The global concrete admixtures market is estimated to grow at ~6% CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be accredited to the rapid recovery in the construction industry post-coronavirus pandemic, along with the increasing construction activities in the world. Concrete admixtures are the additives used while mixing the concrete, to enhance the performance of cement, along with some additional desired properties, such as, speed up hydration, wide temperature tolerance, and corrosion resistance, among others. The various advantages provided by the admixtures can fasten the construction process and save significant amount of money. This is estimated to boost the market growth. In addition to this, the construction industry is currently growing at a rapid pace to recover the losses and compensate for the halt caused due to the COVID-19 pandemic, which is estimated to create generous growth opportunities for the concrete admixtures market. The construction industry valued at almost USD 12,000 billion in 2019, witnessed a dip to around USD 11,500 billion in 2020. The industry is estimated to recover the losses and regain the value of around USD 12,000 billion by the end of 2021.
The global concrete admixtures market is segmented by type into retarders, accelerators, bonding agents, corrosion inhibitors, and others out of which, the accelerators segment is anticipated to hold notable share over the forecast period on account of their properties to accelerate the hydration process of concrete. Faster hardening 0f c0ncrete can speed up the process of construction significantly, which is one of the major growth factors for this segment. Meanwhile, the retarders segment is also estimated to garner substantial market share over the forecast period, owing to the rising application of retarders in large or difficult pours. CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global concrete admixtures market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of rising demand for fast tracking the construction activities backed by rising urban population. Moreover, the construction industry holds a prominent share in the economy of the United States, which is anticipated to boost the market growth in the region. The U.S. construction industry valued around USD 1.4 trillion in 2020.
The market in the Asia Pacific region is estimated to hold the largest market share over the forecast period, on the back of growing construction industry in China, and other developing countries. The construction industry in China amounted to USD 1,050 billion in 2020. The abundance of cheap labor, and growing demand for houses and work place, backed by rising population in the countries, including, India, China, and Japan.
The global concrete admixtures market is further classified on the basis of region as follows:
Our in-depth analysis of the global concrete admixtures market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The increasing demand for additional properties in concrete, such as, water retention and quick drying is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2030.
The unorganized nature of construction industry is estimated to hamper the market growth.
The North America region is estimated to provide most growth opportunities over the forecast period, owing to the growing construction industry, along with the demand for fast tracking the construction activities.
The major players in the market are Sika AG, Concrete Additives & Chemicals Pvt Ltd, CHRYSO SAS, The Taiwan Cement Corporation, Martin Marietta Inc., Holcim Ltd, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The accelerators segment is anticipated to hold largest market size and is estimated to grow owing to the rising demand for fastening the process of construction over the forecast period.
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