Concrete Floor Coating Market (By Product: Epoxy, Polyurethanes, Polyaspartic; By Application: Outdoor, Indoor) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global concrete floor coating market was estimated at USD 4.57 billion in 2022 and it is expected to surpass around USD 7.7 billion by 2032, poised to grow at a CAGR of 5.35% from 2023 to 2032. The concrete floor coating market in the United States was accounted for USD 719 million in 2022.

Key Pointers

• Asia Pacific dominated the market with a revenue share of 39% in 2022
• The epoxy segment dominated the market with a revenue share of 61% in 2022. 
• The indoor application segment dominated the market with a revenue share of 68% in 2022

Report Scope of the Concrete Floor Coating Market

The industry’s growth is mainly attributed to the increasing investments in green buildings across the U.S. Green buildings incorporate the use of eco-friendly and lightweight materials to maintain and improve the indoor air quality and efficiency of energy, water, and other resources. The concrete floor coatings are designed to be VOC-free and eco-friendly. This factor is expected to drive the market during the forecast period. The world is anticipated to witness inclined growth over the coming years. The growth is attributed to the rising infrastructure developments, business firms, and educational institutions majorly in the Asia Pacific region.

The growth of the construction industry and the rising use of coatings in industrial, commercial, and residential applications are driving the industry. The country contributed to the maximum share of the market owing to abundant resources and high buying power, which, in turn, is expected to drive the regional market’s growth in the coming years. Due to the carcinogenic and combustible nature of solvents, there are several laws in North American nations, such as the U.S., in terms of coatings manufacture. Powder-based coatings, on the other hand, are environmentally beneficial since they do not include solvents and thus do not produce Volatile Organic Compounds (VOCs), which cause air pollution.

Moreover, powder coatings are gaining popularity since they have an advantage over other coatings, in terms of environmental regulations, given their solvent-free and VOC-free nature. This is likely to propel market growth over the coming years. Epoxy, polyurethane, and polyaspartic are the majorly used products as concrete floor coatings across the globe. Product types analyzed in the report include acrylic, epoxy, polyurethane, polyaspartic, and others. Epoxy concrete floor coatings include solids, solvent-borne, and water-based epoxy coatings. Polyurethane concrete floor coatings cover moisture-cure, solvent-borne, solids, and water-based coatings. Other product types include polyuria-based coatings.

Product Insights

The epoxy segment dominated the market with a revenue share of 61% in 2022. It is attributed to the product’s great heat and chemical resistance, good adhesion, and good electrical insulation. Furthermore, the cheap cost of epoxy concrete floor coatings in comparison to their counterparts is likely to benefit the segment growth. The polyaspartic segment is anticipated to expand at the fastest CAGR during the forecast period as these products can perform at a wide range of temperatures. Based on product, the industry has been further segmented into epoxy, polyurethane, acrylic, polyaspartic, and others.

In addition, they exhibit properties, such as fast curing and high UV stability, which has helped increase their popularity. Polyaspartic coatings are more abrasion-resistant, flexible, and UV-stable than epoxy coatings, and unlike polyurethanes, they are not moisture-sensitive. Polyaspartic coatings are slowly replacing two-layer epoxy-based coat and urethane topcoat systems with one-coat solutions that cure rapidly and perform well. As a result, process productivity improves and polyaspartic coating demand grows. The traditional epoxy coating technique is widely used in various sectors due to its low cost, simplicity of application, and excellent results.

Application Insights

The indoor application segment dominated the market with a revenue share of 68% in 2022. This high share is attributed to the outdoor application segment which is anticipated to register the fastest CAGR over the forecast period. The increasing penetration of sports stadiums in the U.S. and Canada due to the popularity of sports like football, rugby, ice hockey, and tennis is expected to boost the role of flooring solutions. Based on application, the overall industry has been further bifurcated into indoor and outdoor applications.

The growing use of concrete floor coating as a flavoring agent and acidulant in the food and beverage industry has resulted in substantial expansion opportunities for manufacturers. In addition, concrete floor coating serves as an acidity controller, food preservative, and pharmaceutical excipient, as well as a precursor to polyesters and an active component in alkyd resins.

Regional Insights

Asia Pacific dominated the market with a revenue share of 39% in 2022. This growth is primarily attributed to the increasing construction industry across the globe. The COVID-19 pandemic had severely affected the supply value chain, which, in turn, is limiting the flow of raw materials and transportation of finished products. Furthermore, the liquidity crisis and weakened economy have dropped construction activities around the globe, which will decrease the market value demand soon.

A positive economic outlook and growth in the residential and non-residential construction sectors are expected to create growth opportunities for manufacturers, contractors, and service providers across the globe. However, one of the biggest threats is the uncertainty around the trade relationships with the U.S. Another potential risk is the Canadian high household debt, making households more vulnerable to an economic or interest rate shock.

Concrete Floor Coating Market Segmentations:

By Product 

• Epoxy
• Polyurethanes
• Polyaspartic
• Others

By Application 

• Outdoor
• Indoor

By Regional 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa
  • Saudi Arabia