Based on a report by Grand View Research, Inc.; the global concrete floor coatings market is anticipated to witness a rapid growth during the forecast years (from 2014 to 2020). Concrete floor coatings have excellent resistance to abrasion, heat, and wear & tear. It can be applied indoor as well as outdoor areas in commercial and residential buildings. Increased demand for coatings as a protective medium in the floorings sector is anticipated to be a key growth driving factor for the global market over the coming years.
Rising popularity of epoxy resins due to their high heat resistance and mechanical properties is also likely to be one of the key factors responsible for the expansion of the market. In addition, high consumer awareness about floor coatings is also estimated to have a major impact on the overall market in the forthcoming years.
Full Research Report On Concrete Floor Coatings Market Analysis: https://www.grandviewresearch.com/industry-analysis/concrete-floor-coatings-market
Furthermore, governments across various countries from the Middle East region seem to have stopped depending on the oil and gas sector and are increasingly focusing on the development of other industries such as power, infrastructure, and manufacturing. As a result, various countries in the region have increased their expenditure on infrastructure development, which in turn is expected to augment the overall demand in outdoor and indoor applications.
High demand for powder coatings along with the introduction of epoxy flooring as an environment-friendly alternative is also expected to impel the concrete floor coatings market in near future. The global concrete floor coatings market is categorized as per product type, application, and region. On the basis of product, the market is bifurcated into polyaspartics and epoxy. On the basis of application, the market is segregated into outdoor and indoor.
On the basis of geographies, the market is divided into North America, Asia Pacific, and Rest of the World (RoW). The Asia Pacific region is predicted to be one of the biggest regional markets for concrete floor coatings over the next few years. Governments of various economies in this region, such as India and China, are focusing on infrastructural development as part of 12th and 13th Five Year Plans respectively. This factor is expected to have a positive impact on the regional expansion through 2020. In addition, easy availability of raw materials of epoxy resins may also spur the regional market over the coming years.
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United States may continue dominating the North America region with maximum revenue generation during the forecast period. High penetration of production plants of food and beverages, Fast-moving consumer goods (FMCG), pharmaceuticals, and other such industries in the US is one of the key factors responsible for the increased product demand in the region.
On the other hand, Mexico is predicted to register the fastest growth in near future on account of the factors such as rapid growth in population, urban development, and high consumer disposable income. Infrastructural developments in Mexico and swift industrial growth in oil and gas and automotive sectors are also anticipated to boost the concrete floor coatings market in this region. In addition, regulatory inclination in the region to support the development of petroleum and chemical segments at a domestic level is expected to present new growth opportunities for the market during the estimated period.
Some of the top companies operating in the global concrete floor coatings market include The Valspar Corp.; The Sherwin-Williams Company; BASF SE; PPG Industries, Inc.; and RPM International Inc. Most market players focus on expanding their production capacities in order to gain maximum share. for instance, The Sherwin-Williams Co. recently launched a new polyaspartic floor coating, the General Polymers GP4850 Polyaspartic Floor Coating SS.
According to the company, the new product is ideal to be used in airplane hangars, manufacturing facilities, and several other areas, where impacts and abrasions are common. The new specially formulated coating can also be used for flooring in restrooms and showrooms. The company also mentioned that their new product possesses improved features such as high chemical resistance, better flow and leveling properties, low-temperature curing and ultraviolet rays (UV) stability, and mechanical strength.
Browse related reports by Grand View Research:
- Acrylic Surface Coating Market- https://www.grandviewresearch.com/industry-analysis/acrylic-surface-coating-market
- Bio-based and Low VOC Paints Market- https://www.grandviewresearch.com/industry-analysis/bio-based-low-voc-paints-market
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