North America Concrete Floor Coatings: Overview
Floor coatings today add a great deal of importance apart from being simple protective coatings. Modern floor coatings offer a wide spectrum of applications for commercial, residential, and industrial purposes. Concrete floor coatings, as a part of the general floor coatings market, provides a large number of indoor as well as outdoor applications in all sectors. The outdoor applications of concrete floor coatings include those in patios, walkways, floors, and garages, while the indoor applications include restraints, industrial floors, commercial floors, and residential floor coatings.
The North America concrete floor coatings market is expected to reach US$546.8 mn at the end of 2023, after expanding at a CAGR of 6.0% within a forecast period from 2015 to 2023. The market was calculated to have reached US$363.6 mn at the end of 2016. The swift rate of growth shown by the North American construction industry is a key reason for the growth rate of the North America concrete floor coatings market, and will continue to influence it over the coming years.
United States’ Demand for Concrete Floor Coatings Continues to Rise
The U.S. held the leading share in the North America concrete floor coatings market over the recent past, and market readings point to a continued dominance for this country within the North America region. There is a massive demand for concrete floor coatings in the U.S. within the application segments of commercial and outdoor. The demand for concrete coatings for garages and walkways is currently topping most application demands within the U.S., while future construction and renovation projects are likely to spur the demand for concrete floor coatings even further.
Canada and Mexico follow the U.S. on the profitability charts in the North America concrete floor coatings market, but current movements in Mexico suggest a heavy influx of demand over the coming years. An instance includes the initiation of the National Infrastructure Plan taken up by the Mexican government from 2014 to 2018. This project is already ramping up the demand for concrete floor coatings in the region and is likely to create the foundation for better market prospects over the foreseeable future.
More Customers Preferring Epoxy Coatings
In 2014, epoxy-based coatings took up more than 55% of the North America concrete floor coatings market. Current market statistics confirm the high demand for epoxy-based concrete floor coatings and peg the segment to be the dominant one for the coming years. Epoxy-based concrete floor coatings are considered a high demand product in Mexico due to its ease of availability and relatively lower costs. Meanwhile, polyaspartic coatings are expected to drive the future demand in the North America concrete floor coatings market, given its advantages of such as faster curing rate, and a superior resistance to ultraviolet rays, wear and tear, and abrasion.
Outdoor concrete floor coatings took up the dominant share in the North America concrete floor coatings market over the recent years, thanks to a growing demand for them in the industrial and commercial sectors. The overall success rate of the North America concrete floor coatings market is, however, expected to remain stifled over the coming years due to the volatility of raw materials availability and prices, while the future demand for concrete floor coatings is likely to lean towards the use of bio-based raw materials due to growing environmental concerns.
The leading players in the North America concrete floor coatings market, at the moment, include BASF SE, Sherwin-Williams, RPM International Inc., The Valspar Corporation, and PPG Industries Inc. General competitive direction of the market is leaning towards improving customer retention and improving quality of produc
Concrete floor coatings are widely used across the globe for protecting concrete floors from abrasion and wear and tear. Demand for concrete floor coatings is primarily led by growing awareness regarding floor coatings and increasing construction activities in North America. North America dominates the global market for concrete floor coatings. This report by Transparency Market Research analyzes, estimates, and forecasts demand for concrete floor coatings on a regional level from 2015 to 2023 in terms of volume and revenue. The study also provides information on restraints, drivers, and opportunities along with impact on the overall market during the forecast period. The report segments the market based on application and region and offers estimates and forecast of the concrete floor coatings market for each segment.
The study analyzes the product value chain, beginning with feedstock material up to end-use. Additionally, it evaluates the market based on Porter’s Five Forces Model, which analyzes the degree of competition in the market by considering factors such as bargaining power of buyers and suppliers as well as threat from substitute products and new entrants. The report includes a detailed competitive landscape of the concrete floor coatings market, including market share analysis of companies and profiles of key market participants.
Inflation is not a part of pricing in the report. Prices of concrete floor coatings vary across each region. Considering that different end-users employ different types of products, pricing for each application varies according to regions while estimating and forecasting market revenue on the global basis. The regional average price has been considered while breaking down the market by end-application in each region. Size of the global concrete floor coatings market has been presented in terms of both volume as well as revenue. Market volumes are provided in kilo tons, while market revenue is in US$ Mn. Both domestic and institutional sales of concrete floor coatings have been considered. Market numbers are provided based on product types and applications in the context of the market in North America. Market size and forecast for each major application is also provided in the context of the market in North America. Numbers provided in the report are derived based on demand for concrete floor coatings from various end-user industries in different countries. All prices have been considered as FOB prices. All market revenues have been calculated based on sales and consumption trends.
The report provides a decisive view on the concrete floor coatings market by segmenting the market based on product types and applications. Product segments analyzed in this report include epoxy, polyaspartics, and others (polyurethane, acrylic, etc.). Based on application, concrete floor coatings are segmented into outdoor (garages, walkways, pathways, driveways, patios, etc.) and indoor (floor coatings for offices, commercial spaces, residential, etc.) coating applications. All application segments have been analyzed based on present and future trends, and the market has been estimated from 2015 to 2023.
The concrete floor coatings market is segmented based on country into the U.S., Canada, and Mexico. Demand from each application type of concrete floor coatings in terms of both revenue and consumption for each of these countries has been forecast in the report from 2015 to 2023. Major market drivers for the concrete floor coatings market in North America are the recovering construction industry and growing infrastructure investments in Mexico.
Leading manufacturers profiled in this report include BASF SE, Sherwin-Williams, RPM International Inc., The Valspar Corporation, and PPG Industries Inc. These companies are profiled in detail with features such as company overview, financial overview, business strategies, and recent developments.
The report segments the concrete floor coatings market in North America as follows:
Concrete Floor Coatings Market – Product Segment Analysis
- Others (acrylic, polyurethane, etc.)
Concrete Floor Coatings Market – Application Segment Analysis
Concrete Floor Coatings Market – Regional Analysis
- North America