Concrete Admixtures Market size to surpass $30bn by 2026
Published Date: February 4, 2020 Authors: Kiran Pulidindi, Hemant Pandey
Concrete Admixtures Market size will exceed USD 30 billion by 2026; according to a new research report by Global Market Insights, Inc.
Rising urbanization in Asia Pacific is propelling the revenue growth
Global urbanization is on the rise, mainly in the Asia Pacific region, with large amount of rural population moving to city areas. Socio-economic factors such as GDP & employment growth, lifestyle preferences, security are factors behind urbanization growth. In Asia Pacific, 45.3% population is urban, whereas 54.7% population is living in rural area. The urban population share is anticipated to rise in the forthcoming years with growing employment opportunities from various end-use sectors, which will eventually lead to population migration from rural to urban areas. Moreover, in order to promote green energy and encourage “smart infrastructure”, governments are taking steps to include substantial investment in technology and fostering innovation in the construction industry. These modernization trends will trigger product demand significantly, with higher gains for concrete admixtures market growth by 2026.
New product introduction can disrupt the market
Synthetic CSH is a recently launched concrete admixture and has witnessed very impressive growth of over 8% CAGR during the forecast period. Synthetic CSH is at nascent stage and witnessing high demand compared to its counterparts across the globe. The product has exceptional strength enhancing properties and it reduces energy consumption and greenhouse gas emissions. Furthermore, growth is likely driven by increasing environmental awareness, and growing emissions regulations.
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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, Application Potential, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Escalating population to rise the product demand from residential sector
Residential construction investment is witnessing rise on account of high demand for new residential dwellings, renovation work and the urbanization. The segment had more than 35% of overall concrete admixtures market share and is likely to grow strongly owing to multiple socio-economic factors around the world. Residential segment is flourishing on account of rising construction of private homes, apartments, and high-rises in the Middle East and Asia Pacific region. For example, the Union Cabinet of Government of India, has approved USD 3.58 billion for 1,600 stalled housing projects in a country under alternate investment funds. Growing housing needs in rapidly developing nations shall boost concrete admixture industry.
Commercial building and construction shall drive product demand in Latin America
Asia urban population constitutes approximately 45% of the global population and with rising consumer spending power in the region and economy boost, the migration rate from rural to urban has been increasing, which will trigger demand for housing facilities in the region in the coming years. In order to achieve these parameters, regional government has been making significant investment in major residential projects, which will subsequently drive product demand and henceforth will help achieve positive gains to the total concrete admixtures market demand by 2026. The region is likely to garner a revenue of more than USD 15 billion by the end of the forecast span.
Geographical integration of supply chain can be a game changer for industry players
Some of the major players in concrete admixture industry share include Fosroc, Denka Company Limited, GCP Applied Technologies, Cormix International Limited, CEMEX Group, MAPEI, RPM International, Arkema, CICO Group, Beijing Jiankai Concrete Additive etc.
In July 2016, Fosroc made substantial investments for expanding its production capacity by opening a new facility in Nairobi. It was set up to meet the demand for construction solutions with locally produced products. With growing foothold in the Asian market, the company signed a joint venture agreement in 2018 with Berger Paints for the production of construction chemicals in Bangladesh. This move was intended to provide durable and sustainable construction solutions for infrastructure projects in the region. Such a strategic geographic expansion gives the company competitive edge over other companies. The strategy enabled the company to reach local customers and cater the local demand with innovative products.