LONDON, May 10, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the concrete sealer market, growing construction spending in emerging economies is expected to propel the growth of the concrete sealer market. Evidence is present to prove the existence of a positive relationship between economic growth and the level of construction activities in developing countries. Based on a study of United Nations time series data, comparisons are made for three groups of countries, classified according to the World Bank, in order to investigate the relationship between rapid economic growth and construction activity in growing economies. It has proved that emerging economies appear to be catching up to the built asset wealth of more developed economies. For instance, the global construction market was valued at $10.7 trillion in 2020, and these emerging markets' contributions were valued at $5.7 trillion, according to Oxford Economics. Therefore, the growing construction spending in emerging economies is driving the growth of the concrete sealer market.
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The global concrete sealer market share is expected to grow from $1.07 billion in 2021 to $1.13 billion in 2022 at a compound annual growth rate (CAGR) of 5.66%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global concrete sealer industry growth is expected to reach $1.56 billion in 2026 at a CAGR of 8.34%.
The development of technologically advanced, premium and thin-layer polyurethane concrete sealers are key trends gaining popularity in the concrete sealer market. Technological advancement is the discovery of knowledge that contributes to growth. For instance, in 2020, Sika flooring and coating solutions contributed to the worldwide flooring construction material technology and developed "PU/PUA Hybrid", a new technology for carpark coatings, and also "Sikafloor 261", the first self-leveling floor upright application process.
Major players in the concrete sealer market are Curecrete Distribution (Ashford Formula and RetroPlate), Prosoco, Evonik, BASF, SealSource, AmeriPolish, LYTHIC, W. R. Meadows, Larsen, KreteTek Industries, Kimbol Sealer, Stone Technologies, Laticrete International, Nutech Paint, NewLook, Euclid Chemical, Henry Company, Chem Tec, Mapei, Nanofront, Suzhou Jinrun, Guangzhou Ontop Building Material, PPG Industries, Valspar Corporation, Omnova Solutions, Sika AG, FiberTite, Seaman Corporation, Xypex Chemical Corp., PPG Architectural Finishes, Incorporated-PPG Paints, and Kelly-Moore Paints.
The global concrete sealer market analysis is segmented by function into topical, penetrating; by product into silicate sealers, silane siloxane sealers, acrylics sealers, epoxy sealers, other; by application into residential, commercial, industrial.
North America was the largest region in the concrete sealer market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global concrete sealers market during the forecast period. The regions covered in the global concrete sealer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Concrete Sealer Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide concrete sealer market overviews, concrete sealer market analyze and forecast market size and growth for the whole market, concrete sealer market segments and geographies, concrete sealer market trends, concrete sealer market drivers, concrete sealer market restraints, concrete sealer market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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