The global concrete surface retarders market is expected to witness a CAGR of around 4.5%, to reach at USD 90 million over the forecast period.
With the rapid expansion of residential as well as commercial construction sector, the concrete surface retarders market is anticipated to gain momentum in the coming years. Construction sector has experienced unprecedented growth from the past few years, which is attributed to the technological advancements in emerging economies such as China and India. Factors such as rapid urbanization coupled with demand for green buildings, contributes to the tremendous growth of the global concrete surface retarders market.
The global concrete surface retarders have been segmented into region-wise that includes North America, Europe, Asia-pacific, and Rest of the world (RoW). Amongst the region, Europe accounted for the largest share in the overall concrete surface retarders market followed by North America and Asia-Pacific, in 2017, which will continue with its dominance by 2023. This is attributed to the technological developments in residential buildings construction across countries such as Germany, the UK, Italy, and France, the concrete surface retarders market in these countries is projected to grow at a sustainable growth rate. Further, subsequent growth of public and private sector investments in infrastructural construction projects, is also projected to create lucrative opportunities in the overall concrete surface retarders market in the region. In terms of both value and volume, North America and Asia-Pacific regions are anticipated to exhibit sustainable growth rates over the forecast period. Rapid urbanizations coupled with robust investments in the commercial as well as residential constructions in the emerging economies such as China and India, have propelled the growth of concrete surface retarders market in Asia-Pacific region.
Key players include Sika AG (Switzerland), BASF SA (Germany), Mapei AS (Italy), CEMEX S.A.B. de C. V (Mexico), GCP Applied Technologies (US), The Euclid Chemical Company (US), W. R. Meadows (US), Fosroc (UAE), Parchem Construction Supplies, and RussTech, Inc.The global concrete surface retarders market is highly competitive with many players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include expansions & investments, acquisitions, new product developments, and agreements.
The global concrete surface retarders market has been segmented on the basis of material, type, and application.Further, material segment is classified into organic and inorganic agents. Type segment is further sub-segmented into water-based and solvent-based. Application segment is classified into residential and commertial.
Based on material, the market has been bifurcated into organic and inorganic agents. Organic agents accounted for the largest market share of around 60% in the overall concrete surface retarders market, which is also expected to exhibit sustainable growth rate over the forecast period. This is attributed to the broad application used in vertical and horizontal concrete surface retarders across the construction industry.
Based on type, the segment is further classified into water-based and solvent-based. Water-based segment accounted for the largest market share in 2017, which will continue with its position by the end of 2023. Water-based concrete surface retarders are gaining momentum across the globe, owing to the widespread use of water-based concrete surface retarders and their product advantages such as no presence of volatile organic compounds (VOCs) and biodegradability has garnered industry-wide attention.
Based on application, the segment is classified into residential and commercial. Commercial segment holds the largest market share in 2017, which will continue with its position by 2025. The segment is also anticipated to witness maximum growth rate in the market due to the high demand for concrete surface retarders mostly from the commercial construction activities. Rapid expansion of multi-national companies leads to the need for more office spaces which in turn results in increase in commercial construction activities, globally. Hence, commercial segment is projected to contribute significantly over the forecast period.
|Market Size||2023: USD 90 Million|
|CAGR||4.5% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Sika AG (Switzerland), BASF SA (Germany), Mapei AS (Italy), CEMEX S.A.B. de C. V (Mexico), GCP Applied Technologies (US), The Euclid Chemical Company (US), W. R. Meadows (US), Fosroc (UAE), Parchem Construction Supplies, and RussTech, Inc.|
|Key Market Opportunities||
|Key Market Drivers||Growth of public and private sector investments in infrastructural construction projects|
Frequently Asked Questions (FAQ) :
The valuation of concreter surface retarders market would be USD 90 million.
Concreter surface retarders market CAGR would be 4.5% during the forecast period.
Europe would dominate concreter surface retarders market.
Asia and China would drive the APAC concreter surface retarders market.
Rapid urbanization and increasing disposable income would trigger concreter surface retarders market growth in the APAC.