Canada Concrete Floor Coatings Market: Snapshot
Concrete floor coating is the covering applied to cured concrete in order to make the surface last longer by utilizing the anti-corrosion property. Advantages of using concrete floor coatings include esthetic look, durability, ease of maintenance, ability to be customized, long term cost savings, health benefits and low installation cost. The key applications of concrete floor coatings lies in the residential construction sector. They have been of high demand both for the indoor and outdoor applications. Increase in the number of construction projects and rise in demand for green technology are expected to fuel the market for concrete floor coatings in the next few years.
According to the report, the Canada concrete floor coatings market, which valued at US$100.8 mn in 2016, will reach US$158.0 mn in 2025, expanding at a CAGR of 5.2 % between 2017 and 2025.
Epoxy Coatings to Remain Most Preferred Concrete Floor Coatings in Canada
On the basis of the type of product, the Canada concrete floor coatings market has been segmented in the report into epoxy, polyaspartics, polyurethane, and acrylic. Of these, the segment of epoxy coatings accounted for a massive share of nearly 60% of the Canada concrete floor coatings market in terms of revenue in 2016. Vast characteristic features of epoxy coatings, such as immense durability, incredible strength, low maintenance cleaning, resistance to chemicals, and an environment friendliness quotient that is higher than other chemical varieties of floor coatings work in their favor, leading to the huge demand.
The segment is expected to continue to hold a massive share in the overall Canada concrete floor coatings market over the report’s forecast period as well. However, it is likely to see a minor decline in its present stake in the Canada concrete floor coatings market over the forecast period, with the polyaspartics segment gaining notably in terms of its share in the Canada concrete floor coatings market. The segment of polyaspartic coatings is expected to exhibit a promising 6.0% CAGR in terms of revenue contribution from 2016 to 2024.
Ontario to Retain Dominance Owing to Rising Number of Residential Projects
From a geographical perspective, Ontario accounted for more than 30% share of the Canada concrete floor coatings market in 2016. Rising urbanization, increasing disposable income and increasing demand for residential projects has been the prominent factor driving the concrete floor coatings market in Ontario. Quebec also held a significant market share in the Canadian concrete floor market. The geographic position and existence of key manufacturers of the concrete floor coatings are the key reasons for the significant market share of Quebec. Radical improvements in product quality and efficiency in advanced coatings are likely to drive the concrete floor coatings market at healthy rate in these regions over the forecast period as well.
British Columbia is expected to lead in terms of rate of growth of the concrete floor coatings market in Canada over the forecast period, driven largely owing to the rising number of new building startups in the province. Alberta, with high growth in GDP and per capita income is expected to have high growth potential in future. In terms of environmental performance of the concrete floor coatings, Saskatchewan faces some challenges. However, the rising employment rate in the province is expected to fuel the growth of concrete floor coatings in the Saskatchewan province. Both Manitoba and Atlantic are considered as provinces with significant growth potential albeit with challenges such as fluctuating economy and non-promising employment rates.
Some of the leading companies operating in the Canada concrete floor coatings market profiled in the report are The Sherwin-Williams Company, PPG Industries Inc, BASF SE, RPM International Inc, and Sika AG.
Canada Concrete Floor Coatings Market: Overview
Concrete floor coating is the covering applied to cured concrete in order to make the surface last longer. These coatings offer corrosion resistance property. Advantages of using concrete floor coatings include esthetic look, durability, ease of maintenance, ability to be customized, long term cost savings, health benefits and low installation cost. Increase in the number of construction projects and rise in demand for green technology are expected to fuel the market for concrete floor coatings. In terms of application, the concrete floor market in Canada has been segmented into indoor and outdoor. Indoor applications include residential, commercial, institutional, and office buildings. Outdoor applications comprise walkways, garages, patios, sport complexes, terraces, and driveways. Indoor applications are estimated to offer attractive growth potential compared to the outdoor applications
Canada Concrete Floor Coatings Market: Scope of the Report
The report estimates and forecasts the Canadian concrete floor coatings market on the provincial level. The study provides forecast between 2017 and 2025 based on volume (Tons) and revenue (US$ Mn) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the concrete floor coatings market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the concrete floor coatings market. The report analyzes opportunities in the concrete floor coatings market on the provincial level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes average price trend analysis of concrete floor coatings
The report includes Porter’s Five Forces Model to determine the degree of competition in the concrete floor coatings market. The report comprises a qualitative write-up on market attractiveness analysis, wherein application and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for concrete floor coatings between 2017 and 2025.
Canada Concrete Floor Coatings Market: Segmentation
The study provides a comprehensive view of the concrete floor coatings market by dividing it into product type, application and provinces. The concrete floor coatings market by product has been segmented into epoxy, polyaspartics and others. Application segments have been analyzed based on historic, present, and future trends, and the market has been estimated in terms of volume (Tons) and revenue (US$ Mn) between 2017 and 2025.
Provincial segmentation includes the current and forecast demand for concrete floor coatings in Ontario, Quebec, British Columbia, Alberta, Manitoba , Saskatchewan, and Atlantic. Additionally, the report comprises provincial analysis in terms of volume and revenue for end-user segments. Market segmentation includes demand for individual end-users in all the provinces.
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the Canada market. Key players profiled in the report include The Sherwin Williams Company, PPG Industries Inc, BASF SE, RPM International, Inc and Sika AG .Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Canada Concrete Floor Coatings Market: Research Methodology
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The Canada Concrete Floor Coatings market has been segmented as follows:
Concrete Floor Coatings Market – Product Type Analysis
Concrete Floor Coatings Market – Application Type Analysis
Concrete Floor Coatings Market – Provincial Analysis
- British Columbia