Market Research Future published a raw research report Global Construction Additives Market that contains the information from 2017 to 2023. The Global Construction Additives Market is expected to grow at a 7% CAGR from 2017 to 2023.
Global construction additives market has witnessed gradual growth in recent years but is expected to witness steady growth in the forecast period. The global construction additives market is primarily driven due to rapid growth of the construction industry with high demand for high strength concrete. Construction additives chemicals, minerals and fibers are blended into cement to alter its performance. Additives provide specific benefits for different jobs. Liquid additives used during cement grinding, improve the strength of the cement. Concrete bonding additive bonds old concrete to new for interior and exterior jobs such as wall capping and resurfacing.
The construction industry is evolving continuously as huge differences are witnessed between the structures built today and the ones built over a decade ago. Changing lifestyles, rapid urbanization, and the demand for enhanced aesthetics for residential, commercial, and infrastructure, have forced architects and engineers to innovate the design of concrete structures suited for various applications. On the flipside, tight project completion deadlines and the increasing variable costs of construction present a challenge for efficient execution of the construction projects. Construction additives offer the benefits of high quality, increased efficiency, and better finishing. Lack of awareness regarding construction additive techniques and their benefits, along with unstable costs of raw materials, might restrain the demand for this type of construction technique.
Rapid growth in the construction sector is one of the major factors driving the construction additives market. High demand for residential and non-residential buildings has a significant impact on the demand for construction additives, as they are used in the flooring and walls of the buildings. Consumer preferences for improved and high-quality cement are expected to boost the overall product consumption rate in future as cement additives are helpful in increasing product strength, and are capable of providing waterproofing feature, enhanced chemical resistance, color, and high water reduction.
The construction industry has witnessed a significant change with the introduction of construction additives as they provide flexibility to designers to modify and enhance both, physical and chemical properties of concrete. This includes compressive strength, durability, surface finish, and resistance to withstand adverse climatic and working conditions as per design specifications/requirements without compromising the quality of the concrete structure. However, the rising emissions of toxic chemicals is expected to hamper the construction additives market growth in the future. The global construction additives market is expected to grow at a 7% CAGR during the forecast period.
Asia Pacific Construction Additives market is expected to grow at the highest CAGR
Currently, the Asia Pacific region is the largest consumer of construction additive products. China, U.S., and Germany are among the major markets of construction additives, globally. The Asia Pacific construction additives market is projected to register the highest CAGR during the forecast period. The rising number of infrastructural activities and the population in China, Japan, and Australia, drive the growth of the Asia Pacific construction additives market. Additionally, other emerging economies such as South Africa and countries in the Middle East and South America are experiencing high demand for residential and commercial constructions. The rapid urbanization in these countries demand faster and cheaper construction of buildings and facilities without compromising on quality. The rise in the number of government investments in infrastructural constructions, further boosts the growth potential of the construction additives market in these regions.
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The Key Players of global construction additives market are BASF SE (Germany), Sika Group (Switzerland), The Dow Chemical Co. (U.S.), W. R. Grace and Company (U.S.), RPM International Inc (U.S.), CHRYSO Group (France) Evonik Industries AG (Germany), Mapei S.p.A (Italy), Fosroc (U.K.) and Cico Group (India)
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction additives market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.