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Concrete Floor Coatings Market Size
The global concrete floor coatings market size was valued at USD 1.4 billion in 2023 and is estimated to grow at a CAGR of over 6.2% from 2024 to 2032. Industrial and commercial expansion, coupled with a surge in construction activities and advancements in coating formulations, are driving the growth of the market. As industries like manufacturing, warehousing, and retail expand, the demand for durable and low-maintenance flooring solutions rises.
For instance, the U.S. economy places significant emphasis on the construction industry. In 2023, construction spending in the U.S. hit USD 1.98 trillion, up 7.4% from 2022. This surge was fueled by nonresidential construction, which experienced a robust 17.6% year-over-year growth. Global urbanization and infrastructure projects fuel the demand for concrete coatings in both new constructions and renovations. Advancements in coating formulations, including quicker curing times and superior performance traits, not only elevate user experience but also widen the scope of applications.
As a result, the global concrete floor coatings are set to maintain their upward trajectory, driven by the industrial and commercial expansion, heightened construction activities, advancements in coatings, growing awareness of sustainability, and stringent regulations on workplace safety and hygiene.
What is the market share of the two-component epoxy resin segment?
The two-component epoxy resin segment held around 54% of the total market share in 2023 and is anticipated to grow at a 6.2% CAGR during the forecast period, owing to its strong penetration and adhesion properties.
How much is the U.S. concrete floor coatings industry worth?
The U.S. market accounted for 79% of the revenue share in 2023, led by a surge in residential and commercial construction projects and ongoing innovations in coating formulations.
How big is the global concrete floor coatings market?
The market size of concrete floor coatings reached USD 1.4 billion in 2023 and is estimated to grow at a 6.2% CAGR from 2024 to 2032, driven by industrial and commercial expansion and advancements in coating formulations.
Who are the major players in the concrete floor coatings market?
The key players in the industry include Ardex Group, Asian Paints, BASF, Cipy Polyurethanes, Flowcrete Group, Hempel, MC-Bauchemie, Penntek Industrial Coatings, PPG Industries, RPM International, Saint-Gobain, and Schomburg.