March 18, 2020
According to the report titled ‘North America Concrete Floor Coatings Market Size by Product, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, North America concrete floor coatings market is expected to surpass USD 1.5 billion by the year 2024.
As per the report, rapid expansion of the construction industry is a major factor driving the growth of concrete floor coatings market in North America. The product offers benefits such as resistance to deterioration and is ideal for use in commercial and residential buildings. Surging investments towards infrastructural development is further aiding the market expansion. Reportedly, the construction sector in U.S. was worth USD 1.2 trillion in the year 2017 and is expected to exceed the valuation of USD 1.42 trillion by the year 2021. Growing population and improving economic conditions are boosting the construction activities, which in turn is fostering the demand for concrete floors coatings across the region.
As per product type, polyaspartics concrete floor coatings market segment is presumed to expand with a CAGR of 7% during the study period. The product offers high resistance to UV radiation and hence is extensively used for outdoor applications. On the other hand, polyurethane segment is expected to register significant growth through 2024, primarily due to favorable government regulations which promote the adoption of bio-based products for coating applications.
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The report states that indoor application segment of North America concrete floor coatings industry will witness lucrative growth in the forthcoming years. The growth is attributed to increasing construction of offices, residential buildings and commercial spaces.
Corner Stone Coatings, Euclid Chemical, CPC Floor Coatings, General Polymers, BASF, Advacoat Concrete Floor Coatings, Axalta, International Coatings Inc., North America Coating Solutions, AkzoNobel, Bostik Inc., Gaco Western Inc., International Coatings Inc., Vexcon Chemicals, Elite Crete Systems, and ITW Polymers Sealants North America are the prominent companies operating in North America concrete floor coatings market.
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