Concrete Conditioner Market Research, 2030
The global concrete conditioner market was valued at $476.00 million in 2021, and is projected to reach $783.00 million by 2030, growing at a CAGR of 5.5% from 2022 to 2030. Concrete conditioner floors are solid and non-porous, as they do not hold moisture they are resistant to growth of bacteria. The surface of such floors is thus, germ-free and clean. Due to its low maintenance requirements, ease of cleaning, resistance to stains & damage, and other characteristics, the majority of constructors of industrial and commercial buildings consider concrete flooring to be one of the best options.
Concrete conditioner is widely used in residential, commercial, industrial, and institutional building construction. It provides resistance against abrasions, high impact, from harsh climatic conditions, and others. Thus, increase in infrastructure spending around the globe will positively influence the flooring demand, thereby increasing the concrete conditioner market size in coming years. Price volatility of the raw materials used to make concrete conditioners is expected to last throughout the forecast period. These factors are predicted to limit market expansion in the near future. Thus, the cost of concrete conditioner is anticipated to be at the higher side and in turn it is anticipated to limit the market expansion. These factors are anticipated to increase the concrete conditioner market growth in the near future.
Concrete conditioners do not involve use of harmful chemicals during its manufacturing process. Thus, concrete conditioners do not emit toxic Volatile Organic Compounds (VOCs). These factors are expected to produce profitable investment opportunities as it will attract more builders. Also, due to rising demand for better infrastructure and safety features, renovation of existing residential projects and commercial real estate are increasing. It is predicted that the increased urbanization will generate market expansion prospects for concrete conditioners.
The key players profiled in this report include Pittsburgh Plate Glass Industries, Inc., 3M, BASF SE, Sika AG, Ultra Tech Cement Limited, The Sherwin Williams Company, Boral Limited, Solomon Colors Inc., Vexcon Chemicals Inc., and The Euclid Chemical Company.
The global concrete conditioner market is segmented on the basis of method, construction type, end-use, and region. By method, it is classified into dry and wet. By construction type, it is classified into new and renovation. By end-use, it is classified into residential and non-residential. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The concrete conditioner market is segmented into Method, Construction Type and End-Use.
By method, the wet sub-segment is estimated to be the fastest growing in forecast period. This growth is mainly due to the lesser downtime of wet concrete conditioners. Also, eco-friendly propane-fueled tools and instruments are used in the process of the application of the wet type of concrete conditioners, which enables 100% dust-free applications. These are predicted to be the major factors affecting the concrete conditioner market size during the forecast period.
By construction type, the new sub-segment dominated the global concrete conditioner market in 2020. This growth is mainly due to rising number of new construction projects including residential projects, warehouses, office spaces, and others. Rising use of concrete conditioners in the construction sector are bound to create a scope of growth for the sub-segment during the forecast period. For instance, the U.S., which is renowned for its booming infrastructure and construction projects, committed $20 million for Hudson Yards in New York. Moreover, it is one of the largest construction projects in Chelsea and Hudson Yards. In the coming years, a number of such new construction projects are anticipated to boom the global market.
By end-use, the non-residential sub-segment dominated the global concrete conditioner market share in 2020. While the residential sub-segment is projected to be the fastest growing during the forecast period. This growth is mainly owing to rising demand from the residential sector in the developing countries across the world. For instance, concrete conditioners offer great glossy appearance, long-lasting durability, shine, and others. Over the forecast period, these factors are anticipated to boost the residential sub-segment growth.
By region, Asia-Pacific dominated the global market in 2020 and is projected to remain the fastest-growing region during the forecast period. Increase in industrialization, residential construction, and urbanization has led to growth of concrete conditioner market share in the Asia-Pacific region. Huge constructions such as Foshan Metro Line 4 from Guangdong, China and other such constructions across the Asia -Pacific region are expected to boost revenue growth of the concrete conditioner market.
Impact of COVID-19 on the Global Concrete Conditioner Industry
- The COVID-19 pandemic has negatively impacted various industries such as construction that has led to a drastic decline in concrete conditioner sales
- Concrete conditioner suppliers, customers, and others have had a difficult time doing business as a result of the lockdown implemented during the pandemic
- The concrete conditioner suppliers, manufacturers, distributors, and customers continue to suffer as a result of preventative and protective measures that governments have taken in response to COVID-19
- The business closures or interruptions for an indefinite period of time, reduced operations, decreased workforce availability, and decreased ability to supply products has led to a negative impact on concrete conditioner market
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the concrete conditioner market analysis from 2021 to 2030 to identify the prevailing concrete conditioner market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the concrete conditioner market forecast assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global concrete conditioner market trends, key players, market segments, application areas, and market growth strategies.
Concrete Conditioner Market Report Highlights
By Construction Type
Key Market Players
Sika AG, Ultra Tech Cement Limited, The Euclid Chemical Company, Boral Limited, Vexcon Chemicals Inc., Pittsburgh Plate Glass Industries, Inc., The Sherwin Williams Company, 3M, BASF SE, Solomon Colors Inc.
Increase in demand for construction in real estate and infrastructure projects is the key factor that is projected to drive revenue growth of the global concrete conditioner market during the forecast period. In addition, concrete conditioners' advantageous characteristics such as Ultraviolet (UV) stability, abrasion resistance, and durability is expected to fuel growth of the market in the forecast timeframe. However, cost of concrete conditioner is expected to be at the higher side which is expected to hamper the market revenue growth during the forecast period. On the contrary, rapid urbanization and rise in demand for better and safe infrastructure are factors anticipated to provide remunerative opportunities for key players to maintain the pace of the concrete conditioner market in the upcoming years.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2031. Rapid increase in the industrialization, urbanization, and residential construction are the key factors responsible for leading position of Asia-Pacific in the global concrete conditioner market.