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The concrete surface treatment chemicals market is estimated to grow at a CAGR of 8.55% between 2022 and 2027. The size of the market is forecast to increase by USD 4,576.1 million. The growth of the market depends on several factors, including increasing urbanization and rising disposable income, an increase in demand for construction chemicals, and rising demand for concrete curing compounds.
This report extensively covers market segmentation by application (non-residential and residential), product (mold release agents, curing compounds, and sealants), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global concrete surface treatment chemicals market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rising demand for concrete curing compounds is notably driving the market growth, although factors such as regulations on VOC used for manufacturing mold release agents may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Concrete Surface Treatment Chemicals Market Driver
The rising demand for concrete curing compounds is notably driving market growth. Concrete curing compounds are concrete surface treatment chemicals that help retain the moisture content in concrete. These curing compounds improve the strength of concrete. Concrete curing compounds are preferred in concrete structures because of their properties, such as water retention, high reflectance, short drying period, long-term setting, and the presence of non-volatile matter. These compounds are used to construct bridges, concrete pavements, runways, dams, and canal linings.
Moisture-curing adhesives are a type of concrete curing compound. They are chemical compounds that are used to absorb moisture in the concrete. The rising demand for moisture-curing adhesives will drive the demand for concrete-curing compounds during the forecast period, which will have a positive impact on the market during the forecast period.
Significant Concrete Surface Treatment Chemicals Market Trend
A diversified product portfolio and strategic positioning of R&D centers are the primary trend in the market. Since most vendors in the market have diversified product portfolios, customers can easily choose products. BASF offers a diverse portfolio of concrete surface treatment chemicals, which includes products such as concrete curing compounds, concrete release agents, surface retardants, and dry-shakes and floor toppings. Chembond Chemicals has a diversified portfolio and offers products such as curing agents and water-repellant coatings in the surface treatment chemicals category.
The above-mentioned products are developed in the research and development centers of companies at different locations. Major chemical companies in Europe and North America have their R&D centers in APAC, owing to low labor costs and the availability of low-cost infrastructure in China, South Korea, and India. The region is home to the global headquarters of BASF's Advanced Materials and Systems Research Technology Platform, one of the major R&D centers of the company. Companies reduce their R&D cost and increase profits by setting up R&D centers in this region. Thus, the above-mentioned factors will boost the growth of the market during the forecast period.
Major Concrete Surface Treatment Chemicals Market Challenge
Regulations on VOC used for manufacturing mold release agents is the major challenge impeding market growth. The use of solvent-based mold release agents in concrete increases VOC emissions by many end-user industries, such as the construction, automotive, and packaging industries. Exposure to heavy VOC emissions can cause eye, nose, and ear irritation, liver damage, and cancer in humans. Risks associated with VOC emission depend on the volume of particles present in the air, the duration of their presence, and how often a person breathes in such conditions.
Several studies have suggested that exposure to VOCs may result in health-related problems in people with asthma or individuals sensitive to chemicals. The use of mold-release agents in concrete leads to the release of high volumes of VOCs into the atmosphere. VOC emissions via solvent-based mold release agents exceeded 1,20,000 tons in 2020. With the high consumption of solvent-based mold release agents, the release of VOCs is expected to rise. Therefore, regulations on VOC in mold release agents will have a negative impact on the growth of the market during the forecast period.
Key Concrete Surface Treatment Chemicals Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Concrete Surface Treatment Chemicals Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Teknos Group Oy - The company offers concrete surface treatment chemicals such as Sikagard PU UR, Inertol Poxitar, Sikagard 62. Under this segment, the company offers a wide range of paints and coatings for the manufacturing industry, building professionals, and consumers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the non-residential segment will be significant during the forecast period. Concrete surface treatment chemicals, such as mold release agents, concrete curing compounds, and etching solutions, are widely used in non-residential construction applications across the world. Projects such as the expansion of the Mohe airport in Mohe in northeast China's Heilongjiang Province and the Indian government's goal of developing 220 new airports by 2025 will require large volumes of concrete surface treatment chemicals. Thus, the demand for construction chemicals will increase significantly, which will fuel the demand for concrete surface treatment chemicals in the non-residential segment.
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The non-residential segment was valued at USD 5,163.66 million in 2017 and continued to grow until 2021. In China and India, increasing infrastructure developments will drive the demand for concrete surface treatment chemicals during the forecast period. The rising demand for concrete surface treatment chemicals due to the expansion of non-residential projects worldwide will foster the growth of the market in focus on the non-residential segment during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC was the largest geographical segment of the global concrete surface treatment chemicals market in 2022 and will continue to remain the largest segment during the forecast period. Increased construction activities across APAC will drive the demand for concrete treatment chemicals during the forecast period. India and China, among other countries, are the major revenue contributors to the construction market in the region.
China accounts for a significant market share in the global construction industry. In this country, numerous construction projects are likely to be completed during the forecast period, which will drive the demand for concrete surface treatment chemicals. New airports that began operation in 2021 comprised Jingzhou Shashi Airport, Jiujiang Lushan Airport, Heze Mudan Airport, Wuhu Xuanzhou Airport, Chengdu Tianfu International Airport, Chenzhou Beihu Airport and Shaoguan Danxia Airport, which are expected to complete during the forecast period. Thus, the increasing number of construction projects in the country will drive the demand for concrete surface treatment chemicals during the forecast period.
The outbreak of the COVID-19 pandemic affected the growth of the market in APAC. However, the resumption of supply chain operations and the recommencement of construction activities in the region revived the demand for concrete surface treatment chemicals.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Concrete Surface Treatment Chemicals Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.55% |
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Market growth 2023-2027 |
USD 4,576.1 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.18 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 47% |
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Key countries |
US, Saudi Arabia, China, India, and Brazil |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Akzo Nobel NV, Altrad Group, Arkema SA, BASF SE, BECO TREAT ApS, BRENNTAG SE, Chembond Chemicals Ltd., ChemCo Systems Inc., Croda International Plc, Flowcrete Group Ltd., Fosroc International Ltd., Henkel AG and Co. KGaA, LATICRETE International Inc., Lion Specialty Chemicals Co. Ltd., Sika AG, Teknos Group Oy, Dow Inc., The Euclid Chemical Co., and Wacker Chemie AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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