The U.S. concrete floor coatings market is projected to reach approximately USD 1.15 billion by 2025, according to a new report conducted by Grand View Research, Inc. The improvement in the U.S. housing sector as a result of increasing number of single-family homes on a domestic level is expected to drive the market. However, gains in the automotive manufacturing industry as a result of increased exports of four wheeler vehicles from developing countries including Brazil, South Africa, India and Thailand is expected to increase the penetration of flooring in production facilities over the next eight years.
Epoxy coatings are projected to grow at a CAGR of 6.0% from 2017 to 2025. The high adoption rate of these types of coating in flooring industry on account of providing excellent properties including improved durability and superior toughness is projected to have a significant impact over the next eight years
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Further key findings from the report suggest:
U.S. concrete floor demand was 214.1 kilo tons and is anticipated to reach 371.1 kilo tons by 2025, growing at a CAGR of 6.3% from 2016 to 2025.
Polyurethane coatings market is expected to reach USD 268.3 million by 2025. These product segments are anticipated to witness growth due to their unique properties including superior resistance to corrosion, abrasion and chemical exposure.
Polyaspartic products are likely to foresee low penetration on account of increasing industry presence of epoxy and polyurethane counterparts. These products are expected to anticipate gains on account of inducing fast curing and drying which is projected to improve their penetration over the forecast period
Commercial applications are scheduled to foresee most rapid volume growth at a CAGR of 6.6% from the period of 2017 to 2025. The share of green buildings in the U.S. is likely to be the highest in educational and healthcare institutions by the end of 2025 owing to promotion and adoption of health safety policies in these sectors. The trend mentioned above is expected to play a crucial role in increasing the usage of floor coatings.
Major manufacturers include The Stonhard Group, Sika, BASF, General Polymers, Tennant Company, Valspar, Pratt & Lambert Paints, Vanguard Coating, Behr Process Corporation, and Epmar Corporation. New product developments along with the formation of strategic alliances with buyers located in flooring industry are expected to remain critical success factor over the next eight years.
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)
U.S. Concrete Floor Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
U.S. Concrete Floor Product Outlook (Volume, Million Square Feet; Revenue, USD Million; 2014 - 2025)
U.S. Concrete Floor Application Outlook (Volume, Million Square Feet; Revenue, USD Million; 2014 - 2025)
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