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

Report Overview

The global concrete sealers market size was estimated at USD 1.58 billion in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 7.1% from 2021 to 2028. Rising investments in civic infrastructure across developing economies and high product demand in flooring applications to improve aesthetics are expected to drive the market over the forecast period.

The ongoing COVID-19 outburst across the globe has significantly impacted the market as major economies across the globe suspended and delayed construction projects. Due to this, demand for concrete sealers has been reduced across various sectors such as residential and non-residential. However, with the ease of lockdown and global trade restrictions, the situation is expected to recover in 2021, which will restore the growth trajectory of the market.

An increase in stringent regulations for building safety coupled with rising demand for aesthetics in certain instances under diverse service conditions augmented market growth in the past decade. Moreover, factors such as a rise in disposable income and readiness to spend more on premium construction materials are expected to influence the market growth positively over the forecast period.

According to the Associated General Contractors of America (AGC), the U.S. construction industry has more than 733,000 employers and creates nearly USD1.4 trillion worth of structures each year. Low mortgage rates, strong demand for bigger living spaces, and a very low housing inventory in the market are the factors propelling the growth of the construction sector which in turn is expected to increase the demand for concrete sealers.

The non-residential sector is the most popular application of concrete sealers owing to the demand for high-strength leakproof buildings with premium aesthetics. In addition, the rising demand for office and other commercial spaces across the globe especially in the emerging economies is expected to bolster market growth.

The market is competitive in nature owing to a large set of players operating with offerings at a very competitive price. Their expertise and pricing, make it difficult for the new entrants to operate profitably in the market. As a result, the industry rivalry is expected to remain high over the forecast period. However, increasing environmental regulations regarding VOC emissions will hamper the growth of the concrete sealer companies on a global level throughout the forecast period.

Product Insights

The penetrating sealers segment dominated the market and accounted for the largest revenue share of 31.4% in 2020. Penetrating sealers retain a natural-looking finish whilst protecting the concrete surface from water, stains, and contaminants. These include silanes, siloxanes, silicates, and siliconates. These sealers penetrate and react chemically within the capillaries of the concrete to shield against moisture penetration and ingress of water-borne pollutants and salts. These are used in indoor and outdoor applications for concrete, porous natural stone, and concrete pavers.

The acrylic concrete sealers segment accounted for a revenue share of 22.4% in 2020. This type of sealer is used on both interior and exterior surfaces to form a thin, protective film that provides good protection against water and chloride intrusion while permitting moisture in the slab to escape. The demand for these products is increasing due to their low cost and high performance.

Polyurethane sealers form a high-build protective film on the concrete surface and provide a non-yellowing layer of protection for both interior and exterior applications. The market demand is growing due to increasing usage in flooring applications in high-traffic areas, to provide good resistance to scuffs and staining and to enhance the aesthetics of colored, stamped, or exposed-aggregate concrete. These products require more care when applied compared with other single-component sealers, such as acrylics.

Epoxy sealers are ideal for interior applications where durable and long-term surface protection is required. These sealers form a high-build protective film on the concrete surface. The demand for these products is expected to grow owing to the increasing use of cement-based overlays. concrete countertops, industrial floors, and basements. These products offer excellent water repellence, but some products are impermeable and could trap moisture in the concrete.

Application Insights

The non-residential segment led the market and accounted for a revenue share of about 73.2% in 2020. The growth can be attributed to the growing demand for commercial and industrial infrastructure across the globe coupled with an increasing demand for aesthetic flooring solutions. Moreover, several countries are upgrading economic performance by investing heavily in industrial infrastructure development, consequently impacting the segment expansion.

Rising urbanization across the globe especially in the emerging economies is leading to the growth of residential construction projects thus expected to bolster the demand for sealers in the residential application segment. In residential buildings, concrete sealers are used to protect surfaces from water damage caused by freeze/thaw cycles cracking, stains due to oil drips, dirt, mold, deicing salts, oil, and other contaminants, therefore increasing the life of the building.

Regional Insights

The Asia Pacific dominated the concrete sealers market and accounted for a revenue share of around 33.6% in 2020. The increasing number of infrastructure projects across the region due to the rapid economic growth in various countries such as China and India are strengthening the construction industry sector in the region, which in turn, will boost the concrete sealer market in the region. Moreover, the construction sector in the region is growing which can be attributed to the increasing population followed by rapid industrialization and urbanization.

Demand for concrete sealers in North America is driven by the rising construction investments and the swelling demand for multi-family and single-family housing. In addition, heavy industrialization, improved infrastructure, and high consumer acceptance of the product are some of the key factors driving the demand for concrete sealers in the region. However, regulations on the use of solvent-based sealers are expected to restrain the overall market growth in the region.

In Europe, the concrete sealers sector is expected to register steady growth over the forecast period due to the increasing renovation of residential and commercial infrastructure in some countries. Moreover, major companies, such as Evonik, and BASF, coupled with the increasing construction spending, are expected to support market growth. The U.K. is leading in terms of the number of residential construction projects, with significant support from the government along with increasing investments in such projects.

The Middle East And Africa’s primary growth in the construction sector is fueled by the massive investments done by the government and the increased inflow of FDI. Long-term economic growth in North Africa, Sub-Saharan Africa, and the Middle East, projected by the International Monetary Fund (IMF), is supporting the infrastructure and construction projects, including multinational corporate headquarters, landmark museums, hotels, and resorts.

Key Companies & Market Share Insights

Key industry participants spend heavily on product innovation and customized products to meet customer needs. To stay competitive in the global market, prominent players have been using a variety of business strategies such as capacity building, business expansion, collaborations, mergers and acquisitions, and application development. Key industry players are expected to maintain their position in the market by introducing innovative products, thereby expanding their product portfolio. The product launch with advanced features and customized product offerings is likely to strengthen the position of the industry players. Some of the prominent players in the global concrete sealers market include:

• Curecrete Distribution Inc.

• BASF SE

• PPG Industries, Inc.

• Evonik Industries AG

• Valspar Corporation

• Prosoco Corporation

• Seal Source Inc.

• Omnova Solutions

• Laticrete International, Inc.

• Sika AG

Concrete Sealers Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global concrete sealers market report on the basis of product, application, and region:

• Concrete Sealers Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Penetrating

  • Acrylic

  • Epoxy

  • Polyurethane

  • Others

• Concrete Sealers Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • Residential

  • Non-residential

• Concrete Sealers Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

    • UAE