The U.S. parking deck coatings market size is anticipated to reach USD 140.6 million by 2027, expanding at a CAGR of 7.5%, according to a new report by Grand View Research, Inc. Developments in the construction industry are likely to drive the demand for parking deck coatings. Increasing use of environment-friendly and energy saving products is also expected to influence the market positively.
The market is anticipated to be driven by rising construction activities in U.S. and the ascending demand for parking spaces in commercial buildings. The coating is used to offer high-temperature resistance to both indoor and outdoor areas as well as for protecting floors against wear and tear in parking decks. In addition, these coatings offer resistance to a broad range of contaminants found in parking and offer excellent flexible finish to withstand stresses that rubber tires impart onto the coat system.
Epoxy resins are made from a class of synthetic thermosetting polymers containing an epoxide group. The resins are widely used in parking structures owing to their excellent properties such as color stability, UV and weather-resistance, extreme temperature resistance, and waterproofing and blistering. All these properties help in minimizing installation labor costs and support parking garages to get back up and run in a short interval of time.
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Further key findings from the repot suggest:
- Polyurethane emerged as the fastest growing product segment in the market as it offers consistent finish, safety, and high-performance in extreme temperatures and various environmental conditions
- Rising demand for environment-friendly and energy saving products and solutions is expected to drive the U.S. parking deck coatings market
- The double-component technology segment accounted for market share of 31.6% in 2019 and is projected to witness the highest CAGR over forecast period
- Stringent environmental rules and regulations and focus on indoor air quality is anticipated to drive the epoxy segment
- Increasing investment from government and private institutions in the construction sector is projected to contribute to the rising demand for these coatings
- Key players in the market include Tennant Coatings; LATICRETE International, Inc.; Dur-A-Flex, Inc.; Sika AG; Tremco Incorporated; and Prime Resins Inc.
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Grand View Research has segmented the U.S. parking deck coatings market on the basis of product and technology:
U.S. Parking Deck Coatings Product Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
- Methyl Methacrylate
U.S. Parking Deck Coatings Technology Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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