On the basis of geographical analysis, the global concrete surface retarders market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing construction activities, backed by industrial and infrastructural development in the region. Out of the total production of concrete bricks, more than 85% are produced in the Asia Pacific region. China is one of the top exporters of bricks in the world.
The market in the North America region is anticipated to gain significant market share throughout the forecast period owing to the rising urbanization, construction of highways, bridges, and parking lots, and growing industrial construction activities in the developed nations.
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The global concrete surface retarders market is further classified on the basis of region as follows:
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 Programme), 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 & labor 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.
Our in-depth analysis of the global concrete surface retarders market includes the following segments:
April, 2021: Sika AG to develop a range of lower CO2 concrete admixtures implementing the LC3 technology. Sika is focusing on the R&D activities to reduce carbon footprint in the upcoming years.
January, 2019: In-transit Concrete Management System, named VERIFI, made by the leading provider of construction products, GCP Applied Technologies, was bestowed as one of the best construction technology products of the year.
May, 2021: Saint-Gobain to acquire CHRYSO SAS, which is a leading global player in the construction chemicals. The acquisition aims to promote sustainable construction.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The growing construction activities and increasing application of chemicals in concrete to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2030.
Ans: The market in the Asia Pacific region will provide more business opportunities for growth over the forecast period owing to the increasing construction activities and production of construction products in the region.
Ans: The major players in the market are Sika AG, Mapei S.p.A., GCP Applied Technologies Inc., Concrete Additives & Chemicals Pvt Ltd, CHRYSO SAS, The Taiwan Cement Corporation, Martin Marietta Inc., Holcim Ltd., and others.
Ans: 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.
Ans: The market is segmented by type, application, end-user, and by region.
Ans: The infrastructural segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Ans: Lack of information regarding dosage amount and other technical knowledge estimated to hamper the market growth.