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Concrete Admixtures Market Growth Analysis | 2023-2028
Concrete Admixtures Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
"The concrete admixtures market is likely to grow at a CAGR of 4.5% during 2023-2028 to reach an estimated value of USD 7.4 billion in 2028."
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Concrete admixtures are chemical or mineral substances that are added to the concrete during the mixing process to modify its properties. These admixtures are used to enhance the performance, efficiency, workability, durability, and aesthetic characteristics of concrete.
COVID-19 Impact
During the COVID pandemic, several countries implemented lockdowns and restrictions on construction activities to contain the spread of the virus. This led to delays in construction projects, including infrastructure, residential, and commercial buildings. Moreover, the construction industry witnessed a disruption in its entire supply chain. As a result, there was a drop in the total demand for concrete admixtures, which ultimately resulted in a decline of over 2% in the global market in 2020.
Post-pandemic, primarily driven by the large demand in the construction industry, the concrete admixtures market recorded substantial growth during 2020-2021 and 2021-2022, marking the industry’s recovery. It is also expected that the market would witness a reasonable growth in the upcoming years. Moreover, concrete admixtures can contribute to sustainability by reducing cement content, enabling the use of eco-friendly materials, and improving the energy efficiency of concrete production. As sustainability becomes a priority, the demand for concrete admixtures that promote environmental friendliness is also likely to witness a boost.
As the industry focuses on improving construction practices, reducing environmental impacts, and achieving higher performance standards, there has been a growing demand for concrete admixtures to optimize construction processes and achieve desired performance goals. Through the incorporation of admixtures into concrete mixes, contractors can achieve higher performance levels, leading to better-quality structures.
This improvement in performance can drive growth by attracting more projects and ensuring customer satisfaction. Overall, concrete admixtures contribute to growth in the construction industry by enhancing concrete performance, increasing efficiency and productivity, supporting sustainable construction practices, meeting specific project requirements, and driving market expansion through innovation.
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Recent Market JVs and Acquisitions:
There have been some major mergers and acquisitions in the industry in recent years, which have significantly influenced the market dynamics in the construction industry. For example:
|
Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
|
Product-Type Analysis |
Plasticizers, Superplasticizers, Accelerating and Retarding Admixtures, Air-Entraining Admixtures, Water-Resistant Admixtures, Mortar Admixtures, Concrete Fibers, and Others |
Plasticizer is anticipated to remain the leading chemical, whereas concrete fiber is likely to witness the fastest growth in the years to come. |
|
End-Use Type |
Residential Structures, Non-Residential Structures, and Infrastructures |
Infrastructure are expected to be the dominant segment, whereas residential structure is likely to witness the fastest growth during the forecast period. |
|
Application Type |
New Construction and Renovation |
Renovation is likely to generate larger market demand, whereas new construction is expected to witness faster growth in the foreseen years. |
|
Regional Analysis |
North America, Europe, Asia-Pacific, and The Rest of the World |
Asia Pacific is expected to be the dominant market and the fastest-growing market in the next five years. |
"The plasticizers segment accounted for the largest market share."
The market is segmented into plasticizers, superplasticizers, accelerating and retarding admixtures, air-entraining admixtures, water-resistant admixtures, mortar admixtures, concrete fibers, and others. Plasticizers are expected to remain the largest chemical category during the forecast period. They are low-cost admixtures and are widely preferred across the regions owing to their increasing demand for imparting improved workability, enhanced strength, durability, and segregation resistance to the concrete.
"The infrastructures segment accounted for the largest market share."
The market is segmented into residential structures, non-residential structures, and infrastructures. Infrastructure is expected to remain the dominant end-use type in the market during the forecast period. This is primarily driven by the increasing infrastructure development activities of developing countries, mainly in the Asia-Pacific and the Middle East regions. Concrete admixtures are used in various areas of infrastructure, such as bridges, roads, dams, tunnels, water reservoirs, sewage and water treatment plants, and subway systems, among others.
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"The renovation segment accounted for the largest market share."
The market is segmented into new construction and renovation. Renovation is likely to be the bigger demand generator during the forecast period. There has been an increasing demand for construction chemicals for renovations, including the repair of existing structures, especially in the developed economies such as the USA, Germany, and Japan. Most of the spending related to construction chemicals in these economies are related to renovation purposes only. Renovation projects help promote sustainability by reducing the need for new construction and minimizing waste.
"Asia-Pacific accounted for the largest market share."
Asia-Pacific is expected to remain the largest market for concrete admixtures during the forecast period. Some of the key Asian countries contributing to the growth of the market include China, India, Japan, South Korea, and Southeast Asian nations such as Vietnam, Indonesia, and Thailand. These countries have been investing heavily in infrastructure projects such as roads, bridges, railways, airports, and residential and commercial buildings, creating a significant demand for concrete admixtures. Concurrently, key economies such as India and China are incessantly experiencing rapid economic growth, which simultaneously increases regional disposable incomes and construction activities. In addition, there has been an increasing emphasis on sustainable construction practices in the Asia Pacific region over the years, due to which the regional concrete admixture manufacturers are developing environmentally friendly and energy-efficient product types driven by the need to reduce the carbon footprint in the construction industry. This is simultaneously boosting the regional market for concrete admixtures.
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The market for concrete admixtures is highly populated. The market is competitive with the presence of several regional and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc.
The following are the key players in the concrete admixtures market:
Note: The above list does not necessarily include all the top players in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s concrete admixtures market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The concrete admixtures market is segmented into the following categories.
By Product Type
By End-Use Type
By Application Type
By Region
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Company Profiling
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Concrete admixtures are chemical or mineral substances that are added to the concrete during the mixing process to modify its properties. These admixtures are used to enhance the performance, efficiency, workability, durability, and aesthetic characteristics of concrete.
The concrete admixtures market is likely to reach an estimated value of USD 7.4 billion in 2028.
The concrete admixtures market is estimated to grow at a CAGR of 4.5% in the coming five years.
MBCC Group, Sika AG, Compagnie de Saint-Gobain S.A., CEMEX, S.A.B. de C.V., MAPEI S.p.A., Fosroc International Ltd., The Euclid Chemical Company, Penetron, RussTech, Inc., and Chembond Chemicals Ltd. are the key players in the market. The global market is highly populated.
Asia-Pacific is estimated to be dominant in the market in the coming years. The high demand for concrete admixtures in Asia is primarily driven by the increasing infrastructure development, urbanization, and industrialization.
Asia-Pacific is estimated to witness the fastest growth in the market in the coming years as a result of the ongoing infrastructure development projects in the region, such as roads, bridges, railways, airports, and housing, along with the crucial role played by governments and private sector investments in the construction sector in various countries.
Plasticizers are estimated to comprise the dominant product type in the concrete admixtures market in the coming years. These admixtures generate a large demand as they aid in the reduction of the water content in concrete while maintaining its workability and enabling improved flowability, increased strength, and reduced permeability of the concrete.
Key factors driving the growth of the market are the growing focus on sustainable construction coupled with the growing demand for residential, commercial, and infrastructure projects across the globe. In recent years, there has also been an increasing demand for high-performance concrete solutions, which has strongly fueled market growth.
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