Concrete Floor Coating Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[217+ Pages Report] According to the report published by Facts and Factors, the global concrete floor coating market size was worth around USD 4.7 billion in 2022 and is predicted to grow to around USD 7.2 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030. The report analyzes the global concrete floor coating market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the concrete floor coating industry. 

Market Overview

When corrosion protection and defense against extreme surface wear are required, floor coatings are strong, protective layers that are applied to a variety of surfaces. They are used to mark transportation lanes, cover stained concrete, and light up facility spaces. Additionally great for mending and restoring exposed areas are floor coatings. The coating creates a high-performance, smudge-free, long-lasting surface that can handle heavy loads. Additionally, it shields surfaces from cracks, stains, and moisture. To increase the strength and aesthetic appeal of the flooring, concrete coating is usually applied to cure concrete.

Due to the porous nature of concrete floors, soluble contaminants, and water can penetrate the structure and hasten its early degeneration. The deterioration of concrete flooring is easily visible through laitance, efflorescence, and structural defects like spalling and cracking. To prevent the framework from deteriorating, floor coatings provide stain, abrasion, chemical, and freeze/thaw protection.

Key Insights

• As per the analysis shared by our research analyst, the global concrete floor coating market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030).
• In terms of revenue, the global concrete floor coating market size was valued at around USD 4.7 billion in 2022 and is projected to reach USD 7.2 billion, by 2030.
• The growing construction industry is one of the leading factors that penetrate the market growth during the forecast period.
• Based on the product, the epoxy segment is expected to dominate the market over the forecast period.
• Based on the application, the outdoor segment is expected to grow at the highest CAGR over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market during the forecast period.

Growth Drivers

• The growing construction industry drives the market growth

The market for concrete floor coatings is anticipated to expand as a result of the increase in construction, renovation, and building projects. A restoration project involves restoring or renovating an existing structure, whereas a new construction project involves creating a building or structure from scratch. To produce high-performance, smooth, durable surfaces with long operational life and the ability to hold heavy loads, concrete floor coatings are frequently used in commercial, industrial, and residential building and renovation activities.

For instance, the United States Census Bureau, a key component of the U.S. Federal Statistical System, estimates that the US spent $1,589 billion more on construction in 2021 than it did in 2020, or $1,469.2 billion. Thus, this is expected to drive the concrete floor coating industry growth.

Restraints

• The high price of raw materials acts as a major restraint

The gradually rising cost of raw materials has had an impact on the coatings industry. Since raw materials account for more than half of operating expenses, commodities are crucial for paint and coating producers. The cost of finished products goes up as a result of rising commodity costs, which has a negative impact on the global concrete floor coating market expansion.

Opportunities

• Favorable government initiatives provide a lucrative opportunity

The two main considerations for the flooring systems placed in factories, plants, and other industrial settings are safety and durability. Manufacturing facilities require flooring that is incredibly reliable, abrasion-proof, and sturdy. The surface must be functional, hygienic, and by all laws and rules governing worker safety. When placed on properly prepared concrete slabs, resinous floor coatings such as epoxy, polyurethane, and others can offer a long-lasting, secure, and hygienic flooring system. The demand for concrete floor coating is being driven by rising public infrastructure investment by the government as well as numerous forthcoming housing projects.

Challenges

• Concrete floors pose a threat to the ecosystem

Even though concrete itself is an inert, biodegradable material, producing cement uses a lot of energy and emits carbon dioxide. Concrete has a disproportionately high amount of embodied energy when compared to other construction materials like steel, wood, and glass. Thus acting as a major challenge for global concrete floor coating market expansion.

Segmentation Analysis

The global concrete floor coating industry is segmented based on product, application, and region.

Based on the product, the global market is bifurcated into epoxy, polyurethanes, polyaspartic, and others. The epoxy segment is expected to dominate the market over the forecast period because of the product's excellent heat and chemical protection, strong adhesion, and effective electrical insulation.

Additionally, the low cost of epoxy concrete floor coatings compared to their rivals is probably going to help the segment expand. On the other hand, the polyaspartic segment is expected to grow at the highest CAGR over the forecast period because these products can operate in a variety of temperatures. They also possess qualities like quick curing and high UV stability, which has contributed to their growing appeal. Polyaspartic coatings are not moisture-sensitive, unlike polyurethanes, and are more pliable, UV-stable, and abrasion-resistant than epoxy coatings. Polyaspartic coatings, which cure quickly and have good performance, are gradually substituting two-layer systems with an epoxy-based base coat and a urethane topcoat. As a consequence, polyaspartic coating demand rises, and process productivity increases.

Based on the application, the global concrete floor coating industry is segmented into indoor and outdoor. The outdoor segment is expected to grow at the highest CAGR over the forecast period. The popularity of sports like football, rugby, ice hockey, and tennis is predicted to increase the penetration of sports venues in the United States and Canada. The demand for products in outdoor sports stadium applications is anticipated to be driven by the increasing relevance of flooring solutions. The demand for the product is being driven by a change in urban lifestyle and a rise in public concern over safety in commercial parking spaces.

Recent Developments:

• In January 2022, Mascoat Ltd. and Verdia, Inc., two industrial coating businesses, were acquired by Arsenal Capital Partners' Seal for Life Industries, a worldwide industrial coating platform. Arsenal's acquisition is intended to increase its operational and commercial capabilities in protective sealing and coating solutions for international infrastructure markets. Thermal insulation coatings are offered by Mascoat Ltd., a Texas-based company, and polyurethane concrete flooring systems are offered by Verdia, Inc., a Texas-based company that also provides epoxies, polyurethane, and polyaspartic formulations.
• In January 2020, For the building industry, BASF launched MasterTop XTC, the next wave of high-performance flooring systems. Due to the innovative XolutecTM technology, an inorganic modified high-density cross-linking resin polymer, MasterTop XTC provides a smooth floor surface that is simple to keep and has exceptional resistance to abrasion and impact.
• In September 2022, in honor of the debut of a new line of GLIDDEN® floor paint and concrete stain products from PPG that incorporate COOL SURFACE TECHNOLOGY, the company released a behind-the-scenes glimpse at this summer's most elite pool party. The coatings help safeguard bare feet (and pets) on concrete surfaces, wood patios, porches, and pool decks by having the ability to restrict surface temperatures by up to 20%.
• In May 2022, the merger of TSR Concrete Coatings with Ninja Coatings and PolyPro Concrete Coatings has been announced. TSR is a portfolio company of Bertram Capital and a supplier of residential concrete coating solutions ("PolyPro"). Bertram established ReVamp Companies ("ReVamp") concurrently with the closing of the Ninja and PolyPro transactions. ReVamp is a platform for the top home improvement companies in the country, specializing in residential concrete coatings and other services that improve the look and feel of consumers' homes.

Report Scope

Regional Analysis

• The Asia Pacific is expected to dominate the market during the forecast period

The Asia Pacific is expected to dominate the global concrete floor coating market during the forecast period. The expansion of the concrete floor coatings market in this region will be significantly fueled by rapid infrastructure development and rising government support. Other factors that affect the concrete floor coatings market potential through 2030 include growing investments in the construction industry and an increase in the number of residential and commercial building projects. India, China, and Japan are predicted to be the most important markets in this region because of rising development activity and rising investments in construction as a result of rapid industrialization and urbanization.

For instance, according to the Department for Promotion of Industry and Internal Trade, the infrastructure industry will need to make investments worth USD 965.5 Mn by 2040 in India. Moreover, the "Housing for All" goal under PMAY-G has been set at 2.95 crore homes by 2024, of which 2,62,34,163 households have already been allocated to the States and UTs from 2016–17 through 2021–22. As of February 2nd, 2022, beneficiaries had received approval for 2,17,54,812 homes, and 1,71,34,737 homes had been finished. Thus, the aforementioned fact supports the market growth over the forecast period.

North America is expected to hold a significant market share over the forecast period. A major reason driving the high demand for products in the region is the rise in renovation and remodeling projects in the residential sector. Additionally, strong end-user businesses like those in the food and beverage, pharmaceutical, and automotive sectors would increase demand for the products used in flooring applications.

As per ZIPPIA, in 2021, the American pharmaceutical business generated $550 billion in yearly revenue. In 2021, Americans paid $576.9 billion on prescription drugs. In 2025, the United States is expected to pay $605 to $635 billion on medical care. As of 2021, 40.8% of the global pharmaceutical industry was accounted for by the U.S. Thus, with the growing end-use industry there will be increasing demand for concrete floor coatings, which in turn, drive the market growth in the region.

Competitive Analysis

• BASF SE 
• Akzo Nobel N.V. 
• The Sherwin-Williams Company 
• Sika AG 
• RPM International Inc. 
• PPG Industries Inc. 
• DSM 
• DAW SE 
• BEHR Process Corporation 
• Valspar 
• Vanguard Concrete Coating 
• Nippon Paint Holdings Co. Ltd. 
• Epmar Corporation 
• Henkel Adhesives Technologies India Private Limited 
• Rodda Paint Co. 
• CPC Floor Coatings. 
• Tennant Coatings. 
• Citadel Contractors. 
• Watco Industrial Flooring 
• ARCAT Inc.

The global concrete floor coating market is segmented as follows:

By Product Segment Analysis

• Epoxy
• Polyurethanes
• Polyaspartic
• Others

By Application Segment Analysis

• Indoor
• Outdoor

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America