According to Publisher, the global concrete coating market is expected to grow at a CAGR of 7.3% during the forecast period to reach $33.19 billion by 2022.
Concrete coating is a technology to change the appearance of a surface area to get the desired finish. The primary and the most common need for this coating is not only to enhance the aesthetics (as it enhances the shine of the applied surface) but also to help the concrete to last longer without the need for repair.
A concrete coating helps to manage the surface of the concrete and builds up and protects through the layers of the coatings. Based on the resin used, this coating is usually classified as acrylic, epoxies, urethanes, and polyaspartics. Acrylic and alkyd-based concrete coatings are the two key types in the overall coating resin market, which have bigger market share, whereas epoxy and PU are following in the market. These are the wide range of binders for coating applications that have created their potential space in the concrete coating market and are used till date. Different pigments are utilized to impart color or to change the aesthetics of coatings.
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The increasing construction in the BRICS nations is a promising growth potential for the concrete coating market and it has the maximum demand. The market has an advantage of bigger market share coming from China and India for advanced building & construction technology. This gives the Asia Pacific a lead in the global concrete coating market. Apart from this, European countries are also developing high demand following the Asia Pacific owing to the higher consumer acceptance and large construction units. North America followed Europe and became the third-largest market for concrete coating with heavy industrialization and consumer acceptance. Large infrastructure and high consumer spending in North America and Europe are increasing the market of concrete coating. Additionally, the Middle East & African countries are expected to show a high growth rate during the forecast period due to their increasing industrialization and higher market penetration.
Within the various application areas, the residential sector is highly dominating the market in overall concrete coating across regions owing to the high adoption rate and ease of application. Other than residential, the commercial sector is also increasing its market during the forecast period due to its decorative properties and increasing government interventions.
The study of the global concrete coating market provides market size information and market trends along with the factors and parameters impacting the market in both short and long-term. The study ensures a 360 view, bringing out the complete key insights of the industry. These insights help the business decision-makers to make better business plans and informed decisions for future business. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions.
The acrylic-based concrete coating is expected to maintain global dominance, which is driven by China, while the region is expected to contribute the highest toward the global concrete coating market during the forecast period. Some of the key players in the concrete coating are RPM International, Sherwin-Williams, Technokotes, Akzonobel N.V, Axalta Coating systems, etc.
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