Concrete Admixtures Market Size to Reach USD 31.44 Billion by 2028 | Exclusive Report by Fortune Business Insights™
Fortune Business Insights
8 min read
The global Concrete Admixtures Market covered major segments By Type (Water reducing Admixtures, Accelerating Admixtures, Water Proofing Admixtures, Retarding Admixtures, Air Entraining Admixtures, and Others), By Application (Residential, Infrastructure, Commercial, and Industrial) and Regional Forecast, 2023-2028.
Concrete Admixtures Market Size
Concrete Admixtures Market
Pune, India, Nov. 15, 2023 (GLOBE NEWSWIRE) -- According to a report titled "Concrete Admixtures Market Size, Share, Trends, and Report Analysis, 2023-2028" by Fortune Business Insights™, the market is anticipated to exhibit substantial growth. It is projected to increase from USD 18.09 billion in 2021 to a remarkable USD 31.44 billion by 2028, representing a robust CAGR of 8.2% throughout the period 2023 to 2028. The global concrete admixtures industry size was USD 18.05 billion in 2020.
Concrete admixtures are additives, whether synthetic or derived from natural sources, that are incorporated into the concrete mixing process. These admixtures are primarily employed to enhance the durability, workability, compressive strength, resistance to erosion and oxidation, as well as the overall aesthetic qualities of constructed structures. With the construction industry experiencing rapid growth, there is a heightened anticipation of increased concrete usage, consequently driving the demand for these products. This, in turn, is poised to significantly bolster the growth of the concrete admixtures market during the forecast period.
Leading Players Featured in the Concrete Admixtures Market Research Report:
Buildtech Products (India)
Sika AG (Switzerland)
RAZON ENGINEERING COMPANY PRIVATE LIMITED (India)
Flowcrete Group Ltd. (India)
MBCC Group (Germany)
BASF SE (Germany)
GCP Applied Technologies (U.S.)
RPM International Inc (U.S.)
Fosroc International Inc (U.K.)
Mapei S.P.A (Italy)
CICO Technologies Ltd (India)
CHRYSO S.A.S (France)
Competitive Landscape:
Key Players Use Crucial Tactics to Stimulate Business Development in Construction Industry
Key players in the market include BASF SE, MBCC Group, and Sika AG. These companies are actively involved in expanding their market presence through strategies such as product development and partnerships.
For example, BASF SE is a global chemical manufacturer with a dedicated materials and solutions business segment that offers a range of concrete admixture-based products to its customers. The company is also heavily engaged in research and development activities, acquisitions, facility expansion, and product innovation to meet the increasing demand for concrete admixtures from its clients.
Report Scope & Segmentation:
Report Coverage
Details
Forecast Period
2021-2028
Forecast CAGR
8.2%
2028 Value Projection
USD 31.44 Billion
Market Size in 2021
USD 18.09 Billion
Historical Data
2017-2019
No. of Pages
280
Report Coverage
Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
By Type Analysis
By Application Analysis
Regions Covered
North America
Europe
Asia Pacific
South America
Middle East and Africa
Global Concrete Admixtures Market Growth Drivers
Rapid Developments in Construction Industry to Stimulate Market Growth
Asia Pacific held the maximum concrete admixtures market share and was worth USD 11.41 billion in 2020
Browse Detailed Summary of Research Report with TOC:
On the basis of type, the market is segregated into water-reducing admixtures, accelerating admixtures, waterproofing admixtures, retarding admixtures, air-entraining admixtures, and others.
By application, the market is classified into residential, infrastructure, commercial, and industrial. The residential segment holds the maximum market share in the global market. The growing disposable income of the consumer combined with the rising trend of small or nuclear families has occasioned an elevated demand for residential houses and facilities.
Report Coverage
Our research methodology employs a rigorous approach, combining both bottom-up and top-down methods to ensure accuracy. Our analysts have conducted thorough primary research to validate the market size projections. To accurately represent market shares across various segments at national, regional, and global levels, we have gathered data through extensive discussions with numerous stakeholders. Furthermore, our experts have sourced information from reputable databases, industry journals, SEC filings, and other relevant sources to enhance the robustness of our research.
Market Drivers:
Rapid Urbanization and Infrastructure Development: The ongoing global trend of urbanization and the need for modern infrastructure projects have significantly increased the demand for concrete admixtures. These additives enhance the performance and durability of concrete structures, making them vital for large-scale construction projects.
Sustainability and Environmental Concerns: Concrete admixtures that reduce the carbon footprint of concrete production are gaining popularity. These eco-friendly admixtures not only promote sustainability but also comply with stringent environmental regulations, driving their adoption.
Technological Advancements: Ongoing research and development in the concrete admixtures sector have led to innovative products with improved performance characteristics. This technological progress is attracting the interest of construction companies looking to build stronger, more resilient structures.
Cost Efficiency: Concrete admixtures can improve the workability and set times of concrete, reducing labor and construction costs. This cost-efficiency is an attractive feature for construction companies and contractors.
Increased Awareness and Education: As knowledge about the benefits of using concrete admixtures grows, there is a rising awareness among architects, engineers, and builders. This leads to an increased adoption of these additives in construction projects.
Market Restraints:
High Initial Investment: The manufacturing and development of advanced concrete admixtures often require substantial investments in research, equipment, and technology. This financial barrier may deter potential market entrants.
Limited Consumer Awareness: While awareness of concrete admixtures is growing, it still lags behind other construction materials. Many builders and contractors may not be fully aware of the potential benefits, hindering their widespread adoption.
Variability in Raw Material Costs: The prices of raw materials used in concrete admixtures can be volatile. Fluctuations in these costs can impact the overall production cost and, in turn, product pricing and market competitiveness.
Regional Analysis:
The North American concrete admixtures market is mature and highly regulated, with a strong focus on sustainability and environmental impact. Water-reducing admixtures are in high demand due to the need for workability and durability, particularly in the United States and Canada. The growing trend of using self-consolidating concrete (SCC) has increased the demand for superplasticizers in this region. There is also a focus on specialty admixtures like air-entraining agents to enhance freeze-thaw resistance.
Europe places a strong emphasis on sustainability and environmental regulations, leading to a growing demand for eco-friendly admixtures, such as fly ash, slag, and silica fume. High-performance concrete admixtures, including viscosity-modifying agents and corrosion inhibitors, are widely used for infrastructure projects. The market is also witnessing a shift towards self-healing concrete, which may require unique admixtures to promote autogenous crack repair.
Asia-Pacific region is a dynamic and rapidly growing market for concrete admixtures, primarily driven by extensive construction and infrastructure projects. This remarkable growth was fueled by rapid infrastructure development and a rising need for affordable housing solutions among the local population. Notably, China, within the Asia-Pacific region, claimed the largest market share and stood out as the fastest-growing nation in this sector.
Middle East and North American regions experience extreme weather conditions and, thus, have a strong demand for admixtures that enhance concrete's resistance to high temperatures and chemical exposure. Superplasticizers and air-entraining agents are widely used to address the harsh environmental conditions in these areas. Infrastructure development, including mega-projects like airports, stadiums, and transportation networks, drives the demand for high-performance concrete admixtures.
Latin America's construction industry varies by country, with some regions experiencing substantial growth while others face economic challenges. The use of concrete admixtures depends on factors such as available resources, local regulations, and infrastructure development. Water-reducing admixtures and plasticizers are commonly used to improve workability and strength in the construction industry.
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