Concrete Floor Coatings Market Expected To Grow At A Highest CAGR Over The Forecast Timeframe
Category: #headlines  By Partha Ray  Date: 2019-08-07
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Concrete Floor Coatings Market Expected To Grow At A Highest CAGR Over The Forecast Timeframe

Renowned companies operating in concrete floor coatings market liaison with end-use sectors to expand the firm’s presence across the value chain. This strategy will also allow the companies to have multiple processes running at the different stages of the value chain and help them strengthen their position in global concrete floor coatings market. 

BASF, the Germany based chemical company is one such corporation that has successfully implemented this strategy. With a global presence in more than 80 countries, it has signed contracts with myriad end-use industries to spread its presence across the business ecosystem.

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The changing trends of the global construction sector will have a direct impact on Concrete Floor Coatings Market. In the face of fierce competition and changing consumer preferences, construction gurus have been innovating ways to create beautiful living and working spaces. Renovations and refurbishments are common in the construction sphere, subject to which periodic changes are undertaken to rehabilitate windows, doors, tiles, and the floors of homes, offices, shopping complexes, and multiplexes, which will augment concrete floor coatings industry suitably. 

Concrete floor coatings are generally preferred owing to their design choices and versatility. These coatings can be enhanced suitably to suit the taste of consumers, thereby propelling concrete floor coatings market size, set to cross USD 1.5 billion by 2024 with a CAGR estimation of more than 7% over 2016-2024.

A dramatic shift toward a luxurious lifestyle and an aesthetic living arena has prompted consumers across the North American frontier to renovate their homes with the myriad concrete coatings available. These coatings come in a variety of colors and designs and are aesthetically eye-catchy and cost-effective as well. North America dominated global concrete floor coatings market in 2015 by holding more than 30% of the overall volume, with a revenue of USD 300 million. 

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Concrete floor coatings are already a legend in the interior design business space. This is evident from the fact that these coatings are used extensively in outdoor and indoor applications, providing a boost to global concrete floor coatings market. With a gradual rise in the deployment of these coatings in residential and commercial sectors – in homes, buildings, offices, malls, and multiplexes, concrete floor coatings industry from indoor applications is slated to register a significant growth rate in the years ahead, having led the application landscape in 2015. Furthermore, the changing trends in the interior designing sphere coupled with the development of sports infrastructure, especially across the APAC region, will propel concrete floor coatings market in the years to come

Epoxy dominated the product landscape of worldwide concrete floor coatings market in 2015 with a contribution surpassing 50% of the total revenue. It is anticipated to observe remarkable gains over 2016-2024, subject to the product properties of high impact resistance, low cost, chemical resistance, and endurance to abrasion. In addition, epoxy concrete floor coatings market will witness a tremendous surge pertaining to the high product demand across outdoor applications such as airports, hospitals, and railway stations, apart from the electronic and pharmaceutical industries. The tremendous growth of epoxy surface coatings market will also expedite the product demand in a variety of application sectors.

The latest trend in concrete floor coatings market is that of using polyaspartic resin. This product is highly durable, unique, and can be customized as required. Polyaspartics concrete floor coatings industry is slated to witness a CAGR of 7% over 2016-2024, subject to the product’s features such as UV protection and high resistance.

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Market players have been investing in research and development activities to innovate new products to attract more consumers. Given that the world is inching toward maintaining an aesthetically pleasing space, concrete floor coatings market is likely to earn a significant revenue in the years ahead.
 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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