SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- The global concrete sealers market size is expected to reach USD 2.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.1% from 2021 to 2028. Rising investment in industrial infrastructure, growing need for modernization of aging infrastructure, and increase in the number of smart cities projects by governments is augmenting the growth of the market.
Key Insights & Findings from the report:
The acrylic concrete sealers segment is expected to witness a revenue-based CAGR of 6.9% from 2021 to 2028 on account of rising demand for these products is increasing due to low cost and high performance These are used on interior and exterior surfaces to form a protective film that provides good protection against water and chloride intrusion
The residential segment is expected to reach USD 793.9 million by 2028. Rising demand for housing in the middle-class population is expected to influence the demand for concrete sealers in the residential applications segment
In North America, the market accounted for USD 378.1 million in 2020, owing to heavy industrialization and high consumer acceptance of the product. However, VOC regulations are expected to restrain the market growth
Under National Infrastructure Pipeline (NIP), by 2025, India will invest USD 1.4 trillion in infrastructure. Increasing demand for the construction of healthcare facilities and hospitals are augmenting market growth
The growing construction industry in Middle East and Africa is projected to boost the demand for concrete sealers over the forecast period. The region's primary growth in the construction sector is fueled by the massive investments done by the government and the increased inflow of FDI
Read 80 page market research report, "Concrete Sealers Market Size, Share & Trends Analysis Report By Product (Penetrating, Acrylic, Polyurethane), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
The market is witnessing huge growth potential on account of high product demand in flooring applications as it offers superior properties along with enhanced aesthetics. Concrete sealers are anticipated to gain popularity owing to the growing construction projects in the residential, commercial, industrial, and transportation sectors.
The market growth is adversely impacted by the economic crisis caused by the Covid-19. Higher fiscal expenditure to sustain weaker segments of the population and lower revenues had increased the debt to GDP ratio of the governments, thereby limiting efforts for massive infrastructure investments.
The market is characterized by the presence of established players with a strong financial base, as a result, the entry barriers are high. However, a large number of small players are expected to enter the market owing to increasing product demand in the real estate sector.
Grand View Research has segmented the global concrete sealers market on the basis of product, application, and region:
Concrete Sealers Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Concrete Sealers Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
Concrete Sealers Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
List of Key Players of Concrete Sealers Market
Curecrete Distribution Inc.
PPG Industries, Inc.
Evonik Industries AG
Seal Source Inc.
Laticrete International, Inc.
Check out more studies on types of concrete, published by Grand View Research:
Ready-Mix Concrete Market – The global ready-mix concrete market size was estimated at USD 656.1 billion in 2019 and is expected to witness a revenue-based CAGR of 7.9% from 2020 to 2027. Increasing demand for speedy construction activities for residential, commercial, industrial, and infrastructure segment is expected to drive the market for ready-mix concrete (RMC).
Translucent Concrete Market – The global translucent concrete market size was valued at USD 1.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 47.6% from 2021 to 2028. Rapidly rising adoption of energy-saving and eco-friendly building materials, especially in the developed economies, is expected to bolster the market growth over the forecast period.
Precast Concrete Market – The global precast concrete market size was valued at USD 92.14 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. Growing investments in infrastructure development projects in the Asia Pacific region are expected to be the primary factors driving the product demand over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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