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.
Obtain Full Report Details@https://www.marketresearchfuture.com/reports/construction-additives-market-5170
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