North America concrete floor coatings market is expected to reach USD 1.01 billion by 2020, according to a new study by Grand View Research, Inc. Construction industry growth in the U.S. post the Great Recession in 2008 - 2009, along with expansion of the domestic aerospace and energy sectors are anticipated to fuel concrete floor coatings demand over the forecast period. Introduction of the “National Infrastructural Plan (NIP)” by the government of Mexico, which is aimed at promoting residential and commercial infrastructure, is likely to augment market growth. The government plans to invest USD 590 billion over a period of four years between 2014 and 2018.
Indoor was the largest application segment, accounting for over 60% of the North American concrete floor coatings market volume in 2013. Housing sector growth in the U.S. and Canada is anticipated is expected to fuel concrete floor coatings demand in indoor applications over the forecast period. However, outdoor coatings are anticipated to witness fastest growth over the next six years owing to new product launches at competitive prices. Furthermore, rising consumer awareness regarding protection of exteriors to boost life span of the structure is expected to drive market growth during the projected period.
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Further key findings from the study suggest:
North America concrete floor coatings market demand was 214.3 kilo tons in 2013 and is expected to reach 329.0 kilo tons by 2020, growing at a CAGR of 6.3% from 2014 to 2020
Epoxy dominated the North America concrete floor coatings market, accounting for over 50% of the overall volume in 2013. Low cost of epoxy resin as compared to its counterparts is anticipated to have a positive impact on market growth in the near future.
Polyaspartics concrete floor coatings are expected to witness fastest growth over the forecast period owing to their superior properties including U.V. protection, fast curing and high temperature range
U.S. was the largest concrete floor coatings market in 2013, accounting for over 80% of regional volume share. Robust infrastructure development of commercial and residential structures in the U.S. is anticipated to fuel concrete floor coatings market demand. High prevalence of numerous manufacturing industries including automotive, FMCG, pharmaceutical, food & beverage and oil & gas sectors in the U.S. is expected to promote demand for concrete floor coatings over the forecast period.
North America concrete floor coatings market was dominated by four companies’ viz., Sika, BASF, General Polymers and Stonhard together accounting for over 40% of total market share in 2013. Other market participants include PPG, Tennant Company, Pratt & Lambert Paints, Elite Crete System, Behr Process Corporation, Bayer and DuPont
Grand View Research has segmented the North America concrete floor coatings market on the basis of product, application and region:
North America Concrete Floor Coatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
North America Concrete Floor Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
North America Concrete Floor Coatings Country Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
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