June 04, 2020
According to a recent study titled ‘Global Concrete Admixtures Market Size study, by Type (Superplasticizers, Normal Plasticizers, Accelerating Agents, Retarding Agents, Air-Entraining Agents, Waterproofing Agents and Others), by Application (Residential, Non-Residential, Infrastructure) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global concrete admixtures market was valued at USD 14.12 billion in 2019 and is expected to record a growth rate of 9.13% over 2020-2026.
Global concrete admixtures market is primarily driven by increasing construction of residential and commercial buildings across the globe. Upsurge in the demand for roads, bridges, and high-rise buildings is slated to command market expansion over the approaching years.
Citing an instance, global airport construction investment amounted to approximately USD 540 billion as of January 2015. Rapid urbanization is has led to an increased burden for the existing facilities at the airports, thereby encouraging the expansion of airport infrastructure. Thus, high government investments for development of airports will play a key role in fostering the market growth in the forthcoming years.
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Moreover, significant growth of global construction and mining industries along with industrial developments in emerging economies of Asia Pacific and Latin America will serve as major impetus for the industry growth. On the contrary, lack of awareness about admixtures and increase in raw material prices are expected to hamper the business landscape over the forecast duration.
Based on the type, the market is divided into superplasticizers, accelerating agents, normal plasticizers, retarding agents, waterproofing agents, and others. onlooking at the application spectrum, the market is split into residential, non-residential, an infrastructure.
Considering the regional outlook, the market is divided into North America, Europe, Asia Pacific, Latin America and Rest of the World. Asia Pacific concrete admixtures market is expected to witness a robust growth rate over the analysis timeline, on account of ongoing urbanization and inflow of investments from the public and private sector for infrastructure development in the region.
Key players operating in global concrete admixtures market are BASF SE, DOW Chemical Company, Sika AG, Rpm International Inc., W.R. Grace and Co., Chryso S.A.S., Pidilite Industries, Mapei S.P.A, Cico Technologies Ltd., and Fosroc International Ltd.