The U.S. concrete floor coatings market was valued at USD 323.0 million in 2022 and is expected to expand at a CAGR of 4.9% from 2023 to 2030. Rising demand for coatings as a protective medium in the flooring sector is projected to remain as a favorable factor. Concrete floor coatings are used for providing high-temperature resistance to indoor and outdoor areas as well as for protecting floors in commercial and residential buildings against wear & tear. These coatings are also used for providing protection to the floors of non-building structures in the power, metal, and environmental protection industries. The increment in the U.S. construction sector coupled with the positive outlook towards manufacturing sectors anticipated to increase the demand for concrete floors and thus in turn will have a positive impact. Furthermore, rising demand for residential, commercial, and industrial structures in the U.S. is anticipated to help boost the consumption of effective flooring solutions for providing wear & tear, corrosion, and thermal resistance.Growing construction spending in the U.S. is expected to increase over the forecast period owing to economic development. The country is characterized by a low-risk environment, a stable economy, and a robust financial sector. These factors have provided a multitude of opportunities for investors in recent years, which are likely to trigger infrastructure spending in the country. This, in turn, is projected to positively impact the demand for concrete floor coatings in the U.S. construction industry.
The U.S. government has passed numerous regulations to improve the infrastructure including water supply systems at a domestic level for environmental protection. For instance, in October 2018, the U.S. Senate approved America’s Water Infrastructure Act. The bill focuses on new water projects that will be carried out by the Army Corps of Engineers and includes several provisions directly addressing the drinking water infrastructure. As a result, non-building structures, such as waste disposal and water supply systems, in the U.S. anticipated foreseeing an increased penetration of concrete floor coatings.
However, the rising threat from substitutes such as hardwood, tiles, marble, and flooring is anticipated to hamper the to hamper market growth over the forecast period. There has been a growing demand for wood, tiles, and marble among residential & commercial applications as these flooring solutions are easier to install and require relatively lesser skilled labor for installation as compared to concrete floors. In addition, the outbreak of COVID-19 in the country resulted in a halt or slowdown in construction activities in the first half of 2020, which negatively impacted the product demand in the U.S. Moreover, construction companies are recommencing their operations while adhering to government guidelines. This, in turn, is projected to fuel the overall market growth in the country over the forecast period.
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