New York, USA, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global concrete densifier market. According to the report, the global market is projected to surpass $1,599.2 million and grow with a CAGR of 6.3% in the estimated period, 2021–2030. This all-inclusive report delivers a comprehensive overview of the current and future situation of the global market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Concrete Densifier Market
The outbreak of the COVID-19 pandemic in 2020 has had a negative impact on the growth of the global concrete densifier market. The execution of lockdown restrictions resulted in the closure or postponement of construction activities across the world. Moreover, labor shortages, inadequate supply of raw materials, supply chain disruptions, and travel restrictions significantly hampered the construction industry. As a result, the demand for concrete densifiers dropped greatly during the crisis period, which hindered market growth.
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Factors Impacting the Concrete Densifier Market Growth
The key factor boosting the growth of the global concrete densifier market is a significant rise in construction activities, an increasing global population, and rapid urbanization worldwide. In addition, the increasing reconstruction and renovation projects in residential and commercial sectors are fueling the demand for smooth as well as visually appealing floorings at affordable prices; this is expected to open doors to lucrative opportunities for the growth of the market. However, environmental concerns related to the use of concrete densifiers are anticipated to hamper the market’s growth.
The report segments the global concrete densifier market into method, construction type, end use, and region.
Dry Sub-Segment to Grab a Foremost Share of the Market
The dry sub-segment of the method segment is anticipated to grow enormously by surpassing $875.3 million in the forecast period. This growth is mainly owed to the increasing preference for dry method for using concrete densifier owing to its benefits such as greater shine, better hardening and condensation of the floor, and ease of usage in both open as well as small areas.
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New Construction Sub-Segment to Grab a Foremost Share of the Market
The new construction sub-segment of the construction type segment is anticipated to grow enormously by surpassing $818.7 million in the forecast period. This growth is mainly owed to the increasing number of new construction projects such as residential houses, warehouses, office spaces, and others across the globe.
Residential Sub-Segment to Grow Remarkably
The residential sub-segment of the end use segment is expected to hit $764.9 million in the forecast period. This is primarily due to the rising urbanization and growing demand for residential homes owing to the growing population across the globe.
Asia-Pacific Region to Perceive Speedy Growth
The report analyzes the global concrete densifier market across several regions such as Asia-Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific market is anticipated to garner $495.6 million in the estimated period. This growth is mostly due to the growing number of residential construction projects, and rapid industrialization & urbanization in this region.
Top Players of the Global Market
The report states some of the foremost players operating in the global concrete densifier market including
- Sika AG
- Vexcon Chemicals Inc.
- Pittsburgh Plate Glass Industries Inc.
- The Euclid Chemical Company.
- 3M
- BASF SE
- Ultra Tech Cement Limited
- The Sherwin Williams Company
- Boral Limited
- Solomon Colors Inc.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market- Inquire here to buy full report
For instance, in June 2021, Convergent Concrete Technologies, a specialty chemical firm that focuses on manufacturing chemical concrete treatments, launched an innovative concrete hardener and densifier named, STRiON.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Concrete Densifier Market:
- Significance of Concrete Densifiers in Modern Apartments
- Product Launches, Company Acquisitions, and Technological Advancements by Market Players such as Vexicon Chemicals, Convergent Concrete Technologies, and Others to Foster the Growth of the Global Concrete Densifier Market
