- The global Concrete Floor Coatings Market is projected to develop at a CAGR of 6.4% during the period 2021-2031
- The increase in construction activity in many developed and developing countries is driving the concrete floor coatings market
- Increase in infrastructure development projects in emerging markets Asia Pacific including India and China strengthens the market
Wilmington, Del., September 15, 2022 /PRNewswire/ — The global concrete floor coatings market is estimated at $2.2 billion by 2031, according to analysts in a study by Transparency Market Research (TMR). Apart from that, the report by TMR states that the concrete floor coatings market is anticipated to develop at a CAGR of 6.4% during the forecast period, 2021 to 2031.
Large companies in the concrete floor coatings market are expected to gain significant expansion opportunities Asia Pacific during the forecast period. The number of commercial and residential construction projects is increasing rapidly Asia Pacific is likely to result in a major opportunity for Concrete Floor Coatings Market growth in the near future. Apart from that, an increasing focus of regional government agencies on infrastructure development activities is expected to drive future business opportunities in the concrete floor coatings market, analysts at TMR note.
Major players in the Concrete Floor Coatings market are employing different strategies such as collaborations, merger, acquisitions, and partnerships to maintain their prominent positions. Apart from that, companies invest heavily in marketing their products to increase their sales. In addition, several companies in the concrete floor coatings market are focusing on R&D to achieve product innovation. Such initiatives are forecast to lead to significant growth of the global concrete floor coatings market over the forecast period.
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Concrete Floor Coatings Market: Key Findings
- Concrete floor coatings are increasingly used in the construction sector worldwide due to their ability to offer protection against chemical attack and thermal shock. Therefore, increasing understanding of these benefits of the product is driving growth avenues in the concrete floor coatings market, analysts of a TMR study note.
- The application of concrete floor coatings in residential and commercial construction is increasing due to their ability to protect concrete floors from wear and abrasion. In addition, they are also used to protect concrete floors from extreme climatic conditions. In recent years, the number of construction activities has increased worldwide to meet the increasing demand for residential buildings due to the growing world population. Therefore, the surge in construction projects worldwide is strengthening the global concrete floor coating market, according to analysts of a TMR assessment.
- With the rapid industrialization and urbanization in many developed and developing countries worldwide, the demand for various types of industrial, commercial and residential buildings in these countries is increasing. This factor, in turn, is leading to an increase in global demand for concrete floor coatings, analysts at TMR note.
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Concrete Floor Coatings Market: Growth Drivers
- The increasing use of concrete floor coatings in the construction industry is driving the market growth
- The surge in industrialization and urbanization in many emerging countries is expected to propel the concrete floor coating market in the near future
Concrete Floor Coatings Market: Major Players
Some of the key players featured in the report are:
- German amphibolin works by Robert Murjahn Stiftung & Company KG
- Nippon Paint Co.
- Royal DSM
- Behr Process Corp
- PPG Industries Inc.
- BASF SE
- The Sherwin-William Society
- RPM International Inc.
- The Valspar Corporation
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Concrete Floor Coatings Market Segmentation
- Product Type
- Others (including acrylic and polyurethane)
- North America
- Asia Pacific
- middle East & Africa
- Latin America
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