In terms of revenue, the Global Parking Deck Coatings Market is expected to reach USD 342.6 Million by 2030, growing at a CAGR (Compound Annual Growth Rate) of 7.2% from 2022 to 2030.
The increased demand for parking facilities is expected to drive the growth of the Parking Deck Coatings market. Therefore, there is a growing demand for floor tiles in residential and commercial applications due to its advantages such as water, stain, odor, and bacteria resistance, as well as the continuous research and development of urethane products to expand the range of applications. They are also predicted to be the key drivers for Parking Coatings Market growth during the forecast period 2022 to 2032. In addition, the rapid growth of the construction industry and the increasing use of coatings in Commercial, Industrial, and Residential areas are expected. have a positive impact on the development of the parking coating market. The main reason for the development of the parking market is the increasing use of environmentally friendly and energy-saving products. The demand for coatings for parking lots is increasing because these coatings provide long-term protection and durability for parking structures. The shortage of parking spaces in cities and communities, caused by the increasing number of vehicles on the streets, increases the demand for parking spaces.
Key Highlights from the Report
• Based on Type, the global parking lot coatings market is segmented into Acrylic, Epoxy, Polyurethane, and Other Types. The Epoxy segment accounted for the largest revenue share in the global Parking Deck Coatings market in 2022.
• Based on End Use, the global Parking Deck Coatings market is segmented into Commercial, Residential, and Industrial. The commercial segment is expected to account for the largest revenue share of the global Parking Deck Coatings market during the forecast period. This is a growing number of commercial buildings, including office buildings, airports, shopping malls and others that require huge parking lots.
• In terms of Region, the North America market accounted for largest revenue share in the global Parking Deck Coatings market in 2022.
Parking Deck Coatings not only offer aesthetics and ease of cleaning, but also help protect concrete from carbonation and chloride attack. The primary purpose of these parking lot liners is to protect the integrity of the coated concrete surface and prevent water from penetrating to deeper levels. The demand for parking coatings is increasing due to the fact that these coatings provide long-term durability and protection of parking structures. The shortage of parking spaces in cities and communities, caused by the increasing number of vehicles on the streets, increases the demand for parking spaces. Also, growing demand for garages across the world is another factor driving the revenue growth of the market.
The park's current structures are deteriorating over time, which can result in structural damage, safety issues, and aesthetic losses. Garage owners spend money on maintenance and repairs to solve these problems, including using the sides of the parking lot as permanent weather protection. The increased demand for parking spaces is expected to drive the growth of the parking space market. Therefore, there is a growing demand for floor tiles in residential and commercial applications due to its advantages such as water, stain, odor and bacteria resistance, as well as the continuous research and development of urethane products to expand the range of applications. The main reason for the development of the parking market is the increasing use of environmentally friendly and energy-saving products. In addition, the rapid industrialization and government incentives to increase construction costs to expand and accelerate infrastructure development are expected to bring various growth opportunities in the parking soil market.
These are the key factors that must be considered to propel the growth of the global flooring market. However, the strict regulations on toxic solvents and the lack of awareness of the benefits of these coatings are likely to severely limit the growth rate of the parking coatings market in the projected period 2021-2028, while the restriction of epoxy resin could jeopardize the market growth. Parking market in the above forecast period.
The North America market accounted for the largest revenue share of the global parking flooring market in 2022. This is due to the rapid development of the construction industry in North America, especially in the United States. The demand for parking spaces is growing hand in hand with the growing demand for residential and commercial space. Parking platforms should be lined with modern materials to maintain the strength and durability of the structure. The Asia Pacific market is expected to account for a large share of the global parking liner market revenue during the forecast period. The European market is expected to witness rapid and steady revenue growth in the global parking coatings market during the forecast period. Additionally, increasing focus on infrastructure development, particularly in China and India, is expected to boost market revenues in the region. The use of sustainable materials and coatings is mandatory in most European countries and the construction industry is heavily controlled in this region.
The Global Parking Deck Coatings Market is Segmented as follows
- Methyl Methacrylate
- Other Types
- Other Technologies
- Heavy-Duty Parking Decks
- Pedestrian & Light-Wheeled Traffic Area
- Other Applications
- End Use
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Parking Deck Coatings Market is
Sika AG (Switzerland), Tremco Inc. (U.S.), BASE SE (Germany), MAPEI Inc (Italy), STONHARD (U.S.), Tennant Coatings (U.S.), Dur-A-Flex Inc. (U.S.), RPM International Inc. (U.S.), PPG Industries (U.S.), Jotun (Norway), Nippon Paint Holdings Co. Ltd. (Japan), The Sherwin-Williams Company (U.S.), Asian Paints (India), RPM International INC (U.S.), KANSAI Paint Co. Ltd. (Japan), Axapta Coating Systems Ltd. (U.S.), Solvay S.A. (Belgium), Shalimar Paints (India)
The Global Parking Deck Coatings Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis