Global Concrete Floor Coating Market Will Hit Around USD 1,180 Million by 2020
Zion Research has published a new report titled “Concrete Floor Coating Market (Epoxy, Polyaspartics and Others) for Outdoor and Indoor Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, global demand for concrete floor coating was valued at USD 800 million in 2014 and is expected to reach around USD 1,200 million in 2020, growing at a CAGR of around 7% between 2014 and 2020. In terms of volume, the global concrete floor coating market stood at approximately 360 kilo tons in 2014.
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Concrete floor coating is an important materials used in construction industry. Concrete floor coating is used protection and decorative purpose. Concrete floor coating prevents floor from deterioration or contamination and offers excellent chemical resistance, ease of maintenance, physical performance, etc. Concrete floor can exposed to chemical attack, thermal shocks etc. In order to prevent them from any such harsh conditions concrete floors are coated with special coatings, especially at industrial facilities. Concrete floors are the most widely used in any construction. Hence, concrete floor coatings are widely applied on industrial floors, commercial spaces, garages, walkways, pathways, driveways etc. Epoxy, polyaspartic, polyurethane, and MMA, among others are the key raw materials used in production of concrete floor coatings.
Construction industry across the world is showing signs of strong growth in the years to come. Favorable economical policies and reduced interest rates of property loans in the emerging economies is expected to trigger growth of commercial as well as residential construction industry in the years to come. This in turn expected to be the major driving force for the concrete floor coatings market. Moreover, growing population and rising income level of middle class people in Asia pacific region is expected to thrust residential construction activities. Thus, concrete floor coatings market is expected to witness vigorous growth in the years to come. However, concrete floor coating manufacturers are expected to face some challenges like raw material price fluctuations. Key raw materials such as epoxy, polyaspartics, etc. are petroleum derived products and their prices fluctuate with slight up and down in prices of crude oil.
Epoxy, polyaspartics and others (including acrylic, polyurethane, etc.) are the key product segments of the global concrete floor coatings market. The global concrete floor coatings market was dominated by the epoxy. Epoxy accounted for over 50% share of the total concrete floor coatings volume consumed in 2014. Demand for epoxy floor coating is continuously increasing because of its functional properties like excellent adhesion, chemical and heat resistance, good-to-excellent mechanical properties and very good electrical insulating properties which drive the concrete floor coating market. Polyaspartics, polyurethane and acrylics are some other important product segments of the concrete floor coatings market. Polyspartics concrete coatings are also expected to exhibit fastest CAGR during the forecast period.
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Outdoor and indoor are the two application segments of concrete floor coatings market. Indoor was the leading application market for concrete floor coatings in 2014. Indoor is also expected to be the fastest growing application market for concrete floor coatings during the forecast period. Indoor floors include residential, office and commercial floors. Outdoor floors include walkways, pathways, driveways, garages, etc.
Global concrete floor coating market was dominated by the North America. North America was followed by Asia Pacific and Europe respectively. Asia Pacific accounted for over 29% of the global concrete floor coating in 2014. Asia Pacific is projected to be the fastest growing market for concrete floor coatings due to strong demand from India and China. Latin America and Middles East & Africa are another important regional market for concrete floor coatings.
Global concrete floor coating market is highly competitive, with the presence of well-established global market participants. Royal DSM N.V., BASF SE, Behr Process Corporation, Deutsche Amphibolin-Werke von Robert Murjahn Stiftung & Company KG, PPG Industries Inc., RPM International Inc., The Sherwin-William Company, The Valspar Corporation are some of the key participants in the market.
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