Concrete floor coatings have the ability to exhibit excellent resistance to wear, tear, abrasion, and heat. Gaining popularity of epoxy resins on account of exhibiting excellent mechanical properties and high heat resistance is expected to play an important role in driving the concrete floor coatings market in the near future. Additionally, growing awareness towards floor coatings is expected to have a positive impact on the market in the near future. The positive construction industry outlook in BRICS on account of increasing government expenditure on infrastructure improvement is expected to drive the concrete floor coatings market. Governments of various countries in the Middle East have started increasingly removing their reliance on the oil & gas industry and are in place focusing on the development of other sectors such as infrastructure, manufacturing, and power. As a result, Saudi Arabia, UAE, and Oman have increased their spending on infrastructure improvement, which is expected to augment concrete floor coatings market demand in indoor and outdoor applications in the near future.
Growing powder coatings demand coupled with the emergence of epoxy flooring as an eco-friendly alternative is expected to have a positive impact on the concrete floor coatings market over the next six years. EPA and European Commission have passed numerous regulations for restricting the use of coatings comprising of VOCs (Volatile Organic Compounds). This, in turn, is expected to hamper the concrete floor coatings market growth. Advancement in hydraulic fracturing resulted in an increased supply of oil & gas, which would ensure raw material availability for the manufacturing of concrete floor coatings in the near future. In April 2012, DSM and Empresa Brasileira de Biotechnologia (Ebrabiotech) signed an agreement to launch bio-based concrete floor coatings. This development is expected to facilitate other market players to pursue their efforts on bio-based concrete coatings.
Epoxy-based concrete floor coatings were one of the largest segment, accounting for more than 50% of market volume in 2013. Epoxy is expected to remain the dominant segment of the concrete floor coatings market over the next six years on account of its high demand due to low cost. Polyaspartic concrete floor coatings are expected to be one of the most promising product segment on account of offering better UV protection, wear, and abrasion resistance. Other products types used in the market include acrylic and polyurethane coatings. Development of biopolymers such as bio-polyurethane is expected to open new market opportunities for polyurethane coatings market over the next six years.
Indoor applications dominated the concrete floor coatings market, accounting for more than 50% of global volume in 2013. Concrete floor coatings were majorly used in indoor applications, accounting for more than 50% of market volume in 2013. The growing application scope of floor coatings in industrial and commercial applications on account of providing heat and wear resistance is expected to drive market demand in indoor applications over the next six years. The increasing use of concrete floor coatings in outdoor locations such as basements, garage floor, stairs, and walkways is expected to fuel concrete floor coatings demand in outdoor applications.
Asia Pacific is expected to be one of the largest markets owing to the growth of the construction industry in India and China over the next few years. Governments of China and India have emphasized infrastructure development as a part of their 12th Five Year Plans, which would have a huge impact on the concrete floor coatings market. Raw material availability of epoxy resins is expected to augment market growth in the near future. Infrastructure development in Mexico owing to industrial growth in the automobile and oil & gas sectors is expected to have a positive impact on the concrete floor coatings market in North America. Infrastructure development in Brazil on account of implementation of the Growth Acceleration Program (PAC) coupled with upcoming sports events such as Summer Olympics 2016 is expected to open new market opportunities.
Global concrete floor coatings market was dominated by BASF, Sherwin Williams, PPG, DSM, RPM International, and Valspar Corporation. A majority of the market players have started focusing on expanding production capacity at their located in Asia Pacific due to indoor and outdoor application growth. The Indian government’s Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) policy intended for promoting petrochemicals and chemicals production is expected to open new market opportunities over the next six years.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.