The North America concrete floor coatings market size was exhibited at USD 435.15 million in 2023 and is projected to hit around USD 702.09 million by 2033, growing at a CAGR of 4.9% during the forecast period 2024 to 2033.
Report Coverage | Details |
Market Size in 2024 | USD 456.47 Million |
Market Size by 2033 | USD 702.09 Million |
Growth Rate From 2024 to 2033 | CAGR of 4.9% |
Base Year | 2023 |
Forecast Period | 2024-2033 |
Segments Covered | Product, Application, Country |
Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Country scope | U.S., Canada, Mexico |
Key Companies Profiled | TruCrete Surfacing Systems; The Sherwin-Williams Company; North American Coating Solution; Henkel AG & Co. KGaA; BASF SE; Vanguard Concrete Coating; Tennant Coatings; Jotun; Axalta Coating Systems; Elite Crete Systems; Stonhard; PPG Pittsburgh Paints; Key Resin Company; BEHR Process Corp.; EPMAR Corp.; Pratt & Lambert; Dex-O-Tex; Florock; Garland Industries, Inc.; Tnemec; Cornerstone Coatings; Westcoat Specialty Coating Systems |
This is attributable to the rising infrastructure developments, business firms, and educational institutions majorly in the U.S. The country contributed the maximum share of the product market owing to abundant resources and buying power, which, in turn, is expected to drive the market growth.
Floor coatings are widely used in residential, industrial, and commercial applications owing to properties, such as corrosion & thermal shock resistance, moisture, and chemicals. They are used to increase the shelf life of the floor reducing the maintenance requirements along with providing decorative aspects and protection.
Various rules are applicable for the manufacturing of coatings, due to the carcinogenic and flammable nature of solvents. However, powder-based products are eco-friendly as they contain no solvents and hence do not lead to volatile organic compounds (VOCs), emissions of which cause air pollution. Moreover, powder-based products are gaining popularity as they have an advantage over other products, in terms of environmental regulations, given their solvent-free and VOC-free nature. This is likely to propel the market growth over the coming years.
In addition, the increasing consumer spending across end-use industries is expected to support market growth. These products are used in indoor and outdoor applications of residential, commercial, and industrial structures, such as waste disposable systems, stadiums, and religious monuments. Indoor applications include basements, garages, and interiors of residential and commercial buildings. Outdoor applications comprise pavements, sports stadiums, floors of waste disposable systems, and religious monuments.
Epoxy, polyurethane (PU), and polyaspartic are the majorly used products as concrete floor coatings in North America. Epoxy-based products include solids, solvent-borne, and water-based products. Furthermore, PU-based products cover moisture cure, solvent-borne, solids, and water-based products. Other product types include polyuria-based coatings.
The outdoor applications segment dominated the market with a revenue share of 61.41% in 2023. The rising establishments of sports stadiums on account of the growing popularity of sports, such as football, rugby, ice hockey, and tennis, in the U.S. and Canada is anticipated to promote the role of flooring solutions. In addition, a change in urban lifestyle, increasing preference for concrete floors, and rising awareness regarding safety in commercial parking areas are creating product demand.
The indoor applications segment includes basements, garages, and interiors of residential and commercial buildings. The increasing application scope of floor coatings in sectors, such as industrial and commercial applications, on account of excellent heat and wear resistance is projected to boost product demand in indoor applications over the next seven years.
The epoxy product segment dominated the market and accounted for a share of approximately 41.0% in 2023. Epoxy-based products exhibit properties, such as excellent adhesion, heat and chemical resistance, and favorable electrical insulation, which have led to their increased popularity in formulations of these products. In addition, lower costs of epoxy-based products compared to their counterparts are expected to have a favorable impact on the market growth. Polyurethane concrete floor coatings are available in both solvent- and water-based formulations. These products offer high flexibility and abrasion, corrosion, & wear resistance, thus, paving their way for use as flooring solutions in residential, commercial, and industrial sectors.
In addition, PU coatings have high UV stability, which is anticipated to fuel their demand over the forecast period. However, the growing application scope of PU in adhesives & sealants for the automotive and construction industries across the region is anticipated to impact raw material availability for the production of PU-based products. Polyaspartic concrete floor coatings can perform at a wide range of temperatures. In addition, they exhibit properties, such as fast curing and high UV stability, which have helped increase their popularity. The aforementioned properties of polyaspartic-based products are anticipated to play a pivotal role in segment growth.
U.S. Concrete Floor Coatings Market Trends
The U.S. concrete floor coatings marketdominated the overall regional market and accounted for a share of 71.98% share in 2023. This high share is attributable to increased demand for green buildings, and subsequent rise in construction activities, owing to the rising awareness about the benefits associated with it coupled with increasing concern over sustainability. This, in turn, is projected to create a high demand for concrete floor coatings.
Canada Concrete Floor Coatings Market Trends
The concrete floor coatings market in Canadaisexpected to witness significant growth from 2024 to 2033. Positive economic outlook and growth in the residential as well as non-residential construction sectors are expected to create an opportunity for concrete floor coating manufacturers as well as contractors and service providers across Canada. However, uncertainty around the trade relationships with the United States is the biggest threat to the Canadian economy and, consequently to the construction sector. Another potential risk is the Canadian high household debt, making households more vulnerable to an economic or interest rate shock.
Mexico Concrete Floor Coatings Market Trends
The Mexico concrete floor coatings market isprojected to have steady growth over the forecast period. The product consumption in Mexico is primarily dependent upon the growth of the residential as well as non-residential construction sectors. The construction industry in Mexico has witnessed variable growth over the past few years, and a low growth, owing to several internal as well as external factors. These factors primarily include a decline in crude oil prices, global economic conditions, etc.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the North America concrete floor coatings market
Product
Application
Country
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Projection & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. North America Concrete Floor Coatings Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Global Concrete Floor Coatings Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Trends
3.2.2. Manufacturing/ Technology Trends
3.2.3. Sales Channel Analysis
3.3. Vendor Landscape
3.3.1. List of Raw Material Suppliers
3.3.2. List of Distributors/Channel Partners
3.3.3. List of Potential End-Users
3.4. Regulatory Framework, By Regions
3.5. Price Trend Analysis, 2021 - 2033 (USD/Kg)
3.5.1. Factors Influencing Prices
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.6.4. Industry Opportunities
3.7. Industry Analysis Tools
3.7.1. Porter’s Five Forces Analysis
3.7.2. Macro-environmental Analysis
Chapter 4. North America Concrete Floor Coatings Market: Product Estimates & Trend Analysis
4.1. Product Movement Analysis & Market Share, 2024 & 2033
4.2. North America Concrete Floor Coatings Market Estimates & Forecast, By Product, 2021 to 2033 (Kilotons) (USD Million)
4.2.1. Epoxy
4.2.1.1. Epoxy-based Concrete Floor Coatings Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.2. Polyurethane
4.2.2.1. Polyurethane-based Concrete Floor Coatings Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.3. Polyaspartic
4.2.3.1. Polyaspartic-based Concrete Floor Coatings Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.4. Acrylic
4.2.4.1. Acrylic based Concrete Floor Coatings Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.5. Other Products
4.2.5.1. Other Products-based Concrete Floor Coatings Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
Chapter 5. North America Concrete Floor Coatings Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2024 & 2033
5.2. North America Concrete Floor Coatings Market Estimates & Forecast, By Application, 2021 to 2033 (Kilotons) (USD Million)
5.2.1. Indoor
5.2.1.1. North America Concrete Floor Coatings Market Estimates and Forecasts, in Indoor, 2021 - 2033 (Kilotons) (USD Million)
5.2.2. Outdoor
5.2.2.1. North America Concrete Floor Coatings Market Estimates and Forecasts, in Outdoor, 2021 - 2033 (Kilotons) (USD Million)
Chapter 6. North America Concrete Floor Coatings Market: Country Estimates & Trend Analysis
6.1. Country Movement Analysis & Market Share, 2024 & 2033
6.2. U.S.
6.2.1. U.S. Concrete Floor Coatings Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Million)
6.3. Canada
6.3.1. Canada Concrete Floor Coatings Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Million)
6.4. Mexico
6.4.1. Mexico Concrete Floor Coatings Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Million)
Chapter 7. North America Concrete Floor Coatings Market - Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Company Market Share Analysis, 2023 (%)
7.4. Company Heat Map Analysis
7.5. Strategy Mapping
7.6. Company Profiles (Business Overview, Financial Performance, Product Benchmarking)
7.6.1. Trucrete Surfacing Systems
7.6.2. The Sherwin-Williams Company
7.6.3. North American Coating Solution
7.6.4. BASF SE
7.6.5. Vanguard Concrete Coating
7.6.6. Tennant Coatings
7.6.7. Jotun
7.6.8. Axalta Coating Systems
7.6.9. Elite Crete Systems
7.6.10. Stonhard
7.6.11. PPG Pittsburgh Paints
7.6.12. Key Resin Company
7.6.13. BEHR Process Corp.
7.6.14. Epmar Corp.
7.6.15. Pratt & Lambert
7.6.16. Dex-O-Tex
7.6.17. Florock
7.6.18. Garland Industries, Inc.
7.6.19. Tnemec
7.6.20. Cornerstone Coatings
7.6.21. Westcoat Specialty Coating Systems
7.6.22. Versatile Building Products
7.6.23. Henkel AG & Co. KGaA