As a result, the service industry demand for concrete restoration, floor maintenance, surface refinement, and concrete resurfacing is constantly increasing. This greatly impacts the perpetual need for concrete equipment, tooling, materials, and supplies, to say the least. The industry for Concrete Floor Coatings and Polished Concrete is going to continue driving the desire of customers worldwide into making these their primary choices for flooring, and the experts at Xtreme Polishing Systems are here to properly assist you every step of the way.
The Market for Industrial Floor Coatings
People began opting for concrete floor coatings mainly because their characteristics acted as a protective medium while increasing the aesthetic appeal of concrete floors AND at a relatively low cost. For this reason, concrete floor coatings soon crept in and successfully pacified the industrial construction industry. Aside from the more practical uses of concrete floor coatings, such as providing chemical resistance and floor protection from extreme conditions, they also increase the aesthetics and enhance floors’ appearance for added appeal and value. However, the inconsistent and fluctuating cost of raw materials can hinder the market growth.
The perceived marketability and the continuous increase in demand have market manufacturers conducting research studies to develop and drive product innovations that align with end-user requirements. Among the biggest consumers of concrete floors are the commercial and construction industries. Recently, emerging economies exhibit strong demand for commercial spaces, attributable to the rising service sector. For example, Europe will receive a 31 million square meter space to cater to the growing service sector over the next five years. The concrete floor coatings industry’s strong marketability has promoted vigorous economic growth and has allowed for Southeast Asia to be visible on this industry’s map.
In North America and Europe, the concrete floor coatings market will inevitably undergo a significant growth rate due to the efforts to revive residential dwellings. Furthermore, more opportunities await industry participants as the strong e-commerce industry fostered rapidly growing warehouses. The modernization of commerce and the increasing logistics and distribution sector are actively supplementing the product demand. Additionally, the industry’s market growth affirms the concrete floor coatings industry by growing end-user industries and the current sustainable construction practices. For one, the challenging flooring requirement for using different chemicals at high temperatures may increase the product demand. However, the government’s strict regulations to address the VOC emissions from certain systems may, or may not stunt the floor coatings market growth.
Raw materials get acquired primarily from petrochemicals, dependent on crude oil prices that consistently change from time to time depending on the concrete floor coatings industry’s supply-demand dynamics. Common examples of petrochemical products used in producing varying types of floor coatings are propylene and benzene. The constant fluctuation of prices presents an essential issue as raw material cost constitutes a significant part of the overall production cost.
COVID-19 and its Impact on the Industry
With the ongoing Covid-19 pandemic, the floor coating market has yet to repaint the product demand’s grim picture shortly. As expected, the pandemic has affected the supply chain, only allowing a limited flow of raw materials and finished products adversely. Furthermore, the projection for the concrete floor coatings market value will reduce in the foreseeable future as a cash crunch and the exhausted economy have forcibly lowered construction activities worldwide. The concrete floor coatings market size was USD 1.41 billion in 2019 and received a CAGR growth projection of 6.2% from 2020 to 2026. While the Covid-19 pandemic brings about a few considerable losses, the progressing residential construction industry, together with the growing demand for commercial spaces, remains a focal factor for this industry’s growth. The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods.
The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in the healthcare and food industries. The report will account for Covid19 as a key market contributor. Regardless of this worldwide pandemic, concrete is truly a building and construction essential. From its solid structural characteristics to its aesthetic properties, you cannot question the versatility of concrete. But, concrete is not without its kryptonite. Concrete is not indestructible; thus, it needs the protection of concrete floor coatings to preserve its properties and aesthetic appearance. Allow the professionals from Xtreme Polishing Systems to give you insight.
The Market for Polished Concrete Floors
Projections for the global polished concrete market predict an increase in size from USD 2.2 billion in 2020 to USD 3.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.6%. This projection may be attributable to the continuous growth of the demand for durable, low-maintenance, appealing, and affordable flooring applications and construction products worldwide.
In terms of value, the densifier segment should be the fastest-growing segment by 2025. Projections indicate that the densifier segment will grow the highest CAGR from 2020 to 2025. This growth is attributable to the benefits it offers, such as the protection of concrete flooring systems from chemicals, staining, penetrable fluids, wear, and degradation. Professionals widely prefer densifier segments for concrete polishing. With this preference comes the increase in demand, which received a projection to accelerate during the forecast period, with the market’s growth from non-residential sectors. However, the dry segment should become the fastest-growing segment from 2020 to 2025 for polished concrete when considering value and volume.
Polishing concrete via dry segment is projected to be the fastest-growing method by 2025. This growth may be attributable to the higher shine and durability it provides to the polished concrete floors. The dry concrete polishing method involves using commercial-scale concrete preparation machines, such as concrete floor grinders, polishers, and edgers to grind the surface of the concrete, creating a surface profile. Each stage of the procedure warrants different abrasive grinding tools and polishing discs with coarser textures for earlier stages and more refined textures as it reaches the final shine. When discussing value and volume, the non-residential sector is on track to become the fastest-growing polished concrete consumer from 2020 to 2025.
The non-residential sector demands polished concrete to cater to the increasing installations in new, non-residential buildings, renovations, and restructuring. Many updates are going on throughout the US, particularly, and polished concrete is essential for aesthetics and longevity. Polished concrete floors enhance the beauty and aesthetic appeal of any concrete. This very reason has been a focal factor driving the demand for polished concrete from industrial and commercial applications to the non-residential sector.
Progress Toward the Future
Concrete flooring in any type of facility endures serious abuse owing to constant foot traffic, heavy machinery, wear and tear, abrasion, as well occasional spills from oil and chemicals. These factors necessitate flooring solutions such as Concrete Floor Coatings and Polished Concrete because they are durable, easy to clean, and chemical/ abrasion-resistant. The information discussed throughout this article is a reported forecast of revenue growth at the country level. Below provides an expert analysis of the latest industry trends in each of the sub-segments from 2016 to 2028 on the basis of product, application, end-user, and division:
Concrete Floor Coatings – Product
- Epoxy
- Polyurethane
- Polyaspartic
- Other Systems
Concrete Floor Coatings – Application
Residential
- Garages
- Patios
- Walkways
- Basements
Commercial
- Restaurants & Breweries
- Supermarkets and Retail Stores
- Educational Institutions
- Other Commercial
Industrial
- Manufacturing Facilities
- Distribution Centers
- Warehouses
Concrete Floor Coatings – End User
- Do-It-Yourself (DIY)
- Professional
Concrete Floor Coatings – Division
- Northeast
- Midwest
- South
- West
Concrete Floor – Product
Concrete Resurfacing (Covering)
- Epoxy
- Polyurethanes
- Polyaspartics
- Other Systems
Concrete Polishing (Refining)
- Densifiers
- Sealers
- Grinding/ Polishing Tools
- Concrete Equipment
Concrete Floor – Application
- Residential
- Commercial
Conclusion
At Xtreme Polishing Systems, our team of experts understands that concrete can variate in properties, therefore each slab must be treated differently. We also know how common it is for those unforeseen complications to occur after hours while still on the job site. It is crucial to have immediate support for achieving beautiful concrete finishes.
Whether you’re a professional contractor or a do-it-yourself type of person, our top-of-the-line concrete product supply and industry expertise are available to anyone. Our pros are here to discuss all your project concerns to assist you every step of the way, from START to FINISH.
Questions? We would love to hear them! Our professionals are readily available to answer all your questions and to provide you with concrete knowledge and industry expertise in the overall preparation and completion of a concrete floor project. Shop Online or Call (877) 958-5732 for all your concrete flooring needs!
