Concrete Sealers Market size is set to surpass USD 2.4 billion by 2027, according to a new research report by Global Market Insights Inc.
Growing construction activities will boost the overall market growth
The key factor responsible for the growth of construction activities across the globe is increasing public & private sector investments to revamp infrastructure across various regions. The rising need to upgrade old infrastructure is further augmenting investments in the construction industry over the past few years. Such trends are positively affecting the market expansion during the forecast period. Moreover, increasing government investments for the development of the residential sector, mainly in the developing regions, will further contribute to the market progression. The increasing population, especially in Asia Pacific, has resulted in the surge in demand for multi-modal family housing requirements, which is projected to positively contribute to the overall industry growth in the coming years.
The ongoing COVID-19 pandemic has caused the shutdown of construction activities across the globe. However, the market is expected to grow in the future owing to the rising need for affordable housing in the region. The growing prominence of green buildings or energy-efficient buildings is slated to drive the need for water-based concrete sealers in the industry. Some of the key producers have started supplying water-based sealants for the concrete sector due to rising concerns over the usage of solvent-based products. Stringent government regulations will further increase the penetration of green waterproofing sealants in the market.
Flourishing infrastructural developments and setting of new industrial plants, especially in the developing regions, is anticipated to positively affect the overall market revenue. Water-based concrete sealers complying with environmental norms will assure that the demand for these products will grow in the future. The industry has shaped itself in accordance with the ongoing research and development activities. However, in developing regions, the market might face challenges led by limited product awareness and knowledge about the effective usage and compatibility of the products.
Browse key industry insights spread across 405 pages with 571 market data tables & 16 figures & charts from the report, “Concrete Sealers Market Size By Product (Penetrating [Silicate, Siliconate, Silane, Siloxane], Acrylic, Epoxy, Film-forming, Polyurethane), By Application (Residential, Commercial, Industrial) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The penetrating concrete sealers segment held the largest market share in 2020
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Penetrating sealers, such as siloxanes, silanes, siliconates, and silicates, penetrate the concrete to form a chemical barrier, protecting the concrete from deicing chemicals and moisture penetration. These concrete sealers provide excellent protection and possess enhanced properties, such as durability; hence, are widely used in commercial buildings. Penetrating concrete sealers held 27% of revenue share in 2020 and are estimated to observe 6.1% growth rate till 2027. Among the various penetrating sealers, Silane and Siloxane were the largest segments in 2020 with an industry share of over 40% and 41% respectively.
The other application segment accounted for more than 14% of market share in 2020. This segment includes municipal construction, institutional construction, and others. The municipal includes road construction and civil structures. The growing infrastructural development in emerging economies will substantially contribute to the segment growth.
Latin America market captured 9% of revenue share in 2020 and is predicted to grow at a CAGR of 5.7% through 2027. Growing investments in the regional construction sector, mainly in Brazil and Mexico, are anticipated to contribute to the overall market demand.
The Middle East concrete sealers market will account for over 13% of revenue share in 2027. The growing constructional spending in the region is expected to generate huge revenue gains during the forecast period.
Some of the prominent players in the market are Evonik Industries, Omnova Solutions, PPG Industries, Sika AG, Arkema, Laticrete International, Mapei Construction Products, Valspar Corp., Vexcon Chemicals, Inc., etc. Major companies are implementing various organic & inorganic growth strategies to ensure a larger industry share.