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The Concrete Admixtures Market Size is valued at 17.90 billion in 2023 and is predicted to reach 24.51 billion by the year 2031 at a 4.14% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- Concrete admixtures will find promising prospects in the booming building industry in established and developing nations. The construction sector relies on these admixtures.
- A plethora of new and improved services and products will propel the concrete admixture industry over its predicted period of growth.
- Asia Pacific dominated the market and accounted for a revenue share of global revenue in 2023.
- The unorganized construction industry's shortage of skilled workers significantly threatens to expand the concrete admixtures market.
Concrete admixtures are substances added to concrete during the mixing process to improve its quality, such as workability, durability, and final strength. Admixtures for concrete are essential in the building sector. Other than cement, water, and aggregate, concrete admixtures are finely dispersed materials added to the mix right before or during mixing. It's employed to lower the price of concrete, improve or change the qualities of hardened concrete, and guarantee the consistency of concrete when mixing. It enhances the concrete's rheology, workability, quality, durability, and other characteristics.
However, many customers need to be made aware of the benefits of using concrete admixtures, which can limit the concrete admixtures market expansion. There are no standardized methods for testing the performance of concrete admixtures, which can make it difficult to compare products from different manufacturers.
Recent Developments:
- In April 2023, CHRYSO brand developed an ultra-low carbon concrete solution using Hoffmann Green Cement Technologies' new additive CHRYSO EnviroMix ULC 5500.
- In May 2022, Sika inaugurated a new Santa Cruz de la Sierra facility to produce mortar and concrete admixtures. The new factory has increased Bolivia's capacity to produce mortar and concrete admixtures by two times, in addition to the current plant.
Competitive Landscape:
Some of the Concrete Admixtures Market Players are :
- BASF SE
- Buildtech Products (India)
- CHYRSO SAS
- CICO Technologies Ltd (India)
- Flowcrete Group Ltd. (India)
- Fosroc, Inc.
- GCP Applied Technologies Inc.
- Mapei SpA
- MBCC Group (Germany)
- RAZON ENGINEERING COMPANY PRIVATE LIMITED (India)
- Rhein-Chemotechnik GmbH
- RPM International, Inc
- Sika AG
Market Segmentation:
The concrete admixtures market is segmented based on product and applications. Based on product, the market is segmented as water-reducing admixtures, superplasticizers, plasticizers, waterproofing admixtures, accelerating admixtures, air-entraining agents, retarding admixtures, and other admixtures. As per the application segment, the market is categorised into Residential, Commercial and Infrastructure.
Based On The Product, The Water-Reducing Admixture Segment Is A Major Contributor To The Concrete Admixtures Market
The water-reducing admixture segment is one of the concrete admixtures market's largest and most important segments. Water-reducing admixtures decrease the amount of water needed in a concrete mix without compromising the workability or strength of the concrete. This can increase the durability and performance of the concrete while reducing its carbon footprint and environmental impact.
Water-reducing admixtures are widespread in the construction industry, and they are used in various applications, including precast concrete, ready-mix concrete, and concrete paving. They are also used in various end-use sectors, including residential, commercial, industrial, and infrastructure projects. Several aspects are driving the growth of the water-reducing admixture segment, including the growing demand for sustainable and eco-friendly building materials, increasing construction activities in emerging markets, and the need for enhanced durability and strength of concrete structures.
In addition, ongoing advancements in technology and product development are leading to the introduction of more advanced water-reducing admixtures that offer superior performance and sustainability. The water-reducing admixture segment is anticipated to dominate the concrete admixtures market in the coming years, driven by boosting demand for sustainable and eco-friendly building materials, ongoing advancements in technology and product development, and growing construction activities in emerging markets.
The Superplasticizers Segment To Witness Growth At A Rapid Rate
Superplasticizers are anticipated to be one of the fastest-growing segments within the concrete Admixtures Market. Superplasticizers are high-range water reducers that improve the workability and fluidity of concrete without sacrificing its strength or durability. They are typically added to concrete mixes in small amounts. They can help reduce the amount of water needed for the mix, improving the overall strength and durability of the concrete.
The Asia Pacific Concrete Admixtures Market Holds A Significant Revenue Share In The Region
The Asia Pacific concrete Admixtures Market is expected to register the highest market share in revenue shortly. Several countries in the region are investing heavily in infrastructure development, including roads, bridges, airports, and public transportation systems. This is driving demand for high-performance concrete structures that require concrete admixtures.
The Asia Pacific region is experiencing rapid urbanization, leading to the development of new cities and the expansion of existing ones. This is driving the need for new construction projects, which in turn is fueling the concrete admixtures market growth in the region. Besides, Europe is expected to be a significant market for concrete admixtures in the coming years, driven by increasing demand for sustainable and high-performance building materials, stringent regulations and standards, and ongoing advancements in technology and product development.
Concrete Admixtures Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 17.90 Bn |
|
Revenue forecast in 2031 |
USD 24.51 Bn |
|
Growth rate CAGR |
CAGR of 4.14% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (KT) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
By Product and Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Sika AG; BASF SE; GCP Applied Technologies Inc.; RPM International, Inc.; Fosroc, Inc.; Mapei SpA; CHYRSO SAS; and Rhein-Chemotechnik GmbH. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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