7% growth for Concrete Floor Coatings Market by 2024, global revenue to reach $1.5bn

A comprehensive research study on Concrete Floor Coatings Market introduced by Global Market Insights, Inc. provides insights into the market size and growth trends of this industry over the forecast timeline.

Selbyville, United States - October 10, 2019 /MarketersMedia/ —

The concrete floor coatings market might witness a restraint to its growth in the near future, which is the fluctuating petrochemical price trends. This might affect the business negatively, since the petrochemical derivatives are the foremost raw materials used in the product market. Also, strict regulations concerning the product applications in the food processing units and the pharmaceutical laboratories hamper the industry growth by 2024. Still, the bio-based product development engagements by the manufactures are likely to unveil new opportunities for the product market in the forecast period.

Concrete floor coatings offer superior resistance in severe climatic circumstances, abrasions and wear & tear, owing to which it will witness significant demand across the commercial and residential construction structures. Also, by 2024, the flooring Market is projected to observe nearly 6% CAGR gains globally, which will consequently boost the concrete floor coatings market in the near future.

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Concrete Floor Coatings Market is estimated to exceed USD 1.2 billion according to this new research report. Global concrete floor coatings market will be primarily driven by the escalating construction industry, especially in the BRICS countries by 2024. In 2015, the total construction industry valuation in BRICS countries was about USD 2.5 trillion which is expected to surpass USD 8 trillion in the forecast period with CAGR up to 11%. This trend portrays brighter growth aspects for the product market by 2024.

The epoxy coatings segment generated over USD 400 million in 2015. Compared to the other variants, the epoxy coatings are lower in cost and bear high demand from the end-use industry applications such as infrastructure, residential structures and manufacturing facilities for its resistive properties against chemicals and abrasion. Following this trend, the product will have an impressive grow in the forecast timespan.

Owing to the unique characteristics of providing protection from injurious UV rays, polyaspartics segment is forecasted to have gains over 7% CAGR by 2024 for outdoor applications. Moreover, encouraging government initiatives for using bio-based raw materials in coatings will further drive the polyurethane concrete floor coatings in the future years.

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Globally increasing government expenditure towards the improvisation of public sector infrastructure in the recent years has influenced the demand for product in true sense. For the outdoor applications, concrete floor coatings market is set to observe gains over 6.5% in the forecast period.

In case of the indoor application segment, the rise in residential and commercial sector construction projects coupled with the increasing consumer awareness for implementing flooring solutions to enhance floor life will propel the product growth by 2024.

By 2024, Asia Pacific region is projected to have highest growth around 8% CAGR. The growth will be attributed to the ever-growing construction business in the emerging economies such as India, China and Japan. In 2015, North America generated over USD 300 million for the product market. Factors such as rising remodeling and renovation practices in residential sector, robust automotive, pharmaceuticals and hospitality industries will rouse demand for product in the flooring applications.

Partial Chapter of the Table of Content:

Concrete Floor Coatings Market By Product

o Epoxy
o Polyaspartics
o Acrylic
o Polyurethane
o Others

Concrete Floor Coatings Market By Application
o Outdoor
o Indoor

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Key market players are Royal DSM N.V., BASF SE, The Sherwin-William Company, DAW SE, RPM International Inc., PPG Industries Inc., Sika Corporation, The Valspar Corporation, Behr Process Corporation, Nippon Paint Co. Ltd., Henkel Corporation, Rodda Paint Co., Vanguard Concrete Coating, The Stonhard Group and Epmar Corporation.

Contact Info:
Name: Arun Hedge
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/concrete-floor-coatings-market

Source URL: https://marketersmedia.com/7-growth-for-concrete-floor-coatings-market-by-2024-global-revenue-to-reach-15bn/88926905

Source: MarketersMedia

Release ID: 88926905