The Asia Pacific region is anticipated to observe substantial growth in the concrete floor coating market in the upcoming years. This growth can be credited to increasing infrastructure projects, corporate enterprises, & educational establishments in the region. These projects & establishments are leading to a rise in demand for high-performance & durable flooring solutions, which in turn resulted in increased usage of concrete floor coatings in the region. The increasing industries & growing construction activities in nations such as India, China, & Southeast Asia contribute significantly to the growth of the market in the Asia Pacific region. Hence, the global concrete floor coating market is set to experience substantial growth led by both infrastructural developments & eco-friendly approaches.
Market Dynamic
The Concrete Floor Coating Market is observing significant growth, led by the increase in construction activities & the increasing utilization of coatings in several residential, commercial, & industrial, sectors. Among the regions, countries in Asia-Pacific stand out as a major contributor to the market, thanks to its abundant resources & high purchasing power, which are anticipated to fuel the regional market's growth in the foreseeable future.
To adhere to strict environmental policies & regulations in North American nations such as the United States, manufacturers in coating sectors are witnessing restrictions because of the combustible & carcinogenic nature of solvents utilized in several coatings. Therefore, coatings that are powder-based have gained huge popularity as they do not contain solvents & do not emit VOCs, addressing air pollution concerns and hence complying with eco-friendly practices.
Among the major used product types for the concrete floor coatings market include epoxy, polyurethane, polyaspartic, and acrylic addressing several requirements & their usages in various end-use industries worldwide. The product analysis of acrylic, epoxy, polyurethane, polyaspartic, & other coating types, with epoxy coatings present in various forms such as solvent-borne, solids, & water-based types. On similar lines, encompass solvent-based, moisture-cure, water & solid-based coatings, while other products include polyuria-based coatings. On the whole, the versatility & the rising popularity of environment-friendly powder coatings of epoxy, polyurethane, polyaspartic, & acrylic coatings are key drivers boosting the growth of the Concrete Floor Coating Market.
Research Scope and Analysis
By Product
The epoxy segment dominates the concrete floor coating market, with a maximum share in 2023. The epoxy segment's prevalence can be credited to its outstanding features, such as impressive chemical & heat resistance, efficient electrical insulation, & strong adhesion.
Moreover, the epoxy concrete floor coatings are economical as compared to other coatings, due to their budget-friendly feature, their growth can be significantly observed. Additionally, the polyaspartic segment is anticipated to grow with a high CAGR for the period of 2023-2032. Polyaspartic coatings provide a wide range of temperature performance & several properties like high UV stability, making them increasingly popular. These coatings are known for their flexibility, abrasion resistance, surpassing epoxy coatings, & they are not sensitive to moisture like polyurethanes. The convenience of using one-coat solutions that cure rapidly & perform well has led to a shift towards polyaspartic coatings, replacing traditional two-layer epoxy-based coat & urethane topcoat systems, thus fueling the demand for polyaspartic coatings.
By Application
The segment of indoor, dominates the concrete floor coating market, with a maximum share in 2023. This dominance can be ascribed to the rising desire for indoor flooring solutions across several sectors. However, the segment of outdoor is expected to grow with the fastest CAGR in upcoming years. The rising prominence of sports like rugby, football, ice hockey, & tennis in Canada & United States has led to a rise in the development of sports stadiums & arenas, driving the demand for such coatings in the outdoor segment. The demand for resilient & high-performing flooring systems in outdoor sports venues is anticipated to drive this sector’s growth.
The concrete floor coating market has been further segmented based on indoor & outdoor applications. The segment of indoor application has found various uses in the food & beverage sector, where concrete floor coatings act as acidulants & flavoring agents. furthermore, they also serve as food preservatives, acidity controllers & pharmaceutical excipients, showing their wide acceptance range & significance in several sectors. Additionally, concrete floor coatings play an important role as active components in alkyd resins, & precursors to polyesters further propelling their scope. Given the wide array of applications & the potential for growth across diverse sectors, key players are well-positioned to capitalize on the increasing need for concrete floor coatings, for indoor and outdoor usage.
The Global Concrete Floor Coating Market Report is segmented on the basis of the following:
By Product
- Epoxy
- Polyaspartic
- Polyurethanes
- Acrylic
- Others
By Application
Regional Analysis
Asia Pacific dominates the concrete floor coating market, with a substantial share of 39.8% in 2023. This dominance can be majorly credited to the burgeoning construction sector globally. However, the recent COVID-19 pandemic badly impacted the supply chain, leading to disruptions in the international trade of raw materials & shipping of manufactured goods. Additionally, financial instability & poor economic situations globally have led to a decline in construction activities, potentially impacting the demand in the market in the upcoming years.
In spite of these obstacles, a favorable economic forecast & financial growth in the non-residential & residential construction sectors present ample substantial growth prospects for contractors, manufacturers, & service providers globally. Nevertheless, the market's stability faces significant threats because of uncertainties related to trade connections with the United States & potential risks associated with Canada's elevated household debt.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Competition in the industry is driven by companies' efforts to expand their product offerings and maintain high product quality. A notable example is Seal for Life Industries, a subsidiary of Arsenal Capital Partners, which made strategic acquisitions in 2022. The company acquired Verdia, Inc. and Mascoat Ltd., bolstering its position in the global infrastructure sector by adding sealing solutions and protective coatings to its portfolio. Mascoat Ltd. specializes in thermal insulation coatings, while Verdia, Inc. offers polyurethane concrete flooring systems and formulations for polyaspartics, epoxies, and polyurethane.
Another instance of market dynamics is Tennant Company's move in February 2021. The company completed the sale of its coatings business, Tennant Coatings, to The Sherwin-Williams Company, demonstrating how companies optimize their portfolios to stay competitive. In addition to established players, emerging companies like Trucrete Surfacing Systems and Vanguard Concrete Coating compete in local markets, offering specialized products and competitive pricing. Local players are expected to experience growth in the U.S. over the forecast period, thanks to their dedicated service and flexibility. This competition among various players contributes to a dynamic and evolving market landscape.
Some of the prominent players in the Global Concrete Floor Coating Market are:
- RPM International, Inc.
- Tennant Coatings
- Truecrete Surfacing Systems
- BASF SE
- The Sherwin-Williams Company
- North American Coating Solutions
- Jotun
- Stonhard
- Key Resin Company
- Vanguard Concrete Coating
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Concrete Floor Coating Market:
The COVID-19 pandemic and the subsequent global recession had a notable impact on the global concrete floor coating market. The pandemic-induced lockdowns and restrictions led to a slowdown in construction activities and a decrease in demand for concrete floor coatings as new projects were delayed or put on hold. The economic uncertainties during the recession also affected consumer spending and business investments, further impacting the market's growth. However, as the world adapted to the new normal, there was a growing emphasis on hygiene and safety measures, leading to increased demand for antimicrobial and easy-to-clean concrete floor coatings. As economic activities resumed and industries sought to renovate and upgrade existing infrastructures, the market showed signs of recovery, indicating resilience and potential for growth in the post-pandemic era.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 5,030.2 Mn |
| Forecast Value (2032) |
USD 8,367.6 Mn |
| CAGR (2023-2032) |
5.8% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Epoxy, Polyaspartic, polyurethanes,
Acrylic, and Others), By Application (Outdoor, and
Indoor). |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
RPM International Inc., Tennant Coatings, Truecrete
Surfacing Systems, BASF SE, The Sherwin-Williams
Company, The Sherwin-Williams Company, North
American Coating Solutions, Jotun, Stonhard, Key
Resin Company, Vanguard Concrete Coating, and
Other Key Players. |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |