U.S. Concrete Floor Coatings Market By Product, By Application And U.S. Concrete Floor Market By Product, By Application, And Segment Forecasts, 2014 - 2025Report

U.S. Concrete Floor Coatings Market By Product, By Application And U.S. Concrete Floor Market By Product, By Application, And Segment Forecasts, 2014 - 2025

Published: August 2017  |  85 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-554-0

Industry Insights

The U.S. concrete floor coatings market was valued at USD 645.9 million in 2016. Rising demand for coatings as a protective medium in flooring sector is projected to remain a favorable factor.

Concrete floor coatings finds applications on account of exhibiting excellent resistance against wear & tear in residential and commercial buildings. The increment in the U.S. construction sector post the great recession of 2008 - 2009 coupled with the positive outlook towards petroleum sectors are anticipated to increase the demand for concrete floors and thus in turn will have positive impact.  

U.S. concrete floor coatings market, by product, 2014 - 2025 (USD Million)

U.S. concrete floor coatings market

Rising production output of shale gas and tight oil in the U.S. and Canada is expected to ensure availability of petrochemicals for the production of raw materials such as acrylic monomer and aliphatic resins. However, growing demand for epoxy resin in the manufacture of adhesives & sealants on account of its high water resistance and low cure shrinkage is likely to restrict its availability for the production of concrete floor coatings.

In April 2015, Florock Polymer launched two new products including, Floropoxy 4900 and Floropoxy 4900 V, which are aimed for providing high-performance protection for horizontal and vertical applications. The company used nanotechnology which resulted in ensuring convenience and potential savings to buyers.

Construction industry in the country can be subdivided into three segments, which include residential, commercial, and non-building facilities. Growth in demand for residential structures are expected to witness significant growth owing to shifting trend towards nuclear families along with reduction in prices of new houses in the U.S. is expected to have a positive impact.

Non-residential structures are segmented on the basis of such as shopping complexes, corporate offices, transportation, and communication facilities. These types of structures were valued at USD 331.48 billion in 2011 and it reached USD 377.36 billion in 2014. Recovery of industrial sectors in the U.S., post-recession, is anticipated to have a positive impact on the construction industry. In addition, increasing penetration of retail stores such as supermarkets is anticipated to promote demand for non-residential structures.

Green buildings provide excellent cost-effective benefits as compared to conventional structures. These sustainable buildings use one-third of the amount of energy, reducing the overall load on metal structures, and are capable of improving the indoor air quality standards. Rising demand for green buildings in the U.S. is expected to increase usage of coatings in concrete floors.

Product Insights

Epoxy concrete floor coatings was accounted for 58.5% of North America market in 2016. These products exhibit superior properties such as excellent adhesion, chemical and heat resistance and good electrical insulating properties.

EPA has framed numerous directives intended for reducing GHG emissions, which is anticipated to restrict the application scope of hazardous chemicals. Epoxy concrete floor coatings contain polycarbonate which is declared as hazardous by EPA. This inclination towards restricting VOC emissions coupled with growing awareness towards eco-friendly alternatives such as powder coatings is anticipated to challenge market growth over the forecast period

Polyaspartic concrete floor coatings have the ability to perform at a wide range of temperature from -30 Fahrenheit to 140 Fahrenheit, with high UV stability and fast curing properties. These product segments are expected to foresee revenue growth at a CAGR of 8.4% from 2017 to 2025.

Other concrete floor coatings including polyurea is expected to account for 14.5% of global share by the end of 2025. Polyurea coatings are capable of providing numerous benefits including fast setting time, resistance to extreme atmospheric conditions, high elongation and tensile strength.

Application Insights

Commercial application is expected to account for 55.9% of the market by 2025. Improvement in manufacturing sectors including automotive, and oil & gas in the U.S., as a result of increasing application on a domestic level, is expected to upscale the requirements of coatings.

Residential application accounted for 45.5% of total share in 2016 and is expected to witness growth as a result of rising number of single-family houses in the U.S. post the great recession of 2008-2009.

Concrete Floor Product Insights

Polished concrete floors accounted for 54.0% of the U.S. market share in 2016. Huge reductions in annual maintenance costs, light reflectivity and ensuring aesthetics are expected to remain key attributes for keeping the high market share for polished concrete floors in the near future.

Coated concrete floors are expected to account for 46.9% of the U.S. market by the end of 2025. Rising demand for coating derived from by water-based and powder based glazes in flooring sector due to changing consumer preference is expected to have a positive impact over the next eight years.

Concrete Floor Application Insights

Commercial was the largest application segment, accounting for 56.1% of the U.S. concrete floor market in 2016. The strong foothold of commercial spaces as well as corporate houses in the U.S. on account of well-established infrastructure, trained workforce and close access to production units on a domestic level is expected to be a favorable trend.

U.S. Concrete Floor coatings market by application, 2016 (%)

U.S. concrete floor coatings market

Competitive Market Share Insights

U.S. concrete floor coatings market was dominated by four companies accounting for 40.4% of total market share in 2016. The concrete floor chemicals manufacturing companies are expected to increasing spending on the development of new products including eco-friendly products. As a result, the companies are likely to collaborate with bio-based polymer processing companies in order to ensure access of feedstock for processing the eco-friendly goods.

Key industry participants include BASF, General Polymers, Sika, Stonhard, PPG, Tennant Company, Pratt & Lambert Paints, and Axalta. The market is expected to be highly competitive as a result of increased penetration of local coating manufacturers.

The strong foothold of leading manufacturers including General Polymers, BASF and Sika in the U.S. flooring industry through the product with good quality and well established networks with buyers is expected to reduce the competitive impact of local as well as prospecting new entrants. Fluctuating price of crude oil and extensive R&D infrastructure are expected to pose a major challenging factor to the industry participants in the near future.

E-commerce portals are expected to be one of the leading selling medium to customers on account of providing favorable benefits including, selling discounts and free delivery. As a result, coating processing companies are expected to increase the spending on the establishment of alliances with e-commerce portal service providers.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2014 - 2025

Market representation

Concrete Floor Coatings volume in Kilo Tons & revenue in USD Million & CAGR from 2017 to 2025

Concrete Floor volume in Million Square Feet & revenue in USD Million & CAGR from 2017 to 2025

Country scope

U.S.

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts volume & revenue growth at country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the U.S. concrete floor coatings market & U.S. concrete floor market on the basis of product and application:

  • U.S. Concrete Floor Coatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

    • Epoxy

    • Polyurethanes

    • Polyaspartics

    • Others

  • U.S. Concrete Floor Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

    • Residential

    • Commercial

  • U.S. Concrete Floor Product Outlook (Volume, Million Square Feet; Revenue, USD Million; 2014 - 2025)

    • Coated

      • Epoxy

      • Polyurethanes

      • Polyaspartics

      • Others

    • Polished

  • U.S. Concrete Floor Application Outlook (Volume, Million Square Feet; Revenue, USD Million; 2014 - 2025)

    • Residential

    • Commercial

Key questions answered by the report
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