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Changing urbanization trends, evolving infrastructure needs, and subsequent developments in the construction business are driving the expansion of concrete sealer industry. Concrete sealers, an indispensable element of modern construction, are experiencing massive demand for repair and maintenance purposes where they are used to help prevent the impact of corrosion.
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The industry is consistently witnessing new developments as concrete manufacturers make research and development investments a priority. The advent of advanced product varieties such as self-healing concrete has improved their performance in sealing applications.
The addition of waterproofing admixture into the concrete substrate has been a major innovation in the industry which helps impart self-sealing properties into the finished product. Compared to traditional waterproofing membranes, the technology offers higher flexibility and helps manufacturers save substantial amount of money.
Global Market Insights, Inc., predicts that the global concrete sealer market size could reach nearly US$2.4 billion annual valuation by the year 2027 as advances in technology gather pace and more such breakthroughs are achieved. BASF SE, PPG Industries, Evonik Industries, Arkema, Sika AG, Laticrete International, Valspar Corp., and Mapei Construction Products are a few prominent names in the industry at present.
Concrete sealers can be classified into penetrating, film-forming, epoxy, acrylic, and polyurethane types. Penetrating sealers are made of materials such as silicate, silane, siliconate, and siloxane. Silane and siloxane based concrete sealers may experience strong demand due to emerging applications in precast concrete structures such as bridge decks, parking structures, facades, and others.
Polyurethane concrete sealers captured over 17% revenue share in 2020 and their demand could increase at around 6.5% CAGR over the next few years. Different types of concrete sealers find application in industrial, commercial, and residential applications. Ongoing private and public sector investments in renovation of aging commercial infrastructure means that commercial applications could account for more than 27% of the market share by 2027.
Meanwhile, the residential sector will continue to provide Concrete Sealer Market manufacturers with lucrative opportunities as residential expansion projects gain momentum, especially in Asia Pacific countries. Speaking of Asia Pacific, the region dominated concrete sealer industry trends with over 53% revenue share and could grow at a CAGR of 6.8% through 2027, with numerous new upcoming construction projects in line.
Meanwhile in developed regions such as Europe, renovation and refurbishment activities could drive the product demand. The region is home to pioneers such as BASF and Evonik who are constantly working on new product development that offer improved sealing performance at lower cost.
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The market for concrete sealer market in Europe is estimated to grow at a CAGR of around 4.3% up to 2027.
The COVID-19 outbreak its widespread impact on economies will be a major challenge for manufacturers. A slowdown in infrastructure projects in many parts of the world has resulted in a weakened product demand.
Numerous countries are also experiencing shortage in raw material supply which may lead to reduced production output. In the U.S., for instance, plastic production was estimated to drop by nearly 10% during 2020 due to shutdown of major plastic production facilities. Many manufacturers, especially small and medium scale businesses who depend on the import of plastic resins from other countries, are likely to face substantial shortage in the near future.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Market definitions
1.2 Base estimation & working
1.2.1 North America
1.2.3 Asia Pacific (APAC)
1.2.4 Latin America (LATAM)
1.2.5 Middle East & Africa (MEA)
1.3 Forecast calculations
1.3.1 COVID-19 impact calculations on industry forecast
1.4 Data sources
Chapter 2 Concrete Sealer Market Summary
2.1 Concrete sealer market industry 360° synopsis, 2017-2027
2.1.1 Business trends
2.1.2 Product type trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Concrete Sealer Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2016 – 2026
3.2.1 COVID-19 impact on industry size
3.3 Industry ecosystem analysis
3.3.1 Profit margin analysis
3.3.2 Value addition at each stage
3.3.3 Distributor channel analysis
3.3.3.1 Value chain disruption analysis (COVID-19 impact)
3.4 Vendor matrix
3.4.1 List of key manufacturers/supplier
3.4.2 List of key/potential customers
3.4.3 List of key raw material suppliers
3.5 Raw material analysis
3.5.1 COVID-19 impact on raw material supply
3.6 Technology trends
3.7 Innovation & sustainability
3.7.1 Patent analysis
3.7.2 Technology landscape
3.7.3 Production process
3.7.4 Future trends
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.2 Industry pitfalls & challenges
3.9 Regulatory landscape
3.10 Growth potential analysis
3.11 Competitive landscape, 2020
3.11.1 Company market share, 2020
3.11.2 Brand analysis
3.11.3 Key stakeholders
3.11.4 Strategy dashboard
3.12 Porter’s analysis
3.12.1 Supplier power
3.12.2 Buyer power
3.12.3 Threat of new entrants
3.12.4 Threat of substitutes
3.12.5 Industry rivalry
3.13 Regional price trends
3.13.1 Cost structure analysis
3.13.1.1 R&D cost
3.13.1.2 Manufacturing & equipment cost
3.13.1.3 Raw material cost
3.13.1.4 Distribution cost
3.13.1.5 Operating cost
3.13.1.6 Miscellaneous cost
3.14 PESTEL analysis
3.15 COVID-19 impact on Concrete Sealer Market demand by application
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