Urethane Concrete Sealer Market size is expected to surpass USD 5 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of urethane concrete sealer was over USD 2 Billion.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.
Growth Drivers
Challenges
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.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2035) |
~ USD 5 Billion |
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Regional Scope |
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Application (Residential, Commercial, Industrial Construction)
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.
Sales Channel (Direct, Indirect Sales)
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 market includes the following segments:
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By Application |
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By Sales Channel |
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North American Market Forecast
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.
APAC Market Statistics
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.
Evonik Industries AG has successfully acquired German biotech company JeNaCell. This acquisition is projected to expand the company’s biomaterials portfolio to provide biotechnologically derived cellulose. The company further plans to double its share in Nutrition & Care system solutions by 2030. JaNaCell has made a material based on natural ingredients for utilization in dermatology.
The Dow Chemical Company has joined Shell to develop ethylene steam crackers, which supplies chemicals used to make products that are used by customers every day. Additionally, the company has completed the manufacturing of an e-cracking furnace which is being utilized at Energy Transition Campus Amsterdam.
Author Credits: Rajrani Baghel
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