North America Concrete Floor Coatings Market Latest Innovations, Drivers and Industry Key Events by 2020

North America concrete floor coatings market is expected to reach USD 1.01 billion by 2020, according to a new study by Grand View Research, Inc. Construction industry growth in the U.S. post the Great Recession in 2008 - 2009, along with expansion of the domestic aerospace and energy sectors are anticipated to fuel concrete floor coatings demand over the forecast period. Introduction of the “National Infrastructural Plan (NIP)” by the government of Mexico, which is aimed at promoting residential and commercial infrastructure, is likely to augment market growth. The government plans to invest USD 590 billion over a period of four years between 2014 and 2018.

Indoor was the largest application segment, accounting for over 60% of the North American concrete floor coatings market volume in 2013. Housing sector growth in the U.S. and Canada is anticipated is expected to fuel concrete floor coatings demand in indoor applications over the forecast period. However, outdoor coatings are anticipated to witness fastest growth over the next six years owing to new product launches at competitive prices. Furthermore, rising consumer awareness regarding protection of exteriors to boost life span of the structure is expected to drive market growth during the projected period.

North America concrete floor coatings market demand was 214.3 kilo tons in 2013 and is expected to reach 329.0 kilo tons by 2020, growing at a CAGR of 6.3% from 2014 to 2020. Concrete floor coatings are used for providing excellent resistance against wear & tear, and high temperature to indoor and outdoor areas in residential and commercial buildings. Recovery of the construction industry in the U.S. is expected to have a positive impact on concrete floor coatings market growth over the forecast period. Positive construction industry outlook in Mexico on account of increasing government expenditure on infrastructure improvement is expected to drive concrete floor coatings market. Under the “National Infrastructure Program 2014-2018” introduced by the government of Mexico, USD 297 billion has been allocated for the development of domestic energy sector and includes 124 projects for the establishment of power plants and natural gas pipelines. However, growing demand for resilient floorings and soft coverings in North America is likely to restrain concrete floor coatings market demand in the near future. Concrete floor coatings emit substantial amounts of VOCs over a period. Rising awareness regarding the harmful effects of VOCs on human health has resulted in the implementation of a stringent regulatory framework which is anticipated to restrict market growth.

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Further key findings from the study suggest:

·       North America concrete floor coatings market demand was 214.3 kilo tons in 2013 and is expected to reach 329.0 kilo tons by 2020, growing at a CAGR of 6.3% from 2014 to 2020

·       Epoxy dominated the North America concrete floor coatings market, accounting for over 50% of the overall volume in 2013. Low cost of epoxy resin as compared to its counterparts is anticipated to have a positive impact on market growth in the near future.

·       Polyaspartics concrete floor coatings are expected to witness fastest growth over the forecast period owing to their superior properties including U.V. protection, fast curing and high temperature range

·       U.S. was the largest concrete floor coatings market in 2013, accounting for over 80% of regional volume share. Robust infrastructure development of commercial and residential structures in the U.S. is anticipated to fuel concrete floor coatings market demand. High prevalence of numerous manufacturing industries including automotive, FMCG, pharmaceutical, food & beverage and oil & gas sectors in the U.S. is expected to promote demand for concrete floor coatings over the forecast period.

·       North America concrete floor coatings market was dominated by four companies’ viz., Sika, BASF, General Polymers and Stonhard together accounting for over 40% of total market share in 2013. Other market participants include PPG, Tennant Company, Pratt & Lambert Paints, Elite Crete System, Behr Process Corporation, Bayer and DuPont

Grand View Research has segmented the North America concrete floor coatings market on the basis of product, application and region:

North America Concrete Floor Coatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)

·         Epoxy

·         Polyurethanes

·         Polyaspartics

·         Others

North America Concrete Floor Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)

·         Outdoor

·         Indoor

North America Concrete Floor Coatings Country Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)

·         U.S.

·         Canada

·         Mexico

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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