U.S. Concrete Floor Coatings Industry Overview
The U.S. concrete floor coatings market size is anticipated to reach USD 420.0 million by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 4.3% over the forecast period. Increasing demand for green buildings in the country is expected to drive market growth during the forecast period. 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 advent of VOC-free and eco-friendly products is also expected to boost the demand, thereby fueling the overall market growth over the forecast period.
U.S. Concrete Floor Coatings Market Segmentation
Grand View Research has segmented the U.S. concrete floor coatings market on the basis of product, application, end user, and division:
Based on the Product Insights, the market is segmented into epoxy, polyurethane, polyaspartic, other.
- The epoxy product segment led the market and accounted for more than 40.0% share of the overall revenue in 2020. These coatings exhibit properties, such as excellent adhesion, heat and chemical resistance, and favorable electrical insulation, which have led to their increased popularity in concrete floor coating formulations.
- The U.S. Environmental Protection Agency (EPA) has framed numerous directives intended for reducing GHG emissions, which is anticipated to restrict the application scope of hazardous chemicals. Epoxy concrete floor coatings contain polycarbonate, which is declared hazardous by the EPA.
Based on the Application Insights, the market is segmented into residential, commercial, industrial.
- The commercial application segment led the market and accounted for 54.01% share of the overall revenue in 2020.
- Residential applications include garages, patios, walkways, and basements for new houses and townhouses. The residential construction sector in the country is primarily driven by the growth in single-family housing units.
- According to the United States Census Bureau, 903,000 single-family homes and 352,000 multi-family units were completed in 2019.
Based on the End-user Insights, the market is segmented into do-it-yourself (DIY), professional.
- The professional end-user segment led the market and accounted for 75.0% of the revenue share in 2020.
- Professional concrete floor coating application is more durable as compared to DIY. Trained professionals use specialized equipment, such as shot blaster or diamond grinder, to mechanically clean and abrade the floor to ensure the coatings adhere appropriately to the concrete and not peel or delaminate over time.
- The application done by professionals is cost-effective in the long run. The Do-It-Yourself (DIY) segment is expected to witness the fastest growth rate of 4.5% during the forecast period.
Based on the Division Insights, the market is segmented into northeast, midwest, south, west.
- The South division segment led the market and accounted for more than 40.0% share of the overall revenue in 2020.
- For instance, in April 2019, the Mayor of Atlanta, Georgia, in partnership with Atlanta Housing and Invest Atlanta, announced a funding of USD 60 million for affordable housing projects to create and preserve more than 2,000 new affordable housing units in the city of Atlanta.
- For instance, in June 2019, the government of North Carolina announced a state budget of USD 24 billion as part of the new state-wide school construction and salary increases initiative.
Based on the Concrete Floor Product Insights, the market is segmented into coated, polished.
- The polished product segment led the market and accounted for more than 52% share of the revenue in 2020. The polishing of concrete floors results in the generation of a tremendous amount of slurry that crews must collect and dispose of.
- This disadvantage is expected to increase demand for coated floors restraining the market growth of polished floors. A rise in the building and construction expenditure in the country is expected to strengthen the demand for coated floors.
- Technological developments aimed at increasing production efficiency have countered the issue of a rise in raw material prices to some extent.
Based on the Concrete Floor Application Insights, the market is segmented into residential, commercial.
- The commercial application segment led the market in 2020 and accounted for more than 54% of the overall revenue share. The construction of hospitals and healthcare facilities is witnessing a growth in the country owing to the growing geriatric population.
- The residential segment is anticipated to witness lucrative growth owing to the numerous upcoming real estate projects in the country. Furthermore, the rise in consumer disposable income and consequent growing consumer attention toward home improvement are anticipated to drive the segment growth over the forecast period.
Key Companies Profile Market Share Insights
The market is highly fragmented with the presence of several key players. The key players face intense competition from each other as well as from regional players, who have strong distribution networks and good knowledge about suppliers and regulations. The fluctuation in prices of raw materials, such as epoxy resin and polyurethane, and their demand from other application industries are expected to hamper the market over the forecast period.
Some prominent players in the global U.S. concrete floor coatings market include
- The Sherwin-Williams Company
- Henkel AG Co. KGaA
- PPG Pittsburgh Paints
- Behr Paint Company
- EPMAR Corporation
- Sika Corporation
Order a free sample PDF of the U.S. Concrete Floor Coatings Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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