ID: MRFR/CnM/1462-HCR | January 2023 | Region: Global | 136 Pages
Concrete Admixtures Market is projected to be worth USD 31.55 billion by 2030, registering a CAGR of 5.60% during the forecast period (2022 - 2030)
$31.55 billion
5.60%
North America
2022-2030
The concrete admixtures market size was USD 20.15 billion in 2021. The market is further expected to grow at a CAGR of 5.60% in the forecast period of 2022-2030 to attain a value of around USD 31.55 billion by 2030. Concrete Admixtures are manufactured or natural chemicals added during the mixing of concrete to enhance certain specific properties of the hardened or fresh concrete. These properties uplift the workability, early as well as final strength and durability of the concrete. Along with that, it adds chemical stability and causes water reduction in the mix. The admixtures for concrete provide protection from corrosion and also prevent cracking or shrinking. Moreover, the admixtures not only benefit in water reduction but also aids in slowing down the setting rate of concrete. Thus, it reduces the overload of workers while constructing the structures.
The main functions of these admixtures are that they are plasticizers, air entrainers, best for waterproofing, accelerators as well as retarders. As a plasticizer, the concrete admixtures provide immense workability by reducing water content, and as air entrainers, it allows air bubbles in cement paste while mixing to elevate its resistance to freezing or thawing. In addition, accelerators and retarders admixtures reduce the time for the concrete mix to set. The waterproofing admixtures have the ability to absorb not only water but also waterborne contaminants as it is porous. All these beneficial features of admixtures are boosting the global concrete admixtures market demand.
Over the years, the rising demand for infrastructure in developing nations has escalated the need for the concrete admixtures market. Moreover, the increase in income of the middle class and rapid urbanization has created a demand for residential and industrial construction to a whole new level. Thus, this higher requirements of people and inclination for better construction has propelled the global concrete admixtures market growth. Even the government policies for better infrastructure standards and required reduction in water usage during construction are certain concerns that can be resolved by the effective usage of admixtures.
The report focuses on the in-depth analysis of the concrete admixtures market structure along with the overall growth aspects of the market. Along with that, it includes the impact of COVID19 on the market. It describes the several factors of the market, including opportunities and restraints related to its market growth. Different segments of the market and the players progressing the market are also mentioned. Analysis of several geographies is also included in the report. As the demand for the global concrete admixtures market is surging at a rapid pace, the market valuation and growth is expected to have a substantial rise during the forecast period from 2022-2030.
COVID19 Analysis
The sudden surge of the COVID19 pandemic has critically impacted the entire world in terms of health and economy. The growth rate of the economy stooped down to lower rates, and globally, people faced heavy financial losses. Due to the lockdown restrictions, industrial operations and manufacturing units were restricted. The supply chain was highly disturbed by the pandemic, and the gap between supply-demand kept widening. Many projects got postponed for an indefinite time period, and all these have affected the global concrete admixtures market. In the pandemic, there was a decrease in construction activities, and the consumption pattern was reshaped, which affected the expansion of concrete admixtures market size.
However, the demand for better infrastructure and the growing pace of urbanization will boost the growth of the global concrete admixtures market. The continuous effort of market players in providing better products and increased R&D is helping to make the growth of the market stable again. In the post-pandemic phase, the demand for the concrete admixtures will rise to a greater extent resulting in the progression of the market.
Market Dynamics
In recent times, the developing economies are demanding better infrastructures more and more, which is a prominent driving force of the global concrete admixtures market growth. It is true that the admixtures have become a necessary application in both commercial and residential buildings. Almost around 75 percent of commercial buildings select admixtures for concrete to avoid leveraging maintenance cost. The newly developed standards for constructions ad building codes are also prompting the potential of the market. Increased income of the middle class and rapid urbanization in today’s day and age will be the factors for fuelling the growth of the market in the near future.
The government policies for enhanced infrastructure standards are also responsible for growing the demand for concrete admixtures. The ability of admixtures to handle rigorous environmental conditions is raising the global concrete admixtures market demand to optimum levels.
With the advantageous features of the admixtures like protection from corrosion, durability, workability, and many more, the demand for the concrete admixtures market is escalating. The rising need for a reduction in water usage during the time of construction is a major concern that can be easily addressed by the effective utilization of admixtures. This results in creating opportunities for the global concrete admixtures market growth.
The efficient application practice of concrete admixtures and the inception of innovative technologies are also expected to raise the demand of the global concrete admixtures market. In addition, the increased research and new developments by the market players will evolve the concrete admixture application in the upcoming years.
The global concrete admixtures market was highly affected by the outbreak of the coronavirus pandemic. In the lockdown, industrial operations and production processes were put at a halt. Several projects were delayed for an uncertain time. However, the efforts of the market players and the demand for infrastructure have helped in restoring the concrete admixture market value.
Although the global concrete admixtures market has numerous opportunities to progress, there are certain challenges that can hamper growth. The less resistance to sulfate attack and the higher cost of the admixtures may be the reason for restricting the expansion of concrete admixtures market size.
As the demand of the concrete admixture market is emerging at a faster rate, it is expected that the market value will surpass all the previous historical growth. In the coming years, the market can reach its maximum momentum as the market players are finding new solutions to tackle the limitations. The elevating development will take the market growth to stupendous heights in the forecast period.
Segment Overview
The global concrete admixtures market is bifurcated into certain segments based on application, function, and region.
Regional Analysis
The concrete admixtures market is studied on different geographies such as North America, Asia-Pacific, Europe, and the remaining parts of the world. According to the analysis, the Asia-Pacific region is having major global concrete admixtures market share and is leading both in terms of volume and value. The developing economies like Brazil, India, and China are demanding for increased admixtures to bloom the civil structures. Policy changes in FDI and the rising demand for residences due to the growing population will also help in the growth of the market in forecast years. Europe and North America will have slow growth due to the saturation in the construction industry.
Competitive Landscape
The prominent key players of the global concrete admixture companies are:
Recent Developments
Report Overview
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: USD 31.55 billion |
CAGR | 5.60% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019-2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Function, By Application and By Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | The Dow Chemical Company, BASF SE, Sika AG, W.R. Grace & Co, Pidilite Industries, RPM International, CICO Technologies Ltd, Ashland Inc, Chryso SAS, Fosroc International |
Key Market Opportunities | Properties of concrete enhances strength, durability and with admixture adds chemical stability with reduction in water usage. |
Key Market Drivers | Factors like developing economies, rapid urbanization, increasing middle-class income are going to inspire growth for the concrete admixtures market. |
Concrete admixtures market is projected to hit USD 31.55 billion by 2030
The Asia-Pacific region has the maximum growth in the global concrete admixtures market and is expected to grow rapidly in the forecast years.
The Dow Chemical Company, BASF SE, Sika AG, W.R. Grace & Co, Pidilite Industries, RPM International, CICO Technologies Ltd, Ashland Inc, Chryso SAS, Fosroc International
The global concrete admixtures market is rising due to its properties like chemical stability, strength, durability, and workability.
The global concrete admixtures market is skyrocketing due to rapid urbanization, infrastructure need of developing economies, and increasing income of the middle-class.
The countries like Brazil, India, and China are quite notable regions in the consumption of the concrete admixture market.