- The global concrete floor coatings market is projected to develop at a CAGR of 6.4% during 2021-2031
- Surge in the construction activities across many developed and developing nations is propelling the concrete floor coatings market
- Increase in infrastructure development projects in emerging economies of Asia Pacific including India and China is bolstering the market
WILMINGTON, Del., Sept. 15, 2022 /PRNewswire/ -- The global concrete floor coatings market is estimated to reach a value of US$ 2.2 Bn by 2031, state analysts of a study by Transparency Market Research (TMR). This aside, the report by TMR notes that the market for concrete floor coatings is prognosticated to develop at a CAGR of 6.4% during the forecast period, from 2021 to 2031.
Major companies in the concrete floor coatings market are expected to gain sizable expansion opportunities in Asia Pacific during the forecast period. A surge in the number of commercial and residential construction projects in Asia Pacific is likely to lead to a biggest opportunity for concrete floor coatings market growth in the near future. This aside, a surge in the focus of regional government bodies on the infrastructure development activities is expected to drive the future business opportunities in concrete floor coatings market, note analysts at TMR.
Key players operating in the concrete floor coatings market are using different strategies such as collaborations, mergers, acquisitions, and partnerships in order to maintain their prominent positions. This aside, enterprises are investing heavily in the marketing of their products in order to boost their sales numbers. Furthermore, several companies in the market for concrete floor coatings are focusing on R&Ds in order to achieve product innovations. Such initiatives are prognosticated to result into the growth of the global concrete floor coatings market at substantial pace during the forecast period.
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Concrete Floor Coatings Market: Key Findings
- Concrete floor coatings are being increasingly adopted in the construction sector across the globe owing to their ability to provide protection from chemical attacks and thermal shocks. Hence, rising understanding on these advantages of the product is driving the growth avenues in the concrete floor coatings market, note analysts of a TMR study.
- The application of the concrete floor coatings is being increasing in the construction of residential and commercial structures owing to their ability to protect concrete floors from wear & tear and abrasions. Moreover, they are also being utilized in order to guard concrete floors from extreme climatic conditions. Over the period of past few years, there has been a rise in the number of construction activities globally in order to cater to the rising need for residential buildings due to increasing global population. Hence, rise in the construction projects worldwide is bolstering the global concrete floor coatings market, state analysts of a TMR assessment.
- With rapid industrialization and urbanization across many developed and developing nations globally, the demand for different types of industrial, commercial, and residential buildings is being increasing in these nations. This factor, in turn, is leading to a surge in the global demand of concrete floor coatings, note analysts at TMR.
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Concrete Floor Coatings Market: Growth Boosters
- Increase in the use of concrete floor coatings in the building and construction industry is fueling the market growth
- Surge in industrialization and urbanization in many emerging economies is expected to propel the concrete floor coatings market in the near future
Concrete Floor Coatings Market: Key Players
Some of the key players profiled in the report are:
- Deutsche Amphibolin-Werke von Robert Murjahn Stiftung & Company KG
- Nippon Paint Co.
- Royal DSM
- Behr Process Corp
- PPG Industries Inc.
- BASF SE
- The Sherwin-William Company
- RPM International Inc.
- The Valspar Corporation
Concrete Floor Coatings Market Segmentation
- Product Type
- Others (Including Acrylic and Polyurethane)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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