Market Scenario:
Global construction additives market has witnessed
gradual growth in recent years, and is expected to witness steady growth in the
forecast period. The global construction additives market is primarily driven
due to growing urbanization, improved quality, and properties of construction
materials and high demand for construction additives in developing countries.
The construction industry is evolving continuously as huge differences are
witnessed between the structures built today and the ones built over a decade
ago. Changing lifestyles, rapid urbanization, and the demand for enhanced
aesthetics for residential, commercial, and infrastructure, have forced
architects and engineers to innovate the design of concrete structures suited
for various applications. On the flipside, tight project completion deadlines
and the increasing variable costs of construction present a challenge for
efficient execution of the construction projects. Construction additives offer
the benefits of high quality, increased efficiency, and better finishing. Lack
of awareness regarding construction additive techniques and their benefits,
along with unstable costs of raw materials, might restrain the demand for this
type of construction technique.
Rapid growth in the construction sector is one of
the major factors driving the construction additives market. High demand for
residential and non-residential buildings has a significant impact on the
demand for construction additives, as they are used in the flooring and walls
of the buildings. Consumer preferences for improved and high-quality cement are
expected to boost the overall product consumption rate in future as cement
additives are helpful in increasing product strength, and are capable of providing
waterproofing feature, enhanced chemical resistance, color, and high water
reduction.
The construction industry has witnessed a
significant change with the introduction of construction additives as they
provide flexibility to designers to modify and enhance both, physical and
chemical properties of concrete. This includes compressive strength, durability,
surface finish, and resistance to withstand adverse climatic and working
conditions as per design specifications/requirements without compromising the
quality of the concrete structure. However, the rising emissions of toxic
chemicals, is expected to hamper the construction additives market growth in
the future.
Global construction additives market has been
segmented based on type, end-use, and region. The commercial sector is
projected to be the fastest-growing segment in the construction additives market
during the forecast period. The gradual shift of building contractors and
consumers toward cost-efficient, eco-friendly, modern building techniques, and
the utilization of ready-mix concrete in developing countries create growth
opportunities for the construction additives market. Whereas, the chemical
additives segment is projected to grow at a higher CAGR during the forecast
period. This growth can be attributed to factors such as introducing high
strength to concrete with less water content, and easy workability. Chemical
additive-based concrete finds applications in complex reinforcement models,
such as underwater locations, roof decks, foundations, and pavements, where
accessibility is the main constraint.
The industry is expected to have a huge number of
new entrants over the forecast period owing to continuous developments in
construction industry coupled with growing consumer preferences for
high-quality cement. The market is also expected to have high expansion
activities by multinationals and well-established companies. Mergers and
acquisitions are expected to be seen over the forecast period.
The global construction additives market is
expected to grow at ~ 7% CAGR during the forecast period.
Global Construction Additives
Market The global construction additives market is
expected to witness a phenomenal growth during the forecast period. This is due
to the considerable growth in the construction industry with population boom
along with declining interest rates, which has propelled the housing market in
various regions. The growth is primarily attributed to rising incomes from the
economic growth have boosted housing and construction market in various
countries, which is likely to continue during the forecast years. The Asia Pacific
region is currently the leading region in global construction additives market,
followed by North-America. Middle East & Africa is also expected to grow at
a high CAGR, owing to high construction activities, coupled with increasing
demand for enhanced additive products.
Key Players The key players of global construction additives market are BASF SE
(Germany), Sika Group (Switzerland), The Dow Chemical Co. (U.S.), W. R. Grace
and Company (U.S.), RPM International Inc (U.S.), CHRYSO Group (France) Evonik
Industries AG (Germany), Mapei S.p.A (Italy), Fosroc (U.K.) and Cico Group
(India).
This
research report provides insights, on various levels of analysis such as
industry analysis, and market share analysis for the leading players along with
their profiles. It also helps in studying the target segments by providing
views on emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios & strategies in the global
construction additives market, including high-growth regions and/or countries,
and political, & economic environments. The project report, further,
provides views on both the historical market values and pricing & cost
analysis.
Asia Pacific Construction Additives market is
expected to grow at the highest CAGR
Currently, the Asia Pacific
region is the largest consumer of construction additive products. China, U.S.,
and Germany are among the major markets of construction additives, globally.
The Asia Pacific construction additives market is projected to register the
highest CAGR during the forecast period. The rising number of infrastructural
activities and the population in China, Japan, and Australia, drive the growth
of the Asia Pacific construction additives market. Additionally, other emerging
economies such as South Africa and countries in the Middle East and South
America are experiencing high demand for residential and commercial
constructions. The rapid urbanization in these countries demand faster and
cheaper construction of buildings and facilities without compromising on
quality. The rise in the number of government investments in infrastructural
constructions, further boosts the growth potential of the construction
additives market in these regions.
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