Europe Concrete Floor Coatings Market growth was over USD 397 million in 2019 and will grow at a CAGR of more than 5.0% up to 2026.
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In 2019, the industrial segment dominated the Europe concrete floor coatings industry and is projected to grow at the highest CAGR of 5.2% during the forecast period. The rise in the industrial constructions in Western Europe has further propelled the consumption of concrete floor coatings in manufacturing, fabrication, and other industries. Furthermore, the growing application of epoxy floor coatings due to their versatility, such as excellent heat and chemical resistance, adhesion, and electrical insulation properties, is expected to spur the overall industry growth.
The growing popularity of concrete floor coatings in commercial applications across European countries is likely to boost the industry growth. Growing commercial construction activities mainly in countries, such as Italy, Poland, and Russia, is the major factor driving the regional market growth. However, the rising substitute threat from products including tiles, hardwood, and marble flooring, is anticipated to hamper the market growth over the forecast period. Conversely, favorable regulatory guidelines and norms regarding multifunctional and smart coatings are likely to offer new growth opportunities to the market.
Polyaspartic coatings are expected to grow at the highest CAGR of 5.7% in the next few years. These coatings can perform at a varied range of temperatures ranging from -30°F to 140°F, with fast curing and high UV stability properties; therefore, these properties of polyaspartic coatings make it suitable for various areas such as industrial and commercial. Additionally, the polyurethane coatings segment is projected to grow significantly owing to their rising application as flooring solutions in commercial, residential, and non-building structures.
The increasing government funding for the infrastructure development in emerging countries is expected to increase the application of concrete floor coatings in outdoor areas. Additionally, the rise in construction activities of parking spaces and commercial complex is also anticipated to fuel the concrete floor coatings market. Rising awareness regarding safety in commercial parking areas is creating growth opportunities to the overall concrete floor coatings industry.
Major players operating in the concrete floor coatings industry are focusing on expanding their product portfolio and presence through mergers & acquisitions. Players operating in the industry include Royal DSM N.V., The Sherwin-William Company, BASF SE, PPG Industries Inc., Henkel Corporation, RPM International Inc., Nippon Paint Co. Ltd., Sika Corporation, The Valspar Corporation, Epmar Corporation, Vanguard Concrete Coating, and The Stonhard Group among others.