The global concrete admixtures market
size is expected to reach USD 23.01 billion by 2027 registering a CAGR of 4.8%, according to a new report by Grand View Research, Inc. The demand for admixtures is increasing on account of their superior properties, such as high strength, water reduction, retardation, and durability, which make them ideal for use in infrastructure components. The market growth is dependent on technological advancement and innovation in the construction industry related to chemicals, mixtures, and concrete used. Concrete admixtures are widely used in construction applications.
The COVID-19 pandemic has affected the construction sector, which will hamper the product demand. Moreover, fluctuations in the construction sector might directly affect market growth. The market value chain comprises raw material suppliers, manufacturers, distributors, and end-users, and the manufacturers are extremely dependent on the suppliers for raw materials. Key players, such as BASF SE and Sika AG, focus on maintaining and strengthening their market positions through R&D investments, development of sustainable products, agreements, acquisitions, and geographic expansions.
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Concrete Admixtures Market Report Highlights
- The air-entraining agents segment is expected to witness the fastest CAGR of 6.2% from 2020 to 2027 on account of properties of these admixtures, such as durability, ease of placing, and resistance to frost action
- Superplasticizer was the dominant product segment in 2019 and is projected to expand further at the fastest CAGR over the forecast period owing to the productâ€™s water-reducing and early strength enhancement properties
- Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of 6.1%, in terms of revenue, owing to rapid industrialization and potential market prospects
- Major manufacturers, such as Sika AG, emphasize R&D activities and the implementation of new technologies to gain a competitive edge.
Concrete Admixtures Market Segmentation
Grand View Research has segmented the global concrete admixtures market on the basis of product and region:Concrete Admixtures Product Outlook (Volume, Kilotons;Â Revenue, USD Million, 2016 - 2027)
Concrete Admixtures Regional Outlook (Volume, Kilotons;Â Revenue, USD Million, 2016 - 2027)
- Water Reducing Admixtures
- Waterproofing Admixtures
- Accelerating Admixtures
- Air-Entraining Admixtures
- Retarding Admixtures
List of Key Players of Concrete Admixtures Market
- North America
- Asia Pacific
- Rest of the World
About Grand View Research
- Sika AG
- BASF SE
- GCP Applied Technologies, Inc.
- RPM International, Inc.
- Fosroc, Inc.
- Mapei SpA
- CHYRSO SAS
- Rhein-Chemotechnik GmbH
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.