Urethane Concrete Sealer Market Size & Share, by Application (Residential, Commercial, Industrial Construction); Sales Channel (Direct, Indirect Sales) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

Global Urethane Concrete Sealer Market Definition

Urethane concrete is used mainly for flooring since it is one of the most durable flooring options available in the market. It can prevent any significant damage caused by extreme temperatures to the machinery. Hence, urethane cement is considered to be suitable for warehouses, manufacturers, production plants, and R&D labs. It can hold the foot traffic from delis. Owing to its long lifespan, it is also utilized in the construction of buildings. Urethane concrete is based on advanced technology of floor coating associated with industrial concrete and it is manufactured with polymer urethane resin technology.

Urethane concrete sealers are significantly resistant to the thermal-shock process and harsh chemicals. It is known to be a bio-based flooring system since utilizes soybean polyols. The coating of urethane concrete sealers lasts for years. Another same material, polyurethane concrete, is also marketed in a notable amount since it shares all the properties of urethane concrete. Some of the major benefits of urethane concrete sealer include the resistance to slipping, impact & chemical, and thermal shock, durability, and aesthetically appealing. Urethane concrete sealers are environmentally safe they are available in water and solvent-based.

Global Urethane Concrete Sealer Market: Key Insights

Global Urethane Concrete Sealer Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global urethane concrete sealer market is estimated to garner a revenue of ~USD 5 Billion by the end of 2035 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The growth of the market can be attributed to the increased adoption of urethane concrete sealers across the construction industry. The recent boom in the construction industry is thus expected to fuel market growth. As per recent statistics, the total spending in the U.S. construction sector totaled to be ~USD 2 trillion in 2020. Further, the U.S. construction industry accounted for 4.2% of the total GDP in 2021. The higher utilization of urethane concrete sealer in the construction industry is associated with the fact that it increases the lifespan of floors and walls. It prevents cracks and stains and protects them from humidity by making them durable and long-lasting. Hence, this factor is estimated to boost the market growth over the forecast period.

Applied on concrete surfaces, urethane concrete sealer protects from corrosion, staining, and other degrading processes. Urethane concrete sealer adds an impermeable layer that 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 promptly. 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 of 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

• Burgeoning Population to Escalate the Demand for the Construction of New Buildings – 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. The growth of the population is expected to rise the demand for housing and other buildings for survival. Furthermore, a notable number of people are migrating to the urban areas in search of livelihood or to live a luxurious life has also triggered the demand for rapid construction of new buildings. On the other hand, there has been a significant boom in the construction of commercial buildings backed by rising government initiatives to constitute smart cities. The increased need for construction is further anticipated to fuel the demand for urethane concrete sealers and expand the market size.

• Rise in Residential Construction to Boost the Market Growth– 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.

• High Investment in Real Estate Globally– 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.

Challenges

• Presence of the Substitute Material of Urethane Concrete in the Market

Some people and architects don’t prefer urethane concrete owing to the convenient availability of other substitutes such as. Acrylic, film-forming sealers, epoxy, and others. Epoxy concrete sealers are heavily used in indoor flooring since it is the most durable material. Additionally, there are several groups of urethanes which are comprised of polyurethane as well.

• Fluctuating Costs of Raw Materials
• Stringent Rules by the Government

Global Urethane Concrete Sealer Market Segmentation

The global urethane concrete sealer market is segmented and analyzed for demand and supply by end-user into residential, commercial, and industrial construction. Amongst these three segments, the residential segment is expected to garner a significant share. The growth of the market can be ascribed to the 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. Residential construction is expected to dominate the market as there is an ample amount of 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. Therefore, all these factors are expected to hike the market growth over the forecast period.

Furthermore, the commercial construction segment is also expected to obtain the second-largest share of the market over the forecast period. Commercial construction includes renovating, designing, and building new commercial structures based on demand. The segment is projected to grow on the back of rising funding for construction and a surge in business activities across the globe. The properties comprised of the commercial building are retail spaces, office space, multi-family retail, and industrial use. Urethane concrete can also be combined composites manufactured with several materials such as cement and many more. In commercial construction, a person can find hotels, office buildings, medical & shopping centers, warehouses, and others. As of 2018, approximately 6 million commercial buildings in the USA took around 95 billion square feet in the United States.

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

Global Urethane Concrete Sealer Market Regional Synopsis

The North American urethane concrete sealer market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the rapid expansion of the construction industry and the presence of leading market key players. In the U.S. economy, the 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 totaled USD 977 billion, USD 329 billion, and USD 29 billion.

Furthermore, the market in the Asia Pacific region is also expected to grow at a notable pace over the forecast period. Growth in urbanization boosting the demand for more buildings for people to dwell in is estimated to expand the market size in the region over the forecast period. For instance, it was estimated that around 50% of the population of Asia will migrate to urban areas by 2030. Additionally, the growing real estate industry in the Asia Pacific region has also spurred the demand for rapid building construction whether it’s commercial or residential. Hence, all these factors are expected to boost the market growth over the forecast period.

Top Featured Companies Dominating the Global Urethane Concrete Sealer Market

• Perma Inc.
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• The Dow Chemical Company
• Triangle Coatings Inc.
• Evonik Industries AG
• BASF SE
• Prosoco, Inc.
• Larsen & Toubro Limited
• LATICRETE International, Inc.
• W. R. Meadows, Inc.
• Key Resin Company