The Canada concrete floor coatings market features
a highly consolidated competitive landscape, with the top five
contributors to the market holding a substantial 70% of the overall
market in 2016, says Transparency Market Research in a recent report.
Strong growth of these leading companies, namely The Sherwin Williams
Company, PPG Industries Inc., BASF SE, RPM International Inc., and
Sika AG, is largely attributed to their continual efforts towards
attaining technological expertise and introducing innovative products
to the market.
Expanding their geographical reach with the help
of strategic acquisitions and mergers is one of the key growth
strategies adopted by companies in the market to strengthen their
hold. An instance is BASF SE’s recent acquisition. In December
2016, the company acquired Chemtell Group’s surface treatment
business from Albemarle Corp. in Charlotte, North Carolina to improve
its coatings portfolio as well as its position as a complete
solutions provider to global customers.
This 85 page report gives readers a
comprehensive overview of the Concrete Floor Coatings market.Browse
Market Research Report @
Transparency Market Research estimates that the
Canada concrete floor coatings market will expand at a healthy 5.2%
CAGR from 2017 to 2025, rising from a valuation of US$100.8 mn in
2016 to US$158.0 mn in 2025.
Epoxy Coatings to Keep Contributing Massive
Chunk of Revenue to Canada Concrete Floor Coatings Market
From a geographical standpoint, the Ontario
concrete floor coatings market accounted for more than 30% of the
Canada concrete floor coatings market in 2016. Rising urbanization,
increasing disposable income and increasing demand for residential
projects have been the prominent factors driving the market in
Ontario and are expected to help retain the province its leading
stance in the overall market in the next few years as well. In terms
of product type, the segment of epoxy coatings accounted for a
massive 60% of the overall market in 2016. The segment will continue
to account for a massive share in the Canada concrete floor coatings
market over the forecast period as well, but is expected to lose to
the segment of polyaspartics in terms of growth rate over the
forecast period.
Rising Demand from Thriving Construction Sector
to Drive Market
Strict environmental regulations in Canada are
expected to have a significant influence on the way the Canada market
for concrete floor coatings develops in the next few years. In its
transition to becoming an environmentally more sensitive country, the
government of Canada has put forward regulations to limit harmful
emission of VOCs from various paints and coatings. Almost all
provinces in the country have been experiencing reduction in
emissions since the last 10 years. Rise in demand from the blooming
construction industry is another key factor driving the overall
development of the Canada concrete floor coatings market.
Government programs such as Affordable Housing
Initiative (AHI) and New Building Canada Plan (NBCP) are projected to
propel the construction industry in Canada. This, in turn, is
anticipated to augment the market for concrete floor coatings.
Additionally, various government efforts to enhance the residential
and public infrastructure are likely to contribute to the growth of
the market. Upcoming projects of real estate, revitalization of
bridges, airport facility expansion, construction of hydroelectric
dams, and construction of LNG facilities are expected to augment the
demand for concrete floor coatings in Canada in the near future.
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This review of the Canada concrete floor coatings
market is based on a recent market research report published by
Transparency Market Research, titled “Concrete Floor Coatings
Market (Product Type - Epoxy and Polyaspartics; Application - Indoor
and Outdoor) - Canada Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2017 - 2025.”
For the study, the Canada concrete floor
coatings market has been segmented as follows:
Concrete Floor Coatings Market – Product Type
Analysis
- Epoxy
- Polyaspartics
- Others
Concrete Floor Coatings Market – Application
Type Analysis
- Indoor
- Outdoor
Concrete Floor Coatings Market – Provincial
Analysis
- Ontario
- Quebec
- British Columbia
- Alberta
- Saskatchewan
- Manitoba
- Atlantic
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