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Concrete Floor Coatings on the Rise

Wednesday, October 21, 2015

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A growing awareness of concrete floor coatings combined with increased construction activity throughout the world are expected to grow the concrete floor coatings industry over the next five years, according to a recent marketing study.

The study, Concrete Floor Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020, by Transparency Market Research, says the compound annual growth rate (CAGR) of the industry will increase by 6.8 percent during that time.

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In terms of revenue, the global concrete floor market is expected to reach nearly $1.18 billion by 2020, according to a new marketing report from Transparency Market Research.

In terms of revenue, the global concrete floor market is expected to reach nearly $1.18 billion by 2020, according to the report. That’s up from about $745 million in 2013.

Market Segments

Epoxy-based concrete floor coatings make up the largest market segment both in terms of volume and revenue, the report notes. In 2013, epoxies had a greater than 50 percent share of the overall market. It’s followed by polyaspartics in the second spot and then by all others (such as polyurethane, acrylics and other smaller market segments).

Although North America dominates the regional segment of the market, growth in urbanization and population in the Asian Pacific market accounts for a strong market as well. In 2013, the Asian Pacific market accounted for 29 percent overall, the report notes. The recovering construction industry in developed countries—including the U.S., where the industry has seen a more recent surge—has been another important factor in the growing concrete floor coating market.

Indoor use (such as residential floor coatings, commercial floors, industrial floors and restraints) take more than 50 percent of the market share over outdoor concrete floor coatings, according to the report. The importance of floor coatings, particularly in the commercial and industrial sectors, has led to this increased indoor demand.

Because most concrete floor coatings are petroleum-based, the volatility in prices and supply variations puts added pressure on manufacturers, the report notes. This opens the opportunity for bio-based floor coatings in the near future.

Transparency Market Research

North America dominates the regional segment of the market, but growth in urbanization and population in the Asian Pacific accounts for a strong market, too.

Key players in the market include BASF SE, Sherwin-Williams, DSM, RPM International Inc., The Valspar Corporation and PPG Industries. The report notes that most of the companies involved in concrete floor coatings also manufacture other coatings or construction-related products. This helps companies focus on customer retention and offering quality products, which has been the recent trend.

Data Analysis

Transparency Market Research said it derived its study of the concrete coatings market by analyzing the product value chain from feed stock through end-use. It also used Porter’s five forces model, which analyzes the degree of competition in the market by considering bargaining power of both buyers and suppliers and the threat from substitute products and new entrants.

The report uses USD exchange rates as of 2013 and does not take inflation into account, the marketing company said.

   

Tagged categories: BASF; Concrete coatings and treatments; Concrete floor coatings; DSM Functional Coatings; Market; Market forecasts; Market research; Market trends; PPG; RPM; Sherwin-Williams; Valspar

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