U.S. Concrete Floor Coatings Market Size, Share & Trends Report

U.S. Concrete Floor Coatings Market Size, Share & Trends Analysis Report By Product (Epoxy, Polyurethane, Polyaspartics), By Application (Commercial and Residential), And Segment Forecasts, 2020 - 2027

  • Published Date: Feb, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-554-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The U.S. concrete floor coatings market size was valued at USD 298.2 million in 2019 and is projected to register a revenue-based CAGR of 7.0% over the forecast period. Rising demand for coatings as a protective medium in the flooring sector is projected to remain a favorable factor. Concrete floor coatings are used for providing high-temperature resistance to indoor and outdoor areas as well as for protecting floors in commercial and residential buildings against wear and tear. These coatings are also used for providing protection to the floors of non-building structures in power, metal, and environmental protection industries.

U.S. concrete floor coatings market size

Growth of the U.S. construction sector coupled with the positive outlook toward manufacturing sectors is other factors anticipated to drive the demand for concrete floors and thus in turn positively influence the market growth. Furthermore, rising demand for residential, non-residential, and commercial structures is anticipated to help boost the consumption of effective flooring solutions for providing wear and tear, corrosion, and thermal resistance.

Growing construction spending in the U.S owing to economic development is anticipated to drive the demand for concrete floor and coatings in near future. The country is characterized by a low-risk environment, a stable economy, and a robust financial sector. These factors have provided a multitude of opportunities for investors in recent years and are likely to trigger infrastructure spending in near future. This, in turn, is projected to positively impact the product demand from the construction industry.

The U.S. government has passed numerous regulations to improve the infrastructure including water supply systems at a domestic level for environmental protection. For instance, in October 2018, the U.S. Senate approved America’s Water Infrastructure Act. The bill focuses on new water projects that will be carried out by the Army Corps of Engineers and includes several provisions directly addressing the drinking water infrastructure. As a result, non-building structures, such as waste disposal and water supply systems, in U.S. are anticipated to foresee an increased demand for concrete floor coatings.

However, a rising threat from substitutes such as hardwood, tiles, marble, and flooring is anticipated to hamper the market growth over the forecast period. There has been a growing demand for wood, tiles, and marble among residential and commercial applications as these flooring solutions are easier to install and require relatively lesser skilled labor for the installation as compared to concrete floors.

Concrete Floor Coatings Product Insights

Epoxy concrete floor coatings accounted for over 40.90% revenue share of U.S. concrete floor coatings market in 2019. These products exhibit excellent adhesion, heat and chemical resistance, and favorable electrical insulation properties, contributing to their increased popularity. In addition, the lower cost compared to their counterparts is expected to have a favorable impact on the growth over the forecast period. However, these coatings are ineffective against UV exposure, since the UV light reacts with the coated surface to form radicals. This factor is expected to hamper the market growth in the near future.

The Environmental Protection Agency (EPA) has framed numerous directives intended for reducing Greenhouse Gas (GHG) emissions, which is anticipated to restrict the application scope of hazardous chemicals. Epoxy concrete floor coatings contain polycarbonate which is declared hazardous by EPA. This inclination toward restricting volatile organic compounds (VOC) emissions coupled with growing awareness regarding eco-friendly alternatives such as powder coatings is anticipated to challenge market growth over the forecast period.

Polyurethane concrete floor coatings are available in both solvent- and water-based formulations. These coatings offer high flexibility and abrasion, corrosion, and wear resistance, thus, paving their way for use as flooring solutions in residential, commercial, and non-building structures. In addition, polyurethane coatings have high UV stability, which is anticipated to fuel its demand over the forecast period.

Polyaspartic concrete floor coatings have the ability to perform at a wide range of temperatures from -30° Fahrenheit to 140° Fahrenheit, with high UV stability and fast curing properties. The product segment is expected to foresee a revenue-based CAGR of 6.4% from 2020 to 2027.

Other product segments including polyurea is expected to account for 18.59% of the U.S. market share in terms of revenue by 2027. Polyurea coatings are capable of providing numerous benefits including fast setting time, resistance to extreme atmospheric conditions, high elongation, and tensile strength.

Concrete Floor Coatings Application Insights

The commercial application segment accounted for a volume share of 54.85% in 2019 and is projected to continue leading over the forecast period. Developments in manufacturing sectors including automotive and industrial manufacturing, as a result of increasing application on a domestic level, are expected to upscale the requirements of coatings. The strong foothold of commercial spaces as well as corporate houses in the U.S. owing to the well-established infrastructure, trained workforce, and close access to production units on a domestic level is expected to be a favorable trend for commercial applications.

Residential application accounted for over 46.05% market share in terms of revenue in 2019 and is expected to witness significant growth over the forecast period as a result of the rising number of single-family houses in the U.S. Residential construction sector in the country is primarily is driven by the growth in the single-family housing units. According to the Survey of Construction (SOC) released by the Census Bureau, the U.S. residential sector observed the growth of single-family housing units by nearly 7% in 2018.

Concrete Floor Product Insights

Polished concrete floors accounted for around 53.50% of the U.S. market share in terms of revenue, in 2019. Light reflectivity and aesthetic appeal of the product along with huge reductions in annual maintenance costs are the factors likely to continue driving the growth of the segment in the forthcoming years.

Coated concrete floors are expected to account for around 47.10% of the U.S. market in terms of revenue by the end of 2027. Rising demand products derived from water-based and powder-based glazes in the flooring sector due to changing consumer preference is expected to positively impact the growth of the segment over the next six years.

Concrete Floor Application Insights

The commercial was the largest application segment, accounting for around 53.95% of the market in terms of revenue and volume in 2019. The strong foothold of commercial spaces as well as corporate houses in the country 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 for the growth of the commercial segment over the forecast period.

U.S. concrete floor market share

The residential segment is anticipated to witness considerable growth over the forecast period. Building and construction industry in U.S. has been witnessing substantial growth since 2016 owing to the renewal of the residential construction sector. This growth can be attributed to the increase in the construction of single-family housing, which in turn is expected to fuel the product demand. Moreover, the rise in re-insulation and refurbishment of old houses is likely to contribute to the growth.

U.S. Concrete Floor Coatings Market Share Insights

The market is fragmented in nature with the presence of several key players, such as Henkel AG & Company; KGaA; BASF SE; Jotun A/S; The Tennant Company; Axalta Coating Systems; Stonhard, Inc.; Behr Paint Company; and PPG Industries, Inc. It also has various medium and small regional players, such as TruCrete Surfacing Systems, Cornerstone Coatings International, North American Coating Solutions, and Vanguard Concrete Coating. The players face intense competition from each other as well as from regional players, who have strong distribution networks and good knowledge about suppliers and regulations.

The companies compete on the basis of product quality offered and the technology used for the production of concrete floor coatings. However, the established players compete on the basis of products that have a wider scope of application and new technologies used in product formulations. The raw materials used for manufacturing concrete floor coatings play a significant role in determining the price of the final product. The fluctuation in prices of raw materials such as epoxy resin and polyurethane as well as demand from other application industries are expected to positively impact the market over the forecast period.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Concrete Floor Coatings volume in Kilotons & revenue in USD Million & CAGR from 2019 to 2027

 

Concrete Floor volume in Million Square Feet & revenue in USD Million & CAGR from 2018 to 2027

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 and revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the U.S. concrete floor coatings market and 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, 2016 - 2027)

    • Epoxy

    • Polyurethanes

    • Polyaspartics

    • Others

  • U.S. Concrete Floor Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2027)

    • Residential

    • Commercial

  • U.S. Concrete Floor Product Outlook (Volume, Million Square Feet; Revenue, USD Million, 2016 - 2027)

    • Coated

      • Epoxy

      • Polyurethanes

      • Polyaspartics

      • Others

    • Polished

  • U.S. Concrete Floor Application Outlook (Volume, Million Square Feet; Revenue, USD Million, 2016 - 2027)

    • Residential

    • Commercial

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