DUBLIN--(BUSINESS WIRE)--The "Concrete Admixtures Market by Product Type (Superplasticizers, Normal Plasticizers, Accelerating, Retarding, Air-entraining, Water-proofing), End-Use Sectors (Residential, Commercial and Infrastructure), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering
The global concrete admixtures market size is projected to grow from USD 15.4 billion in 2019 to USD 24.0 billion by 2024, at a CAGR of 9.3%, between 2019 and 2024.
The increasing infrastructure spending in line with numerous government initiatives across the world and the added physical and chemical benefits of admixtures is expected to drive market growth. Established infrastructure in developed countries and unstable economic cycles are restraining the growth of the concrete admixtures industry.
Based on product type, the superplasticizers segment is expected to lead the concrete admixtures industry during the forecast period.
The superplasticizers accounted for the majority of the concrete admixtures market share in 2018 and the trend is expected to continue during the forecast period between 2019 and 2024. Increasing construction activities are expected to play a vital role in driving he growth of the segment.
Superplasticizers, or high-range water reducers (HRWR), reduce water content by 12-30% and can be added to concrete with a low-to-normal slump and water-cement ratio to make high-slump flowing concrete. These admixtures improve the workability of the concrete to a great extent than the conventional water-reducing admixtures. Superplasticizers are added to concrete just before its use, which makes it convenient for the user to control the discharge of concrete and reduce slump.
Infrastructure is expected to grow at the highest CAGR during the forecast period.
The infrastructure sector develops in tandem with the growth and development of the global economy. The increasing demand for infrastructure development and the easy availability of debt financing have led to a strong focus on this sector. Infrastructure projects are mainly funded by governments, globally, to ensure good public infrastructure, which, in collaboration with the private sector, keeps the economy in a good shape. The introduction and implementation of various government initiatives around the globe for infrastructure development to support the sustainable economic growth of their countries are driving the concrete admixtures market growth.
APAC is expected to lead the concrete admixtures industry during the forecast period.
The APAC region is projected to lead the concrete admixtures market from 2019 to 2024, in terms of value. APAC has emerged as one of the leading producers as well as consumers of concrete admixtures due to rapid industrialization and urbanization. The economic growth in the APAC region, particularly in emerging markets, such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is contributing to the increase in the number of infrastructure projects, which is expected to drive the demand for concrete admixtures in the construction industry.
BASF SE (Germany), SIKA AG (Switzerland), GCP Applied Technologies (US), RPM International Inc. (US), Fosroc International Inc. (UK), Mapei S.P.A (Italy), CICO Technologies Ltd. (India), CHRYSO S.A.S (France), Concrete Additives and Chemicals Pvt. Ltd. (India), and Rhein-Chemotechnik GmbH (Germany) are the key players operating in the concrete admixtures market.
- Emerging Construction Industry With Huge Growth Potential in the Developing Countries
- Growing Urbanization Trend
- Improved Quality and Economics of Construction
- Established Infrastructure in Developed Countries
- Unstable Economic Cycles
- Utilization of Ready-Mix Concrete (RMC) in Developing Countries
- Lack of Technical Guidance and R&D
- Unstable Cost of Raw Materials and Energy
- Stricter Environmental Regulations
- Lack of Awareness Among End Users
- Substandard Products
- BASF SE
- CHRYSO S.A.S.
- CICO Technologies Ltd
- Concrete Additives and Chemicals Pvt. Ltd.
- Cormix International Limited
- Fosroc International Ltd
- Fritz-Pak Corporation
- Fuclear Technologies Inc.
- GCP Applied Technologies Inc.
- Ha-Be Betonchemie
- Lanya Concrete Admixtures
- Mapei S.P.A
- Muhu (China) Construction Materials Co., Ltd.
- Polisan Kimya San. A.S.
- Rhein-Chemotechnik GmbH
- RPM International Inc.
- Sakshi Chem Sciences Pvt. Ltd.
- Shandong Wanshan Chemical Co. Ltd.
- SIKA AG
- Weber Saint-Gobain
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