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

U.S. Concrete Floor Coatings Market Size, Share & Trends Analysis Report By Product (Epoxy, Polyurethanes, Polyaspartics), By Application (Residential, Commercial, Industrial), By Division, By End-user, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-554-0
  • Number of Pages: 98
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the U.S. concrete floor coatings market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for U.S. concrete floor coatings market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of U.S. concrete floor coatings market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Concrete Floor Coatings Market Categorization:

The U.S. concrete floor coatings market was categorized into six segments, namely product-kilotons (Epoxy, Polyurea, Polyurethanes, Polyaspartics), application-kilotons (Residential, Commercial, Industrial), end-user (Do-It-Yourself, Professional), and division (Northeast, Midwest, South, West), product-million square feet (Coated, Polished), application-million square feet (Residential, Commercial).

Segment Market Methodology:

The U.S. concrete floor coatings market was segmented into product-kilotons, application-kilotons, end-user, division, product-million square feet, and application-million square feet. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The U.S. concrete floor coatings market was analyzed at a regional level. 

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. concrete floor coatings market companies & financials:

The U.S. concrete floor coatings market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • The Sherwin-Williams Company - The Sherwin-Williams Company produces and distributes paints, stains, and coatings for various industries, including professionals, industrial, commercial, retail, and marine sectors. The company has divided its business into three segments: the Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment operates through exclusive stores in the United States, Canada, and the Caribbean countries, selling its branded floor coverings, paints, supplies, stains, and equipment. Its main products include paints, aerosols, protective and marine coatings, varnishes, and spray equipment used in residential, commercial, and industrial buildings. In the fiscal year 2021, the Americas Group segment generated revenues of USD 11,217 million, accounting for 56.2% of the company's total revenue. The Consumer Brands Group segment focuses on selling the company's private label products in North America, Europe, and Asia Pacific regions. Its product range includes paints, varnishes, wood finishing products and preservatives, industrial products, aerosols, and adhesives. In FY2021, the Consumer Brands Group segment reported revenues of USD 2,721.6 million, representing 13.6% of the company's total revenue. The Performance Coatings Group segment offers a wide range of products such as powder coatings, wood finishes, aerosols, coatings for plastic and glass, automotive coatings for both interior and exterior, packaging coatings, and building materials. In FY2021, the Performance Coatings Group segment generated USD 6,003.8 million, accounting for 30.1% of the company's total revenue. In addition to its product offerings, the company provides various services and support to its customers, including expert color matching and technical assistance, to help them choose the suitable coating for their specific requirements. The company serves various end-use industries, such as automotive, construction, packaging, aerospace, marine, electronics, furniture, and industrial manufacturing.

  • Trucrete Surfacing Systems - TruCrete Surfacing Systems is divided into two distinct business segments: industrial coatings and decorative coatings. These segments cater to the needs of concrete, metal surfaces, and wood. The company's operations primarily focus on two major segments: resinous flooring and decorative concrete products. The resinous products segment encompasses many offerings, such as polyaspartic coatings, epoxy coatings, urethane coatings, water-based stains, acid stains, concrete crack repair solutions, and metallic pigments. On the other hand, the decorative concrete products segment includes versatile options like multi-use concrete overlay, self-leveling polishable concrete overlay, sealers, and concrete color pigments. These exceptional products are utilized in various applications, including basements, patios, balconies, kitchens, bathrooms, driveways, pool decks, and garages.

  • North American Coating Solutions - North American Coating Solutions Company specializes in the installation of epoxy floors and offers concrete polishing services. Additionally, they provide various services, including concrete floor repairs, epoxy floor removal, industrial painting, and garage floor coating. Moreover, they offer high-quality epoxy floor coatings that possess excellent chemical resistance properties and are effective in filling floor cracks. It is important to note that the company solely focuses on installation services and does not manufacture any products.

  • Henkel AG & Co. KGaA - Henkel AG & Co. KGaA is a renowned manufacturer of consumer goods and chemicals, operating across three distinct segments: adhesive technologies, laundry & home care, and beauty care. The company offers a range of concrete floor coatings within the adhesive technologies segment. These high-quality products are utilized in various industries, such as aerospace, automotive & transportation, electronics, medical, metal processing, and paper & packaging. Marketed under the esteemed LOCTITE brand, the concrete floor coatings cater to various sectors, including pulp & paper, mining, food & beverage, printing, and steel manufacturing. With a global presence in 120 countries, including Australia, Canada, Germany, Indonesia, Italy, Mexico, India, and China, Henkel AG & Co. KGaA operates an extensive network of 184 production sites worldwide. As of December 2019, the company boasted a dedicated workforce of 52,000 employees.

  • BASF SE - BASF SE, founded in 1865 and headquartered in Ludwigshafen, Germany, is involved in the production of a wide range of products. These products include petrochemicals, catalysts, nutrition products, coatings, monomers, intermediates, construction chemicals, performance materials & chemicals, dispersions & pigments, crop protection products, and personal care chemicals. The company has divided its business into six segments: chemicals, industrial solutions, materials, nutrition & care, surface technologies, and agricultural solutions. It supplies its products to various industries, including agriculture, automotive & transportation, pharmaceuticals, oil & gas, food & beverage, and construction. Within the functional materials & solutions division, the company manufactures epoxy and polyurethane floor coatings under the Master Builders Solutions brand. These coatings are utilized in marine, oil & gas, food & beverage, pharmaceutical, cement, residential construction, parking decks, and tunneling & mining applications.

  • Vanguard Concrete Coating - Vanguard Concrete Coating company provides various services, including resinous floor coating, concrete floor polishing, decorative floor coating, and epoxy floor coating. As an authorized installer for renowned coating manufacturers such as Sherwin-Williams, Tennant, Akzo Noble, DuPont, BASF, and Key Resin Company, Vanguard ensures top-quality results. Their resinous floor coatings offer exceptional chemical resistance, making them ideal for environments that demand waterproofing and protection against chemical or physical harm. Additionally, the company specializes in decorative concrete flooring, which enhances the aesthetic appeal and provides an added layer of protection.

  • Tennant Coatings - Tennant Coatings Company specializes in producing resinous/epoxy floor coatings and cleaning equipment. It functions as a subsidiary of The Tennant Company. The company's wide range of products caters to diverse industries such as automotive, arenas & stadiums, aviation & aerospace, grocery & retail, food & beverage, parking decks & garages, and restaurants. Tennant Coatings' products are distributed throughout North America and Central & South America.

  • The Jotun Group - The Jotun Company specializes in developing, manufacturing, and distributing specialty coatings and paints. Jotun operates across four distinct business divisions, namely decorative paints, protective coatings, marine coatings, and powder coatings. Within the protective coatings segment, Jotun offers a diverse range of concrete floor coatings specifically designed for pedestrian walkways, ramps, parking bays, car parks, and roof decks. The company has established research and development laboratories in Europe, the Middle East, Asia Pacific, and North & South America to support its innovative product development. Jotun's manufacturing facilities are strategically located in Norway, the UK, Turkey, Dubai, South Korea, India, Thailand, Malaysia, China, and the U.S., with 37 production facilities spread across different countries.

  • Axalta Coating Systems - Axalta Coating Systems is a renowned manufacturer and distributor of transportation and performance coatings. The company offers a wide range of concrete floor coatings within its performance coating segment. In addition to this, Axalta is actively involved in the production, innovation, and sale of both powder and liquid coatings. The company's diverse portfolio also encompasses various other products and services, such as paints, application technologies, color-matching tools, customer support, training, and business management systems. Axalta caters to the coating needs of light vehicle original equipment manufacturers (OEMs) and commercial vehicles. Furthermore, it provides performance coatings for refinishing, aftermarket, and industrial applications. Lastly, Axalta offers decorative coatings for both residential and commercial purposes. With an extensive global presence, the company operates 48 manufacturing centers, houses four research and development centers, and holds over 932 patents.

  • Elite Crete Systems - Elite Crete Systems is a renowned company that specializes in the development and production of engineered surface and flooring products. With a wide range of flooring solutions, the company caters to various industries, including automotive, aviation & aerospace, education, healthcare & medical, hospitality & entertainment, residential, retail, and warehousing. Notable clients of Elite Crete Systems include Bend Distillery, Nissan Dealership, and Marmaid Winery.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

U.S. Concrete Floor Coatings Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Concrete Floor Coatings Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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