Yahoo Finance Concrete Sealer Market worth $ 3.20 Billion by 2031: Coherent Market Insights, Inc
The global concrete sealer market size is calculated at USD 2.06 billion in 2024 and is expected to be worth around USD 3.20 billion by 2031, growing at a CAGR of 6.5% between 2024 and 2031.
Burlingame, June 05, 2024 (GLOBE NEWSWIRE) -- The global concrete sealer market is projected to grow from USD 2.06 billion in 2024 to an estimated USD 3.20 billion by 2031, exhibiting a robust compound annual growth rate (CAGR) of 6.5%, as per a recent study by Coherent Market Insights, Inc. The concrete sealer market is expected to witness significant growth over the forecast period owing to rising infrastructure development activities and increasing construction of residential and commercial buildings around the world.
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Market Dynamics:
The concrete sealer market is driven by rising construction activities across both commercial and residential sectors. According to the global construction 2030 report, the global construction output is expected to grow by 85% to USD 15.5 trillion by 2030. Also, increasing penetration of e-commerce and logistics sectors is driving the demand for warehouses and cold storage facilities which utilize large amounts of concrete structures which require sealing for protection. Furthermore, growing awareness regarding preserving the aesthetics and protecting concrete surfaces from corrosion, dust, and chemicals is propelling the concrete sealer market growth.
Global Concrete Sealer Market Report Coverage
Report Coverage | Details |
Market Revenue in 2024 | $2.06 billion |
Estimated Value by 2031 | $3.20 billion |
Growth Rate | Poised to grow at a CAGR of 6.5% |
Historical Data | 2019–2023 |
Forecast Period | 2024–2031 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, By Application |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Growth Drivers | • Rising construction activities |
Restraints & Challenges | • Strict environmental regulations & competition in the market |
Market Trends:
With growing environmental concerns, there is increased demand for bio-based and sustainable concrete sealers. These eco-friendly sealers provides similar protective features as traditional sealers and are plant/mineral based thus reducing volatile organic compound (VOC) emissions.
Solvent-based sealers are gaining increased acceptance compared to water-based sealers due to better penetration and adhesion to concrete surfaces. They are also cheaper than water-based sealers and have shorter drying times. This trend is expected to continue over the forecast period.
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Key Opportunities:
The growing construction industry worldwide is expected to drive the demand for concrete sealers during the forecast period. Concrete sealers are widely used in residential and commercial construction for protecting and beautifying concrete surfaces such as floors, driveways, countertops etc. With rising urbanization and increasing investments in infrastructure development, the construction of buildings, roads and other structures is witnessing strong growth. This will subsequently increase the consumption of concrete and boost the concrete sealer market.
The repair and renovation of existing infrastructure is another major opportunity for the concrete sealer market. Concrete surfaces degrade over time due to wear and tear from weathering, environmental pollution, etc. This leads to issues like cracks, staining and loss of shine. Concrete sealing helps restore the aesthetic appeal and integrity of damaged concrete. With the aging of developed nations' building stocks and infrastructure, repair and renovation activities are growing. This presents an incremental demand for concrete sealers above new construction.
Key Market Takeaways:
The global concrete sealer market is anticipated to witness a CAGR of 6.5% during the forecast period 2024-2030, owing to the rising construction of buildings and infrastructure worldwide.
On the basis of product, polyurethane segment is expected to hold a dominant position over 35% market share by 2030, owing to its superior chemical and mechanical properties.
On the basis of application, the residential segment accounted for over 50% of global concrete sealer consumption in 2024. This was due to high usage of concrete sealers in applications such as garage flooring, driveways and pool decks in residential projects.
By region, North America is expected to hold a dominant position over 40% of the global concrete sealer market during the forecast period. This is attributed to the large and well-established construction industry in the US and Canada.
Key players operating in the concrete sealer market include BASF SE, Seal Source Inc., Curecrete Distribution Inc., Prosoco, W. R. MEADOWS, Inc., AmeriPolish, LYTHIC, Larsen Products, KRETEK Industries Inc. and Kimbol Sealer. These players are focused on new product development and capacity expansion to strengthen their position.
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Market Segmentation
By Type:
Pertaining Sealers
Acrylic
Epoxy
Others (Polyurethane, etc.)
By Application:
Residential
Non-residential
By Regional:
North America:
U.S.
Canada
Latin America:
Brazil
Argentina
Mexico
Rest of Latin America
Europe:
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East:
GCC Countries
Israel
Rest of Middle East
Africa:
South Africa
North Africa
Central Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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