Concrete floor coatings have the ability to exhibit excellent resistance to wear, tear, abrasion and heat. Gaining popularity of epoxy resins on account of exhibiting excellent mechanical properties and high heat resistance is expected to play an important role in driving the concrete floor coatings market in the near future. Additionally, growing awareness towards floor coatings is expected to have a positive impact on the market in the near future. Positive construction industry outlook in BRICS on account of increasing government expenditure on infrastructure improvement is expected to drive concrete floor coatings market.
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Governments of various countries in the Middle East have started increasingly removing their reliance on the oil & gas industry and are in place focusing on the development of other sectors such as infrastructure, manufacturing, and power. As a result, Saudi Arabia, UAE, and Oman have increased their spending on infrastructure improvement which is expected to augment concrete floor coatings market demand in indoor and outdoor applications in the near future. Growing powder coatings demand coupled with the emergence of epoxy flooring as an eco-friendly alternative is expected to have a positive impact on concrete floor coatings market over the next six years.
EPA and European Commission have passed numerous regulations for restricting the use of coatings comprising of VOCs (Volatile Organic Compounds). This, in turn, is expected to hamper the concrete floor coatings market growth. Advancement in hydraulic fracturing resulted in increased supply of oil & gas, which would ensure raw material availability for the manufacturing of concrete floor coatings in the near future. In April 2012, DSM and Empresa Brasileira de Biotechnologia (Ebrabiotech) signed an agreement to launch bio-based concrete floor coatings. This development is expected to facilitate other market players to pursue their efforts on bio-based concrete coatings.
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Indoor application dominated concrete floor coatings market, accounting for more than 50% of global volume in 2013. Concrete floor coatings were majorly used in indoor applications, accounting for more than 50% of market volume in 2013. Growing application scope of floor coatings in industrial and commercial applications on account of providing heat and wear resistance is expected to drive market demand in indoor applications over the next six years. The increasing use of concrete floor coatings in outdoor locations such as basements, garage floor, stairs, and walkways is expected to fuel concrete floor coatings demand in outdoor applications.
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