Concrete Admixture Market will reach US$ 27.4 Bn by 2032
Notable rise in the use of concrete admixture in concrete formulations for the construction of industrial, residential, and commercial structures is anticipated to expand the concrete admixture market. The global concrete admixture market is expected to reach a value of US$ 15.1 Bn in 2022. With a steady CAGR of 6.1%, the market will reach US$ 27.4 Bn by 2032.
|Global Concrete Admixture Market Estimated Size (2022E)||US$ 15.1 Bn|
|Projected Market Valuation (2032F)||US$ 27.4 Bn|
|Value-based CAGR (2022-2032)||6.1%|
|Collective Value Share: Top 3 Countries (2022E)||51%|
Rising infrastructural needs of emerging economies, accelerated urbanization, and increasing government initiatives in the construction sector will push the construction market. This will culminate in a rise in the demand for concrete admixture.
Construction sites have high water requisites. Since it is difficult to have constant and easy access to water, water-reducing admixtures like plasticizers and superplasticizers are in high demand. Apart from removing water from concrete, plasticizers provide strength, durability, and a strong bridge between concrete and steel. Plasticizers also aid in reducing cracking, segregation, and bleeding which promotes growth. All these properties promote the growth of the market.
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“High adoption rates of ready-mix concrete and precast concrete are likely to fuel demand for admixtures like superplasticizers. This will definitely boost growth in the concrete admixture market over the forecast period,” says an FMI analyst.
- Plasticizers and superplasticizers will dominate the concrete admixture market.
- High demand for fast-setting concrete admixtures will propel market expansion.
- India noted a rise in demand for liquid concrete admixture.
- Concrete admixture market in India is predicted to exhibit a CAGR of 8.5%
- Rapid expansion of the construction industry in China will boost the market possibilities for the Asia Pacific.
- By application, residential segment will account for 62.3% market share during the forecast period.
BASF SE, SIKA AG, GCP Applied Technologies, RPM International Inc., Fosroc International, Mapei S.P.A, CICO Technologies, CHRYSO S.A.S, Pidilite Industries Ltd, Rhein-Chemotechnik GmbH, Weber Saint-Gobain, Polisan Kimya San. A.S, Shandong Wanshan Chemical Co. Ltd., CEMEX SAB de CV, and others are some of the major players in the concrete admixture market that are profiled in the full version of the report.
In a competitive market, major players in the global concrete admixture market are focused on employing alternative distribution channels. These organizations are investing in research and development activities so as to innovate their existing product line and make it more eco-friendly.
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Concrete Admixture Market Outlook by Category
- Accelerating Admixture
- Air Entraining Admixture
- Retarding Admixture
- Water Reducing Admixture
- Water Proofing Admixture