Concrete floor market expected to top billion dollar mark by 2020

It has been estimated that the global value of the concrete floor coatings market will surpass the $1bn (£664m) mark by 2020.

Research firm Transparency Market Research has recently published a report that analyses the growth and trends of the market between 2014 and 2020. This document assessed factors of the market through the use of a SWOT analysis, and details market drivers, opportunities and threats to the market.

It is believed that the global concrete flooring market will reach a peak value of $1.1bn (£731.5m) in the next five years. This is an estimated compound annual growth rate of 6.8% from 2014 to 2020. The market value is set to skyrocket from the $745.8m (£495.6m) of 2013. This increase has been fuelled by the growth rate of the construction industry across the globe, with the demand for concrete flooring and its protective coating continuing to increase.

Concrete floor coatings are primarily used to protect flooring from thermal shocks, chemical attacks, and abrasion. These coatings are important as they can provide resistance against heat, wear and tear and other strains they will come under both in the construction process and through everyday exposure.

With areas such as the Asia-Pacific region having a huge impression on the global market in recent years, analysts believe that this rising trend is set to continue. The growing construction industry and continued increase in awareness for the need of concrete floor coatings will influence the growing value of this market.