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Concrete Admixtures Market to Grow at a CAGR of 8.9% during the Forecast Period; Increasing Need to Improve Structural Properties of Concrete to Boost Market Development

February 07, 2024 | Chemicals & Materials

The global concrete admixtures market size stood at USD 19.10 billion in 2022. The market is predicted to rise from USD 20.85 billion in 2023 to USD 39.41 billion by 2030, recording a CAGR of 8.9% from 2023 to 2030.


Fortune Business Insights™ presents this information in its report titled, Concrete Admixtures Market Size, Share & COVID-19 Impact Analysis, By Type (Water Reducing Admixtures, Accelerating Admixtures, Water Proofing Admixtures, Retarding Admixtures, Air Entraining Admixtures, and Others), By Application (Residential, Infrastructure, Commercial, and Industrial), and Regional Forecast, 2023-2030.  


Concrete admixtures are the mixtures of additives utilized in producing a variety of concrete. The increasing need to improve the structural properties of concrete, including durability, strength, enhanced modular ratio, and improved unit weight, is fostering the market expansion.


Decline in New Construction Chemicals Amid Pandemic Impeded Market Growth


The COVID-19 pandemic had a negative effect on the concrete admixtures market growth. The novel coronavirus severely impacted several industries, such as automotive, chemicals, and construction. Halt in R&D initiatives for concrete admixture development amid the COVID-19 outbreak hindered the market expansion. A decline in new construction chemicals restricted market growth amid the pandemic.


Tremco CPG India Inaugurated a New Production Unit in Alwar, Rajasthan, to Meet Rising Demand for Construction Chemical Products


In May 2022, a parent company of Flowcrete, Tremco CPG India, inaugurated a new production unit in Alwar, Rajasthan (India), to meet the rising demand for construction chemical products in South Asian countries. The new facility spans 50,000 sq. Ft and will make high-quality products, such as powder, admixtures, waterproofing, and resin flooring systems. Tremco CPG India's new plant is expected to increase its presence in such a rapidly expanding market.


Increase in New Infrastructure and Construction Projects to Boost Market Growth


Increasing adoption of concrete admixtures in residential constructions to improve the original properties of the concrete is driving market growth. The surging need to achieve higher engineering specifications and decrease the overall construction cost is propelling market growth. An increase in consumer spending ability and the untapped regional construction industry are the key factors expected to prompt the initiation of new infrastructure and construction projects during the forecast period.


On the other hand, strict environmental regulations by governments on the construction materials are hampering the demand for concrete admixtures.


Key Companies Focus on Improvement in Their Production Capacities to Fulfil the Rising Product Demand


The global market is moderately fragmented due to the presence of several prominent companies. Top manufacturers of concrete admixtures are emphasizing on the improvement of their production capacities to fulfil the rising product demand. 


Notable Industry Development


January 2023: CEMEX, S.A.B. de C.V., intended to achieve net zero carbon emission in the coming years. The company created all new bio-based admixtures for the concrete application. Also, these admixtures are set to achieve a 70% lower carbon footprint than traditional oil-based admixtures.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/concrete-admixtures-market-102832


List of the Companies Profiled in the Report:



  • Buildtech Products (India)

  • Sika AG (Switzerland)

  • RAZON ENGINEERING COMPANY PRIVATE LIMITED (India)

  • Flowcrete Group Ltd. (U.K.)

  • CEMEX S.A.B. de C.V. (Mexico)

  • BASF SE (Germany)

  • GCP Applied Technologies (U.S.)

  • RPM International Inc. (U.S.)

  • Fosroc International Inc. (UAE)

  • Mapei S.P.A (Italy)

  • CICO Technologies Ltd. (India)

  • CHRYSO S.A.S (France)

  • Master Builders Solutions (Canada)


Further Report Findings-



  • The market in Asia Pacific was valued at USD 12.18 billion in 2022. The rapid expansion of the building & construction sector is propelling market growth in Asia Pacific.

  • The market in North America and Europe is set to gain momentum due to a rise in household formations and strong housing markets.



  • The market in Latin America is driven by the accessibility of natural resources at lower prices and supportive government policies.

  • Based on type, the water reducing admixtures segment accounted for the highest concrete admixtures market share. Rapid adoption of water reducing admixtures in the construction industry is propelling the segment growth.

  • By application, the residential segment secured the largest share. Increasing demand for single-family housing structures is driving segment growth.


Table of Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



CAGR (2023-2030)



CAGR of 8.9% from 2023-2030



Unit



Value (USD Billion), Volume (Kiloton)



Segmentation



By Type



  • Water reducing Admixtures

  • Accelerating Admixtures

  • Water Proofing Admixtures

  • Retarding Admixtures

  • Air Entraining Admixtures

  • Others



By Application



  • Residential

  • Infrastructure

  • Commercial

  • Industrial



By Geography



  • North America (By Type, By Application, By Country)

    • U.S. (By Application)

    • Canada (By Application)



  • Europe (By Type, By Application, By Country)

    • Germany (By Application)

    • U.K. (By Application)

    • Italy (By Application)

    • France (By Application)

    • Russia (By Application)

    • Rest of Europe (By Application)



  • Asia Pacific (By Type, By Application, By Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • Southeast Asia (By Application)

    • Rest of Asia Pacific (By Application)



  • Latin America (By Type, By Application, By Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of South America (By Application)



  • Middle East & Africa (By Type, By Application, By Country)

    • Saudi Arabia (By Application)

    • South Africa (By Application)

    • Rest of the Middle East & Africa (By Application)




Global Concrete Admixtures Market
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  • 2022
  • 2019-2021
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