Urethane Concrete Sealer Market Trends

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

Urethane Concrete Sealer Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	7.5%
Base Year Market Size (2023)	USD 2.15 Billion
Forecast Year Market Size (2036)	USD 5.5 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of urethane concrete sealer is estimated at USD 2.3 Billion.

The urethane concrete sealer market size was over USD 2.15 Billion in 2023 and is likely to cross USD 5.5 Billion by the end of 2036, witnessing more than 7.5% CAGR during the forecast period i.e., between 2024-2036. Expansion of commercial building construction and rise in residential construction are the major factors driving the market growth.

North America is expected to account for majority industry share by 2036, attributed to rapid expansion of the construction industry and the presence of leading market key players.

Perma Inc., 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

Urethane Concrete Sealer Market Trends