The global Concrete Admixtures Market is estimated to reach over USD 24.51 billion by 2031, exhibiting a CAGR of 4.01% during the forecast period
Jersey City, NJ, March 16, 2023 (GLOBE NEWSWIRE) — The global Concrete Admixtures Market is estimated to reach over USD 24.51 billion by 2031, exhibiting a CAGR of 4.01% during the forecast period.
The concrete admixtures market refers to the market for materials added to concrete to improve its performance, workability, durability, and sustainability. Concrete admixtures can be used to modify the properties of concrete, such as setting time, strength, and water resistance, and are used in various applications, including residential, commercial, industrial, and infrastructure projects.
Several factors, including the growth of the construction industry, urbanization, and the need for sustainable and eco-friendly building materials, drive the demand for concrete admixtures. Using concrete admixtures can also reduce the carbon footprint of concrete structures by reducing the amount of cement required to achieve the desired performance and durability. The cost of concrete admixtures is relatively high compared to traditional concrete. This can make it difficult for some construction projects to justify using concrete admixtures, especially for smaller projects or those with tight budget constraints.
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Recent Developments:
In June 2022, Sika will open a new manufacturing facility in Stafford, Virginia, to increase its production of concrete admixtures in the country.
In May 2022, Sika inaugurated a new Santa Cruz de la Sierra facility to produce mortar and concrete admixtures. The new factory has increased Bolivia’s capacity to produce mortar and concrete admixtures by two times, in addition to the current plant.
List of Prominent Players in the Concrete Admixtures Market:
BASF SE
Buildtech Products (India)
CHYRSO SAS
CICO Technologies Ltd (India)
Flowcrete Group Ltd. (India)
Fosroc, Inc.
GCP Applied Technologies Inc.
Mapei SpA
MBCC Group (Germany)
RAZON ENGINEERING COMPANY PRIVATE LIMITED (India)
Rhein-Chemotechnik GmbH
RPM International, Inc
Sika AG
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Concrete Admixtures Market Report Scope:
Report Attribute
Specifications
Market size value in 2022
USD 17.42 Bn
Revenue forecast in 2031
USD 24.51 Bn
Growth rate CAGR
CAGR of 4.01% from 2023 to 2031
Quantitative units
Representation of revenue in US$ Billion, Volume (KT) and CAGR from 2023 to 2031
Historic Year
2019 to 2022
Forecast Year
2023-2031
Report coverage
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Segments covered
Fiber Reinforcement, Resin Type, Form, Manufacturing Process and Application
Regional scope
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia
Market Dynamics:
Drivers-
Rising plasticizer demand will support market expansion. The need for plasticizers for various uses in residential, commercial, and industrial structures is driving the rapid growth of this market. Superplasticizers and regular plasticizers are typically formed of calcium, ammonium lignosulphonates, and sodium. They offer excellent strength, longevity, and a strong bond between steel and concrete, making them perfect for reducing the amount of water that concrete absorbs. Also, the workability of concrete is a crucial property that gets better with the addition of water; however, if more water is added, the strength and durability of the concrete are maintained. The amount of plasticizers used in concrete production increases as a result.
Challenges:
The prime challenge is the need for more awareness and commercialization regarding bio-based products in developing countries, which is predicted to reduce the growth of the concrete Admixtures Market. However, the high cost of green chemicals and the availability of synthetic chemicals are factors expected to hamper the overall growth of the concrete Admixtures Market over the coming years. Owing to the COVID-19 pandemic, the number of cases has been increasing, which led to a global or partial shutdown to maintain social distancing. According to a recent update, the industries are facing unprecedented economic losses due to disruptions in global supply chains for key players operating in the global concrete Admixtures Market. Distributors, suppliers and retailers have inventory but can’t sell, and manufacturers must stop production from dealing with the shutdown.
Regional Trends:
The Asia Pacific concrete admixtures market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. The Asia Pacific region has experienced significant growth in construction activities, driven by rapid urbanization, industrialization, and infrastructure development. This has led to a growing demand for concrete admixtures, which enhance concrete structures’ strength, durability, and workability. The Asia Pacific region has a growing population, driving demand for new residential and commercial construction projects. This is further contributing to the demand for concrete admixtures in the region. The Asia Pacific region is experiencing rapid urbanization, leading to the development of new cities and the expansion of existing ones. This is driving demand for new construction projects, which in turn is fueling the growth of the concrete admixtures market in the region.
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Segmentation of Concrete Admixtures Market-
By Product-
Water Reducing Admixtures
Superplasticizers
Plasticizers
Waterproofing Admixtures
Accelerating Admixtures
Air-Entraining Agents
Retarding Admixtures
Other Admixtures
By Region-
North America-
The US
Canada
Mexico
Europe-
Germany
The UK
France
Italy
Spain
Rest of Europe
Asia-Pacific-
China
Japan
India
South Korea
South East Asia
Rest of Asia Pacific
Latin America-
Brazil
Argentina
Rest of Latin America
Middle East & Africa-
GCC Countries
South Africa
Rest of the Middle East and Africa
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