Concrete Admixture Market size worth over $26bn by 2027
Published Date: April 14, 2021 Authors: Kiran Pulidindi, Sayan Mukherjee
Concrete Admixture Market size is set to surpass USD 26 billion by 2027, according to a new research report by Global Market Insights, Inc.
The global concrete admixture market growth is owing to the ever-increasing applicability of these admixtures in varied applications, ranging from residential and non-residential to commercial buildings. Admixtures not only reducing the cost of concrete construction but also in enhancing the qualities of concrete.
The application segment consists of residential, non-residential, and commercial infrastructural facilities. Admixtures are used in the vicinity of these concrete to boost their efficacy. The residential sector includes building single-unit & multi-family dwellings, quad-plex, duplex, and apartments. The rising population in APAC and the Middle East has positively affected residential construction spending in these regions, in turn, adding to the overall market demand.
The penetration of water reducer concrete admixtures will spur the overall market expansion
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The water-reducing concrete admixture market segment held around 50% of revenue share and is anticipated to witness 6.4% growth rate till 2027. Water-reducing admixtures reduce the water content of a concrete mixture by about 5% -10%. Subsequently, concrete with a water-reducing admixture requires less amount of water compared to untreated concrete. This further results in a higher tensile strength concrete with a limited amount of cement. Furthermore, recent advancements in technology have led to the development of a different class of mid-range reducers. These admixtures can reduce water content by up to 10% and provides stability over a wider range of temperatures.
The other segment accounted for 0.9% of the concrete admixture market share in 2020 and is projected to exhibit a CAGR of 4.3% through 2027. The other segment includes hydration control agent, slag, rice husk ash, and corrosion inhibitor and shows a decent growth rate over the forecast timeframe. Corrosion-inhibiting admixtures fall under specialty admixture that slows the corrosion of reinforced steel. These inhibitors substantially reduce renovation and maintenance costs of reinforced concrete structures throughout their service life of 35 – 40 years.
Browse key industry insights spread across 405 pages with 668 market data tables & 36 figures & charts from the report, “Concrete Admixture Market Size, By Product (Superplasticizers, Accelerators, Retarders, Water Reducers, Air Entraining Mixture, Fly Ash, Silicate Fume, Plasticizers, Synthetic CSH), By Application (Residential, Non-residential, Commercial), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The COVID-19 pandemic is poised to have a huge impact on the global economy, which is attributed to the development of the industry and consumer consumption patterns. The economic slowdown will have a major effect on the global construction industry, in turn, negatively affecting the market. Lowering consumer confidence is likely to decrease the demand for houses, dwellings, apartments, etc. The demand is expected to decrease given various factors including a shortage of subcontractors & materials, supply chain disruptions, and labor shortages. Economic slowdown, disruption in the supply chain, sudden decrease in construction activity are predicted to hamper the market in the short term. Although, demand is slated to take its normal course by the end of 2022.
The non-residential & commercial application to exhibit moderate growth
The non-residential sector in the concrete admixture market will reach USD 9.4 billion by 2027. Non-residential construction generally includes industrial, educational, healthcare, and other buildings. The increasing need for smart cities around the globe coupled with growing government investments in the construction sector is estimated to add to the segment growth.
The commercial sector captured 37% of the market share in 2020. The rising construction of commercial buildings, such as shopping malls, restaurants, supermarkets, hypermarkets, airports, warehouses, manufacturing facilities, etc., due to increasing migration in urban cities will be a major growth factor in this application segment.
Asia Pacific concrete admixture market accounted for over 50% of revenue share in 2020 and is expected to attain a CAGR of 7% by 2027. There is a growing demand for residential and commercial infrastructure, which is projected to generate huge revenue during the forecast period.
The Middle East market held 14.9% of revenue share in 2020. The rising demand for commercial infrastructure in the region coupled with increasing government spending is anticipated to generate huge demand during the forecast timeline.
Key players operated in the market include CEMEX Group, Fosroc, GCP Applied Technologies, Denka Company Limited, MAPEI, Cormix International Limited, RPM International, CICO Group, Arkema, Beijing Jiankai Concrete Additive, and others.