New York, USA, June 28, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global concrete densifier market is anticipated to generate a revenue of $1,537.00 million and grow at a CAGR of 6.2% throughout the estimated period from 2022 to 2032.
As per our analysts, the increasing construction activities across the globe due to emerging economies are expected to augment the growth of the concrete densifier market throughout the forecast timeframe. Besides, the rising prevalence of remodeling and reconstruction projects and the growing demand for aesthetically pleasing flooring at cost-effective prices are predicted to boost the growth of the market over the analysis period. Moreover, the rising demand for affordable housing and rapid urbanization are expected to create expansive growth opportunities for the concrete densifier market during the analysis period. However, chemical densifiers can cause acidic damage to concrete which may impede the growth of the market over the estimated timeframe.
Segments of the Concrete Densifier Market
The report has divided the market into segments based on type, method, construction type, end-use, and region.
Type: Sodium Silicate Sub-Segment to be Most Productive
The sodium silicate sub-segment generated the highest revenue in 2022. The increasing demand for sodium silicate densifiers for high-traffic areas due to their increased abrasion resistance is expected to foster the growth of the market sub-segment over the analysis timeframe.
Method: Dry-Sub-Segment to be Most Profitable
The dry sub-segment held the largest market share in 2022. This is mainly because dry densifier is less expensive. Additionally, the increasing demand for dry densifiers for interior applications as they are used in their concentrated form with no overspray and cause less dirt compared to wet ones is expected to magnify the growth of the concrete densifier market sub-segment during the forecast period.
Construction Type: Renovation Sub-Segment to be Most Lucrative
The renovation sub-segment registered the highest revenue in 2022. This is mainly due to the increasing occurrence of renovation activities as many homeowners want to upgrade their houses and decorate them with durable and aesthetically appealing concrete floors. Moreover, concrete densifiers offer a cost-effective and green solution for homeowners which is expected to fuel the growth of the market sub-segment over the estimated period.
End-User: Non-Residential Sub-Segment to be Most Beneficial
The non-residential sub-segment held the biggest market share in 2022. The increasing demand for concrete densifiers from hospitals, restaurants, shopping malls, and other public places due to their several advantages such as smooth appearance, longevity, and durability is expected to uplift the growth of the market sub-segment in the coming period.
Region: North America Market Held the Dominant Share in 2022
The North America region of the concrete densifier market generated the largest revenue in 2022. This is majorly due to the increased construction activities across the region. Moreover, rapid urbanization and increased industrialization have created major construction projects including high-rise buildings, a retail center, a public square, and many more which are expected to drive the regional growth of the market over the estimated period.
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Covid-19 Impact on the Concrete Densifier Market
The outbreak of the Covid-19 pandemic has brought various uncertainties across several industries. It has badly impacted the concrete densifier market too. The stringent nationwide lockdowns and unprecedented disruptions in supply chains have affected construction activities across the globe. However, the increasing government investments in infrastructure projects gradually to create jobs and boost economic growth have brought numerous growth opportunities for the market throughout the crisis.
Key Players of the Concrete Densifier Market
The major players of the market include
- W. R. Meadows Inc.
- The Sherwin Williams Company
- Evonik
- The Euclid Chemical Company
- Laticrete International Inc.
- Sika AG
- Jon Don LLC
- W.R. Grace & Co.
- Solomon Colors Inc.
- BASF SE
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in April 2022, Sika AG, a specialty chemicals company, introduced its new product, namely, SikaCem®-190 Concrete Control, a non-filming, low VOC, amorphous colloidal silica topical additive. This product could be applied to freshly placed concrete to provide adequate moisture and prevent the risk of the premature setting of concrete.
Further, the report also presents other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Concrete Densifier Market:
- Significance of Concrete Densifiers in Modern Apartments
- Product Launches, Company Acquisitions, and Technological Advancements by Market Players to Foster the Growth of the Global Concrete Densifier Market
