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North America Concrete Floor Coatings Market Size to Earn $ 520 Mn by 2026
Published Date: 2020-11-23
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According to the Graphical Research new growth forecast report titled North America Concrete Floor Coatings Market value will surpass USD 520 million by 2026. The North America concrete floor coatings market is expected to witness robust growth owing to the growing residential and commercial construction activities. Strong growth in the construction industry, especially in the U.S., is likely to propel the application of concrete floor coatings. Concrete floor coating provides resistance to high-temperature in indoor & outdoor areas and protects floors in residential & commercial buildings against wear and tear. Additionally, the surging demand for these coatings as a protective medium in the flooring sector is also one of the major factors driving the concrete floor coatings industry growth.
Epoxy held the highest share in the market in 2019. This is majorly attributed to its low cost compared to its counterparts. Due to its versatile properties, such as heat and chemical resistance, excellent adhesion, and favorable electrical insulation, it is the most widely used coating in the construction industry. However, epoxy coatings are ineffective against UV exposure because radicals are produced by UV light, which reacts with the coated surface. Therefore, this may act as a restraining factor for the industry growth in the coming years.
The two-component segment is expected to grow at a CAGR of 6.2% during the forecast period. This type of floor coatings is widely used in areas which requires corrosion protection. It provides additional protection to the flooring from foreign particles and external forces. The two-component coatings are heavily used in manufacturing plants such as plastic manufacturing, food & beverage, fabrication, assembly lines, etc. Therefore, the growing manufacturing industry in the U.S. will propel the concrete floor coatings market growth.
The rising need for remodeling and renovation of old buildings in the U.S. will enhance the demand for concrete floor coatings, thereby, propelling industry growth. Furthermore, a huge drift in the retail industry is witnessing strong growth in the construction of warehouses with proper flooring practices, which, in turn, will positively affect the regional concrete floor coatings market. Furthermore, concrete floors are heavily used in industrial and commercial buildings. Commercial spaces are witnessing a strong demand from emerging economies owing to the rising service sector. Manufacturers of concrete floor coatings are constantly focusing on research and developments to develop products with advanced functionalities.
Many multinational and regional companies have a presence in the industry. Some of the major players operating in the market are The Sherwin-William Company, BASF SE, Jotun A/S, The Tennant Company, Behr Paint Company, Axalta Coating Systems, Stonhard, Inc., PPG Industries, Inc., Sika Corporation, The Valspar Corporation, and Vanguard Concrete Coating, among others.
The North America concrete floor coatings market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
Market Share, By Product
Market Size, By Component
Market Value, By Application
Market Growth, By End-user
The above information is provided on a country basis for the following: