Concrete Surface Treatment Chemicals Market Analysis

Concrete Surface Treatment Chemicals Market Analysis

The concrete surface treatment chemicals market is categorized, based on product, as curing compounds, mold release agents, sealants and others. Mold release agents occupies the largest market share in the global industry and is likely to grow by a CAGR of more than 7% over the forecast timeframe. Mold release agents help in avoiding the adhesion of freshly placed cement to a forming surface.

Water-based mold release agents would gain greater importance in the coming years due to its environmental benefits. Other functions of mold release agents include minimizing the occurrence of blowholes, providing a better surface finish along with minimum loss of water from the cement.

Sealants held a considerable share in the market in 2018. The product is majorly used in the residential and commercial end-user industries to seal cracks in floors and walls and for protection against water, moisture and dust. Developments in the global construction industry coupled with growing population in the developing regions will drive the concrete surface treatment chemicals market segment’s growth in coming years.

Based on end-user, the market is segmented into residential, commercial, industrial and municipal. Commercial is the largest end-user section which is likely to gain by more than 6% CAGR during the forecast timeframe. Extensive usage of the product by the commercial end-users like office buildings, retail outlets, garages, hospitals, institutions, etc. for repairing and maintaining the quality of the concrete will drive the concrete surface treatment chemicals market growth.

Municipal end-user category held a share of approximately 20% of the overall concrete surface treatment chemicals market in 2018. Curing compounds are significantly used in this end-user market to provide water retention to the surface exposed to sunlight. Municipal includes bridges, road construction and other civil structures. This segment is likely to grow at a CAGR of about 6% in the coming years. Progress in the emerging construction market will expand this segment’s growth during the forecast period.
 

The worldwide concrete surface treatment chemicals market was dominated by the Asia Pacific region, which accounted for more than half of the market share in 2018. High production capacity and rising demand from regions like China, India, Japan, and South Korea has resulted in the region’s dominant position in the market.
 

The product is extensively used in construction industry which has been booming in the emerging economies in the past years. Rising population, economic growth and improving government expenditure on infrastructural developments are some of the factors for the high CAGR growth in the region.
 

Another region occupying significant share in the market is North America. Even though the construction business in the region is nearly mature, presence of large number of product manufacturers in the region has helped the company to maintain its position. As the product is used for repair and replenishment, its demand would increase in the forecast timeframe. The region is likely to exhibit a CAGR of more than 6% in the study period.