(MENAFN- PR Newswire) NEW YORK, March 28, 2024 /PRNewswire/ -- In a recent analysis of the
global concrete surface treatment chemicals market , it has been forecasted that the market will witness substantial growth between 2023 and 2027. The market is estimated to reach USD 4,576.1 million at a Compound Annual Growth Rate (CAGR) of 8.55% during this period. This growth is primarily attributed to increasing urbanization, rising disposable income, and a surge in demand for construction chemicals.
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![Technavio has announced its latest market research report titled Global Concrete Surface Treatment Chemicals Market 2023-2027]( "Technavio has announced its latest market research report titled Global Concrete Surface Treatment Chemicals Market 2023-2027")
Technavio has announced its latest market research report titled Global Concrete Surface Treatment Chemicals Market 2023-2027 Key Drivers Fueling Market Growth
One of the significant drivers propelling the market forward is the rising demand for concrete curing compounds. These compounds play a crucial role in retaining moisture content in concrete, thereby enhancing its strength and durability. Moisture-curing adhesives, a type of concrete curing compound, are witnessing increased demand, further boosting the market growth.
Trends and Challenges
The market is witnessing trends such as a diversified product portfolio and strategic positioning of Research and Development (R&D) centers by major companies. This ensures a wide range of product offerings to customers and enhances innovation. However, regulations on Volatile Organic Compounds (VOCs) used in manufacturing mold release agents pose a challenge to market growth. Stringent regulations aim to reduce VOC emissions, which could potentially hinder market expansion.
Key Players and Competitive Landscape
Several prominent companies are actively participating in the concrete surface treatment chemicals market. These include Teknos Group Oy, 3M Co., Akzo Nobel NV, BASF SE, and others. Companies are employing various strategies such as partnerships, mergers, acquisitions, and product launches to strengthen their market presence.
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Market Segmentation and Regional Analysis
The non-residential segment is expected to witness significant growth during the forecast period. Concrete surface treatment chemicals find extensive use in non-residential construction projects worldwide. The Asia Pacific (APAC) region is anticipated to contribute significantly to market growth, with China and India leading the construction industry.
Market Analyst Overview
The concrete surface treatment chemicals market is experiencing robust growth, primarily driven by factors such as population expansion, economic growth, and increasing construction activities, particularly in regions like Asia Pacific. Public and private investments in initiatives such as Smart City Mission and urban transformation projects further augment market demand.
Conclusion
The concrete surface treatment chemicals market continues to grow steadily, propelled by urbanization, construction activities, and regulatory frameworks. As the construction sector expands, the demand for these chemicals is expected to rise, ensuring longevity and durability of concrete structures worldwide.
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Analyst Review
The Concrete Surface Treatment Chemicals Market in the Asia Pacific region, particularly in countries like China and India, is experiencing significant growth due to rapid urbanization, population expansion, and robust economic development. As the construction sector in the Asia Pacific continues to flourish, both public and private investments are pouring into infrastructure projects, fueled by initiatives like China's construction industry's market value and India's Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Smart City Mission.
One of the critical drivers of the concrete surface treatment chemicals market is the growing demand for infrastructure development in developing regions like China and India. These countries are witnessing a surge in construction activities, necessitating the use of advanced surface treatment solutions to enhance the durability and performance of concrete structures.
However, amidst this growth, concerns about environmental sustainability and compliance with regulatory frameworks are paramount. Governments, particularly in India, are implementing stringent real estate regulations to ensure responsible construction practices. This has led to an increased focus on the use of environmentally friendly concrete surface treatment chemicals.
Water-based mold release agents are gaining popularity due to their environmental benefits compared to harmful raw materials traditionally used in the industry. These agents not only provide superior surface finish but also offer protection against water, reducing the risk of blowholes, cracks, and other surface defects. Additionally, they aid in curing compounds, sealants, and moisture and dust control, ensuring the longevity and resilience of concrete floors and walls.
The market for concrete surface treatment chemicals is characterized by a wide range of products tailored to specific needs and applications. From curing compounds to mold release agents and sealants, manufacturers are innovating to meet the diverse requirements of construction projects in the Asia Pacific region.
With the ongoing trend of urbanization and the increasing emphasis on sustainable development, the demand for concrete surface treatment chemicals is expected to continue rising. As China and India remain at the forefront of economic growth and infrastructure development, investments in construction activities will remain robust, further driving the growth of the market in the region.
In conclusion, the Asia Pacific concrete surface treatment chemicals market is witnessing significant developments driven by the construction sector's growth, public and private investments, and regulatory frameworks promoting sustainable practices. Manufacturers are innovating to meet the demand for environmentally friendly solutions, ensuring the durability and resilience of concrete structures in the face of rapid urbanization and population expansion.
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Table of Contents:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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