Market Overview
Global Construction Additives Market has witnessed gradual
growth in recent years but is expected to witness steady growth in the forecast
period. The global Construction Additives Market is primarily driven due to
rapid growth of the construction industry with high demand for high strength concrete.
Construction additives chemicals, minerals and fibers are blended into cement
to alter its performance. Additives provide specific benefits for different
jobs. Liquid additives used during cement grinding, improve the strength of the
cement. Concrete bonding additive bonds old concrete to new for interior and
exterior jobs such as wall capping and resurfacing.
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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. The global Construction
Additives Market is expected to grow at a 7% CAGR during the forecast
period.
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)
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.
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.
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