A new report by Global Market Insights has predicted that the worldwide market for concrete floor coatings will be worth $1.80bn by 2027.
This growth is driven by the expansion of commercial space development as emerging economies increase industrialisation.
In 2020, the worldwide concrete floor coatings market was estimated to be worth $1.23bn. With a predicted compound annual growth rate of 6%, this means the value of this market will reach $1.80bn within six years.
Concrete floor coatings are used in industrial premises to provide a protective layer. They are widely employed in food processing areas, manufacturing, pharmaceutical facilities, and warehouses.
Within the market, acrylic floor coatings are expected to achieve the best growth rates. Acrylic coatings protect floors from ultraviolet radiation and water, and are available in a variety of colours that are resistant to fading. Concrete flooring can be recoated many times with acrylic coatings.
Concrete flooring is also popular in residential properties, where single or one-component coating is pre-mixed and easy to apply for indoor living spaces.
Though the growth in concrete coatings sales is expected in all countries, the report predicts that the Asia Pacific regions will have the fastest growth. Robust economic growth in India, China and Japan, along with the industrialisation of South East Asia, are driving the demand for floor coatings.
Many warehouses are being constructed to deal with the surge in online sales spurred by the pandemic, and most of these require coated concrete flooring.