Concrete Admixture Market Overview
Concrete Admixture Market was estimated to be worth USD 16.16 Billion in 2021, registering a CAGR of 4.79% during the forecast period (2022-2030), and the market is anticipated to be worth USD 24.62 Billion by 2030.
Concrete admixtures are added to concrete to improve its physical properties such as workability, durability, and strength. The demand for admixtures is driven by the construction industry, particularly in the Asia Pacific region, where there is a high demand for residential and commercial buildings due to rapid urbanization and exponential population growth.
Particularly Countries like India and China are currently witnessing massive economic growth alongside surging spending power this combination results into high demand for real estate. Hence construction activities in this region are carried out at a massive scale making Asia one of the leading consumer of concrete admixture. The admixture market is expected to expand further in coming years as it is directly co-related to real estate developments and demand. For instance, according to the financial express it was found that the Asia Pacific region is most optimistic about economic growth. Over half of Asia Pacific investors (53%) anticipate a positive impact as the result of economic growth within their own region.
Market Dynamics:
Concrete admixture is the substance which is added to the concrete mixture before or during its mixing. Admixture enhances the physical properties of concrete such as strength, durability, workability, compressive strength, etc. additionally it intensifies weather and corrosion resistance properties. Apart from enhancing physical properties they could also accelerate or retard setting time according to the requirement. Demand for concrete is rising due to infrastructure development and with this admixture demand is also expected to rise.
Driver:
Concrete is an elementary requirement for the construction industry and admixtures are crucial for concrete functioning thus construction industry growth will augment the demand for admixtures. Major economies like India and China are observing soaring demand for real estate attributed to urbanization this is also a major propeller for this market. Apart from the retail end, a clear demand from the government’s side could also be observed. The reason being development and renovation of old public infrastructures. In addition to this in emerging economies governments are allocating large sums of capital in the development of SEZs (special economic zone) in order to strengthen the manufacturing capacity these steps are estimated to impact the demand for admixtures in a positive manner. Hence to conclude the growth of the construction industry is positively correlated to the admixture market.
Restraint:
Greenhouse emissions during the manufacturing process of concrete is a major challenge. It is estimated that around 8% of the total global greenhouse gas emissions are directly related to cement manufacturing industry. To be specific the chemical process named calcination is the main reason behind high levels of CO2 emissions. These high levels of emissions could attract bans and restrictions from governing authorities in coming years this is one of the major challenge in expansion of admixture market. Furthermore with recent developments and advancements in alternative building material like Carbon fiber reinforced polymer (CFRP), Recycled plastic aggregate (RPA) etc. which have few advantages over concrete could also present a major threat to the concrete market which will result into indirect threat to the concrete admixture demand.
COVID-19 Impact:
The COVID-19 pandemic initially had significant impact on real estate industry, which in turn affected the Concrete Admixture Market. Both manufacturers as well as vendors have witnessed decline in profits due diminished demand. in addition to low demand construction project faced delays or cancellations due to governments restriction and labor shortages .But overall economic impact of COVID 19 pandemic on the Concrete Admixture Market is estimated to be moderate, as in 2022 economies all over the globe have witnessed a v shaped recovery. Due to economic recovery the demand for real estate is also estimated to rise. Furthermore COVID 19 has presented a massive opportunity in residential property segment the reason being huge demand due the concept of work from home (WFH). This trend could be observed in various urban locations were people are giving up old rented properties and are shifting into new properties into lesser developed locations mainly in tier 2 and 3 cities. This trend have presented a lucrative opportunity for construction industry and with this it is naturally a positive factor for concrete admixture industry.
Concrete Admixture Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 24.62 Billion |
| CAGR (2022-2030) | 4.79% |
| By Type | Water Reducing Admixtures, Accelerating Admixtures, Water Proofing Admixture, Retarding Admixtures, Air Entraining Admixture And Others |
| By Application | Residential, Infrastructure, Commercial And Industrial |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | CHYRSO SAS, GCP Applied Technologies Inc., Fosroc, Inc., Mapei SpA, RPM International, Inc., Rhein-Chemotechnik GmbH, Sika AG, BASF SE. |
Market Segmentation:
By Type
The type segment is divided into Water Reducing Admixtures, Accelerating Admixtures, and water proofing admixture, retarding admixtures, Air entraining admixture and others. In this segment the water reducing admixtures have largest market share the main reason being growing urbanization. Expanding cities resulted into demand for large scale residential and commercial buildings.
Water reducing admixtures drastically reduce the water absorption which in turn improve workability, strength, durability, and resistance to chemicals, freeze-thaw cycling, shrinkage cracking, and segregation. These all properties are very crucial especially when constructing multistory structures.
Accelerating admixture segment holds second largest share in this mixture the reason being its ability to effectively cut down the setting time and large rapid demand to meet this property is very crucial in construction industry.
Air entering admixtures are known to improve the resistance against freezing and thawing which could be a game changer in commercial construction sector.
By Application
The application segment could be categorized into Residential, infrastructure, commercial and industrial. In this segment the largest market share is captured by residential segment the main factors behind this markets domination is high demand for real estate especially in urban regions due to surging disposal incomes of median households.
Infrastructure segment is estimated to grow at fastest CAGR in the forecasted period this growth is fueled by augmented spending by governments in order to develop public infrastructure and commercial infrastructure especially in emerging economies like China and India. In addition to this exponential growth in young population within country like India have fueled the demand for educational infrastructure this factor is also a major driver for the surging demand from infrastructure segment.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa & Latin America. Asia pacific region is estimated to be the dominating segment. China being the biggest market in this region about a quarter of China’s total GDP Is associated to the real estate. In emerging countries like China and India rising demand for affordable housing could be observed due surging disposable incomes and expanding population this trend is expected to continue in coming years as well.
In Europe and North American region the major demand for real estate is generated from commercial and medical sector. In Europe a clear rising demand for personal offices could be observed on the other hand rising expenditure on health related facilities could be seen these both factors the major drivers in this region.
Concrete Admixture Market Competitive Landscape:
The concrete admixture market has been analyzed for its competitive landscape, with major players covered in this report. These players are leading the market through their investments in R&D with product innovation. This report contains company overviews, financial data, revenues, market potential, global presence, production sites, production capacity, and SWOT analysis, with product application.
Following are the key market players :-
- CHYRSO SAS
- GCP Applied Technologies Inc.
- Fosroc, Inc.
- Mapei SpA
- RPM International, Inc.
- Rhein-Chemotechnik GmbH
- Sika AG
- BASF SE
Table of Content
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