Pune, India, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The global concrete sealer market was estimated to value USD 1.6 billion in 2021 and is projected to grow at a CAGR of 6.10% during the forecast period 2021 to 2030. As per the recent study report published by Quince Market Insights.
Concrete sealers are a type of material, which is mainly used to defend the overall surface of the concrete. Concrete sealers are a group of sealers applied to concrete for protection against staining, corrosion, and surface damage.
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Concrete sealer offers visual enhancement, better efficiency, and surface protection. It is mainly applied on top of the surface. It can be applied to damp or dry surfaces to match the substrate porosity to efficiently enter the surface and react. Additionally, these concrete sealers work mostly in two methods, by creating a fence or by obstructive concrete pores.
Concrete sealers are produced with the help of numerous chemical mixtures and polyurethane, acrylic, and epoxy are some of the commonly used binders. The market for concrete sealers is foreseen to observe healthy growth with the initiation of new inventions catering to varied requirements of end users.
Additionally, the bio-based concrete sealer market is also gaining significant grounds and being highlighted by major manufacturers of the concrete sealer market to tap into new client segments.
Concrete sealers find an extensive range of applications across numerous sectors comprising commercial, residential, industrial, and others, such as municipal constructions, and institutional led by their excellent properties, i.e., UV stability, abrasion resistance, longevity, etc. These sealers are mostly used in hardeners and densifiers, oil and stain repellents, curing agents, and others. Ongoing construction activities worldwide along with the surging demand for aesthetically appealing flooring systems are poised to create vast revenue gains in the years to come.
High demand for products in flooring applications on account of improved physical appearance will drive the market growth.
Furthermore, the rising demand for aesthetic flooring market necessities in garages, driveways, sidewalks, parking lots, and courtyards worldwide is expected to propel the market expansion in the years to come.
On the other hand, strict government regulations and volatile organic compounds (VOC) laws changes will restrict the development of the market during the forecast period. Additionally, the construction schemes must follow a balance between quality and price. A small alteration in either price or quality can adversely impact the global market for concrete sealers.
By Product
The major five types of products in the market include penetrating, acrylic, epoxy, film-forming, and polyurethane. Additionally, the penetrating segment is further sub-segmented into silicate, siliconate, silane, and siloxane.
Among all products, the polyurethane segment is the fastest growing segment during the forecast period. These polyurethane concrete sealers act as a high-build film on the concrete and offer excellent resistance against chemicals and abrasion, and thus will drive the growth of polyurethane market.
These sealers are mainly used in interior and exterior concretes and impart a highly active finish. These polyurethane sealants do not permit vapor to leak from the concrete, which may act as a fence in the sector development. All these factors are expected to contribute to segment growth during the forecast period.
By Application
There are three major types in the application of concrete sealer market include residential, commercial, and industrial. The industrial segment is expected to be the fastest growing segment during the forecast period owing to increasing industrial sector in emerging regions. In addition, in emerging economies, governments are improving their country’s economic performance by capitalizing heavily on industrial infrastructure development, thus augmenting the segment growth.
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By Region
North America, Europe, Asia Pacific, Middle East, and Africa, and South America are the major regions in the concrete sealer market. North America is expected to be the fastest growing segment during the forecast period on account of presence of various small and large-scale companies. Additionally, high revenue gains since the revival of the U.S. construction industry from recessionary circumstances are expected to contribute to segment growth. Enhanced infrastructure, heavy industrialization high consumer spending, and consumer acceptance in the region will propel the regional market growth.
Furthermore, the growing need for repair and restoration of aging buildings is further driving the necessity for concrete sealers in the region. On the other hand, strict regulations on the use of solvent-based sealers in the region are expected to act as a key factor limiting the market growth.
COVID-19 Impact on the Global Concrete Sealer Market
The COVID-19 pandemic has impacted the global concrete sealer market with the suspension of irregular capitalization flows and halt in construction along with the disruption in supply chains. Across the globe, governments of several countries have accepted numerous measures such as limited workforce, closure of manufacturing plants, lockdowns, etc., to limit the spread of COVID-19.
These measures have resulted in a temporary lockdown in the constant construction actions and a stop in new project capitalization. These factors will further interrupt the normal working of the construction segment worldwide, in turn, acting as a key limitation in the overall market development.
Some Major Findings of the Global Concrete Sealer Market Report Include:
- An in-depth global concrete sealer market analysis by the segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global concrete sealer market, which include Evonik (Germany), BASF (Germany), AmeriPolish (U.S.), Prosoco (U.S.), SealSource (USA), Larsen (Mumbai), LATICRETE International (USA), W. R. MEADOWS (USA), LYTHIC (U.S.), Stone Technologies (USA), KreteTek Industries (U.S.), Kimbol Sealer (Canada)
- Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global concrete sealer market
- Impact of COVID-19 on the global concrete sealer market.
Browse key industry insights from the report, “Global Concrete Sealer Market, by Product (Penetrating {Silicate, Siliconate, Silane, Siloxane}, Acrylic, Epoxy, Film-forming, Polyurethane), Application (Residential, Commercial, Industrial), Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)”, in-depth analysis along with the table of contents (ToC).
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