PUBLISHER: The Business Research Company | PRODUCT CODE: 1392570
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392570
“Concrete Sealer Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on concrete sealer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for concrete sealer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The concrete sealer market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Concrete sealers are low-viscosity liquids that are applied on the surface of hardened concrete to stop deicing agents, carbon dioxide, acids, water, and other substances from penetrating the concrete. They work by either blocking the pores in the concrete to reduce the absorption of water and salt or by forming an impermeable layer that prevents water and salt from passing.
The main types of products of concrete sealers are silicate sealers, silane siloxane sealers, acrylic sealers, epoxy sealers, and others. Silicate sealers are better known as concrete densifiers. Silicate sealers help to reduce dust by increasing the surface strength of the concrete. These products function in different ways, such as topical and penetrating. These products are used in residential, commercial, and industrial applications.
The concrete sealer research report is one of a series of new reports from The Business Research Company that provides concrete sealer market statistics, including concrete sealer market industry global market size, regional shares, competitors with market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the concrete sealer market industry. This concrete sealer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The concrete sealer market size has grown strongly in recent years. It will grow from $1. 2 billion in 2023 to $1. 29 billion in 2024 at a compound annual growth rate (CAGR) of 7. 0%. The growth in the historic period can be attributed to growth of industrial sectors, increased construction activities, infrastructure development, rising awareness about the benefits of concrete protection, stringent regulations regarding environmental protection.
The concrete sealer market size is expected to see strong growth in the next few years. It will grow to $1. 66 billion in 2028 at a compound annual growth rate (CAGR) of 6. 5%. The growth in the forecast period can be attributed to increase in the number of smart cities projects by governments, high product demand in flooring applications, growing demand for aesthetic flooring requirements, urbanization and redevelopment. Major trends in the forecast period include nano-sealers, stain-resistant sealers, product launch with advanced features and customized product offerings, customization with color sealers, digitalization in maintenance, polished concrete finishes.
Growing construction spending in emerging economies is expected to propel the growth of the concrete sealer market. Evidence is present to prove the existence of a positive relationship between economic growth and the level of construction activities in developing countries. Based on a study of United Nations time series data, comparisons are made for three groups of countries, classified according to the World Bank, in order to investigate the relationship between rapid economic growth and construction activity in growing economies. It has proved that emerging economies appear to be catching up to the built asset wealth of more developed economies. For instance, in October 2023, according to the US Census Bureau, a US-based main entity in the United States Federal Data System in charge of producing economic and population information, construction spending in August 2023 is predicted to exceed $1,983. 5 billion, up 7. 4 percent (1. 8 percent) from $1,847. 3 billion in August 2022. Therefore, the growing construction spending in emerging economies is driving the growth of the concrete sealer market.
The increasing infrastructure development is expected to propel the growth of the concrete sealer market in the coming years. Infrastructure refers to the fundamental physical structures and facilities that service a nation, municipality, or region, such as transit, power plants, and schools. It is the basis upon which an economy's structure is built. Concrete sealers are essential in the preservation, protection, and maintenance of numerous infrastructure elements, assuring their durability and prolonging their service life as they protect essential structures from different environmental and usage-related hazards, hence contributing to infrastructure sustainability and lifespan. For instance, in 2022, according to USAFACTS, a US-based non-profit, nonpartisan civic organization dedicated to making government data available and clear to all Americans, the national government spent $36. 6 billion primarily on infrastructure and transferred $94. 5 billion to provinces. Therefore, increasing infrastructure development is driving the concrete sealer market.
The development of technologically advanced concrete sealers are key trends gaining popularity in the concrete sealer market. Technological advancement is the discovery of knowledge that contributes to growth. For instance, in January 2022, W. R. Meadows Inc., a US-based manufacturing company of construction materials, launched PENTREAT 244-40 W/B and PENTREAT 244-20 W/B. The products include water-resistant sealers, PENTREAT 244-40 W/B with 40% silane content and PENTREAT 244-20 W/B with 20% silane content, that are appreciated for preventing chloride-induced rebar corrosion, scaling, spalling, and freeze-thaw damage. The features of the products are superior water-resistant sealants with high performance and permeable, penetrating properties. Protects concrete and masonry surfaces by reducing water and salt penetration. Reduces surface spalling on concrete. Increases the lifespan of concrete and masonry constructions. It penetrates the surface to provide optimal protection.
Major companies operating in the concrete sealer market are focusing on developing innovative products, such as polished concrete sealer, to better meet the needs of their existing consumers. Polished concrete sealer is a kind of sealer used to prevent stains and abrasion on polished concrete floors. It is a silicone-based, water-based, penetrating, fast-reacting, odorless, and environmentally friendly sealer designed to effectively seal several polished concrete surfaces. For instance, in January 2023, Coval Technologies, a Singapore-based manufacturing company of concrete sealer and industrial coatings, launched the Coval Polished Concrete Sealer. Coval Polished Concrete Sealer (PCS) preserves the original appeal of polished concrete while protecting it from stains, acids, and oils. It is made of a single component, is UV-stable, and is based on nanotechnology. It is simple to apply using an acetone sprayer and a microfiber mop, either straight on polished concrete or over an existing guard. It also safeguards against water and salt damage.
In August 2021, Sika AG, a Swiss multinational specialty chemical company, acquired Shenzhen Landun Holding Co. Ltd. for an undisclosed amount. The acquisition is expected to provide new growth opportunities in the fast-growing Chinese waterproofing concrete market. Shenzhen Landun Holding Co., Ltd. is a manufacturer of waterproofing systems in China. The company offers a comprehensive range of waterproofing products and technologies.
Major companies operating in the in the concrete sealer market report are Curecrete Distribution Inc., Prosoco Inc., Evonik Industries AG, BASF SE, SealSource Inc., AmeriPolish Inc., Monoflux Refra Lythic Private Limited, W. R. Meadows Inc., Larsen & Toubro Limited, KreteTek Industries Inc., Kimbol Sealer Ltd., Stone Technologies Ltd., Laticrete International Inc., Nutech Paint Pty Ltd., NewLook Ltd., Euclid Chemical Co., Henry Company, Dev's Chem Tec Private Limited, Mapei SPA, PPG Industries Inc., Omnova Solutions Inc., Sika AG, FiberTite Seaman Corporation, Xypex Chemical Corp., PPG Architectural Finishes Incorporated, Kelly-Moore Paints Co. Inc., Akzo Nobel N. V., Axalta Coating Systems LLC, Endura Manufacturing Company Ltd., Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., RPM International Inc., Arkema SA, Vexcon Chemicals Inc., Indcon Inc., Covertec Products LLC, MSC Industrial Supply Co., Key Resin Co., ChemMasters Inc.
North America was the largest region in the concrete sealer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the concrete sealer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the concrete sealer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The concrete sealer market consists of sales of topical sealers, penetrating sealers, acrylic, polyurethane, and epoxy. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.