The Concrete Floor Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Concrete Floor Coatings Global Market Report 2024, The concrete floor coatings market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased commercial construction projects, growth in design trends and aesthetics, increased demand for maintenance and durability, increased environmental and sustainability concerns, increased need for renovation and replacement needs
The concrete floor coatings market size is expected to see strong growth in the next few years. It will grow to $2.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to circular economy practices, emerging market demand, growing need for resilient and low-maintenance flooring, safety and slip resistance requirements, growing real estate
Major trends in the forecast period include flooring material innovation, advanced flooring installation methods, technological advancements, innovative solutions, and strategic collaborations.
The rise in building, construction, and renovation projects is expected to propel the growth of the concrete floor coating market. A renovation project is the process of restoring or renovating a structure, whereas a new construction project is the construction of a structure or building from the ground up. Concrete floor coatings are often used in commercial, industrial, and residential construction and renovation activities to create high-performance, smooth, durable surfaces with a long operational life and the capability 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 rise in building, construction, and renovation projects is driving the concrete floor coating market growth.
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The concrete floor coatings market covered in this report is segmented –
1) By Products: Epoxy, Polyaspartic, Acrylic, Polyurethane, Other Products
2) By Component: One-component, Two-component, Three-component, Four-component
3) By Application: Outdoor, Indoor
4) By End-Use Sector: Residential, Commercial, Industrial
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 August 2023, HMG Paints Ltd., a UK-based paint manufacturer, launched a new product, HydroPro Floor Paint, which is a water-based floor paint designed to transform floor finishing with its cross-linking formulation that ensures exceptional durability and a superior finish for both internal and external applications. HydroPro Floor Paint offers a unique formula that combines the strength of cross-linking technology with the convenience of water-based application.
The concrete floor coatings market report table of contents includes:
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