NEW YORK, Feb. 10, 2021
NEW YORK, Feb. 10, 2021 /PRNewswire/ -- Award winning market research company Fact.MR has recently published an extensive report on the global concrete floor coatings market. As per its analysis, Fact.MR forecasts a positive outlook for FY2021-22, as the global construction industry witnesses a resurgence from the doldrums of the coronavirus pandemic. Eventually, long-term prospects are likely to remain bright, poised to register a CAGR close to 6% through the forthcoming decade.
The market has made credible progress in the historical period, as surging commercial and residential building construction has acquired major prominence, expanding at a value CAGR of approximately 4% from 2016-2020. While key projects came to a standstill in the previous year, lifting of lockdown restrictions have permitted the resumption of some critical projects- including the Harlow Public Health England campus worth £60 million and the Battersea Power Station, expected to become Apple's new headquarters across the United Kingdom.
Similarly, Balfour Betty, which secured a US$ 1.6 billion contract to expand Hong Kong Airport's Terminal 2 in August 2020, is likely to resume its trajectory, generating demand for high-quality concrete floor coatings. A plethora of such massive construction projects across Asia, Europe and the Americas are expected to create profitable opportunities for prominent concrete floor coatings manufacturers in the near future, prompting them to introduce a slew of innovative product offerings.
Governments are lending active support to provide a leverage to domestic construction industries. For instance, India's National Infrastructure Pipeline (NIP) is entrusted with provision of a positive and enabling environment to facilitate private investments in infrastructure projects, including public infrastructure networks such as railways and roadways. This is likely to broaden the manufacturing prospects of key concrete floor coatings providers in the long-run.
"Manufacturers are capitalizing on epoxy-based coatings, attributed to their ability to provide optimum protection against abrasion, turbulence, corrosive fluids and extreme temperatures, thus enhancing the longevity of existing infrastructure," remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR's Concrete Floor Coatings Market Study
BASF SE, Behr Process Corporation, DAW SE, Nippon Paint Co. Ltd., PPG Industries Inc., The Sherwin Williams Company and Valspar Corporation are among the most prominent concrete floor coatings manufacturers as profiled by Fact.MR. These manufacturers are widening their operations by diversifying product portfolios combined with heightened investments in collaborations, partnerships and acquisitions.
In January 2021, PPG Industries Inc. announced a definitive agreement to acquire global industrial and automotive coatings manufacturer Worwag, which will assist PPGs waterborne, direct-to-metal, liquid and powder coatings offerings across key geographies. This is anticipated to heighten the company's concrete floor coatings portfolio as well.
Also, Sherwin Williams announced the unveiling of its Colormix® Forecast palettes for the upcoming year, offering a diverse range of concrete buildings colors spectrum, including the Sanctuary Palette, Encounter Palette, Tapestry Palette and Continuum Palette among others.
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More Insights on the Concrete Floor Coatings Market
In its latest report, Fact.MR offers an unbiased analysis of the global concrete floor coatings market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of application (indoor and outdoor) and product (epoxy-based, polyaspartic, and other products), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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