U.S. Concrete Floor Coatings Market Size, Share & Trends Analysis Report By Product (Epoxy, Polyurethanes, Polyaspartics), By Application (Residential, Commercial, Industrial), By Division, By End-user, And Segment Forecasts, 2023 - 2030
U.S. Concrete Floor Coatings Market Growth & Trends
The U.S. concrete floor coatings market size is anticipated to reach USD 472.3 million by 2030, registering a CAGR of 4.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for green building in the country is expected to drive the market growth during the forecast period. Green buildings incorporate the use of eco-friendly and lightweight materials to maintain and improve the indoor air quality and efficiency of energy, water, and other resources. Since an ascending number of concrete floor coatings are being designed to be VOC-free and environment-friendly, their popularity is expected to increase during the forecast period and act as a driver for the overall U.S. concrete floor coatings market.
In addition, increasing spending on the commercial sector in the U.S. is further expected to fuel market growth during the forecast period. For instance, in March 2020, the U.S. government announced an investment worth USD 2.0 trillion as a part of the COVID-19 response for the development of infrastructure including hospital buildings, roads, and other infrastructure. Epoxy concrete floor coatings are expected to expand at a CAGR of more than 3.9% from 2021 to 2028. The high adoption rate of these types of coating in the flooring industry on account of providing excellent properties including improved durability and superior toughness is likely to have a significant impact in the next six years. These coatings are either water-based or solvent-based.
Epoxy floor coatings are widely preferred for garage application owing to their reasonable price, increased resilience to stains & tire marks, ability to cover minor imperfections such as flaws and spider cracks on the concrete, and ability to improve the floor appearance. As normal traffic on bare concrete can boost up the dust that has a tendency to further collect on storage items, cars, tool benches, and other items, the demand for anti-dusting products such as concrete floor coatings is increasing in the country.
Moreover, government initiatives to provide affordable housing units are expected to fuel the growth of the construction industry in the residential sector. This in turn is further expected to create demand for concrete floor coatings during the forecast period. For instance, the Mayor of Atlanta pledged to invest USD 1.0 billion to increase housing in order to construct and preserve 20,000 units of affordable housing within the city of Atlanta by 2026.
U.S. Concrete Floor Coatings Market Report Highlights
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