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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