May 27, 2020
As per the report titled ‘Concrete Admixture Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, global concrete admixture market is excepted to witness remunerative growth during 2019-2026.
Admixtures are natural or fabricated chemicals that are added to concrete during mixing to impart special properties to hardened or fresh concrete. Surge in construction activities across the globe, especially in developing nations is the primary growth driver of global concrete admixture market.
Based on the product type, superplasticizers segment is projected to register a 6% CAGR through 2026. The growth can be attributed to the excellent property of superplasticizers to reduce water content by 30% or more without impacting the functionality of the concrete. The product is favorable for applications which require well-dispersed particle suspension to enhance the rheology.
On the other hand, fly ash segment is set to record a y-o-y growth rate of 4.7% over the projected timeframe. Use of fly ash as a prime admixture material in cement-based products like concrete block, brick, and poured concrete owing to advantages such as reduced bleeding and segregation properties is driving the segment growth. Moreover, fly ash is finer than cement and more economical as it improves workability of concrete.
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Speaking of the application spectrum, commercial segment is anticipated to show significant growth over the forecast timeline, owing to increase in construction of restaurants, hypermarkets, shopping malls, airports, warehouses, roads, and manufacturing facilities to fulfill the demand of booming urban population.
Concrete admixture market share from non-residential application is poised to witness modest gains in the coming years, driven by the robust demand for construction of non-residential sites such as amusement/recreation parks, retail shopping centers, educational hubs, and hotels.
As per the regional analysis, Europe concrete admixture market is expected to display sluggish growth over the projection period. Limited number of new construction projects, alongside increasing remodeling and restructuring activities in region are supporting Europe market expansion.
Meanwhile, Latin America concrete admixture market is reckoned to experience considerable growth, owing to increasing commercial building and construction activities. Strong economic growth and sustaining investments by both private and government firms are impelling the business scenario in LATAM. For instance, 6 highway PPP’s were announced in January 2018, with capital expenditure of USD 6 billion in the region.
Major players operating in global concrete admixture market are GCP Applied Technologies Inc., BASF SE, Sika AG, Fosroc Ltd., Denka Company Limited, CEMEX Group, Cormix International Limited, Mapei SpA, Krishna Colours & Constchem Pvt. Ltd., and RPM International, Inc. among others.