concrete basement floor or uncover concrete slabs covered with carpet or vinyl tile. No matter where the floor is, it must be able to withstand varying stresses. Concrete coatings are equally durable as conventional floor tiles and don't chip or break easily. It offers the finest value for money to every business. If maintained with a concrete coating, a concrete floor can endure 50 to 100 years, longer than a house's average lifespan. During the forecast period, 2023 to 2030, the outdoor sector's revenue is expected to grow the fastest registering the largest CAGR. This is attributed to rising infrastructure spending in emerging nations. Increasing building of business complexes and parking spaces, expanding preferences for concrete flooring, changes in urban lifestyles and increased awareness about safety in commercial parking areas are likely to fuel demand throughout the projection period. The natural environment can have an impact year-round, and regular use of outdoor places can cause wear and tear. Installing concrete coatings on outdoor places like a porch or patio helps reduce damage to a property's façade, allowing the owner to get the maximum use out of such amenities. Although durable, concrete floors are permeable. Insects, germs, fungi, dampness, filth, dust, and other impurities can permeate the floor and cause difficulties. Even if a patio or porch is covered by an awning or shade to shield it from the sun's UV rays, which can damage and degrade flooring, the sun's rays and other environmental factors can eventually ruin the floors. By applying patio or porch coatings, one can seal pores, gaps, or cracks in the floor while adding a layer resistant to UV radiation.
The market is categorized by end-use as residential, commercial, and industrial. In 2021, the residential sector held the biggest market share due to the increased number of people living in metropolitan regions and global urbanization. In addition, an increase in residential development in developed nations like Germany and the UK is expected to boost demand for concrete floor coatings throughout the projection period. Indoor applications presently lead the market due to an increase in construction projects worldwide. New home building projects are needed faster than ever because the population is rising proportionally. Urbanization and industrialization have sparked a need for efficient building materials and solutions in growing countries, leading to the introduction of huge construction projects. China approved rental housing projects in August 2017. First, this project will be executed in 13 cities, including Beijing, Shanghai, and Guangzhou. Installation of new automotive and pharmaceutical manufacturing houses in these regions, as well as the development of commercial spaces in East Europe and the U.S., will further boost the industry.
The industrial category is expected to have a considerable share of the worldwide market over the forecast period. Increasing usage of these coatings in the industrial sector to improve aesthetics, protect floors from corrosion and reduce excessive surface wear. Each industrial plant faces distinct difficulties, requiring specific flooring solutions. Floor coatings consisting of industrial epoxy or other high-performance resinous materials can improve worker safety and efficiency in industrial buildings, warehouses, and factories. This is a benefit. The type of floor coating to use depends on the area, as do much other design and technical factors. Food and beverage production, storage, laboratories, and pharmaceutical factories require sanitary floor surfaces. The floors must be easy to clean, resistant to abrasion and stains, and chemical-proof. Increasing industrialization in Asia-Pacific and FDI-friendly legislation in many emerging economies would boost concrete floor coatings market share. The study's timeline will also see the development of low-VOC items and the availability of a varied product portfolio.
During the forecast period, the commercial sector is expected to have the greatest CAGR. Concrete is the material most architects and contractors choose for commercial buildings including offices, restaurants, retail stores, and commercial kitchens since it's sturdy and easy to maintain. Concrete floor coatings are the best choice for flooring in many circumstances due to their benefits. Epoxy concrete floor coverings are noted for their durability, toughness, and performance. They also give a durable, slip-resistant surface, which is a plus. The best way to hide, protect, and extend the life of concrete and steel is with a concrete floor coating, which is heat, fire, impact, slide, and spill resistant. When used in workplaces and offices, it guards against wear and tear, speeds up the movement of supplies and equipment, and decreases the wear on transportation vehicles.
Demand in North America is predicted to expand at a 7.5% CAGR between 2023 and 2030, substantially faster than the global average. Flooring solutions continue to grow due to the region's strong industrial, commercial, and infrastructure sectors. The automotive, electronics and electrical, pharmaceutical, and e-commerce industries, as well as the growth of warehouses, will help the concrete floor coatings market in the region. The European construction sector's rebound contributes to revenue growth in this region. In the UK, monthly building output rose 1.1% in January 2023, after rising 2% in December 2021. It was the highest since September 2019. This is the third straight month of over 1% growth. Concrete floor coatings can provide shiny, glittering surfaces to boost a commercial or industrial space's attractiveness. A floor can be customized to fit an organization's needs and reflect light to save energy use. Some companies may opt to have their company's insignia on the floor, and they may also choose from a variety of types and finishes. Coatings boost a floor's slide resistance. Altering the floor design is another way to divide workspaces. The area where machines are controlled may be bordered or painted a different color from the rest of the floor. It tells staff where to go and where to be cautious.
In Asia Pacific, concrete floor coatings are gaining popularity in the building and construction industries, giving growth opportunities for manufacturers. So, APAC had the most revenue in 2021 and is predicted to contribute the most during the forecast period. Demand for concrete floor coatings in the region is driven by population growth, industrialization, and established industry participants. Asia Pacific's growing number of residential and commercial construction projects and infrastructure development also drive the market for concrete floor coatings. Manufacturers in India and China have significant potential. By catering to the booming building and construction industry, concrete floor coating companies are profiting. China is currently first in East Asia's third-largest concrete floor coatings market, and it is expected to remain first over the projected period. China's economy is benefiting from booming residential, commercial, and industrial construction markets. The Chinese building market is the largest in the world, and state policies favor manufacturers of concrete floor coverings. The Construction Law is key to China's construction industry. It comprises issuing contracts, defining quality standards, and managing construction projects, among other things. Real Right Law grants property owners rights including amenities, engineering construction standards, excavation standards, plumbing standards, and more.
Globally, the concrete floor coatings industry is fragmented, with large and medium-sized rivals accounting for most of the revenue. So, competition is fierce. Key players are investing more and focusing on introducing higher-quality products to maintain their industry position amid fierce competition. The leading players in this market are adopting mergers and acquisitions, strategic partnerships and contracts, and developing, testing, and launching novel goods with higher quality. The study on the global concrete floor coatings market profiles many companies. Major competitors in this industry are BASF SE, DSM, DAW SE, PPG Industries Inc, NIPSEA Group, RPM International Inc, BEHR Process Corporation, The Sherwin-Williams Company, Valspar, and Sika Corporation. To enhance their market shares, companies in the industry spend in R&D, produce new goods, merge, and extend their distributor networks. Sika AG bought Russian mortar maker Kreps LLC in 2021.
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