South African Concrete Floor Coatings Market Report

Market Insights

Floor coatings are tough protective layers used to protect concrete floors from wear and tear, corrosion, and harsh chemicals. They are also used to decorate floors by brightening or defining certain areas, and to cover stained concrete. The South African concrete floor coatings market experienced an impressive growth of 15.8% in 2021, and is estimated to maintain its growth momentum (5.1% CAGR, value basis) over the next five years, to reach a value of US$ 64 million in 2027. However, in terms of volume, the market experienced a huge decline of -17% in 2020 from 2019. The huge difference in value and volume growth is due to a spike in the price of materials in the wake of demand-supply gap.

In terms of value, the market was not much affected by the pandemic and experienced a decent growth in 2020. However, due to lack of demand and supply shortage, the market declined at a rapid pace in terms of volume. There has been a significant increase in the price of raw materials, particularly epoxy, over the last two years, resulting in a significant change in market dynamics in terms of value and volume.

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Segments' Analysis

Based on the product type, the market is bifurcated into epoxy, polyaspartic, polyurethane, acrylic, and others. Epoxy is expected to remain the biggest product type in the foreseen future. Epoxy coatings are preferred for all major applications because of their durability, ease of maintenance, chemical and impact resistance, and ability to prevent wear and tear. Polyurethane is gaining market traction due to its flexibility, shorter curing time than epoxy, abrasion resistance, resistance to solvents and alkalis, resistance to temperature extremes and scratching, chemical and heat resistance; making it ideal for bio-medical, food processing, freezing chambers, malls, airports, and hospitals.

Based on the application type, the market is segmented as indoor and outdoor. Indoor is expected to remain the larger and faster-growing application type during the forecast period. Indoor parking, cold storages, industrial warehouses, food-processing areas, automotive workshops, and aircraft hangars are some major indoor applications. Majority of industrial and commercial floor coatings are indoor only.

Based on the component type, the market is segmented as one component, two-component, three-component, and four-component. Among these component types, the two-component dominates the market. Epoxy is primarily used as two-component, with part-A resin or base and part-B hardener. Three-component includes base A, hardener B, and a filler or an aggregate C.

Based on the end-user type, the market is segmented as residential, commercial, and industrial. Among these end-user types, the industrial segment unassailably dominated the market. Epoxy and polyurethane coating systems are predominantly used for industrial application. Commercial to remain the second-largest end-user type during the forecast period. Key applications of commercial floor coatings are showrooms, malls, hospitals, workshops, stadiums, parking structures, walkways, supermarkets, etc. Residential floor coatings hold a minuscule share of the market.

Based on the industrial application type, the market is segmented as automotive, D&W, F&B, healthcare, mining & energy, and others. Among these application types, distribution & warehousing is estimated to maintain its dominance in the market till 2027. Food & beverage, the second-dominant segment, includes wine industries, meat, cheese, and dairy processing, and other food-processing areas. PU is majorly used in the F&B and healthcare industries as it exhibits high chemical resistance to corrosive substances, solvents, acids, hot oils, sugar, also it is food approved.         

Key Players

The supply chain of this market comprises several nodes including raw material suppliers, South African concrete floor coating manufacturers, applicators/installers and end-users. The following are some of the key players in the South African concrete floor coatings market:

• Jotun
• Master Builders Solution
• Sika AG
• Silikal
• Specialized Coating System
• StonCor Africa (Pty) Ltd
• Technical Finishes
• Verni-Spécialité Construction Products (Pty) Ltd
• Vuka Floors

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s South African concrete floor coatings market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 20 detailed primary interviews with the market players across the value chain in the South Africa and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The South African concrete floor coatings market is segmented into the following categories:

South African Concrete Floor Coatings Market, by Product Type

• Epoxy
• Polyaspartic
• Polyurethane
• Acrylic
• Others

South African Concrete Floor Coatings Market, by Application Type

• Indoor
• Outdoor

South African Concrete Floor Coatings Market, by Component Type

• One Component
• Two-Component
• Three-Component
• Four-Component

South African Concrete Floor Coatings Market, by End-User Type

• Residential
• Commercial
• Industrial

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, and strategic alliances.

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com