Parking Deck Coatings Market

Global Parking Deck Coatings Market

As stated in our extensive report; the Global Parking Deck Coatings Market accounted for USD 210.6 Million in the year 2022 and is forecast to reach USD 342.6 Million by 2030 at a CAGR of 7.2%.

The increased demand for parking structures 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 expected to be key drivers of parking lot coatings market growth during the forecast period 2021 to 2028. Furthermore, the rapid growth in the construction sector and the increasing use of coatings in Commercial, Industrial, and Residential applications are also expected to positively impact the growth of the parking surface coatings market. The main reason for the development of the parking floor market is the increasing use of environmentally friendly and energy-saving products.

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The demand for coatings for parking lots is increasing due to the fact that these coatings provide parking structures with long-term protection and durability. The shortage of parking spaces in cities and municipalities due to 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. Additionally, the growing awareness of the need to maintain and repair obsolete parking structures is expected to drive revenue growth in the market. Current Park structures degrade over time, which can lead to structural damage, safety issues, and loss of aesthetics. Parking garage owners spend money on maintenance and repairs to solve these problems, which includes using parking lot sides as permanent weather protection.

These are the primary factors that must be considered to propel the growth of the global Parking Deck Coatings market. However, the strict regulations on toxic solvents and the lack of awareness about the benefits of these coatings are likely to severely limit the growth rate of parking coatings market during the forecast period 2021-2028, while the restriction of epoxy might jeopardize the market growth. Parking Deck Market during the above forecast period.

Key factors influencing Parking Deck Coatings Market Growth

The growth of the global Parking Deck Coatings market can be attributable to the following:

1. Parking Deck Coatings not only offer aesthetics and easy cleaning, but also help protect the 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.
2. The demand for coatings for parking lots is increasing due to the fact that these coatings provide parking structures with long-term durability and protection.
3. 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.
4. The park’s current structures are deteriorating over time, which can result in structural damage, safety issues, and aesthetic loss. Garage owners spend money on maintenance and repairs to fix these problems, including using the sides of the parking lot as permanent weather protection.
5. The increased demand for parking facilities is expected to drive the growth of the parking 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.
6. The main reason for the development of the parking market is the increasing use of environmentally friendly and energy-saving products.
7. Furthermore, the rapid industrialization and the encouragement of the governments of various countries to increase construction spending to expand and accelerate infrastructure development are expected to provide a variety of growth opportunities for the parking coatings market.

North America Region Forecast to Lead the Global Market in the Estimated 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 increasing in parallel with the growing demand for residential and commercial space. Parking platforms must 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 experience rapid and continuous revenue growth in the global parking coatings market during the forecast period. In addition, increasing emphasis on infrastructure development, particularly in China and India, is expected to boost market revenues in the region.

Conclusion

The rising adoption of cloud computing and government efforts are positively influencing the overall Parking Deck Coatings market.

Notable and prominent players in the Global Parking Deck Coatings Market include- 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.) and others.