Concrete Floor Coatings Market to Undertake Strapping Growth During 2020
The
global floor coatings market is anticipated to witness a highly
fragmented competitive scenario, owing to large number of players
operating in the market. Some of the major players in the market are
Royal DSM, Nippon Paint Co., BASF SE, DAW SE, and Behr Process Corp.
These firms are indulging extensively into long-term trade contracts
with its end users, especially in construction application, so as to
get a firm foothold in the market and increase their global reach.
The leading firms are estimated to increase their investment in terms
of capital, stressing more on research and development activities,
along with improved product quality to fulfil the consumer
requirements.
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According
to a recent report by Transparency Market Research (TMR), the global
floor coatings market is prognosticated to expand at a steady CAGR of
6.80% within the forecast period from 2014 to 2020. The market was
evaluated to be a worth of US$0.7 bn in year 2013, and is likely to
reach around US$1.1 bn by the end of 2020.
On
the basis of application, the concrete floor coatings is used
extensively in outdoor and indoor infrastructural settings. However,
the indoor segment is estimated to experience a comparatively higher
demand, owing to the propelled use of floor coatings in commercial
construction and industrial sectors, in forthcoming years.
Geographically, Asia Pacific region is leading the global concrete
floor coatings market in coming years, due to increase in number of
well-settled manufacturers in the region, and setting up of
production plants as well.
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The
increase in sales of concrete floor coatings is supported mainly by
notable growth in development activities, activated broadly because
of high industrialization and the increasing urbanization over the
world. The increasing awareness about the safety given by concrete
floor coatings from thermal shocks and chemical attacks to floors is
as well fueling this market globally. As manufacturers and customers
are being aware about the few advantages of concrete floor coatings,
it is normal that the market will become considerably accomplished in
the following couple of years. The high development plan of the
buildings and construction sector in developed and developing
regions, is anticipated to trigger the development of the global
concrete floor coatings market.
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Fluctuation
raw Material Cost to Hinder market Growth
While
the global market for concrete floor coatings represents a noteworthy
future, the unstable costs of raw materials may make deterrents in
the development scope of this market within the forecast period.
Nevertheless, the growing demand for concrete floor coatings in
industrial segments and commercial buildings in developing economies
is anticipated to reduce the effect of the hindering factor in coming
years. The expanding capability of the constructions and buildings in
growing regions is additionally anticipated to push this market over
the forthcoming years.
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