Concrete admixtures are either chemicals or additives that assist in modifying concrete’s physical properties. These are either available in the form of natural chemicals/additives or can be synthesized in laboratories. Depending on the type and quantity used, these admixtures can enhance properties such as workability, durability, strength, etc., and affect certain characteristics such as water reduction, variate setting time, and so on. Type of structure, weather, the specific need of functionality, sustainability, and others define the use of the product.
The global concrete admixtures market was valued at approximately USD 16 billion in 2019. Expanding at a compound annual growth rate of around 7%, the market is all set to reach an estimated valuation of over USD 22 billion by the end of 2026.
The pandemic has resulted in worldwide lockdowns. These lockdowns imposed, as a precautionary measure to reduce the proliferation of the novel coronavirus, have affected economies and industries across the globe. Disruption in logistics and transport as well as the temporary or permanent closures of industries have had a negative impact on the concrete admixtures market. Therefore, due to COVID-19, there has been a slight decline in the overall market growth.
The construction industry was adversely affected since the advent of the novel coronavirus pandemic. Global lockdowns, put in place to curb the spread of the virus, resulted in labor shortages, supply chain disruptions, and finally the halting of several activities. This created a significant decline in construction projects and therefore hindered the concrete admixtures market expansion.
The concrete admixtures market is directly reliant on the construction industry and thus, an increase in commercial and residential projects will drive the market towards growth. The increasing infrastructural activities are projected to further boost this market. The recovering construction sector is anticipated to steadily improve the concrete admixtures market growth.
Continuous R&D in developing materials and the growth in the construction sector in regions like the Middle East and Africa present numerous opportunities for the expansion the concrete admixtures market.
Classified under product type, the concrete admixtures market is segmented into – water reducing agents, waterproofing agents, accelerating agents, air-entraining agents, retarding agents and others. Among these, the water-reducing segments garnered for more than 40% of the global market in terms of revenue in 2019. Since, water-reducing agents, reduce the water content in concrete thereby offering high strength and improved performance, these are a preferred choice. Owing to its wide usage in numerous applications, this segmented dominated the global concrete admixtures market. Among water reducing agents, the superplasticizer is estimated to grow significantly due to its water-reducing, strength enhancement and plasticizing properties.
Since the product is used only within the construction industry, the concrete admixtures market is sub-divided into residential, commercial and infrastructure. The upsurge in population, migration into cities and rising trend of nuclear families is largely driving the progress of the residential sector. Moreover, the issue of insufficient space is paving the way for high-rise buildings which in turn propels the residential sector forward. As a result, the residential segment accounted for the largest share of the concrete admixtures market.
Across the globe, the Asia – Pacific region captured majority of the market in 2019. Within the Asia – Pacific region, China is the largest economy in terms of GDP. The country is investing more than USD 1.0 billion in major construction projects. This coupled with the increasing population in the Asia – Pacific region is thrusting the region’s construction sector. India and China are anticipated to lead the region’s concrete admixtures market. Rapid urbanization in the region is expected to make the Asia – Pacific region the fastest growing region over the forecast timeline.
The increasing demand for innovative and technologically advanced construction materials from the European regional market is pushing for the augmentation of the concrete admixtures regional market. The soaring needs for healthcare establishments for the rising geriatric population is another factor positively influencing the market.
The research report analyses the ecosystem of concrete admixtures market and categorizes it to forecast the revenues and analyse the trends in each of the following below mentioned market segments.
By Product Type
By Application
By Region
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
Log in / Register