October 04, 2022 10:30 ET | Source: Custom Market Insights Custom Market Insights
Sandy, Utah, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled "Concrete Floor Coatings Market Size, Trends and Insights by Product (Epoxy, Polyaspartic, Acrylic, Polyurethane), By Application (Indoor, Outdoor), By End User (Residential, Commercial, Industrial, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030" in its research database.
"According to the latest research study, the demand of global Concrete Floor Coatings Market size & share was valued at approximately USD 5.8 Billion in 2021 and is expected to reach a value of around USD 8.3 Billion by 2030, at a compound annual growth rate (CAGR) of about 6.5% during the forecast period 2022 to 2030."
Concrete floor coatings are also identified as protective coatings. Generally, concrete floor coatings are exhibited in a liquid and semi-solid form, which is applied to cure concrete and enhance the durability and aesthetics of floorings. Concrete floor coatings possess various properties, such as it is resistant to water, chemical, flame, UV, colour, and gloss. Owing to these properties, it has a wide range of applications in various end-use industries, including automotive, textile, residential, commercial, medical, and others.
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Increasing demand from the building & construction sector is one of the critical factors responsible for the growth of the global concrete floor coatings market. Concrete floor coatings are preferred over conventional coatings due to their low volatile organic content and water retention capacity.
Concrete floor coatings are used extensively in construction as they are resistant to corrosion, water, flame, chemical spill, and others. For instance, according to an article published by Invest India in the year July 2022, the construction industry is expected to reach $1.4 trillion by 2025. In response, polysiloxane-based concrete floor coatings are used predominantly in the building infrastructure to protect them against corrosion, acid rains, chemical spills, etc. These factors are anticipated to increase the demand for concrete floor coatings in the construction sector.
(A free sample of the Concrete Floor Coatings report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
(Please note that the sample of the Concrete Floor Coatings report has been modified to include the COVID-19 impact study prior to delivery.)
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However, the lack of skilled labour is restricting the global concrete floor coatings market expansion during the forecast period. Furthermore, the high price of concrete coatings is restraining the market's overall growth. In addition, high production costs and the requirement for advanced machinery will slow down the market. On the other hand, manufacturers are switching to alternative substitutes for concrete floor coatings due to high production costs and rising prices of raw materials.
Escalation in the electronics and automotive sector
The proliferating growth of the automotive sector has witnessed the significant growth of the concrete floor coatings market. The growing adoption of automotive displays, human-machine interface, and automated systems are being embedded in luxurious cars by several key manufacturer players, including TATA Motors, Mahindra, Hyundai, Tesla, Ford, Audi, and others.
Waterproof coatings are majorly employed for longer durability, self-healing, hardness, and self-cleaning applications. These coatings possess properties such as thermal insulation, anti-fingerprint, corrosion resistance, and others. Thus, the growth of the automotive sector will drive the demand for concrete floor coatings in the upcoming years.
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Over the forecast period, concrete floor coatings are new to the market, and gaining an edge over completion may be challenging.
Key questions answered in this report:
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Based on type, the segment includes epoxy, polyaspartic, acrylic, and polyurethane.
The epoxy product segment dominated the market in 2021 and is expected to grow with 42% of the total market share over the forecast period. Epoxy concrete floor coatings are extensively used in building materials, automotive, electronics, medical devices, etc. It provides a high-performance, smooth, economical, and durable surface that can last many years and withstand heavy loads. Additionally, it maintains the shiny look of vehicles in the automotive sector, due to which the demand for epoxy-based concrete coatings has escalated in the market.
In addition, the growing global population, change in lifestyle, and increased focus on hygienic activities have enhanced the demand for concrete floor coatings, which are extensively used in the medical, household, and commercial & residential sectors. These factors are escalating the demand for epoxy based-concrete floor coatings during the forecast period.
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February 2022: Daw DE has launched its new concrete floor coatings and its related materials. The new product is named DISBON 404 Acrylic Floor Sealer, Dispobox 442 Garage Sealer, and others. This strategic launch has widened the DAW DE’s product portfolio for concrete floor coatings.
September 2020: PPG Industries, Inc., has launched its new range of concrete floor coatings named PPG general purpose floor coatings, PPG wear-resistant floor coatings, and among others. This strategic launch has enhanced PPG’s product portfolio for concrete floor coatings.
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Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the dominant region in the concrete floor coatings market and accounted for 54% of the total market share during the forecast period.
The utilization of concrete floor coatings has increased in the sectors such as building & construction, automotive, electronics, and others are key market trends in the Asia-Pacific region.
The building & construction sector is one of the booming sectors in the Asia-Pacific region. For instance, according to an article published by Invest India in August 2022, the construction Industry in India is expected to reach $1.4 Tn by 2025 due to a robust increase in the urban population which will significantly enhance the demand for concrete floor coatings where it gives protection to infrastructure during the uncertain weather conditions. It is also used for protecting the windows & doors, and floor slab surface from rain, moisture, UV radiation, and others.
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The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The guidelines and policies of the logistics and supply chain of the concrete floor coatings products were affected remarkably.
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Segments covered in the report
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On the basis of Geography
The Middle East & Africa
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