As the construction industry rebounds worldwide, for the concrete floor coatings market is also expected to boom in the next five years. A recent report by Transparency Market Research suggested that the worldwide market for concrete floor coatings could increase from $745.8 million in 2013 to $1.2 billion by the end of 2020 – that’s a compound annual growth rate of 6.8% for the period between 2014 and 2020.
Some interesting findings from the market report include the following:
- Demand for concrete floor coatings is driven by more informed consumers.
Buyers today are more knowledgeable about the benefits of concrete coatings. Concrete coatings can reduce thermal shocks, the effects of abrasion on floors, as well as the negative impact of chemical spills.
- The concrete floor coating market can be segmented into three categories:
- Polyaspartic floor coatings provide abrasion resistance, protection from UV light, and fast curing times.
- A second segment is epoxy floor coatings. This category accounts for the greatest sales. In 2013, epoxy based concrete floor coatings accounted for 55 percent of total demand.
- The third category is often referred to as “others” and it includes polyurethane and acrylic floor coatings.
- Certain factors affect price and availability of concrete floor coatings.
Although the future appears promising for concrete floor coating sales, raw material availability and prices could affect production levels for concrete floor coatings. Looking ahead, Asia Pacific is anticipated to have the highest demand for epoxy floor coatings. This can be attributed to the products’ affordable prices and wide availability.
Black Bear Coatings and Concrete has over 25 years of experience throughout New England resurfacing concrete in a variety of commercial settings. We would love speak to you about your needs and the benefits and applications of concrete floor coatings. Give us a call!