PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485873
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485873
Concrete Admixture Market size was valued at USD 19,258.2 Million in 2023, expanding at a CAGR of 7.20% from 2024 to 2032.
Concrete admixtures are additive combinations used in the construction of various types of concrete, such as pre-cast concrete, sprayed concrete, and ultra-high performance concrete, to improve structural properties like durability, strength, modular ratio, and unit weight. These properties can be achieved with a range of admixtures, including water-reducing, accelerating, waterproofing, retarding, and air-entraining admixtures.
Concrete Admixture Market- Market Dynamics
Rapid Expansion of the Construction Sector in Emerging Areas Boosts the Demand for the Concrete Admixture Market
The primary factor contributing to the increase in market revenue is the growing construction industry, which shows promising growth potential in the developing area. The construction industry has a high demand for concrete admixtures because they enhance the workability and quality of concrete, as well as regulate the hardening process to meet specific objectives. For instance, set-retarding concrete additives are used to postpone the chemical process that takes place when concrete begins to harden. These concrete additives are commonly used to mitigate the impact of elevated temperatures that may cause the concrete to set at a quicker pace initially. Retardant additives are used in the construction of concrete sidewalks to prevent cold joints, extend the time for finishing the concrete, and lower the costs of constructing a new batch plant, which helps drive market expansion.
Concrete Admixture Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.20% over the forecast period (2024-2032)
Based on type segmentation, the superplasticizers sector generated the highest proportion of revenue.
Based on application segmentation, the Residential segment was predicted to show maximum market share in the year 2023
On the basis of region, Asia Pacific had the biggest market share in 2023
The Global Concrete Admixture Market is segmented on the basis of Product Type, Application, Distribution, and Region.
The market is divided into three categories based on type: Superplasticizers, Normal Plasticizers, Accelerating Admixtures, Retarding Admixtures, Air-entraining Admixtures, Waterproofing Admixtures and Others. In 2023, the superplasticizers segment accounted for the greatest revenue share. Superplasticizers are mainly utilized to create flowing concrete with a high slump of seven to nine inches, which is then applied in heavily reinforced constructions and areas where proper consolidation through vibration is challenging, leading to increased earnings in the sector. Another significant use of superplasticizers is in producing high-strength concrete with water-to-cement ratios ranging from 0.3 to 0.4. It has been demonstrated to enhance the manageability of concrete for most cement varieties.
The market is divided into two categories based on application: residential, Commercial, And Infrastructure. The residential sector had the largest market share globally. The surge in population and growing demand for single-family homes are fueling the rise in residential construction. This is expected to have a positive effect on the need for concrete admixtures in residential projects throughout the predicted time frame.
Concrete Admixture Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Asia Pacific had the largest market share. The rise in the building and construction sector in this area is leading to a higher demand for concrete admixtures, including for new construction and renovation projects. Increased infrastructure spending is fueled by growth in industrial activities, especially in China and India, propelling the construction sector and boosting demand for products.
North America and Europe are witnessing rapid growth in the worldwide market. High financing rates and growing building costs have hampered new commercial construction in certain regions. However, the market in North America and Europe is likely to expand as household formations rise and housing markets strengthen. Government initiatives to assist the building and construction sectors, as well as client demand for larger homes, are propelling regional market expansion.
The Concrete Admixtures market is characterized by the presence of competitors at the global, regional, and local levels. In the market, competitors are all aiming to obtain a large portion of the market share, leading to high consolidation. The primary rivals in the Concrete Admixtures industry vie for supremacy through pricing, quality of products, availability of raw materials, and durability of products. They are increasing their production capacity and putting resources into research and development activities in order to gain a competitive edge. In addition, the increasing utilization of Concrete Admixtures in housing structures is expected to offer lucrative opportunities for producers in the coming years. Nonetheless, the shortage of raw materials is expected to hinder the growth of the market under investigation greatly.
In November 2023, Sika AG announced that the company has increased its concrete admixture capacity in the United States. The corporation is still investing in polymer production at its Sealy plant in Texas. Sika's recent venture is the company's second polymer investment in Texas in just five years. Polymers are required by the company for chemical building blocks used in the production of Sika ViscoCrete, a high-performance, resource-saving concrete additive. The corporation started its expansion to accommodate the rising demand for its products in the United States and Canada.
In June 2023, Fosroc India will launch a cutting-edge Concrete Lab in Chennai. The lab will offer advanced building material testing services to developers, contractors, and other construction professionals.
GLOBAL CONCRETE ADMIXTURE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Sika AG (Switzerland)
Saint-Gobain S.A. (France)
Mapei S.p.A. (Italy)
Fosroc, Inc. (UAE)
RPM International Inc. (US)
Xype Chemical Corporation (Canada)
Others