Global Concrete Floor Coating Market to Expand at 7% CAGR till 2020
Deerfield Beach, FL -- (SBWIRE) -- 08/28/2017 -- Zion Market Research has published a new report titled "Concrete Floor Coating Market (Epoxy, Polyaspartics and Others) for Outdoor and Indoor Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020". According to the report, global demand for concrete floor coating was valued at USD 800 million in 2014 and is expected to reach around USD 1,200 million in 2020, growing at a CAGR of around 7% between 2014 and 2020. In terms of volume, the global concrete floor coating market stood at approximately 360 kilo tons in 2014.
Concrete floor coating is a major aspect of the construction industry. Concrete floor coatings are mainly applied for the protection of the concrete floor. The decoration is another important purpose of using concrete floor coatings. Coatings prevent the concrete floor from degradation or contamination. Additionally, it provides the concrete floor with good chemical resistance, ease of maintenance, aesthetics, physical performance etc. Concrete floors are not capable of taking consistent exploitation, therefore, coating for concrete floors is essential. Concrete floor coating is used in wide range of applications such as residential floor coatings, commercial floors coatings, industrial floors coatings, etc.
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Concrete floor coating market is mainly driven by rising awareness among end-users regarding benefits of applying concrete floor coatings. Use of concrete floor coatings prevents the concrete floor from any chemical attack, deterioration and provides an aesthetic look and also extend its durability. Strong growth prospectus of the construction industry in developed, as well as emerging economies, is expected to trigger the growth of this industry. However, manufacturers are expected to face some challenges such as fluctuating raw material and crude oil prices associated with.
Epoxy, polyaspartics and others (including polyurethane, acrylic, etc.) are key product segments of concrete floor coatings market. Epoxy based concrete floor coatings accounted for the largest share of over 50% of the total concrete floor coatings market in 2014. Polyspartics concrete coating is the second largest product segment of concrete floor coating market followed by others (polyurethane, acrylic, etc.) products segment. Polyspartics concrete coatings are also expected to exhibit fastest CAGR during the forecast period.
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The indoor application includes garages, walkways, pathways, driveways, patios coating etc, and outdoor application include floor coatings for offices, commercial spaces, residential coating. Indoor was the leading application market for concrete floor coatings in 2014. Indoor is also expected to be the fastest growing application market for concrete floor coatings during the forecast period.
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Global concrete floor coating market was dominated by the North America. North America was followed by Asia Pacific and Europe respectively. Asia Pacific accounted for over 29% of the global concrete floor coating in 2014. Asia Pacific is projected to be the fastest growing market for concrete floor coatings due to strong demand from India and China. Latin America and Middles East & Africa are another important regional market for concrete floor coatings.
Concrete floor coatings manufacturers have a significant impact on the value chain through a higher degree of forwarding integration. These companies manufacture raw materials as well as the final product and use it in various applications such as indoor and outdoor. Key players operating in this market includes Royal DSM N.V., BASF SE, Behr Process Corporation, Deutsche Amphibolin-Werke von Robert Murjahn Stiftung & Company KG, PPG Industries Inc., RPM International Inc., The Sherwin-William Company, The Valspar Corporation.
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