Concrete floor coating market
Concrete floor coatings are mainly applied for the protection of the concrete floor, but can also be used for decoration. Coatings prevent concrete floor degradation or contamination, chemical resistance, ease of maintenance, and so on.
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.
The concrete floor coating market is mainly driven by rising awareness among end-users about the benefits of applying concrete floor coatings. The strong growth of the construction industry in developed as well as emerging economies is expected to drive continued growth, however, manufacturers are expected to face some challenges such as fluctuating raw material and crude oil prices.
Epoxy, polyaspartics and others (including polyurethane, acrylic, etc.) are key products used for concrete floor coatings market. Epoxy based concrete floor coatings accounted for more than 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.
The market was dominated by the North America, followed by Asia Pacific and Europe respectively. Asia Pacific accounted for more than 29% of the market in 2014 and is projected to be the fastest growing market due to strong demand from India and China. Latin America and Middles East & Africa are also important regional markets for concrete floor coatings.
Concrete floor coatings manufacturers typically manufacture raw materials as well as the final product. Key players include; 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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