North America Concrete Floor Coatings Market value was USD 415 million in 2019 and will grow at a CAGR of more than 6.2% up to 2026.
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Epoxy coatings dominated the North American industry. Due to its versatile properties, such as excellent adhesion, abrasion resistance, and favorable electrical insulation, it is the most widely used coating in the construction industry. The polyurethane concrete floor coatings segment is projected to grow considerably owing to its versatile properties such as excellent corrosion resistance, abrasion resistance, wear resistance, and high flexibility. Polyurethane concrete floor coatings are available in both water-based and solvent-based formulations. Additionally, these coatings offer high UV stability, which makes it suitable for outdoor applications. Furthermore, polyaspartic coatings are expected to grow at the fastest pace due to its rising applications in the industrial sector. Polyaspartic coatings have high UV stability and fast curing properties along with the potential to work in a wide range of temperatures from -30 ° Fahrenheit to 140 ° Fahrenheit.
The market is projected to grow at the fastest pace due to rapid growth in the construction industry. Growth is majorly attributed to the rapidly growing flooring applications in various sectors such as aerospace, manufacturing, and construction. Strong growth aspects in the aerospace sector will boost the demand for concrete floor coatings over the forecast timespan.
The outdoor application segment dominated the overall concrete floor coatings industry. The rising construction activities for commercial complexes and parking spaces are likely to propel the demand for floor coatings for its application in outdoor areas. Additional demand for concrete floor coatings is created by evolving lifestyles, increasing preference for concrete floors, and raising awareness of safety in commercial parking areas.
The U.S. is expected to dominate the regional concrete floor coatings market. The growing demand for concrete floor coatings in commercial spaces and industrial sectors is a major factor driving the U.S. market. The rising residential construction activities will also have a positive influence on the North America concrete floor coatings demand by 2026. The strong base of corporate offices and commercial spaces in the U.S. owing to well-established infrastructures, trained workforce, and close access to production units on a domestic level is anticipated to support the regional concrete floor coatings market.
Key players operating in the industry majorly focus on product expansion and strategic alliances to maintain their position in the market. For instance, in September 2020, PPG launched PPG flooring coatings to provide optimum performance based on a specific work environment. Prominent companies operating in the industry include The Sherwin-William Company, BASF SE, Jotun A/S, The Tennant Company, Behr Paint Company, Axalta Coating Systems, The Stonhard, Inc., PPG Industries, Inc., Sika Corporation, The Valspar Corporation, and Vanguard Concrete Coating, among others.