Concrete Densifier Market by Method (Dry and Wet), Construction Type (New Construction and Renovation), End-Use (Residential and Non-residential), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2030

The global concrete densifier market is predicted to garner $1,599.2 million in the 2021–2030 timeframe, growing from $846.2 million in 2020, at a healthy CAGR of 6.3%.

Market Synopsis

Strategic acquisitions among market players, along with the launch of advanced and new concrete densifier products, is anticipated to drive the growth of the concrete densifier market.

However, the environmental impact associated with the use of cement as a base material in concrete densifier is a growth restraining factor for the market.

According to the regional analysis of the market, the North America concrete densifier market is anticipated to grow at a CAGR of 6.40%, by generating a revenue of $707.5 million during the review period.

Concrete Densifier Overview

Concrete densifier is a multi-step process that involves mechanically grinding and honing the concrete and then polishing it with bonded adhesives. This process endures glossy finish to the floors, and it is widely used in commercial and residential projects.

Impact Analysis of COVID-19 on the Global Concrete Densifier Market

The novel coronavirus pandemic had a devastating effect on several industries, the concrete densifier market has also experienced a negative impact as all the construction projects across many countries were postponed until further notice. Further, the movement of people, supply chain disruptions, and availability of raw material was greatly impacted during the pandemic. The migration of workers from cities to their native places has increased during pandemic. For instance, in India, due to ban on inter-state travel, the construction workers were forced to move to their native places. Further, the price of raw materials increased due to supply chain issues across various countries. All these aspects greatly affected the construction industry thereby reducing the demand for concrete densifier that is widely used in construction. However, several companies, with their strategic steps, are helping the society to recover from the chaotic situation that COVID-19 has brought with itself. For instance, on September 17, 2020, The International Standards and Training Alliance (INSTALL) had made an emphasis to work with building architects and designers for specifying flooring guidelines for COVID-19 to ensure safety. For instance, the porous surfaces are more prone to bacteria and germs, including the COVID-19 virus. Hence, contractors recommend the use of semi-porous sheet flooring or non-porous flooring. As concrete densifier flooring provides non-porous surface, it is an effective flooring solution. The above-stated benefits may generate substantial investment opportunities in the market, amid the COVID-19 crisis.

Growing Construction Activities to Surge the Market Growth

The global concrete densifier industry is witnessing a rapid growth mainly due to increase in construction activities across the world. The construction activities are growing rapidly due to growing population in emerging economies such as India and China. Hence, these factors are driving the demand for residential and commercial spaces with high demand for low maintenance and durable flooring with polished and attractive floors. Such key factors may surge the growth of the market.

Moreover, the reconstruction and remodeling activities in residential and commercial sector are increasing the demand for smooth and aesthetically pleasant flooring at cost-effective price, which is predicted to impel the concrete densifier market growth during the forecast time. The growth in reconstruction and remodeling projects can be majorly attributed to changing consumer preferences for enhancing aesthetic look of their homes, streamlining the energy usage, and upgrading the outdated heating & cooling systems at their homes. For instance, the rapid developments of smart cities and megaprojects like Masdar City in the Emirates, Hudson Yards in the New York, and other such projects are expected to drive the demand for concrete densifier. These types of reconstruction, remodeling, renovation, and new construction projects are predicted to drive the growth of the market.

To know more about global concrete densifier market drivers, get in touch with our analysts here.

Environmental Impact with the Use of Concrete Densifier to Restrain the Market Growth

The environmental impact associated with the use of concrete densifier is expected to restrain the growth of the global market during the forecast period. The key component of concrete densifier is cement, which is the largest producer of carbon dioxide and greenhouse gases. This aspect may create a negative impact on the growth of the market during the forecast period.

Growing Population and Rapid Urbanization to Create Massive Investment Opportunities

The population growth is leading to an increase in demand for housing, a basic necessity of human beings. The rapid urbanization and increase in demand for affordable houses are estimated to drive the concrete densifier market growth. For instance, the Affordable Rental Housing Complexes (ARHC) under the Pradhan Mantri Awas Yojana, offers decent living at an affordable price to the urban poor population of India. All these factors are accelerating the growth of concrete densifier market.

The benefits associated with the use of concrete densifier floors such as high reflectivity, slip resistance, cost-effectiveness, and stain-resistance may further lead to lucrative market opportunities for market players in the upcoming years. The concrete densifier floors are LEED (Leadership in Energy and Environmental Design) friendly and facilitate sustainable building construction without the emission of VOCs (volatile organic compounds). Such key benefits may further lead to lucrative market opportunities for the market players in the upcoming years.

To know more about global concrete densifier market opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The dry sub-segment is anticipated to have a significant market share in the global market and surpass $875.3 million by 2030, with an increase from $477.1 million in 2020. This growth in the market can be attributed to higher shine, more hardening & condensing of floor, and it is efficient for both open areas & small areas. All these factors are estimated to increase the demand for dry concrete densifier and further surge the market growth.

The wet sub-segment of the global concrete densifier market is projected to have the fastest growth and surpass $723.8 million during the analysis timeframe. The wet concrete densifier has shorter downtime, can use environment-friendly propane-fueled machines, and is 100% dust-free process. All these aspects may generate huge opportunities for the wet sub-segment throughout the forecast period.

Source: Research Dive Analysis

The new construction sub-segment of the global concrete densifier is anticipated to have the highest market share and surpass $818.7 million by 2030, with an increase from $447.1 million in 2020, owing to high demand for new construction projects such as office spaces, warehouses, residential houses, and others. For instance, the U.S., which is well known for its booming infrastructure and construction projects, has invested $20,000 million for the construction of Hudson Yards in New York. This is one of the biggest real estate development projects in the Chelsea and Hudson Yards. Several such new construction projects are expected to flourish the global market in upcoming years.

The renovation sub-segment is predicted to have a rapid growth in the global market and register a revenue of $780.3 million during the analysis timeframe owing to growing renovation projects to enhance the aesthetic look of the floor in a cost-effective manner. For instance, as stated in Build Up, a European portal for energy efficiency in buildings, on October 4, 2020, 35% of buildings in Europe are over 50 years old and almost 75% of the buildings are energy inefficient. Hence, the renovation of existing buildings is must for energy saving and to reduce CO2 emissions. Such aspects may create huge opportunities for the renovation sub-segment throughout the forecast period.

Source: Research Dive Analysis

The residential sub-segment of the global concrete densifier market is anticipated to have a significant growth and surpass $764.9 million by 2030, with an increase from $383.6 million in 2020 owing to the population growth that is increasing the demand for residential houses. Also, rapid urbanization is another growth factor as people migrating to urban areas are growing. For instance, the Indian government is providing support for housing sector by allocating funds under national 2021 budget for residential construction. Such measures are expected to drive the growth of residential sub-segment during the analysis timeframe.

The non-residential sub-segment is predicted to reach the highest market share in the global market and register a revenue of $834.2 million during the analysis timeframe owing to high demand for concrete densifier from hospitals, restaurants, commercial complex, and other places. For instance, concrete densifier has excellent shine, glossy look, high performance, and endures longevity. These benefits are estimated to drive the growth of the non-residential concrete densifier sub-segment during the forecast period.

Source: Research Dive Analysis

The Market for Concrete Densifier in North America to be the Most Dominant

The North America concrete densifier market accounted $370.8 million in 2020 and is projected to register a revenue of $707.5 million by 2030. The rapid advancements in e-commerce industry have increased the demand for construction of new warehouses and logistics hubs in North America. For instance, The Atlanta Business Chronicles developers in metro Atlanta area has built 18 million square feet of warehouse space to attract leading e-commerce companies like Amazon and Home Depot. All these factors will ultimately drive the demand in the concrete densifier market across North America.  

The Market for Concrete Densifier in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific concrete densifier market is anticipated to grow at a CAGR of 7.0%, by registering a revenue of $495.6 million by 2030. The growth shall be a result of increasing residential construction, industrialization, and urbanization in the Asia-Pacific region. For instance, during the pandemic, the China State Construction Engineering Corporate (CSCEC) constructed 2 hospitals in Wuhan within a span of 10-12 days. This is one of the largest construction companies in China. Such rapid construction activities and developments will increase the market growth, which will eventually boost the Asia-Pacific concrete densifier market in the upcoming years.

Competitive Scenario in the Global Concrete Densifier Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading concrete densifier market players are Pittsburgh Plate Glass Industries, Inc., 3M, BASF SE, Sika AG, Ultra Tech Cement Limited, The Sherwin Williams Company, Boral Limited, Solomon Colors Inc., Vexcon Chemicals Inc., and The Euclid Chemical Company.

Porter’s Five Forces Analysis for the Global Concrete Densifier Market:

• Bargaining Power of Suppliers: The suppliers in the concrete densifier market are high in number. Several companies are working on product designs and innovations that use different raw materials to avoid changing the supplier if the there is a hike in the price of a particular material.
  Thus, the bargaining power suppliers is moderate.
• Bargaining Power of Buyers: Buyers have huge bargaining power; they demand best concrete densifier products at low prices. This increases the pressure on the concrete densifier suppliers to offer the best services in a cost-effective way. Thus, buyers can freely choose the convenient service that best fits their preference. 
  Thus, the bargaining power of the buyers is high.
• Threat of New Entrants: The companies entering concrete densifier market are adopting product launch and innovations to attract clients. Companies entering the concrete densifier testing market are adopting technological innovations such as developing an innovative software application to attract clients. Also, these companies are implementing various effective strategies such as offering discounts and value propositions. 
  Thus, the threat of the new entrants is moderate.
• Threat of Substitutes: There is no alternative product for concrete densifier solutions. 
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is moderate. The existing players are focusing more on product advancements and acquisitions to enhance their market presence.  
  Therefore, competitive rivalry in the market is moderate.