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    Market Research

    GMI: Concrete Surface Treatment Chemicals Market Size Worth $15 Billion by 2025

    ...

    GMI: Concrete Surface Treatment Chemicals Market Size Worth $15 Billion by 2025
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    The concrete surface treatment chemicals market size will likely surpass USD $15 billion by 2025, according to a new research report by Global Market Insights, Inc.
     
    Escalating growth in the global population is likely to be a key growth driver in the concrete surface treatment chemicals market. Asia Pacific region is the major reason behind the increased rate of population growth. 

     
    The global population has risen from 6.1 billion in 2000 to 7.6 billion in 2018. Out of this, China holds an 18.4 percent share, followed by India accounting for 17.7 percent. Increasing population and rising urbanization are some factors driving the construction industry in the emerging nations. This, in turn, would boost the demand for various concrete surface treatment chemicals over the study period.
     
    Another growth enabler of concrete surface treatment chemicals market is the rising demand for construction chemicals. Construction chemicals help in improving the performance of the structures, are more economical, ease the installation procedures, augment the chemical and physical characteristics of the structures and make the structures more resistant to adverse weather conditions. These benefits will propel the market, especially in the developing regions.
     
    Curing compounds in the concrete surface treatment chemicals market are likely to gain at a growth rate of over 6.5 percent in the study period. The product is used for providing optimal curing when protection from the solar heat is desired. It is majorly used for applications on horizontal surfaces such as streets, highways, curb paving, airports, runways, etc. It is mostly applied through spraying procedure. After spraying, it forms a thin layer on the surface to block water loss and results in accurate curing of the surface.
     
     The industrial sector is an important end-user segment in the concrete surface treatment chemicals market which will hold a share of more than 25 percent of the total industry by the end of the study period. The products are used both during new construction and repair activities, and the product demand from this sector would substantially increase in the future. Industrial development in emerging markets is one of the major reasons behind the growth of this sector in the study period.
     
    Europe is one of the significant regions contributing to the growth of the concrete surface treatment chemicals market. Population in Europe has been increasing in recent years and has reached 742 million in 2018 from 727 million in 2000. Increasing immigrants, urbanization and improved living standards of people will increase the product demand in the construction market. Rising infrastructural projects and construction activities in this region will, in turn, boost the market. The construction industry of the region employs more than 18 million people and contributes approximately nine percent to the regional GDP. Hence, developments in this sector would positively impact the market in the forecast period.



    Developments in the Asia Pacific construction industry would be the major growth driver for the concrete surface treatment chemicals market. The global construction sector is expected to expand in the next decade to a nominal value of more than USD $6 trillion.  Asia Pacific held a significant share of this value and this share will grow in the coming years. This would in turn increase concrete surface treatment chemicals demand. Increasing urbanization, growing population in China & India, cheap workforce, expanding economic growth are some of the factor responsible for the growth in the Asia Pacific construction market.
     
    China plays a major role in the market. The country’s construction industry achieved 17 percent growth in market value in 2016. With both public and private investment in infrastructure rising in the country, China will continue to play a major role in the market in the future. Changing regulatory framework has also helped in driving the market. For instance, Smart City Mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) by the Indian government, relaxation of real estate regulations by China, etc. are some examples which would lead to increased construction activities in the region, in turn escalating concrete surface treatment chemicals demand in the forecast period. Limited use of certain products in developing regions due to the abundance of other resources and use of harmful raw materials in the product are some factors which could limit the growth industry in the coming years.
     
    The concrete surface treatment chemicals market is categorized, based on the product, as curing compounds, mold release agents, sealants and others. Mold release agents occupy the largest market share in the global industry and are likely to grow by a CAGR of more than seven percent in the forecast timeframe. Mold release agents help in avoiding the adhesion of freshly placed cement to a forming surface. Water-based mold release agents would gain greater importance in the coming years due to its environmental benefits. Other functions of mold release agents include minimizing the occurrence of blowholes, providing a better surface finish along with minimum loss of water from the cement.
     
    Sealants held a considerable share in the market in 2018. The product is majorly used in the residential and commercial end-user industries to seal cracks in floors and walls and for protection against water, moisture and dust. Developments in the global construction industry coupled with a growing population in the developing regions will drive this segment’s growth in the coming years.
     
    Based on end-user, the market is segmented into residential, commercial, industrial and municipal. The commercial is the largest end-user section which is likely to gain by more than six percent CAGR during the forecast timeframe. Extensive usage of the product by the commercial end-users like office buildings, retail outlets, garages, hospitals, institutions, etc. for repairing and maintaining the quality of the concrete will drive its growth.
     
    Municipal end-user category held a share of approximately 20 percent of the overall concrete surface treatment chemicals market in 2018. Curing compounds are significantly used in this end-user market to provide water retention to the surface exposed to sunlight. Municipal includes bridges, road construction and other civil structures. This segment is likely to grow at a CAGR of about six percent in the coming years. Progress in the emerging construction market will expand this segment’s growth during the forecast period.
     
    The worldwide concrete surface treatment chemicals market was dominated by the Asia Pacific region, which accounted for more than half of the market share in 2018. High production capacity and rising demand from regions like China, India, Japan, and South Korea has resulted in the region’s dominant position in the market. The product is extensively used in the construction industry which has been booming in the emerging economies in the past years. Rising population, economic growth and improving government expenditure on infrastructural developments are some of the factors for the high CAGR growth in the region.
     
     
    Another region occupying a significant share in the market is North America. Even though the construction market in the region is nearly mature, presence of a large number of product manufacturers in the region has helped the company to maintain its position. As the product is used for repair and replenishment, its demand would increase in the forecast timeframe. The region is likely to exhibit a CAGR of more than 6% in the study period.
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