Concrete Floor Coatings Global Market Opportunities and Strategies to 2033

This report describes and explains the concrete floor coatings market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global concrete floor coatings market reached a value of nearly $1.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.99% since 2018. The market is expected to grow from $1.6 billion in 2023 to $2.3 billion in 2028 at a rate of 6.84%. The market is then expected to grow at a CAGR of 7.57% from 2028 and reach $3.3 billion in 2033.

Growth in the historic period resulted from rapid urbanization, increasing disposable income, growth in the automotive and manufacturing industries and increase in world population. Factors that negatively affected growth in the historic period were uncertainty around trade relationships and availability of substitutes such as tiles, carpet and bamboo flooring.

Going forward, growth in residential and commercial construction activities, growth of the hospitality and retail sectors, rising investment in infrastructure projects and rapid growth in renovation and remodeling projects will drive the growth. Factor that could hinder the growth of the concrete floor coatings market in the future include limited availability of skilled labor for proper application of coatings and disadvantages of polished concrete floors due to improper installation.

The concrete floor coatings market is segmented by products into epoxy, polyaspartic, acrylic, polyurethane and other products. The epoxy market was the largest segment of the concrete floor coatings market segmented by products, accounting for 62.8% or $1 billion of the total in 2023. Going forward, the polyaspartic segment is expected to be the fastest growing segment in the concrete floor coatings market segmented by products, at a CAGR of 7.49% during 2023-2028.

The concrete floor coatings market is segmented by component into one-component, two-component, three-component and four-component. The one-component market was the largest segment of the concrete floor coatings market segmented by component, accounting for 45.2% or $736.4 million of the total in 2023. Going forward, the three-component segment is expected to be the fastest growing segment in the concrete floor coatings market segmented by component, at a CAGR of 8.45% during 2023-2028.

The concrete floor coatings market is segmented by end-use sector into residential, commercial and industrial. The residential market was the largest segment of the concrete floor coatings market segmented by end-use sector, accounting for 55.3% or $901.72 million of the total in 2023. Going forward, the residential segment is expected to be the fastest growing segment in the concrete floor coatings market segmented by end-use sector, at a CAGR of 7.06% during 2023-2028.

The concrete floor coatings market is segmented by application into outdoor and indoor. The indoor market was the largest segment of the concrete floor coatings market segmented by application, accounting for 68.1% or $1.1 billion of the total in 2023. Going forward, the outdoor segment is expected to be the fastest growing segment in concrete floor coatings market segmented by application, at a CAGR of 7.37% during 2023-2028.

Asia-Pacific was the largest region in the concrete floor coatings market, accounting for 44.2% or $720.71 million of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the concrete floor coatings market will be Asia-Pacific and Eastern Europe where growth will be at CAGRs of 7.72% and 6.71% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 6.53% and 6.34% respectively.

The global concrete floor coatings market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up 22.98% of the total market in 2022. BASF SE was the largest competitor with a 3.09% share of the market, followed by Nippon Paint Co. with 3.05%, Sika AG with 2.22%, Ardex GmbH with 2.21%, The Sherwin-William Company with 2.20%, RPM International, Inc with 2.17%, Tennant Company with 2.13%, DAW SE with 2.08%, Asian Paints with 2.01% and Behr Process Corporation with 1.82%.

The top opportunities in the concrete floor coatings market segmented by products will arise in the epoxy segment, which will gain $408.96 million of global annual sales by 2028. The top opportunities in the concrete floor coatings market segmented by component will arise in the one- component segment, which will gain $254.0 million of global annual sales by 2028 The top opportunities in the concrete floor coatings market segmented by application will arise in the indoor segment, which will gain $416.59 million of global annual sales by 2028. The top opportunities in the concrete floor coatings market segmented by end-use sector will arise in the residential segment, which will gain $366.66 million of global annual sales by 2028. The concrete floor coatings market size will gain the most in China at $192.39 million.

Market-trend-based strategies for the concrete floor coatings market include introduction of new concrete floor coatings addressing specific market needs, strategic partnerships and acquisitions to offer products in residential and commercial settings, focus on expansion and investment in concrete floor coating facilities, integration of cool surface technology in floor concrete coatings and development of self-levelling flooring solutions to meet various industry demands.

Player-adopted strategies in the concrete floor coatings market include focus on expanding its business through strategic acquisitions and focused on new product developments to develop their business expertise.

To take advantage of the opportunities, the analyst recommends the concrete floor coatings companies to focus on innovating concrete floor coatings, focus on innovative cool surface technology, focus on self-leveling solutions for comprehensive flooring packages, focus on fastest-growing market segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and acquisitions, focus on expanding distribution channels, provide competitively priced offerings, participate in trade shows and events, prioritize digital marketing channels, focus on residential end-users and focus on targeting outdoor segment.