Escalating growth in the global population is likely to be a key growth driver in the concrete surface treatment chemicals market. Asia Pacific region is the major reason behind the increased rate of population growth. The global population has risen from 6.1 billion in 2000 to 7.6 billion in 2018. Out of this, China holds 18.4% share, followed by India accounting for 17.7%.Increasing population and rising urbanization are some factors driving the construction industry in the emerging nations. This in turn would boost the demand for various concrete surface treatment chemicals over the study period.
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Solvent-based products have higher V.O.C content which results in adverse effects on environment and human health. These products are harmful if inhaled and may cause respiratory irritation, dizziness, etc. and have long-term toxic effect on aquatic life. Such harmful effects along with the limited application of other products due to availability of substitutes in developing economies may hinder the growth of the concrete surface treatment chemicals market.
Curing compounds product category has significant industry share in concrete surface treatment chemicals market and will grow at CAGR over 6% during the forecast timespan. The product provides protection through optimal curing against solar heat. Preferred in the spray form, it develops a layer over the surface reducing water loss, provides accurate curing to the surface, etc. It is mainly used for horizontal surfaces like highways, streets, runways, etc.
In 2018, municipal end-users accounted for approximately one-fifth share of the total concrete surface treatment chemicals market. This segment includes civil structures, road construction, bridges, etc. This end-user category will witness a growth exceeding 6% CAGR in the forecast timespan, owing to the ongoing developments in the evolving construction markets.
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Asia Pacific dominated the concrete surface treatment chemicals market with over 50% industry share in 2018. Large number of concrete surface treatment chemicals manufacturers, high-production capabilities and continuously increasing demand from China, India, South Korea and Japan are the few factors responsible for the commanding position of the region.
Initiatives by Government of India such as Bharatmala Project (for roads & highways construction), Sagarmala (for port construction and expansion), Smart-city projects, AMRUT to provide basic civic amenities, etc. has triggered the construction sector in the country. Meanwhile, CAAC (Civil Aviation Administration of China) is aiming to build more than 200 airports by 2035 in order to meet the escalating air travel demands. These factors will drive the regional demand for concrete surface treatment chemicals in near future.
Some participants of concrete surface treatment chemicals market include DowDupont, BASF SE, Lion Specialty Chemicals, AkzoNobel Chemicals, Henkel Corporation, 3M Company, Sika Ag, etc. These players are expanding their production capabilities and are actively involved in investing in innovation to tackle environmental limitations and meet the changing demand from their customers.
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