North America concrete sealer market is slated to witness appreciable growth in the coming years, driven by escalating demand for restoration and modernization of aging infrastructure. The rising investments by stakeholders in the construction sector will also have a part to play in expanding the demand for concrete sealers across North America.
Since years, concrete has been considered as an incredibly durable flooring choice. Product demand will observe a commendable rise in North America, given that concrete floor sealers are an easy and affordable alternative to ensure that the floor will function well for years, whether for a residential or commercial property. A good concrete sealer prolongs the life of the floor, enriches and preserves its appearance, prevents moisture issues, and provides resistance to stains and scuffs.
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Commonly used indoor concrete sealers include film-forming sealers, either acrylic or epoxy, of which softer acrylic sealers, that need a sacrificial floor wax, are popularly used in residential concrete floors, comprising basements. On the other hand, epoxy concrete sealers are more durable and are used as concrete sealer for garage floors and in high traffic retail environments.
According to the latest research conducted by Global Market Insights, Inc., North America concrete sealer market is estimated to surpass the USD 250 million mark by 2026.
Major trends likely to impel North America concrete sealer market growth
Increasing inclination towards eco-friendly concrete sealers
Rising inclination towards the use of eco-friendly concrete sealers, mainly bio-based products, in the construction industry, is a major trend observed in North America concrete sealer market. Stringent environmental regulations regarding the VOC content from several government bodies, for instance Environment Canada and the U.S. Environmental Protection Agency, have been hindering concrete sealer market growth in the region, which is mainly why the deployment of eco-friendly products came into being.
Rising contribution of industrial projects to the total market share
Industrial projects segment in the North America concrete sealer market is poised to contribute a revenue of more than 25 per cent of the total market share over the forecast period. This rise is chiefly attributed to the escalating demand for oil & gas extraction activities in the region. Based on application, the North America concrete sealer market is divided into various segments comprising commercial, residential, industrial, institutional, municipal, and others.
Key drivers propelling North America concrete sealer industry demand
Rising investments in the construction sector accompanied by the surging demand for multi-family and single-family housing will boost the regional demand for construction demand, in turn augmenting North America concrete sealer industry outlook.
The construction projects in the region had been stalled over a decade back in the light of recession. The sector has, however, since then, gained remarkable momentum, owing to positive trends in the residential market, increasing purchasing power of people, and better standards of living, in turn propelling the regional business landscape.
Major growth prospects of North America concrete sealer market
North America concrete sealer market is slated to register a substantial CAGR of nearly 3.3 per cent over 2020-2026. The newly put up construction projects in the North America market are estimated to exceed a valuation USD 1.53 billion through 2022 and are expected to fuel regional concrete sealer industry expansion.
Restraints likely to hinder North America concrete sealer industry outlook
Some concrete sealers are found to contain volatile organic compounds that are liberated into the air during application and at a slower rate after the sealer has dried. Various federal and local regulations have, therefore, put limits over VOC content, hindering concrete sealer industry expansion in the region. Further, the toxic fumes released during application could cause irritation to skin or eyes, requiring concrete sealers to be handled with utmost caution.
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In essence, North America concrete sealer industry will gain remarkable momentum in the ensuing years, driven by the escalating demand for myriad products comprising penetrating concrete sealers, polyurethane concrete sealers, film-forming concrete sealers, and others. Prominent industry players, including BASF, Omnova Solutions, Mapei Construction Products, Euclid Chemical Company, and others, have been working over product innovations to bolster concrete sealer industry outlook.
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