Kenneth Research recently added a report on ‘Concrete Coating Market’ which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Concrete Coating Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Concrete Coating Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022
Concrete coating is a technology to change the appearance of a surface area to get the desired finish. The primary and the most common need for this coating is not only to enhance the aesthetics (as it enhances the shine of the applied surface), but also to help the concrete to last longer without the need for repair.
A concrete coating helps to manage the surface of the concrete and builds up and protects through the layers of the coatings. Based on the resin used, this coating is usually classified as acrylic, epoxies, urethanes, and polyaspartics. Acrylic and alkyd-based concrete coatings are the two key types in the overall coating resin market, which have bigger market share, whereas epoxy, and PU are following in the market. These are the wide range of binders for coating applications that have created their potential space in the concrete coating market and are used till date. Different pigments are utilized to impart color or to change aesthetics of coatings.
The increasing construction in the BRICS nations is a promising growth potential for the concrete coating market and it has the maximum demand. The market has an advantage of bigger market share coming from China and India for the advanced building & construction technology. This gives Asia Pacific a lead in the global concrete coating market. Apart from this, European countries are also developing high demand following Asia Pacific owing to the higher consumer acceptance and large construction units. North America followed Europe and became the third largest market for concrete coating with heavy industrialization and consumer acceptance. Large infrastructure and high consumer spending in North America and Europe is increasing the market of concrete coating. Additionally, the Middle East & African countries are expected to show a high growth rate during the forecast period due to their increasing industrialization and higher market penetration.
Within the various application areas, the residential sector is highly dominating the market in overall concrete coating across regions owing to the high adoption rate and ease of application. Other than residential, the commercial sector is also increasing its market during the forecast period due to its decorative properties and increasing government interventions.
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The study of the global concrete coating market provides market size information and market trends along with the factors and parameters impacting the market in both short- and long-term. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision-makers to make better business plans and informed decisions for future business. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions.
According to Infoholic Research, the global concrete coating market is expected to grow at a CAGR of 7.3% during the forecast period to reach $33.19 billion by 2022. The acrylic based concrete coating is expected to maintain global dominance, which is driven by China, while the region is expected to contribute the highest toward the global concrete coating market during the forecast period. Some of the key players in concrete coating is RPM International, Sherwin-Williams, Technokotes, Akzonobel N.V, Axalta Coating systems, etc.
Report Scope:
• Resin Type
o Acrylic
o Alkyd
o Epoxy
o Polyurethane
o Others
• Applications
o Residential
o Commercial
o Industrial
o Others
• Regions
o Asia Pacific
o Europe
o North America
o Rest of the World
• Industry outlook: Market trends, drivers, restraints, and opportunities
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