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CHEMICALS AND ADVANCED MATERIALS

Urethane Concrete Sealer Market Analysis by Application (Residential Construction, Commercial Construction, and Industrial Construction); and by Sales Channel (Direct Sales, and Indirect Sales) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • August, 2021: Evonik Industries AG has successfully acquired German biotech company JeNaCell. The acquisition is projected to expand the company’s biomaterials portfolio to provide biotechnologically derived cellulose.

  • June, 2020: The Dow Chemical Company has joined Shell to jointly develop ethylene steam crackers, which supply chemicals used to make products that people use every day.

Global Urethane Concrete Sealer Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global urethane concrete sealer market is estimated to garner a notable revenue by the end of 2031 by growing at a robust CAGR over the forecast period, i.e., 2022 – 2031. Further, the market generated a noteworthy revenue in the year 2021. The growth of the market is attributed to the increased adoption of urethane concrete sealer across the construction industry. The recent boom in construction industry is thus expected to fuel the market growth. As per recent statistics, the total spending in the U.S. construction sector was totaled to be USD 1.36 trillion in 2020. Further, the U.S. construction industry accounted 4.2% of the total GDP in 2021.

Urethane Concrete Sealer Market Size Overview

Applied on concrete surfaces, urethane concrete sealer provides protection from corrosion, staining and other degrading processes. Urethane concrete sealer adds an impermeable layer which prevents materials from passing or accumulating on concrete surfaces. Urethane concrete sealer is highly durable and has abrasion resistant nature that significantly increases the life of concrete structures. Additionally, it dries up quickly, thus allowing professionals to finish their projects in a timely manner. The increased involvement of the population in the construction sector is expected to expand the construction industry which is further projected to fuel the urethane market growth in the forecast period. As per 2021, there were almost 10 million construction workers in the United States, approximately 8% of the total working population.

Global Urethane Concrete Sealer Market: Growth Drivers and Challenges

Growth Drivers

  • Rise in Residential Construction – As per the United States Census Bureau, till June 2021, there were 142,153,010 housing units in the U.S. Further the building permit in the same period was 1,736,982 units.

  • Burgeoning Population – The growth of the population is expected to rise the demand for housing and other buildings for survival. The increased need of construction is further anticipated to fuel the demand of urethane concrete sealer and expand the market size. As per the World Bank, the total population in the world stood at 7.76 billion in 2021, up from 7.09 billion in 2012.

Urethane Concrete Sealer Market World Chart

  • High Investment in Real Estate – As per recent estimates, the revenue of real estate companies worldwide stood at USD 9.5 billion in 2021.

  • Expansion of Commercial Building Construction – The data released by the Commercial Buildings Energy Consumption Survey (CBECS), estimated that there were approximately 5.9 million U.S. commercial buildings in 2018. Further, the number of commercial buildings increased by 6% since the CBECS was last conducted in 2012.

  • Soaring Construction of Buildings – As per data in 2020, there were 350,000 industrial buildings and 240,000 military buildings in the United States.

Challenges

  • Easy Availability of Other Substitutes
  • Fluctuating Costs of Raw Materials
  • Stringent Rules by Government

The urethane concrete sealer market is segmented and analyzed for demand and supply by application into residential construction, commercial construction, and industrial construction. Out of these, the residential construction segment is anticipated to garner the highest revenue by 2031, owing to increased number of residential buildings across the globe. As per estimations, in 2020, there were almost 100 million single family homes in the U.S. Further, there were around 5.2 million multifamily residential buildings in the same period. The residential construction is expected to dominate the market due to increased population. In 2020, it was calculated that 90% of the buildings in the U.S. were single family homes, with approximately 200 billion square feet.

Major Macro-Economic Indicators Impacting the Market Growth

Urethane Concrete Sealer Market Regional Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Urethane Concrete Sealer Market Regional Synopsis

Regionally, the global urethane concrete sealer market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031, owing to the rapid expansion of construction industry and presence of leading market key players. In the U.S. economy, construction industry has more than 745,000 employers and over 7.6 million employees. Further the burgeoning population of the region is expected to increase the spending on building construction. The total U.S. spending on construction amounted to around USD 1 trillion in 2019. Furthermore, in the same period, the U.S. private, public and commercial sector construction was totaled USD 977 billion, USD 329 billion and USD 29 billion.

Urethane Concrete Sealer Market Share Chart

The global urethane concrete sealer market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global urethane concrete sealer market includes the following segments:

By Application

  • Residential Construction
  • Commercial Construction

By Sales Channel

  • Direct Sales
  • Indirect Sales

Top Featured Companies Dominating the Global Urethane Concrete Sealer Market

  • Perma Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • The Dow Chemical Company
  • Triangle Coatings Inc.
  • Evonik Industries AG
  • BASF SE
  • Prosoco, Inc.
  • Larsen & Toubro Limited
  • LATICRETE International
  • W. R. Meadows, Inc.
  • Key Resin Company

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