Renowned companies operating in concrete floor coatings market liaison with end-use sectors to expand the firm’s presence across the value chain. This strategy will also allow the companies to have multiple processes running at the different stages of the value chain and help them strengthen their position in global concrete floor coatings market.
Sellbyville, DE -- (SBWIRE) -- 05/14/2019 -- The changing trends of the global construction sector will have a direct impact on Concrete Floor Coatings Market. In the face of fierce competition and changing consumer preferences, construction gurus have been innovating ways to create beautiful living and working spaces. Renovations and refurbishments are common in the construction sphere, subject to which periodic changes are undertaken to rehabilitate windows, doors, tiles, and the floors of homes, offices, shopping complexes, and multiplexes, which will augment concrete floor coatings industry suitably. Concrete floor coatings are generally preferred owing to their design choices and versatility. These coatings can be enhanced suitably to suit the taste of consumers, thereby propelling concrete floor coatings market size, set to cross USD 1.5 billion by 2024 with a CAGR estimation of more than 7% over 2016-2024.
Renowned companies operating in concrete floor coatings market liaison with end-use sectors to expand the firm's presence across the value chain. This strategy will also allow the companies to have multiple processes running at the different stages of the value chain and help them strengthen their position in global concrete floor coatings market. BASF, the Germany based chemical company is one such corporation that has successfully implemented this strategy. With a global presence in more than 80 countries, it has signed contracts with myriad end-use industries to spread its presence across the business ecosystem.
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According to a new research report by Global Market Insights, Inc. Concrete Floor Coatings Market size is poised to exceed USD 1.5 billion by 2024.
A dramatic shift toward a luxurious lifestyle and an aesthetic living arena has prompted consumers across the North American frontier to renovate their homes with the myriad concrete coatings available. These coatings come in a variety of colors and designs and are aesthetically eye-catchy and cost-effective as well. North America dominated global concrete floor coatings market in 2015 by holding more than 30% of the overall volume, with a revenue of USD 300 million.
The positive transition of the construction sector and rising infrastructure development post the disappointing economic fiasco of 2008 in the U.S. has been one of the key drivers for this growth. The continent has been observing a tremendous rise in the number of remodeling and renovation projects, a factor which is likely to propel North America floor concrete coatings market over the years to come. In addition the region is also home to many of the existing market players, which will help push the industry growth further.
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Concrete floor coatings are already a legend in the interior design business space. This is evident from the fact that these coatings are used extensively in outdoor and indoor applications, providing a boost to global concrete floor coatings market. With a gradual rise in the deployment of these coatings in residential and commercial sectors – in homes, buildings, offices, malls, and multiplexes, concrete floor coatings industry from indoor applications is slated to register a significant growth rate in the years ahead, having led the application landscape in 2015. Furthermore, the changing trends in the interior designing sphere coupled with the development of sports infrastructure, especially across the APAC region, will propel concrete floor coatings market in the years to come.
Asia Pacific concrete floor coatings industry, driven by the emerging economies such as India, China, and Japan, is slated to experience the maximum growth rate of 8% over 2016-2024. This tremendous growth can be credited to the ever-growing construction sector in the region. In addition, the lifestyle of the Asia Pacific population has undergone a paradigm shift, with more and more people wanting to improve their standard of living by means of constructing luxurious, aesthetic living and working spaces.
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APAC has also experienced a surge in the number of manufacturing facilities, a factor that will majorly drive concrete floor coatings industry in terms of product demand from the growing food & beverage, automotive, FMCG, and pharmaceutical sectors. The governments across the countries of Asia Pacific are also investing heavily to upgrade the manufacturing sector. This will significantly fuel APAC concrete floor coatings industry from indoor as well as outdoor applications.