Good golly, there are a lot of people commenting in this thread who don't seem to have a clue about how our legal system works but think they do anyway.
When a merchant sells you a product, there are implied warranties of merchantability and fitness for purpose. These warranties apply unless the merchant explicitly disclaims them. In some jurisdictions they cannot be disclaimed (i.e., the merchant is stuck with them whether he likes them or not). These warranties apply to the merchant who sells the product,
*not* to the manufacturer. If the product is sold in a chain of transactions (e.g., manufacturer to distributor, distributor to merchant, merchant to consumer), there are implied warranties at each link in the chain between the two parties to that particular transaction.
Merchantability applies here because the product failed when used as intended and in accordance with its published instructions.
Fitness for purpose applies here because the product's instructions claimed that it would perform adequately and it did not, and because the purchaser asked the merchant specifically if it would perform as desired and was told by a representative of the merchant (i.e., the Lowe's associate) that it would.
The OP does not have a contract with the manufacturer of the product, because he did not buy the product from the manufacturer. The OP has a contract with Lowe's, because he bought the product from Lowe's, and therefore the implied warranties at the OP's disposal for recouping damages for his loss are with Lowe's not with the manufacturer.
If, indeed, the manufacturer of the product was negligent in selling a product which they claimed would be safe for concrete when used in certain conditions and which was not in fact safe for concrete when used in those conditions, then the OP could have a claim against the manufacturer for negligence, independent of the implied warranties between Lowe's and the OP.
In short, if the facts are as presented by the OP (i.e., his concrete was old enough and sealed properly, the product said it was safe to use on concrete that was old enough and sealed properly, and yet the concrete flaked when the product was used on it), then he can certainly sue Lowe's for damages based on the implied warranties of merchantability and fitness for purpose, and he can also, should he wish to do so, sue the manufacturer for negligence.
It appears from the information provided by the OP that Lowe's has its own contract with the manufacturer which allows Lowe's to force the manufacturer to cover any claims for damages arising from its products sold by Lowe's. That's all well and good for Lowe's, but it has nothing to do with the OP, who is not a party to that contract. It is not the OP's concern whether Lowe's can or does successfully collect reimbursement from the manufacturer for whatever damages Lowe's pays out to the OP, and the contact between Lowe's and the manufacturer cannot be used as the basis of a lawsuit initiated by the OP against either Lowe's or the manufacturer. Frankly, I'm not sure why Lowe's showed it to the OP; it just muddied the waters.
See
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for more information about implied warranties.