The Global Concrete Conditioner Market Anticipated to Generate a Revenue of $2920.0 Million, Growing at a CAGR of 6.1% from 2021 to 2030Download Sample Reports Overview
The global concrete conditioner market is estimated to be valued at $713.7 million by 2030, surging from $442.2 million in 2020 at a noteworthy CAGR of 4.6%.
Impact Analysis of COVID-19 on the Concrete Conditioner Market
The global market for concrete conditioner is estimated to experience a negative growth due to the COVID-19 pandemic. The market is experiencing a decline in the growth owing to the disruptions in supply chain, shortage of labor, lack of availability of raw materials and others. Due to the lock across the globe all the construction projects have been paused and many of the new projects have been postponed.
Many countries have resumed the construction activities and the demand for the concrete conditioner is upsurging again. The market is anticipated to grow the post pandemic situations.
Global Concrete Conditioner Market Analysis
The global concrete conditioner market is mainly attributed to the rising number of construction activities and various other advantages offered by the concrete conditioner. The rising population and the construction activities majorly in the developing nations such as China, India, and many others are boosting the demand for concrete condition market.
The price fluctuations of raw materials is anticipated to hamper the market growth in the near future.
Concrete conditioner floors are non-porous and dense due to which they do not attract bacteria, and moisture. This leaves the surface clean and germ-free which is of utmost priority during pandemic times. Also, concrete conditioner floors are a toxic-free flooring alternative as it does not involve treatment with chemicals and sealers that emit toxic volatile organic compound (VOCs). These factors are anticipated to create lucrative investment opportunities during the forecast period.
Global Concrete Conditioner Market, Segmentation
The global concrete conditioner market is segmented based on method, construction type, end-use, and region.
The method segment is further divided into wet and dry. The dry sub-segment is anticipated to have a dominating share in the global market and register a revenue of $386.7 million during the analysis timeframe.
The dry concrete conditioner method ensures safe environment as it uses dust extraction systems that are certified with HEPA (High Efficiency Particulate Air) filters so that operators are not exposed to hazardous respirable silica dust. Also, the dry concrete conditioner method endures more shine and finish compared to the wet method. The dry method is cost effective and suitable for both small areas and large open areas. These factors may aid the generation of lucrative revenue throughout the forecast period for the dry sub-segment.
The construction type segment is further categorized into new construction and renovation. The renovation sub-segment is predicted to have rapid growth and generate a revenue of $352.6 million by 2030.
The rapid urbanization, development of smart cities, and movement of people to urban areas are leading to growth in new construction activities, and therefore the demand for concrete conditioner is predicted to massively increase. The new construction activities involve the construction of residential and commercial places across the world.
The end-use segment is further categorized into residential and non-residential. The non-residential sub-segment is predicted to account for highest value and generate a revenue of 367.5 million by 2030.
The concrete conditioner market is experiencing a high demand from non-residential sub-segment due to rapid construction of hotels, hospitals, commercial complexes, industrial buildings, and others. The use of concrete conditioner for non-residential purposes such as commercial or industrial construction help the contractors in achieving the LEED (Leadership in Energy and Environmental Design) ratings due to no harmful impact of concrete conditioner on indoor air quality or the environment. As stated in The U.S. Census Bureau on April 1, 2021, the spending on construction industry in the U.S. on non-residential construction was $3,51,200 million and it is expected to grow rapidly. All these factors are anticipated to drive the growth of the concrete conditioner market during the forecast period.
The concrete conditioner market for the Asia Pacific region is projected to witness rapid growth. This region generated a revenue of $129.9 million in 2020 and is further projected to reach up to $223.7 million by 2030. The demand for concrete conditioner is surging in the Asia-pacific region specifically because of factors such as increase in residential, commercial, and industrial construction activities. Growth in the financial sector, economic stability, and government regulations on the emission of harmful CO2 and greenhouse gases are expected to drive the demand for concrete conditioner market.
Key Players in the Global Concrete Conditioner Market
Some of the leading global concrete conditioner market players are
- Pittsburgh Plate Glass Industries, Inc.
- BASF SE
- Sika AG
- Ultra Tech Cement Limited
- The Sherwin Williams Company
- Boral Limited
- Solomon Colors Inc.
- Vexcon Chemicals Inc.
- The Euclid Chemical Company.
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Concrete Conditioner Market
- Bargaining Power of Suppliers: The companies involved in concrete conditioner business are extensive in number. Thus, companies have many options and alternatives to deal with expensive supplies. Moreover, volatile demands in supplier pricing may impact company profitability.
Thus, the bargaining power of the suppliers is moderate.
- Bargaining Power of Buyers: Buyers have high bargaining power, primarily because of the huge number of concrete conditioner suppliers and dealers that offer concrete conditioner at competitive prices. The buyers can hence choose the one that best fits their preferences and budget.
Hence, the bargaining power of buyers is high.
- Threat of New Entrants: Startups entering this market are making advancements in the concrete conditioner solutions. Further, the switching cost of the buyers is not high.
As a result, the threat of the new entrants is moderate.
- Threat of Substitutes: There is no alternative product for concrete conditioner that offers such cost effective and enhanced flooring solutions.
Therefore, the threat of substitutes is low.
- Competitive Rivalry in the Market: The ventures operating in the global concrete conditioner market are focusing on strategies such as acquisitions, product developments and launch to hold their position in the market. Such initiatives help the companies in strengthening the footprint worldwide.
Therefore, competitive rivalry in the market is moderate.