Albany, NY -- (SBWIRE) -- 12/24/2018 -- Global Concrete Floor Coatings Market: Snapshot
Coatings for concrete floors are majorly used for guarding concrete floors from abrasions and wear and tear. Another factor that has made the concrete floor coatings popular among the customer is the fact that protects concrete floors from harsh climatic conditions. These concrete floors are majorly used in commercial and residential structures. Concrete floor coatings are also known to protect the floors from chemical attacks and thermal shocks. Rise in awareness among consumers and builders regarding the benefits that one can get by using concrete floor coatings is fueling the growth of the market. Apart from this, the rise in construction activities across the world. Attributed to this trend the market is likely to have a stable growth rate. Increase in uptake of various projects by buildings and construction industry in developed as well as developing countries is likely to boosts the market growth.
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Major vendors present in the global concrete floor coatings market have accepted various types of strategies to have a strong hold in the region such as mergers, intense marketing, joint ventures, acquisitions, partnerships, agreements, and investment. However it has been noticed that the unstable availability of raw materials and its cost us likely to deter the growth of the market. This had led to the emergence of alternative product such as bio-based concrete floor coatings.
According to Transparency Market Research, the global concrete floor coatings market is prognosticated to grow at CAGR of 6.80% between the 2014 and 2020. By the end of the forecast period, the market is likely to be valued at US$1.1 bn from a worth of US$0.7bn in 2013.
Indoor Floor Coatings to Hold Major Share Due to Rise in Industrial and Commercial Sector
The global concrete floor coatings market is bifurcated on the basis of application and product type. On the basis of application the market is segregated into indoor and outdoor. Between these two, indoor floor coatings segmented held a major share of around 50%. Indoor floor coatings accounted for the major share due to rise in demand particularly from industrial and commercial sector. On the basis of product, the market is bifurcated into polyaspartics, polyurethane,acrylic, and epoxy.
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Amongst the pack, epoxy based concrete floor coatings held a major share of 50% in 2013. Following the epoxy based concrete floor, polyaspartics based concrete floor coatings is second most popular and used by the builders and construction industry. Due to low benefits and several benefits that comes along with such as better insulating properties, excellent adhesion, and resistance to heat and chemicals, makes the epoxy coatings more favorable.