The Concrete Surface Treatment Chemicals Market is set to grow from its current market value of more than $8 billion to over $15 billion by 2025; as reported in the latest study 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 18.4% share, followed by India accounting for 17.7%. 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 chemical 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% 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.
Concrete Surface Treatment Chemicals Market
Industrial sector is an important end-user segment in the concrete surface treatment chemicals market which will hold a share of more than 25% 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 towards 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 9% to the regional GDP. Hence, developments in this sector would positively impact the market in the forecast period.
Europe Concrete Surface Treatment Chemicals Market Size, By End-user, 2014 – 2025 (USD Billion)
Some participants of concrete surface treatment chemicals market include DowDupont, BASF SE, Lion Specialty Chemicals, AkzoNobel Chemicals, Henkel Corporation, 3M Company, Sika Ag, etc. These players are expanding their production capabilities and are actively involved in investing in innovation to tackle environmental limitations and meet the changing demand from their customers.
For more information, please visit https://www.gminsights.com/industry-analysis/concrete-surface-treatment-chemicals-market