Concrete Sealers Market Upcoming Peaks Market Size's Projection to Reach New Heights

Allied Market Research recently released a comprehensive report, "Global Concrete Sealers Market by Type (Pertaining Sealers, Acrylics, Polyurethane, Epoxies, and Others), Application (Building and Construction, Industrial, Commercial, and Others), And Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031." The report provides an in-depth analysis of the concrete sealers market, its drivers, challenges, and opportunities.

The global concrete sealers market reached a value of $1.7 billion in 2021 and is expected to grow to $3.1 billion by 2031, representing a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period from 2022 to 2031.

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Key Drivers of Market Growth:

Increasing demand for building and construction activities, including the emergence of DIY projects, is driving growth in the global concrete sealers market.
Strong economic growth has increased the demand for concrete sealers, which are used as protective coatings in various industries such as washers, driers, steel pipes, fittings, structural inserts, and industrial equipment.
However, raw material shortages have led to increased concrete sealer prices, which may hinder market growth.
Nonetheless, the rise in investments by major key players is expected to create lucrative opportunities in the industry.
COVID-19 Impact:

The COVID-19 pandemic has negatively impacted the concrete sealers industry due to volatile raw material prices, which has reduced market demand. However, the market is recovering due to increased demand from the building and construction, industrial, automotive, and commercial sectors. The focus on global economic recovery has also supported the market's growth in 2021.

Pertaining Sealers Segment Dominance:

In 2021, the pertaining sealers segment accounted for the highest market share, contributing to over one-third of the global concrete sealers market revenue. The segment is projected to maintain its leadership status throughout the forecast period. Increased demand for transportation has spurred the need for protective coatings on driveways, where pertaining concrete sealers are widely used.

Acrylics Segment CAGR:

The acrylics segment is projected to manifest the highest CAGR of 7.0% from 2022 to 2031. Factors such as increasing disposable income, technological upgrades, and a rise in the number of Original Equipment Manufacturers (OEMs) have contributed to significant growth in the automotive & transportation sector, where acrylic concrete sealers are used for corrosion resistance purposes.

Commercial Application Segment Lead:

In 2021, the commercial application segment contributed nearly two-fifths of the global concrete sealers market revenue. This segment is estimated to maintain its leadership status throughout the forecast period, with a projected highest CAGR of 6.7% from 2022 to 2031. The expansion of the commercial industry, the increase in the working population, government schemes, and high potential investment in developing commercial buildings globally have driven the growth of the concrete sealers market.

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Asia-Pacific Regional Dominance:

In 2021, Asia-Pacific accounted for the highest market share in terms of revenue, and it is expected to maintain its leadership status throughout the forecast period. The region is expected to witness the fastest CAGR of 7.1% from 2022 to 2031, driven by growth in the building & construction, transportation, chemical manufacturing, and other sectors, which have enhanced the performance of concrete sealers in the Asia-Pacific region.

Leading Market Players:

The report highlights key players in the global concrete sealers market, including BASF SE, Sika AG, PPG Industries, Laticrete International, Inc., Royal Associates, Valspar, Prosoco Corporation, Mapei Corporation, W. R. Meadows, Inc., and XETEX INDUSTRIES PRIVATE LIMITED INDIA. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, etc., to increase their market share and maintain dominance in different regions.

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