North America Concrete Floor Coatings Market Size, Share & Trends Analysis Report By Product (Acrylic, Epoxy, Polyurethane, Polyaspartic), By Application (Outdoor, Indoor), By Country)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The North America Concrete Floor Coatings market size was valued at US$ 424.5 million in 2021 and is expected to hit US$ 954.6 million by 2030, growing at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2030.

Growth Factors:

The growing construction industry in the region is anticipated to significantly drive the market during the forecast period. Increasing construction spending in the U.S. is anticipated to elevate the penetration of residential, commercial, and industrial structures. Rising penetration of buildings and non-building structures is anticipated to fuel the concrete floor coatings over the forecast period. Concrete floor coatings are used for providing high-temperature resistance to indoor and outdoor areas in commercial and residential buildings against wear and tear.

Concrete floor coatings are also used for providing protection to the floors of non-building structures in the power, metal, and environmental protection industries. Construction spending in the U.S. is expected to increase over the forecast period owing to economic development. The country is characterized by a low-risk environment, a stable economy, and a robust financial sector.

These factors have provided a multitude of opportunities for investors in recent years, which are likely to trigger infrastructure spending in the country. This, in turn, is projected to positively impact the demand for concrete floor coatings in the U.S. construction industry. Furthermore, the rising demand for residential, commercial, and industrial structures in North America is anticipated to help boost the consumption of effective flooring solutions for providing wear and tear, corrosion, and thermal resistance.

As a result, the market for concrete floor coatings is expected to witness significant growth in the region over the forecast period. Moreover, rising government investment in infrastructure development is fueling the growth of the construction industry in the region, thereby creating demand for floor coatings. For instance, in October 2021, the Mexican government announced that a USD 14.9 billion has been made as an infrastructural investment in cooperation with the private sector companies for 29 projects as part of Acuerdo para la Recuperación Económica (Economic Recovery Agreement).

This announcement shows an interest between the private companies and the government to develop the infrastructure of Mexico. The announcement of infrastructural development in Mexico is anticipated to promote the demand for concrete floor coatings over the forecast period. The government also announced to establish a new airport with an investment of USD 9.7 billion in Mexico City, which will have a capacity to handle 120 million passengers at any given point in time.

Report Scope of the North America Concrete Floor Coatings Market

Report Coverage

Details

Market Size in 2021

USD 954.6 million

Revenue Projection By 2030

USD 954.6 million

Growth Rate

CAGR of 8.7% from 2022 to 2030

Base Year

2021

Historical data

2017 - 2020

Forecast Period

2022 to 2030

Segments Covered

Product, application, country

Companies Mentioned

 TruCrete Surfacing Systems; The Sherwin-Williams Company; North American Coating Solution; Henkel AG & Co. KGaA; BASF SE; Vanguard Concrete Coating; Tennant Coatings; Jotun; Axalta Coating Systems; PPG Pittsburgh Paints

 

Product Insights

The epoxy segment led the market and accounted for a revenue share of more than 41.0% in 2021. Epoxy concrete floor coatings exhibit properties such as excellent adhesion, heat and chemical resistance, and favorable electrical insulation, which have led to their increased popularity in concrete floor coating formulations. In addition, the low cost of epoxy concrete floor coatings compared to their counterparts is expected to have a favorable impact on the market over the forecast period.

However, epoxy concrete floor coatings are ineffective during UV exposure, since the UV light reacts with the coated surface to form radicals. The aforementioned trend is expected to hamper market growth. The U.S. Environmental Protection Agency (EPA) has framed various directives intended for reducing the greenhouse gas (GHG) emissions from paints and coatings, which is anticipated to restrict the use of hazardous chemicals in coating formulations. Epoxy concrete floor coatings are either water-based or solvent-based.

Solvent-based epoxy concrete floor coatings contain polycarbonate, which has been declared hazardous by the EPA. Rising inclination toward restricting VOC emissions, coupled with the growing awareness regarding eco-friendly alternatives such as powder coatings, is anticipated to boost the market growth for water-based concrete floor coatings over the forecast period. Water-based epoxy concrete floor coatings are mostly used in moisture barrier applications and are characterized by a creamy and smooth texture.

Application Insights

The outdoor application segment dominated the market and held a revenue share of more than 62.1% in 2021. Rising penetration of sports stadiums in the U.S. on account of the high prevalence of sports games such as football, rugby, ice hockey, and tennis in the U.S. and Canada is anticipated to promote the role of flooring solutions. The rising importance of flooring solutions is anticipated to fuel the demand for concrete floor coatings in outdoor applications in sports stadiums.

A change in urban lifestyle, increasing preference for concrete floors, and rising awareness regarding safety in commercial parking areas are creating additional demand for concrete floor coatings. Indoor applications include basements, garages, and interiors of residential and commercial buildings. The expanding application scope of floor coatings in the industrial and commercial sectors on account of providing heat and wear resistance is projected to boost then market demand in indoor applications over the coming years.

Country Insights

The U.S. dominated the North American market and captured a revenue share of over 72.0% in 2021. The market is expected to be primarily driven by the growing construction industry across the U.S. Further, the growing demand for green building is anticipated to fuel the growth of the construction industry in the country, thereby creating demand for concrete floor coatings.

The construction sector in the U.S. is expanding at a significant rate owing to positive market fundamentals for commercial real estate and a strong economy, along with the rising state and federal funding for institutional buildings and public works. For instance, in March 2021, the U.S. government announced an investment worth USD 2 trillion as a part of coronavirus response for the development of infrastructure including hospital buildings, roads, and other infrastructure.

Key Companies & Market Share Insights

The North American market for concrete floor coatings is fragmented with the presence of several key players and various medium and small regional players. The players face intense competition from each other as well as from regional players, who have strong distribution networks and good knowledge about suppliers and regulations.

Manufacturers of concrete floor coatings aim to achieve optimum business growth and strong market positioning through new product development, mergers & acquisitions, and collaborations and partnerships, among others. For instance, in September 2020, PPG Industries announced to launch PPG Flooring coatings, which are a comprehensive line of coating systems that comprise prime coats, base coats, and topcoats. This coating line is designed to provide optimum performance based on specific work environments i.e., general-purpose, wear-resistant, chemical resistant, and urethane cement with additional customization options. Some prominent players in the North America concrete floor coatings market include:

  • TruCrete Surfacing Systems
  • The Sherwin-Williams Company
  • North American Coating Solution
  • Henkel AG & Co. KGaA
  • BASF SE
  • Vanguard Concrete Coating
  • Tennant Coatings
  • Jotun
  • Axalta Coating Systems
  • PPG Pittsburgh Paints

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at North America for the period of 2017 to 2030

  • By Product
    • Acrylic
    • Epoxy
    • Polyurethane
    • Polyaspartic
    • Others
  • By Application
    • Outdoor
    • Indoor
  • By Country
    • U.S.
    • Canada
    • Mexico

Key Points Covered in North America Concrete Floor Coatings Market Study:

  • Growth of North America Concrete Floor Coatings in 2022
  • Market Estimates and Forecasts (2017-2030)
  • Brand Share and Market Share Analysis
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise
  • Competition Mapping and Benchmarking
  • Recommendation on Key Winning Strategies
  • COVID-19 Impact on Demand for North America Concrete Floor Coatings and How to Navigate
  • Key Product Innovations and Regulatory Climate
  • North America Concrete Floor Coatings Consumption Analysis
  • North America Concrete Floor Coatings Production Analysis
  • North America Concrete Floor Coatings and Management

Report Detail

  • Report Code:6643
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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