Global Concrete Floor Coatings Market 2024 – 2033

Reports Description

According to Custom Market Insights (CMI), The Global Concrete Floor Coatings Size was valued at USD 5.8 billion in 2021 and expected to reach USD 6.7 billion in 2022 and is estimated to reach USD 8.3 billion by the end of 2030 at a CAGR of approximately 6.5% during the forecast period 2022-2030. Concrete floor coatings are also identified as protective coatings. Generally, concrete floor coatings are exhibited in a liquid and semi-solid form which are applied to cure concrete and enhance the durability and aesthetic looks of floorings.

Concrete floor coatings possess various properties such as it is resistant to water, chemical, flame, UV, colour, and gloss. Owing to these properties it has a wide range of applications in various end-use industries that including automotive, textile, residential, commercial, medical, and others.

The global concrete floor coatings market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby, increasing the production capacity of concrete coatings thus, driving market growth by catering to the need of various end-use industries.

Growth Factors

Increasing demand from the building & construction sector acts as one of the key factors responsible for the growth of the global concrete floor coatings market. Concrete floor coatings are preferred over conventional coatings materials due to their low volatile organic content and water retention capacity.

Concrete floor coatings are used extensively in the construction sector as it is resistant to corrosion, water, flame, chemical spill, and others. For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025. In response to this, polysiloxane-based concrete floor coatings are used predominantly in the building infrastructure for protecting them against corrosion, acid rains, chemical spills, and others. These factors are anticipated to increase the demand for concrete floor coatings in the construction sector.

Furthermore, proliferating growth of residential and commercial infrastructure development across the globe has surged the demand for the concrete floor coating market during the forecast period.

The Automotive sector has witnessed significant growth in the concrete floor coatings market. The growing adoption of automotive displays, human-machine interfaces, and automated systems are being embedded in luxurious cars by several key manufacturer players including TATA Motors, Mahindra, Hyundai, Tesla, Ford, Audi, and others. Concrete floor coatings are majorly employed in the garage. These coatings possess various properties such as thermal insulation, anti-fingerprint, resistant to corrosion, and others. Thus, the growth of the automotive sector will drive the demand for concrete floor coatings in the upcoming years. 

Concrete floor coatings Market Segmentation.

Concrete floor coatings Market, segmented by Product

Depending upon the types, the concrete floor coatings market is segmented into epoxy, polyaspartic, acrylic, and polyurethane.

The epoxy product segment dominated the market in 2021 and is expected to grow over the forecast period with 42% of the total market share.  Epoxy concrete floor coatings are extensively used in building materials, automotive, electronics, medical devices, and others. It provides a high-performance, smooth, economical, and durable surface that can last many years and withstand heavy loads. Additionally, it maintains the shiny look of vehicles in the automotive sector due to which the demand for epoxy-based concrete coatings has escalated in the market.

In addition, the growing global population, change in lifestyle, and increased focus on hygienic activities have enhanced the demand for concrete floor coatings which it is extensively used in the medical sector, household appliances, and commercial & residential sector. These factors are escalating the demand for epoxy based-concrete floor coatings during the forecast period.

Furthermore, the polyaspartic and polyurethane segment is expected to show a significant growth rate during the forecast period.

Concrete floor coatings Market, a segment based on the Application

Based on application, the global concrete floor coatings market is studied indoors and outdoors. It is expected that the global indoor application segment is expected to generate 1,110 million in revenue and is anticipated to hold a dominant position during 2022 -2031.

This is attributed to the fact that the growing population across the globe, the increase in the demand for building & construction, and exponential growth in the commercial and residential sectors have escalated the demand for concrete floor coating in indoor applications. Mainly it is applied in the indoor application of household, residential, and commercial buildings for meaningful aesthetic looks and it is cheap and resistant to corrosion, heat, water, UV, and others have enhanced the demand for concrete flooring coating in indoor applications.

Concrete floor coatings Market, a segment based on En-User

Based on application, the global concrete floor coatings market is studied across residential, commercial, industrial, and others. It is expected that the global residential end-user segment to hold a dominant position during 2022 -2031 with a total share of 46%.

The residential end-user industry dominates the concrete floor coatings market and is expected to remain the dominant segment during the forecast period. Concrete floor coatings are considered a high-performance material that is widely employed in residential construction activity for protecting the infrastructure from UV radiation, sunlight, corrosion, and other factors. In addition, the growing population across the globe, rapid urbanization, and industrialization have witnessed significant growth in the concrete floor coatings market. It is extensively used to maintain the aesthetic looks of flooring and protect the floors from oil, stain, and abrasion. These factors are anticipated to increase the potential sales of the concrete floor coatings market over the outlook period.

Furthermore, the industrial and commercial sector has shown positive growth over the outlook period. This is because rising commercial and industrial activities across the globe, increase the disposable income among people, and maintain the aesthetic look of floors, to protect the flooring from abrasion, and heavy surface wear. These factors are supporting the overall growth of the concrete floor coatings market.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD 5.8 Billion
Projected Market Size in 2030	USD 8.3 billion
CAGR Growth Rate	6.5% CAGR (2022-2030)
Base Year	2023
Forecast Period	2024-2033
Prominent Players	BASF SE, The Sherwin-Williams Company, Akzo Nobel N.V., ArmorPoxy, RPM International Inc., Axalta Coating Systems, Ltd., Sika AG; PPG Industries, Inc., 3M, The Lubrizol Corporation, Trucrete Surfacing Systems, BEHR Process Corporation, PPG Industries, Tennant Coatings, and Others
Key Segment	By Product, Application, End User, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfill your requirements for research. Examine possible purchases

Regional Insights

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the dominant region in the concrete floor coatings market and accounted for 54% of the total market share during the forecast period.  The utilization of concrete floor coatings has increased in the sectors such as building & construction, automotive, electronics, and others are key market trends in the Asia-Pacific region.

The building & construction sector is one of the booming sectors in the Asia-Pacific region. For instance, according to an article published by Invest India in August 2022, the construction Industry in India is expected to reach $1.4 Tn by 2025 due to a robust increase in the urban population which will significantly enhance the demand for concrete floor coatings where it gives protection to infrastructure during the uncertain weather conditions. It is also used for protecting the windows & doors, and floor slab surface from rain, moisture, UV radiation, and others.

 Moreover, China is the topmost producer of electric vehicles in the world where concrete floor coatings are widely employed in sealing systems, interior roof panels, and other automotive parts as a glassifying agent and anti-corrosion agent which propel the market growth.

In addition, countries such as Japan and Taiwan are constantly engaged in expanding their electrical & automation manufacturing output where concrete floor coatings are widely employed as a protecting material in various electrical & electronic products. For instance, according to a report published by Hennessy Funds, Japan accounts for around 30% market for supplying factory automation products in the world.  These factors are escalating the demand for concrete floor coatings in the Asia-Pacific region.

Also, the region has well-established in the industrial and commercial sectors where the demand for concrete floor coatings has increased in the industrial sector as a protecting agent.

This North America and Europe region is also anticipated to maintain its dominance throughout the forecast period. Countries such as Germany, the UK, the U.S., Canada, and Mexico have significant contributions to the growth of the concrete floor coatings market in the region.  Key factors for the growth in the North American region are growing residential, industrial, commercial sectors, electronics, and other end-use industries where concrete floor coatings are used as protecting agents and anti-corrosion material.

Key Players

• BASF SE
• The Sherwin-Williams Company
• Akzo Nobel N.V.
• ArmorPoxy
• RPM International Inc.
• Axalta Coating Systems, Ltd.
• Sika AG; PPG Industries, Inc.
• 3M
• The Lubrizol Corporation
• Trucrete Surfacing Systems
• BEHR Process Corporation,
• PPG Industries
• Tennant Coatings

COVID-19 Analysis

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The guidelines and policies of the logistics and supply chain of the concrete floor coatings products were affected remarkably.

In addition, the falling income of customers has led to a contraction in the demand for concrete floor coatings products from the construction, textile, automotive, electronics, aerospace, and other end-use industries during the COVID-19 period. The COVID-19 pandemic has negatively affected the overall market and supply chain. In the first quarter of COVID-19, there is a complete shutdown of transportation, logistics & supply chain activity, and manufacturing activities hampered the concrete floor coatings market growth in April 2020.  Moreover, declining sales in the automotive sector during 2020 have halted the growth of the concrete floor coatings market. However, the vaccination programs and lifting of lockdowns are expected to propel the concrete floor coatings market growth in 2021.

 In addition, as the restrictions imposed due to lockdowns are being lifted in the fourth quarter of the pandemic, the building & construction, automotive, aerospace, electronics, and, manufacturing sector is expected to recover soon owing to the record of concrete floor coatings production unit in both developed and developing economies.

Segments covered in the report

By Product

• Epoxy
• Polyaspartic
• Acrylic
• Polyurethane

By Application

• Indoor
• Outdoor

By End User

• Residential
• Commercial
• Industrial
• Others

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America