"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The global concrete admixtures market size was USD 18.05 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with the product witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a huge decline of -7.2% in 2020 compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 18.09 billion in 2021 to USD 31.44 billion in 2028 at a CAGR of 8.2% during the 2021-2028 period. The sudden rise/decline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Concrete admixtures are synthetic or natural additives, which are added during or before the concrete mixing process. The main purpose of adding these admixtures is to provide corrosion resistance, workability, durability, compressive strength, and finish ability properties to the buildings. The rapidly growing construction industry will boost the adoption of concrete, which results in increasing the demand for admixtures. Additionally, the ability of the product to minimize the time required by hardened concrete to cure coupled with rapid infrastructure development will further flourish the market growth during the forecast timeframe.
Disruption in Construction Industry Due to Spread of COVID-19 Resulted in Market Decline
The disruption in the construction industry due to government restrictions implemented during the COVID-19 pandemic had a significant influence on the adoption of concrete admixtures. This pandemic had generated uncertainty and unprecedented delays on construction projects. Also, due to machinery closures, the severe shortage of trained and skilled labor, and a scarcity of raw materials, the building construction processing remained closed. According to the United Nations Environment Program (UNEP) organization, in 2020, the impact of COVID-19 on the global construction industry has been severe, and construction activities have decreased by 10–25% when compared with the previous year 2019. Furthermore, the pandemic had negatively disrupted the economy and has simultaneously affected businesses, households, industrial establishments, and financial institutions. However, various governments are coming up with supportive policies and seeking to re-establish their economy back on track. As a result, the construction industry is likely to stabilize over the next couple of years.
Request a Free sample to learn more about this report.
Rapid Growth in Construction Industry is a Prominent Trend
The rapidly growing construction industry in developed and developing countries will offer lucrative opportunities for concrete admixtures globally. These admixtures play a crucial role in the construction industry. They are ideal for offering durability and ensuring the high quality of concrete during mixing, curing, putting, and transporting. Several producers use admixtures primarily to modify the qualities of hardened concrete and lower the cost of concrete construction. Moreover, the increasing commissioning of infrastructural projects coupled with the growing number of commercial and residential buildings will boom the construction industry. Hence, such factors will drive the global market growth during the forecast timeframe.
Increasing Plasticizer Demand to Boost Market Growth
This market is growing at a rapid pace owing to the increasing demand for plasticizers for various applications in residential, commercial, and industrial structures. Plasticizers are commonly made of calcium, ammonium lignosulphonates, and sodium and are comprised of super and normal plasticizers. They are ideal for minimizing water from concrete and offer high strength, durability, and a good bond between steel & concrete. Moreover, workability is an important quality of concrete that improves with the addition of water; nevertheless, if water is added in excess, concrete's strength and durability are compromised. This leads to increasing the consumption of plasticizers in the concrete process. According to The Constructor Organization, the addition of these plasticizers can reduce the water content by 15-30% in the concrete mix. Further, these plasticizers also help to prevent segregation, cracking, bleeding, and honeycombing. Thus, increasing demand for plasticizers will boost the adoption of concrete admixtures.
Environmental Impacts Caused by Concrete to Hamper Market Growth
Emissions caused by concrete may hamper the consumption of concrete type of admixtures. Due to the usage of Portland cement in concrete pavements, a significant quantity of carbon dioxide (CO2) is released into the environment. This further causes air, water, and soil pollution and also impact human health. Due to this, many environmental regulations passed by the governments in several countries. Hence, these factors act as a restrain the concrete admixtures market growth.
Water Reducing Admixtures Segment to Hold Largest Share in this Market during the Forecast Period
Based on type, the market is segmented into water-reducing admixtures, accelerating admixtures, waterproofing admixtures, retarding admixtures, air-entraining admixtures, and others. The water-reducing admixtures are also known as a plasticizer; the segment is forecasted to hold the largest share and have the highest growth rate in the global market. Increasing demand for these plasticizers in the residential and commercial construction industry owing to their water-reducing properties will propel the segment growth.
Accelerating admixtures is the second-leading segment in this market. The rising demand for admixtures in the residential construction industry due to their ability to decrease the initial setting time of concrete will boost the segment growth. The demand for waterproofing admixtures is high owing to their ability to absorb water and water-borne contaminants. Further, they also aid in increasing durability, reducing maintenance costs, and protecting the structures from degradation.
The air-entraining admixture segment is growing at a sustainable rate in the global market. Air entraining admixtures offers durability and increase the concrete's ability to withstand freezing and thawing. These factors are increasing the product demand in the commercial construction industry. The rising adoption of retarding admixtures in high-temperature zones to set concrete quickly will fuel the segment growth during the review period.
To know how our report can help streamline your business, Speak to Analyst
Residential Segment is the Largest Application for the Concrete Admixtures in 2020
Based on application, the market is segmented into residential, infrastructure, commercial, and industrial. The residential segment holds the highest concrete admixtures market share in the global market. Increasing consumer disposable income coupled with the increasing trend of the nuclear family has resulted in high demand for residential buildings. Hence, this will further fuel the overall market growth of concrete admixtures.
The infrastructure segment is expected to grow with the highest CAGR during the review period. Rapidly growing infrastructure development in countries such as China, India, the U.S., and Germany will contribute to the flourishing growth of this segment. The increasing number of private offices and educational institutes has fueled the commercial segment growth. The expansion of manufacturing facilities and plants by leading companies will drive the demand for industrial buildings. Such factors will lead to fuel the segment growth during the forecast timeframe.
Asia Pacific Concrete Admixtures Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The market size in the Asia Pacific stood at USD 11.41 billion in 2020. The rapid infrastructure development and increasing demand for affordable houses by people have fueled the market growth in the Asia Pacific. In this region, China holds the highest market share and is the fastest-growing country. The growing population, increasing urbanization, and rising household income levels are the major factors that are driving the growth of the residential sector in this country.
In Europe, the growth is associated with the increasing demand for private offices at affordable prices, thereby rising adoption of these admixtures in commercial buildings. In North America, the market growth is majorly due to the rapid expansion of the healthcare industry, which offers the demand for new construction projects of hospitals & medical institutions. Thereby providing lucrative opportunities for concrete admixtures consumption in the region. In the Middle East & Africa, the growth is attributed to the rapid infrastructure development in developing countries such as Saudi Arabia and South Africa. Moreover, the rising adoption of retarding admixtures in the construction industry due to extreme changes in weather conditions will augment the market growth in the Middle East & Africa. The growth of the industrial sector in Latin America will showcase significant growth in the near future. The growth is due to the increasing expansion of production capacities and manufacturing facilities by the number of companies, which leads to the growth of construction activities in this region.
To know how our report can help streamline your business, Speak to Analyst
Business Expansion in Construction Industry is Key Strategic Initiative Implemented by Companies
Key producers operating in the market are BASF SE, Sika AG, and MBCC Group. These companies are involved in capacity improvement, product innovation, and collaborations in the market. BASF SE is a multinational chemical-producing company. With its functional materials & solutions business segment, the company provides concrete admixtures based products to the customer. Further, the company is involved in the R&D activity, acquisition, facility expansion, and products innovation in order to meet the demand for concrete admixtures.
An Infographic Representation of Concrete Admixtures Market
To get information on various segments, share your queries with us
The market research report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, types, applications, and products. Also, it provides quantitative data in terms of volume and value, research methodology for market data, and insights into market trends and highlights vital industry developments and competitive landscape. In addition to the factors stated above, the report includes various aspects that have supported the growth of the market over past years.
Value (USD Billion); Volume (Million Ton)
Type, Application, and Geography
Fortune Business Insights says that the global market size was USD 18.05 billion in 2020 and is projected to reach USD 31.44 billion by 2028.
In 2020, the market value stood at USD 18.05 billion.
Registering a significant CAGR of 8.2%, the market will exhibit considerable growth in the forecast period (2021-2028).
The residential segment is expected to lead the market during the forecast period.
The increasing demand for plasticizers is the key factor driving the market.
BASF SE, Sika AG, and MBCC Group are the leading players in the market.
China held the highest share in the market in 2020.
The rapid growth in construction industry and infrastructure development is anticipated to boost the consumption of the product.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry