Global Concrete Surface Retarders Market Highlights over 2022 – 2030
The global concrete surface retarders market is estimated to grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. Concrete surface retarders delay the setting or drying of the top most surface of concrete, which is desired for various purposes. The growth of the market can be attributed to the growing application of these retarders amongst various verticals, backed by the advantages for concrete surface retarders for creating slip-resistant surfaces. The increasing construction of sidewalks or pavements, and inclined surfaces in underground parking lots, are estimated to boost the market growth. The growing application of concrete surface retarders for making precast panels, bricks, and exposed aggregate surfaces, among others, are estimated to boost the market growth. More than 1,500 million bricks are being produced globally, and this is estimated to grow with the growth of construction activities. Along with this, these are sometimes used to counter the fast-drying action caused by high temperature, which is projected to boost their demand significantly in various regions.
The market is bifurcated by type into water-based and solvent-based, out of which, the water-based segment is anticipated to hold the notable share in the global concrete surface retarders market over the forecast period on account of easy application, reasonable cost, and eco-friendly nature. Water-based retarders contain lesser amount of VOC (volatile organic compounds), and hence, are non-hazardous, which is estimated to boost their demand in the upcoming years.
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Concrete Surface Retarders Market Regional Synopsis
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.
The global concrete surface retarders market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global concrete surface retarders market includes the following segments:
By Type
- Water Based
- Solvent Based
By Application
- Concrete Joints
- Architectural Concrete
- Precast Concrete
- Slip-Resistance Surfaces
- Others
By End-User
- Infrastructural
- Commercial
- Industrial
- Others
Growth Drivers
- Increasing Demand for Slip-resistant Surfaces
- Rise in the Global Construction Activities
Challenges
- Common Incidences of Cracks and Bleeding
- Lack of Information Regarding Dosage Amount
Top Featured Companies Dominating the Market
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 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
- CEMEX S.A.B. de C.V.
