Portland, OR, June 06, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Global Concrete Densifier Market by Type (Sodium Silicate, Potassium Silicate, and Lithium Silicate), Method (Dry and Wet), Construction Type (New Construction and Renovation), End Use (Residential and Non-Residential), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global concrete densifier market generated $844.7 million in 2022, and is anticipated to generate $1.5 billion by 2032, witnessing a CAGR of 6.2% from 2023 to 2032.
Prime Determinants of Growth
Increase in population across the globe along with the growing construction activities worldwide and the rising demand for low-maintenance, durable flooring with appealing floors in commercial and residential spaces are the factors expected to drive the growth of the global concrete densifier market in the forecast period from 2023 to 2032. However, the acidic damage caused to concrete may hamper the concrete densifier market growth in the coming future. On the contrary, the rapid urbanization and rising demand for affordable housing globally are expected to offer remunerative opportunities for expansion of the concrete densifier market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $844.7 million |
| Market Size in 2032 | $1.5 billion |
| CAGR | 6.2% |
| No. of Pages in Report | 220 |
| Segments covered | Type, Method, Construction Type, End Use, and Region |
| Drivers | Rise in construction activities across the globe Increase in demand for smooth & aesthetically pleasing flooring at cost-effective prices from residential and commercial sectors |
| Opportunities | Rise in global demand for infrastructure development The growing demand for eco-friendly concrete coatings owing to the focus of building industry on sustainable methods |
| Restraints | Ineffectiveness of concrete densifiers to prevent acid damage |
COVID-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global concrete densifier market. The global outbreak caused unprecedented disruptions in manufacturing activities due to lockdowns imposed in various countries across the globe.
- The concrete densifier market growth was hampered due to severe government rules to prevent public gatherings and the shortage of labors during the pandemic period.
- However, key companies operating in the concrete densifier market used a variety of measures to remain competitive in the concrete densifier business, such as product launches, company acquisitions, and others.
Type: Sodium Silicate Sub-segment to Hold Highest Share by 2032
The sodium silicate sub-segment of the global concrete densifier market accounted for the majority of share in 2022. The prominent growth of the sub-segment is mainly because sodium silicate-based concrete densifier penetrates deep into concrete surfaces by capillary action and generates a highly dense and long-lasting sealed floor. Besides, sodium silicate densifiers offer various advantages to give a superior finish to the concrete, such as easier polishing and cleaning process.
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Method: Dry Sub-segment to Hold Majority of Market Share by 2032
The dry sub-segment was valued for the highest market share in 2022 and is predicted to continue to dominate in the global concrete densifier market during the forecast period. The significant growth of the dry sub-segment is mainly because it is less expensive and uses less product to produce the desired outcome. Besides, the dry application process is more efficient and less dirty as compared to wet waste, which makes it a better choice for interior applications or situations where water cannot be used.
Construction Type: Renovation Sub-segment to be the Most Dominant During the Forecast Period
The renovation sub-segment accounted for the highest market share in 2022 and is expected to grow at a highest CAGR of 6.4% during the forecast period. The high demand for renovation from homeowners as they are upgrading and enhancing their houses to decorate the durability and aesthetic appeal of their concrete floors is the major factor predicted to boost the sub-segment's growth by 2032. Besides, the concrete densifiers provide a green and cost-effective solution for homeowners who need to renovate their concrete flooring, which is driving the sub-segment's growth.
End Use: Non-residential Sub-segment to Witness Fastest Growth by 2032
The non-residential sub-segment of the concrete densifier market accounted for the highest share in 2022 and is expected to grow at the highest CAGR of 6.3% during the forecast period. The increasing demand for concrete densifiers from hospitals, restaurants, shopping malls, industrial complexes, and other public places, and the various advantages of using concrete densifiers, such as durability and longevity are the factors projected to fuel the growth of the sub-segment over the forecast period.
Region: North America Market to Generate Significant Revenue by 2032
North America is one of the leading regions known for its highly advanced technology and infrastructure. The concrete densifier market in the North America region is predicted to grow significantly over the forecast period owing to the increased construction activity, which is driving the demand for concrete densifiers. In addition, rapid urbanization and increased industrialization in the region are other factors expected to boost the demand for concrete densifiers from the commercial sector during the forecast period.
Leading Players in the Concrete Densifier Market:
- BASF SE
- Sika AG
- W.R. Grace & Co.
- The Euclid Chemical Company
- W. R. Meadows, Inc.
- The Sherwin Williams Company
- Evonik
- Jon Don LLC
- Laticrete International, Inc.
- Solomon Colors Inc.
The report provides a detailed analysis of the key players of the global concrete densifier market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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