Rapid population growth across the globe will drive the demand of concrete surface treatment chemicals. The world has witnessed a population growth of over 24% between 2000 and 2018. Asia Pacific contributes significantly to this rapid growth. In 2018, China and India collectively accounted for over 36% of the entire world population. This surge coupled with increasing urbanization will further escalate construction activities, which in turn, will drive the consumption of concrete surface treatment chemicals throughout the forecast timespan.
Additionally, public as well as private investments for infrastructure development, government initiatives for improving connectivity, relaxation of real-estate norms, and favorable regulations will boost construction activities in Asia Pacific. Construction chemicals enhances the quality and mechanical characteristics of cement and provides resistance against weather conditions. Their usage is further boosted by their low prices and ease of usage. These mentioned trends will boost the demand of concrete surface treatment chemicals throughout the forecast timespan.
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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 industry.
Curing compounds product category has significant industry share in concrete surface treatment chemicals industry 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.
Asia Pacific dominated the concrete surface treatment chemicals industry 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.
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Concrete surface treatment chemicals industry share is highly competitive. The main players include DowDupont Inc., Sika AG, BASF SE, Henkel Corporation, AkzoNobel Chemicals AG, The Euclid Chemical, Croda International., Laticrete International, Arkema, etc.