ID: MRFR/CnM/1015-CR | 196 Pages | Author: Anshula Mandaokar | February 2021
Cement and Concrete Additives Market Is Exhibiting a solid 8.16% CAGR, the market is expected to rise to a valuation of USD 32,706.5 million by the end of the forecast period (2022-2030)
The cement and concrete additives market is projected to register a CAGR of 8.16% from 2022 to 2030. Substances of cement and concrete, also known as additives, are added to the current composition of cement and concrete materials to improve the performance attributes (such as strength, durability, color, erosion properties, and others). The cement and concrete additives market size is expected to reach approximately USD 32,706.5 million by 2030. The attributes of cement and concrete that these additives also improve include high tensile strength, hardness, hardening time, toughness, response to air and water, integrity after hardening, and others. The primary purpose of adding these cement and concrete additives to the cement and concrete mixture is to increase the stability and lifetime of each created building.
COVID-19 Impact Analysis
The world's economic, social, vertical, and political dynamics have all changed due to the COVID-19 epidemic. During the pandemic, the Cement and Concrete Additives Market suffered because most raw materials produced and imported from China took off from the front seat. The sector collapsed due to a labor shortage due to construction projects being put on hold. Despite the preventive precautions to combat COVID-19 and maintain a work-life balance, many industries are expected to resume regular tasks and activities.
Cement and Concrete Additives Market Dynamics
The market is expanding primarily due to rising industrialization and a booming housing market. The need for smart materials utilized in these construction projects is growing as new construction projects, and cutting-edge technologies are developed in the modern world. The cement and concrete market is expanding thanks to future-proof and clever developments in the construction sector.
Due to their outstanding qualities, such as strength augmentation, grinding, water reduction, retarders, waterproofing, and other features, cement, and concrete additives are in high demand for commercial building and construction applications. Due to increasing investments in commercial construction projects, development plans for commercial spaces, and urbanization, the commercial building and construction industry is expanding quickly. For instance, the CBRE Group anticipates growth in office space of between 10 and 15% until 2023. The Airport Authority of India (A.A.I.) reports that the announcement to build 100 more airports by 2024 was made in 2020.
Price increases for cement and concrete additives is driven by several variables, including the cost of raw materials, supply chain disruptions, increased manufacturing technology expenditures, and freight expenses. For instance, GCP announced in November 2021 that the price rise for concrete admixtures had been implemented throughout North America. Starting on January 1, 2022, the company raised the pricing for all concrete admixtures by 10%. As a result, the demand for concrete and cement admixtures is slowing down and facing significant obstacles due to the price increase.
Due to their superior qualities, such as strength-enhancement, chemical resistance, and waterproofing, cement and concrete additives such as fly ash, silica fume, set retarders, rice husk ash, and others are used for application in the infrastructure sector for highways, bridges, dams, and other structures. Due to reasons like increased foreign investment, industrialization, and government initiatives for infrastructure development, the infrastructural industry is expanding quickly. For instance, the Alberta Government reports that between 2020 and 21, around US$1.16 billion was committed to infrastructure construction in 172 projects
Cement and concrete additives Market Segmentation
The cement and concrete additives market segmentation is based on type, chemical, mineral, and fiber additives. The cement and concrete additives market growth was prominently high under the chemical additives category in 2021. Due to their superior setting time, strength enhancement, and good water reduction content, chemical additives such as plasticizers, retarders, water-reducers, coloring agents, and others are growing faster than other types. The rise in the application of water-reducing additives, high-value plasticizers, and others in significant quantities for construction activities is fueling the need for chemical additives. However, mineral additives are anticipated to be the fastest growing in the coming years. Fly ash, silica slag, and rice husk ash are examples of minerals. The demand for mineral additives is anticipated to rise due to increased efforts to maximize the use of industrial waste products like fly ash and blast furnace slag.
By application, the cement and concrete additives market segmentation is residential construction, commercial construction, and industrial. In 2021, residential construction was anticipated to hold a prominent market share. Due to their superior binding properties, chemical resistance, waterproofing, and strength-enhancement, cement & concrete additives or admixtures like rice husk ash, fly ash, silica fume, polypropylene, gypsum, and others are finding increasing use in residential buildings, apartments, houses, and other structures. For instance, according to the Economic Times Housing Finance Summit, an extra 25 million affordable housing units are needed by 2030. Privately owned housing units granted by building permits in November were at a seasonally adjusted annual rate of 1,639,000, up 6.2% from the previous year, according to the census of the United States in November 2020. However, the commercial construction category is the fastest growth during the forecast period due to the increase in urbanization.
Global Cement and Concrete Additives Market Share, by Region, 2021 (%)Cement and Concrete Additives Market Overview, by Region
By region, the cement and concrete additives market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. North America will exhibit the highest CAGR during the forecast period.
Asia-Pacific dominated the market share in 2021. Massive expansions in building and construction, infrastructure developments, and fast urbanization all positively impact the region's flourishing growth potential for cement and concrete additives. The lucrative expansion of the construction industry in APAC is a result of factors like urbanization, increased investments in infrastructure projects, and smart and green construction programs. For example, the National Investment Promotion & Facilitation Agency projects that the Indian construction market will reach US$ 1.4 trillion by 2025. Additionally, the Australian government stated in May 2021 that the Federal Budget would include an investment of US$11.3 billion for infrastructure projects. The International Trade Administration (I.T.A.) projects that China's construction industry has expanded between 2022 and 2030 at an average annual rate of 8.6%. The application of cement & concrete additives or admixtures like fly ash, rice husk ash, gypsum, silica fume, and others is expanding in APAC due to the rise in building & construction activities, which is expected to increase the region's growth potential in the market throughout the forecast period.
North America accounted for the second-largest market share in 2021. Growing demand for cement in developed nations, the U.S., and Canada due to renovation and infrastructure upkeep is also anticipated to substantially impact the worldwide business's growth.
Cement and concrete additives Market Competitive Landscape
The market includes tier-1, tier-2, and local players. The participants are focusing their efforts on promoting R&D. Additionally, they support strategic expansion activities, including product introduction, joint ventures, and partnerships to expand their client base and boost their market position.
Prominent players in the cement and concrete additives market include GCP Applied Technologies Inc. (U.S.), Concrete Additives & Chemicals Pvt. Ltd., Lafarge Cement Australia Holdings Pty Ltd., Yara International A.S.A. (Norway), Birla Corporation Sika AG, Elkem A.S.A. (Norway), Huntsman International L.L.C., CEMEX S.A.B. de C.V. (Mexico), Borregaard LignoTech (Norway), BASF SE, Fosroc Inc. (U.K.), Kao Corporation, Engro Corporation Limited, Cemented (Australia), LANXESS, Chevron Phillips Chemical Company, Oscrete Construction Products (Australia) among others.
Scope of the Cement and concrete additives Market Report
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Cement and concrete additives Market Forecast & Size:
To identify and estimate the market size for the cement and concrete additives market report segmented by type and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers of cement and concrete additives market forecast between 2022 and 2030
Market Landscape and Trends:
To identify the cement and concrete additives market growth and infer the drivers, restraints, opportunities, and challenges.
Market Influencing Factors:
To find out the factors which are affecting the cement and concrete additives market size
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||2030: USD 32,706.5 million|
|CAGR||8.16% CAGR (2022-2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Concrete Additives & Chemicals Pvt. Ltd., Lafarge Cement Australia Holdings Pty Ltd., GCP Applied Technologies Inc. (U.S.), Yara International ASA (Norway), Birla Corporation, Sika AG, Elkem ASA (Norway), Huntsman International LLC, CEMEX S.A.B. de C.V. (Mexico), Borregaard LignoTech (Norway), BASF SE, Fosroc Inc. (U.K.), Kao Corporation, Engro Corporation Limited, Cemented (Australia), LANXESS, Chevron Phillips Chemical Company, Oscrete Construction Products (Australia) among others|
|Key Market Opportunities||Increasing in infrastructural activities|
|Key Market Drivers||An increase in the construction industry|
The cement and concrete additives market forecast period is 2022 - 2030
The market is expected to register a CAGR of ~8.16% over the next 10 years, according to the cement and concrete additives market research.
North America is expected to register the highest CAGR during 2022 - 2030
Asia Pacific held the largest share in 2021
The market size is expected to be USD 32,706.5 million by 2030.
Concrete Additives & Chemicals Pvt. Ltd., Lafarge Cement Australia Holdings Pty Ltd., GCP Applied Technologies Inc. (U.S.), and Yara International ASA (Norway are the major companies operating in the market.
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